eWellness Healthcare Corporation (OTCQB: EWLL) is engaged in the development of a physical therapy-based telemedicine platform. This helps create the ability to conduct distance monitored physical therapy programs for patients that may not be entirely mobile or health-challenged. Shares of the physical therapy telemedicine provider are soaring 129%, through early trading on Monday, December 5, 2016. Over the past three months, eWellness Healthcare Corporation has seen average daily volume of around 1.25 million shares. However, nearly 3.94 million shares or dollar volume of 315,200, has already exchanged hands through early trading on Monday.
eWellness Healthcare Corporation is seeing shares rally triple digits on Monday, after the company announced it has officially signed a third party physical therapy clinic, which will use the telemedicine and distance treatment solutions. Back to Motion PT will head the PHZIO Tele-rehab platform in Denver, Colorado. The company expects to continue expansion as the technology looks to disrupt the traditional physical therapy market. Here is the full press release detailing of the third party signing:
eWellness Healthcare Corporation Press Release:
CULVER CITY, CA–(Marketwired – Dec 2, 2016) – eWellness Healthcare Corporation, ( OTCQB : EWLL ) is the first physical therapy telemedicine company to offer insurance reimbursable real-time distance monitored physical therapy (PT) treatments. The Company is pleased to announce the Company successfully signed its initial 3rd party PT clinic for the use of its PHZIO Tele- rehabilitation Platform. The agreement is with Back to Motion PT located in Denver Colorado. Back to Motion PT is one of our current universe of up to 30 beta site PT clinics to begin using our PHZIO system. The Company has a significant backlog of PT clinics who have indicated a high interest in using our PHZIO platform.
eWellness held its commercial launch of its PHZIO system as a Tier 1 sponsor of the American Physical Therapy Association (APTA), Private Practice Section (PPS) Annual Conference held in Las Vegas in October of this year. Approximately 1,100 PT clinic management and owners attending the PPS conference which is our initial universe of PT practices to target as users of our PHZIO SaaS treatment platform.
About eWellness Healthcare Corporation
eWellness Healthcare Corporation ( OTCQB : EWLL ) is the first physical therapy telemedicine company to offer insurance reimbursable real-time distance monitored treatments. Our business model is to license our PHZIO (“PHZIO”) platform to any physical therapy (“PT”) clinic in the U.S. and or have large-scale employers use our PHZIO platform as a fully PT monitored corporate wellness program. The Company’s PHZIO home physical therapy exercise platform has been designed to disrupt the $30 billion physical therapy and the $8 billion corporate wellness industries. PHZIO re-defines the way physical therapy can be delivered. PHZIO is the first real-time remote monitored 1-to-many physical therapy platform for home use. Due to the real-time patient monitoring feature, the PHZIO platform is insurance reimbursable by payers such as: Anthem Blue Cross and Blue Shield.
The PHZIO Solution: A New Physical Therapy Delivery System
- SaaS technology platform solution for providers bundling rehabilitation services and employer wellness programs;
- First real-time remote monitored 1-to-many physical therapy treatment platform for home use;
- Ability for physical therapists to observe multiple patients simultaneously in real-time;
- Solves what has been a structural problem and limitation in post-acute care practice growth; and
- Allows PT practices to generate increased revenues due to higher adherence and compliance rates.
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