Culver City, CA, April 16, 2018 (GLOBE NEWSWIRE) -- eWellness Healthcare Corporation – (OTCQB: EWLL) – a provider of the state of the art PHZIO platform for the physical therapy (PT) and telehealth markets, announced that it is developing the first tokenized physical therapy payment system for insurance companies, large scale self-insured corporations and their insured members. Fintech Global Consultants (FGC) http://f-g-c.com will assist the Company in completing this Blockchain and tokenized payment system.
This tokenized payment platform will allow patients to receive telehealth physical therapy evaluations and real-time monitored PT treatments through the use of a PHZIO token. All patient treatment records will also be blockchained within this payment system. This system will enable the confirmation of all patient treatments, which in turn will eliminate medical treatment fraud. This tokenized payment system will also eliminate all billing services for any licensed PT clinics using our PHZIO treatment system. Our tokenized payment system will also eliminate any patient co-payments.
Utilization of our platform is estimated to reduce physical therapy costs by 50% or more for insurance carriers. In order for insurance companies to receive these new low cost physical therapy services, they will be buying tokens in bulk in advance of distributing the tokens to their insurance membership. These members will then be able to seek PT care through our PHZIO platform in return for a token, that can then be redeemed by the telehealth provider for immediate payment by the insurance provider. This tokenization of the billing process will eliminate delays in telehealth provider reimbursement by health insurance carriers.
Our PHZIO telehealth clinical methodology typically calls for an initial patient evaluation, followed by 5-12 treatment sessions and a treatment discharge session. We have found that generally, patient outcomes are better that in-clinic care, due to the convenience of using our PHZIO platform.
Douglas MacLellan, Chairman of EWLL stated, ”We believe that our new tokenized payment system combined with our PHZIO treatment platform will revolutionize physical therapy and wellness delivery. Our PHZIO platform can provide PT care that is: significantly cheaper for payors and patients, easier to access, secure, and is as good or better than traditional in-clinic PT treatments. Insurance companies and large scale self-insured companies are urgently searching for definable healthcare innovations. Our PHZIO telehealth system is delivering innovation today”.
Tony Evans, Managing Director of FGC stated, that he is “Highly impressed with the tokenized telehealth platform that EWLL has built and believes that this new tokenized payment system will be a game changing innovation to the telehealth industry”.
eWellness Healthcare Corporation (OTCQB: EWLL) is the first physical therapy telehealth 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.
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About Fintech Global Consultants
Fintech Global Consultants is one of the world's leading fintech consulting firms with over $1.1 billion under advisory from more than 6,400 clients in 82 countries. With a focus on wealth creation and preservation, the company has raised more than $150 million in initial coin offerings (ICO). Offering clients niche expertise and the highest level of service, their services include ICO launches, funding assistance, marketing and compliance, mining opportunities and crypto portfolio advisement. For more information on Fintech Global Consultants, visit http://f-g-c.com.
Safe Harbor Statement
This news release includes certain information that may constitute forward-looking statements. Forward-looking statements are typically identified by terminology such as “could,” “may,” “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “proposed,” “planned,” “potential” and similar expressions, or are those, which, by their nature, refer to future events. All statements, other than statements of historical fact, included herein, including statements about eWellness’ beliefs and expectations, are forward-looking statements. Forward-looking information is necessarily based upon a number of assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Although eWellness believes that such statements are reasonable, it can give no assurance that such forward-looking information will prove to be accurate. eWellness cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors. Accordingly, due to the risks, uncertainties and assumptions inherent in forward-looking information, readers and prospective investors in the Company’s securities should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof and is subject to change. The Company assumes no obligation to revise or update forward-looking information to reflect new circumstances, whether as a result of new information, future events or otherwise, except as required by law.
For additional information on eWellness Healthcare Corporation and its PHZIO telemedicine products please contact Mr. Darwin Fogt, CEO: 1-855-470-1700