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eWellness Plans March Inauguration of Telehealth Services to Endeavor Plus Services, Inc. an Uber Fast- Growing Healthcare Plan Administrator
eWellness Plans March Inauguration of Telehealth Services to Endeavor Plus Services, Inc. an Uber Fast- Growing Healthcare Plan Administrator.
About this update from Ewellness Healthcare Corp
[{"type":"text","content":"\n\n Culver City, CA,, Jan. 30, 2018 (GLOBE NEWSWIRE) -- eWellness Healthcare Corporation – (OTCQB: EWLL) – a provider of the state-of-the-art PHZIO Platform for the physical therapy and telehealth markets, announced today plans to inaugurate multi-state telehealth services by late March 2018 to Endeavor Plus Services, Inc. (“EPS”), a healthcare Third Party Administrator. We project that EPS could reach approximately 100,000 members throughout the next 18 months.  \n If EPS can reach these projected growth rates over the 18 months, it could generate and expand the offering of its services to PEO’s, MEWA’s, unions and the financial services industry reps, and easily reach at least 500,000 new members on a national level. The small group employer marketplace is estimated to have annual premiums of $377 million. Approximately 84% of the employers in this market uses traditional fully insured health plans sponsored by the Blue Cross, UnitedHealthcare, Aetna, Cigna and Anthem. With level funded health plans, which are accompanied by A-rated insurance carriers, EPS is growing rapidly by offering more employee benefits with lower premium costs. According to eWellness, this new agreement is anticipated to generate initially up to $4.2 million in annual re-occurring gross revenue for the Company. This level of sales is anticipated to allow the Company to gain cash flow positive operations during the middle of 2018.  Additionally, and if EPS were able to continue their projected growth rate over the next 12-18 months, that could generate at least 500,000 new members, which in turn could generate at least $100 million in re-occurring gross annual revenue to eWellness. EPS is a third-party administrator (TPA), which is an organization that processes insurance claims or certain aspects of employee benefit plans for small and medium sized companies. EPS is projecting to grow rapidly in the small group health insurance market which has annual premiums of over $384 billion per year.  Approximately 84% of this market is traditional full insurance. The company is expected to grow rapidly by offering these small employers the ability to self insure through excellent plan design and reinsurance. EWLL is excited to be chosen as their physical therapy gatekeeper as well as wellness pro...