eWellness Healthcare Corporation, provider of the PHZIO Platform for the physical therapy and telehealth markets, announces that it has signed a 5-year comprehensive physical therapy services agreement with healthcare plan administrator Endeavor Plus Services Inc (EPS).
According to eWellness in a media release, this new agreement is anticipated to generate initially up to $4.2 million in annual reoccurring gross revenue for the company. This level of sales is anticipated to allow the company to gain cash flow positive operations during the early part of 2018.
Additionally, if EPS is able to continue on its projected growth rate over the next 12 to 18 months, it could generate at least 500,000 new members, which in turn could generate at least $100 million in reoccurring gross annual revenue to eWellness.
EPS is described as a third-party administrator, which is an organization that processes insurance claims or certain aspects of employee benefit plans for small and medium sized companies.
eWellness’ comprehensive PT & wellness programs and consulting services include Concierge PT Medical Services, PreHabPT, PurePT, and PHZIO Comprehensive Wellness Program. These are anticipated to provide EPS with new products that will: (1) build new sales channels that increase their current health insurance business, and (2) create new revenue sources through the introduction of such products, per the release.
[Source(s): eWellness healthcare Corporation, Endeavor Plus Services Inc, Nasdaq GlobeNewswire]