NAPLES, Fla., Oct. 1, 2020 /PRNewswire/ -- HealthLynked Corp. (OTCQB: HLYK), a global healthcare network focused on care management of its members and healthcare technologies connecting doctors, patients and medical data, today announced its collaboration with Commonwealth Primary Care ACO ("Commonwealth"). HealthLynked and Commonwealth will develop an innovative program to seamlessly share patient healthcare data among multiple providers. The goal of the partnership is to improve patient care, decrease duplicative testing and fill information gaps that exist between multiple providers treating the same patient.
Without accurate and up-to-date medical information, healthcare providers are often at a disadvantage in providing the best care for their patients. Patients often undergo duplicate testing and have longer in-office wait times to obtain medical records and are subject to a process that often leads to additional and unnecessary follow up visits and delays in diagnosis and treatment.
As more patients are seeing their healthcare providers via telemedicine, coordinating care among healthcare providers is more important than ever. Both online patient evaluation and care management are now reimbursable billing codes for private insurance companies and for Medicare. Reimbursement for these services is based on medical record exchange between providers and patients, including time spent reviewing records with each patient. To facilitate this process, there are nine separate billable codes available to the offices supporting the effort with reimbursements ranging from $16 to $53. There is no limit on the number of times a patient's record can be reviewed and exchanged between a healthcare provider and patient.
The HealthLynked Network and patient engagement technology is uniquely designed to allow physicians to easily connect with patients, exchange medical information, and provide patient guidance in partnership with Commonwealth. We believe that this partnership will be a model for other ACOs to improve outcomes, reduce cost, and more effectively coordinate patient care.
"We are excited to employ new and effective methods to provide our clinicians the most complete and up-to-date data on their patients. Many times, patients are being treated by multiple physicians in multiple settings and HealthLynked will allow us to seamlessly analyze all encounter data, coordinate care more effectively and deliver the most effective care at the right time and place," said Dr. Mark Goldberg, a Commonwealth Member of the Board of Trustees.
HealthLynked's CEO, Dr. Michael Dent, stated, "Working with Commonwealth to fill data gaps in patient care will optimize patient care and improve practice efficiencies. We believe this is the first of many collaborations and will serve as a model to work with other ACO partners."
About HealthLynked Corp.
HealthLynked Corp. provides a solution for both patient members and providers to improve healthcare through the efficient exchange of medical information. The HealthLynked Network is a cloud-based platform that allows members to connect with their healthcare providers and take more control of their healthcare. Members enter their medical information, including medications, allergies, past surgeries and personal health records, in one convenient online and secure location, free of charge. Participating healthcare providers can connect with their current and future patients through the system. Benefits to in-network providers include the ability to utilize the HealthLynked patent pending patient access hub "PAH" for patient analytics. Other benefits for preferred providers include HLYK marketing tools to connect with their active and inactive patients to improve patient retention, access more accurate and current patient information, provide more efficient online scheduling and to fill last minute cancelations using the Company's "real time appointment scheduling" all within its mobile application. Preferred providers pay a monthly fee to access these HealthLynked services. For additional information about HealthLynked Corp., please visit www.healthlynked.com and connect with HealthLynked on Twitter, Facebook, and LinkedIn.
About Commonwealth Primary Care ACO, LLC
Commonwealth is based in Tempe, AZ and is a collaboration of independent providers who seek to enhance the quality of healthcare while decreasing costs and improving outcomes for patients in Arizona. Commonwealth is primary-care based, owned, operated, and governed to provide innovation in-care practices for the continuous success of its independent offices and for the benefit of the members it serves. To accomplish this, Commonwealth provides not only business support and best practices, it collects and analyzes data that helps physicians coordinate care and increase communication. Commonwealth also operates as a federally chartered accountable care organization that operates in the greater Phoenix metropolitan area, Flagstaff, Tucson and throughout AZ as a participant in the Medicare Shared Savings Program.
Forward Looking Statements
Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Our actual results, including as a result of any acquisitions, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by our management, and us are inherently uncertain. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. Certain risks and uncertainties applicable to our operations and us are described in the "Risk Factors" section of our most recent Annual Report on Form 10-K and in other filings we have made with the U.S. Securities and Exchange Commission. These reports are publicly available at www.sec.gov.
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SOURCE HealthLynked Corp.