LocWolf
2 months ago
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health.
Naples, FL -- September 19, 2024 -- InvestorsHub NewsWire -- HealthLynked Corp. (OTCQB: HLYK), a leader in healthcare technology, is proud to announce its integration with Lyric Health, a comprehensive virtual care provider. This partnership enables HealthLynked to expand its telehealth services nationwide, offering patients in all 50 states convenient access to healthcare anytime, anywhere.
Introducing Virtual Urgent Care: Accessible Healthcare Within 20 Minutes
As part of this expansion, HealthLynked has launched its new Virtual Urgent Care service, available 24/7 in all 50 states. Members can now connect with a licensed physician within an average of 20 minutes, ensuring timely care for non-emergency medical concerns without needing to leave their homes. This service is ideal for addressing urgent medical needs, such as infections, minor injuries, and other health issues, offering a swift and convenient alternative to in-person visits.
Upcoming Launch of Virtual Primary Care
Building on the success of the Virtual Urgent Care, HealthLynked is set to launch its Virtual Primary Care service. This next phase will enable users to schedule appointments with primary care physicians for future dates, establishing ongoing relationships with virtual doctors for continuous care management. This integration ensures a seamless healthcare experience, as all information entered into the HealthLynked profile will be readily available to both urgent care and primary care providers. Furthermore, a summary report of each virtual visit will be stored in the patient's HealthLynked medical record archive, providing a comprehensive view of their healthcare history.
Comprehensive Virtual Care Suite
Through its partnership with Lyric Health, HealthLynked offers a broad range of virtual healthcare services, providing members with 24/7 access to licensed professionals in the following areas:
Primary Care: Personalized care from a dedicated provider, including management of chronic conditions, routine check-ups, and preventive care.
Urgent Care: Immediate, round-the-clock care for non-emergency situations, reducing the need for in-person visits.
Mental Health: Support for conditions like depression, anxiety, and other psychological concerns, with consultations from licensed mental health professionals.
Dermatology: Treatment plans for skin conditions such as acne, eczema, and more, accessible from the comfort of home.
Specialty Referrals: Quick and easy access to specialists for conditions requiring advanced care.
Pet Care: 24/7 access to veterinary consultations, ensuring that even pets receive the care they need.
This collaboration not only enhances the availability of specialized services but also integrates with HealthLynked's medical record storage, prescription voucher program, and care navigation to support a seamless healthcare experience for patients.
Affordable and Accessible Telehealth for All
HealthLynked provides a flexible approach to telemedicine, offering services directly to members without the need for employer-provided plans. Users can download the HealthLynked app for free and access telemedicine visits at the standard rate of $70 per visit. For those looking for additional savings, a subscription option is available: for just $12 per month or $120 per year, subscribers receive a discounted rate of $50 per telemedicine visit. This pricing structure makes high-quality healthcare both accessible and affordable for all members.
Executive Insights
Dr. Michael Dent, CEO of HealthLynked, remarked, "Our integration with Lyric Health and the launch of our Virtual Urgent Care service is a game-changer for our members. We are now able to offer an unparalleled range of healthcare services to patients nationwide, ensuring that quality care is just a click away, no matter where they are. Our upcoming Virtual Primary Care service will further enhance this experience, providing continuity of care for our members."
Wayne Orchard, EVP and Partner of Lyric Health added, "We are excited to partner with HealthLynked to bring our full suite of virtual care services to a broader audience. Our mission has always been to make healthcare more inclusive and accessible, and this partnership helps us achieve that on a national scale."
Download the HealthLynked App
To start accessing these services, members can download the HealthLynked app from the Apple App Store or Google Play Store. The app provides an easy-to-use interface for scheduling appointments, consulting with providers, and managing health records, all from the convenience of your smartphone.
About HealthLynked
HealthLynked Corp. is committed to improving global healthcare by facilitating the efficient exchange of medical information between patients and providers. Our network empowers members to actively manage their healthcare through a centralized and secure platform.
For more information about HealthLynked Corp., please visit www.healthlynked.com. Stay connected with us on Facebook, Twitter, Instagram, and LinkedIn.
About Lyric Health
Lyric Health is an award-winning virtual care provider offering a comprehensive suite of virtual care services, including virtual urgent care, virtual primary care, behavioral health, dermatology, care coordination, and care navigation services. Our solutions mitigate risk, reduce healthcare expenses, improve efficiency and effectiveness, and produce favorable outcomes while delivering a great experience for our clients. J.D. Power has recognized Lyric as a leading telehealth service provider for three consecutive years in 2021, 2022, and 2023. Lyric is the virtual care service solution for its parent company MyTelemedicine.
Contact Information:
HealthLynked Corp.
Public Relations: pr@healthlynked.com
Investor Relations: Michael Paisan, Director of Investor Relations
Phone: 1-800-928-7144 ext 123
Website: www.healthlynked.com
LocWolf
3 months ago
HealthLynked Corp. Announces Second Quarter and First Half 2024 Results: Continued Cost Reductions Set the Stage for Strategic Shift to App-Based Technology Services
NAPLES, FL -- August 16, 2024 -- InvestorsHub NewsWire -- HealthLynked Corp. (OTCQB: HLYK), a leading provider of healthcare networking and technological innovation, has reported its financial results for the three- and six-month periods ending June 30, 2024. Reflecting the company's ongoing efforts to streamline operations and transition its revenue streams from legacy clinical operations to app-based services, HealthLynked achieved significant cost reductions, leading to an 8% quarter-over-quarter improvement in its loss from operations.
Financial Highlights:
Revenue: The company reported revenue of $0.78 million in the second quarter of 2024, a 21% decrease from $1.00 million in the first quarter of 2024, and a 53% decline from $1.70 million in the second quarter of 2023. For the first half of 2024, revenue totaled $1.80 million, down 7% from $1.94 million in the trailing six-month period (October 2023 to March 2024) and 48% compared to $3.46 million in the first half of 2023. This decline is attributed to adjustments in clinical staffing within the Health Services Division, aligning clinical operating expenses with reduced physician availability.
Expense Reductions: Continuing its strategic focus on cost control, HealthLynked reduced practice operating expenses in its Health Services Division by 42% to $0.90 million in the second quarter of 2024, compared to $1.55 million in the second quarter of 2023. For the first half of 2024, these expenses were reduced by 37% to $1.97 million, down from $3.13 million in the first half of 2023. Overall, total operating expenses decreased by 25% in Q2 2024 compared to Q2 2023 and by 24% in the first half of 2024 compared to the same period in 2023.
Loss from Operations: The loss from operations was $1.08 million in Q2 2024, an 8% improvement over the $1.18 million loss in Q1 2024, though this represents a 35% increase compared to the $0.80 million loss in Q2 2023.
Net Income/Loss: The net loss was $1.54 million in Q2 2024, a 21% increase from a net loss of $1.39 million in Q1 2024, and a 54% increase from a $1.00 million net loss in Q2 2023. For the first half of 2024, the net loss was $2.93 million, compared to a net income of $0.45 million in the first half of 2023, which benefited from gains related to the sale of ACO Health Partners in 2023.
Strategic Developments:
HealthLynked has taken significant steps in 2024 to expand its service offerings and enhance value for its members. A major milestone was the signing of partnerships that now allow HealthLynked to offer nationwide telemedicine services. Previously available only in Florida, this expansion enables HealthLynked to provide convenient, remote healthcare services to a broader population across the United States, aligning with the company's mission to improve healthcare access and delivery.
In addition to expanding telemedicine services, HealthLynked has partnered with RxSpark to offer discounts on prescription drugs through pharmacy vouchers, in a program similar to GoodRx. This partnership will enable HealthLynked members to access significant savings on their medications, further enhancing the comprehensive healthcare solutions offered by the HealthLynked Network.
Strategic Outlook:
HealthLynked remains committed to revolutionizing global healthcare delivery. The company is transitioning its focus from clinical operations to app-based services, starting in 2024. By leveraging its patient-centric network, HealthLynked aims to significantly expand its membership base and enhance healthcare delivery for both patients and providers. The strategic shift towards app-based healthcare solutions, including telehealth services, AI-driven personalized healthcare guidance, and seamless appointment booking, positions HealthLynked for substantial growth and improved healthcare outcomes.
Executive Insights:
Dr. Michael Dent, CEO of HealthLynked, commented on the company's strategic direction: "Our continued focus on cost reduction has been crucial in setting a strong foundation for our transition towards app-based technology services. Additionally, our recent partnerships, which have expanded our telemedicine services nationwide and introduced prescription discounts through RxSpark, are pivotal steps in enhancing our offerings. We believe that these strategic initiatives will unlock significant growth opportunities and lead to better healthcare outcomes for our members."
About HealthLynked
HealthLynked Corp. is dedicated to improving global community health. Our mission is to transform healthcare into a system marked by enhanced efficiency and improved care for all, leveraging cutting-edge technology and connectivity that places patients at the heart of their healthcare journey. The HealthLynked Network is a sophisticated cloud-based platform designed to facilitate the seamless exchange of medical information among patients and healthcare providers. By centralizing and securing medical data, the HealthLynked Network empowers patient members to manage their healthcare with unparalleled ease and efficiency, while offering providers an environment where they can gain valuable insights into practice operations, enhance patient compliance, and optimize scheduling.
For more information about HealthLynked Corp., including details on how to become part of our growing community, please visit our website at www.healthlynked.com. Connect with us on social media through Twitter, Facebook, Instagram, and LinkedIn to stay updated on our latest innovations and services. Download the HealthLynked App for Apple or Android.
Forward-Looking Statements & Risk Factors
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.
Investor Relations Contact:
Michael Paisan
Director of Investor Relations
Phone: 1-800-928-7144 ext 123
Email: ir@healthlynked.com
Website: www.healthlynked.com
HealthLynked Corp.
Selected Consolidated Financial Data
Three and Six Months Ended June 30, 2024 and 2023
Latest 8-K https://www.sec.gov/ix?doc=/Archives/edgar/data/1680139/000121390024068949/ea0210648-10q_health.htm
LocWolf
3 months ago
HealthLynked Partners with RxSpark to Enhance Medication Access and Management for Patients
Naples, FL -- August 12, 2024 -- InvestorsHub NewsWire -- HealthLynked Corp. (OTCQB: HLYK), a leader in healthcare technology and patient engagement solutions, is excited to announce a strategic partnership with RxSpark, a platform dedicated to providing affordable prescription medications and healthcare services. This collaboration aims to enhance the patient's experience by integrating HealthLynked's advanced healthcare network with RxSpark's pharmacy discounts and prescription price comparison tool.
HealthLynked users can access significant discount Vouchers on prescription medications for free by downloading the HealthLynked app or visiting the HealthLynked website. This partnership ensures patients have seamless access to medications at competitive prices.
For more information and to explore prescription savings, please visit HealthLynked's website.
A Unified Approach to Healthcare and Medication Management
The partnership between HealthLynked and RxSpark represents a significant advancement in patient-centered care, leveraging both companies' strengths to offer a comprehensive healthcare solution. HealthLynked's sophisticated, cloud-based platform facilitates the seamless exchange of medical information among patients and healthcare providers, enhancing care coordination and efficiency. RxSpark's powerful technology includes localized price comparison based on zip code, and a pharmacy discount program offering some of the most competitive prices in the USA. RxSpark offers access to over 50,000 medications through its program. Through this exciting integration, HealthLynked members can now find savings of up to 90% off their medications, as well as easily manage their prescriptions and ensure timely access to necessary medications.
Key Benefits of the Partnership:
Enhanced Prescription Management: Patients can now use HealthLynked's platform to manage their prescriptions more efficiently. By integrating RxSpark's services, they can compare prices across various pharmacies, ensuring they receive the most cost-effective options available.
Improved Access to Affordable Medications: With RxSpark's vast network of participating pharmacies and fair drug pricing, patients will have greater access to their prescribed medications, reducing the barriers often associated with prescription fulfillment.
Streamlined Healthcare Experience: This partnership aims to create a more cohesive healthcare journey for patients by combining HealthLynked's medical information management capabilities with RxSpark's next-generation pharmacy savings platform. Patients can now manage their health records, schedule appointments, and handle their prescription needs all in one place.
Cost Savings for Patients: RxSpark's price comparison feature will help patients save on their medications, addressing the rising costs of healthcare and ensuring affordability. HealthLynked members can take advantage of these savings directly through their HealthLynked accounts.
Innovating Healthcare for a Better Future
Dr. Michael Dent, CEO of HealthLynked, expressed his enthusiasm for the partnership: "At HealthLynked, we are dedicated to revolutionizing the healthcare experience for our patients. Partnering with RxSpark allows us to provide an integrated solution that addresses a critical aspect of healthcare—medication management. This collaboration will not only enhance our platform's capabilities but also ensure our patients have access to affordable and timely medications, ultimately improving their health outcomes."
John Casson, CEO and Founder of RxSpark, added, "We are thrilled to join forces with HealthLynked. This partnership aligns perfectly with our mission to make prescription medications more affordable and accessible. By integrating our health technology with HealthLynked's innovative healthcare platform, we can offer patients an unprecedented level of convenience and savings, helping them manage their health more effectively."
About HealthLynked Corp.
HealthLynked Corp. is committed to transforming global healthcare through technology and connectivity. Our mission focuses on two main goals: enhancing healthcare efficiency and fostering a patient-centric network to accelerate medical discoveries and cures. Our platform empowers patients with control over their medical information, facilitating collaboration and breakthroughs in health and wellness.
The HealthLynked Network is a cloud-based platform enabling seamless exchange of medical information among patients and healthcare providers. By centralizing and securing medical data, members can manage their healthcare with ease and efficiency.
HealthLynked enhances patient care by improving communication and access to critical health information. Providers can claim their profiles, access our suite of marketing tools, and gain valuable insights into practice operations.
We prioritize the ethical management of healthcare data, ensuring the privacy and security of our members' information. HealthLynked does not sell healthcare data.
Join us in our journey towards a healthier future. Download the HealthLynked app on Apple or Android devices and take control of your healthcare today. Visit www.healthlynked.com for more information and connect with us on Twitter, Facebook, Instagram, and LinkedIn.
About RxSpark
RxSpark is a comprehensive health platform that offers a next-generation pharmacy discount program and other healthcare services. By providing a price comparison tool and some of the most competitive and fair prescription pricing in the USA, RxSpark ensures patients receive their medications at the best possible prices. The platform is dedicated to improving access to affordable healthcare and making medication management more efficient for patients across the United States.
Investor Relations:
HealthLynked Corp.
Michael Paisan
Director of Investor Relations
mpaisan@healthlynked.com
800-928-7144
https://ih.advfn.com/stock-market/USOTC/healthlynked-qb-HLYK/stock-news/94361519/healthlynked-partners-with-rxspark-to-enhance-medi
LocWolf
4 months ago
HealthLynked Expands Telemedicine Nationwide
Naples, FL -- July 17, 2024 -- InvestorsHub NewsWire -- HealthLynked Corp. (OTCQB: HLYK), a global leader in healthcare network technology, today announced a strategic partnership with national telemedicine provider HC Smart, Inc. to extend HealthLynked's telemedicine services across the United States. This expansion, set to go live within the next four weeks, is expected to significantly enhance HealthLynked's offerings and accessibility.
Expansion Overview
This pivotal collaboration will integrate HC Smart's advanced telemedicine capabilities into HealthLynked's existing platform, providing nationwide coverage to all HealthLynked members. By offering reduced-cost telemedicine consultations as part of HealthLynked's membership program, this initiative ensures that HealthLynked Network members can access high-quality healthcare from the comfort of their homes. Previously confined to Florida, this nationwide rollout marks a significant milestone in HealthLynked's mission to make healthcare more accessible and affordable.
Enhanced Service Offerings
HealthLynked's telemedicine expansion includes a comprehensive range of services designed to meet diverse patient needs:
Primary Care Consultations: Accessible general health consultations with certified primary care providers.
Specialist Services: Including counseling, psychiatry, and dermatology, ensuring specialized care is available to all members.
Flexible Appointment Scheduling
HealthLynked allows for booking both in-office and telemedicine appointments, offering patients the flexibility to choose the most convenient option. This integration streamlines the process, making it as simple to book a medical appointment as reserving a table at a favorite restaurant.
Membership Benefits
Premium members will enjoy discounts on telemedicine services and access to various membership plans. The current membership plan includes concierge services such as medical profile setup, nurse chat, online appointment booking, medical record management, and more. At this membership level, telemedicine services are expected to launch at $50 per call, a significant saving compared to the typical cost of an in-office visit or walk-in clinic, which can range from $200 to $300.
HealthLynked plans to introduce programs offering discounted rates on telemedicine visits, allowing users to save by purchasing multiple visits upfront. These packages cater to various healthcare needs, enabling users to choose a plan based on their anticipated usage over the course of a year. By buying more visits in advance, users can effectively manage healthcare costs while ensuring convenient access to medical care.
Executive Statements
Dr. Michael Dent, CEO of HealthLynked, commented: "The healthcare landscape is rapidly evolving as patients demand more affordable and convenient healthcare solutions. Traditional methods of seeing a provider often involve numerous value-eroding steps, such as finding a doctor that is located nearby, making an appointment, gathering medical records, and ensuring the doctor accepts their insurance. HealthLynked has addressed these pain points by simplifying the process of finding a doctor, booking appointments, and managing medical records. With the expansion of our telemedicine service, we are increasing the value-capturing solutions that allow patients to see a healthcare provider more conveniently and at a lower cost. Unlike other telemedicine providers, HealthLynked connects in-office appointments with telemedicine visits, allowing patients to seamlessly share their care with local healthcare providers after a remote consultation."
Edward Mandel, CEO of HC Smart, added: "We are thrilled to partner with HealthLynked to bring our advanced telemedicine capabilities to a broader audience. This collaboration aligns with our mission to innovate and enhance healthcare delivery, ensuring patients receive timely and efficient care regardless of their location. Together, we are setting new standards for telemedicine services in the United States."
Investor Insights
For investors, this expansion represents a significant growth opportunity in the expanding telehealth market. By leveraging HealthLynked's robust data integration and AI capabilities, the company not only differentiates itself but also is well-positioned to capture a larger market share from pure monoline telemedicine providers. According to a year-end 2023 research report by Grandview Research, the telemedicine market is projected to grow at a compound annual growth rate (CAGR) of 24.3%, reaching $286 billion by 2030, underscoring the substantial growth potential for HealthLynked's innovative solutions.
About HC Smart
HC Smart, Inc. is a national expert and service provider in telemedicine and health concierge services. Their mission is to deliver optimized health concierge solutions to save healthcare costs, provide immediate care, and promote wellness. They offer services such as 24/7 access to licensed physicians via phone, email, or video, avoiding crowded waiting rooms, and treating common ailments from home. Their offerings include the MD Hotline™ Concierge for individuals and groups, and a personal health and wellness program.
For more details, visit HC Smart.
About HealthLynked
HealthLynked Corp. is dedicated to improving global community health. Our mission is to transform healthcare into a system marked by enhanced efficiency and improved care for all, leveraging cutting-edge technology and connectivity that places patients at the heart of their own healthcare journey. The HealthLynked Network is a sophisticated, cloud-based platform designed to facilitate the seamless exchange of medical information among patients and healthcare providers. By centralizing and securing medical data, the HealthLynked Network allows patient members to take an active role in managing their healthcare with unparalleled ease and efficiency, while offering providers an environment where they can gain valuable insights into practice operations, enhance patient compliance and optimize scheduling.
For more information about HealthLynked Corp., including details on how to become a part of our growing community, please visit our website at www.healthlynked.com. Connect with us on social media through Twitter, Facebook, Instagram, and LinkedIn to stay updated on our latest innovations and services. Download the HealthLynked App for Apple or Android.
Forward-Looking Statements & Risk Factors
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.
Investor Relations Contact:
Michael Paisan, Director of Investor Relations
Phone: 1-800-928-7144, ext 123
Email: ir@healthlynked.com
Website: www.healthlynked.com
https://ih.advfn.com/stock-market/USOTC/healthlynked-qb-HLYK/stock-news/94207499/healthlynked-expands-telemedicine-nationwide
LocWolf
5 months ago
We got an update on news today......
https://investors.healthlynked.com/presstype/healthlynked-introduces-ai-powered-chat-function-to-enhance-healthcare-accessibility/
NAPLES, Fla., May 28, 2024 (GLOBE NEWSWIRE) — via IBN — HealthLynked Corp. (OTCQB: HLYK), a leading innovator in healthcare technology, is thrilled to announce the launch of its new AI-powered chat function designed to assist patients in finding healthcare providers across the country. This advanced feature will significantly enhance the effectiveness of the HealthLynked Concierge Team, reducing wait times and offering 24/7 service to users.
The new AI chat bot will provide instant answers to customer questions and assist in locating healthcare providers by name, specialty, or location. Over the next few months, HealthLynked plans to integrate its comprehensive healthcare provider database with the AI system, ensuring users can access up-to-date information on medical professionals nationwide. If the AI is unable to answer a query, the chat will be seamlessly transferred to a live representative.
Dr. Michael Dent, CEO of HealthLynked, stated, “Our new AI chat function is a testament to our commitment to leveraging cutting-edge technology to improve healthcare accessibility. By integrating AI into our platform, we can provide more efficient and timely support to our users, ensuring they receive the care they need without unnecessary delays.”
Chris Hall, CTO of HealthLynked, added, “The integration of AI into our concierge service is a significant milestone for HealthLynked. This technology will streamline our operations, reduce wait times, and enhance the overall user experience. We are excited to continue developing and deploying advanced AI tools to meet the evolving needs of our users.”
As HealthLynked continues to expand its AI capabilities, the company anticipates delivering more effective, timely, and cost-efficient solutions to users seeking healthcare answers. This innovation underscores HealthLynked’s mission to revolutionize patient care through data integration and advanced technology.
For more information about HealthLynked and its new AI chat function, please visit HealthLynked’s website or contact HealthLynked at IR@healthlynked.com.
About HealthLynked
HealthLynked Corp. is dedicated to improving global community health. Our mission unfolds in two pivotal goals: First, to transform healthcare into a system marked by enhanced efficiency and improved care for all, leveraging cutting-edge technology and connectivity. Second, to forge a patient-centric network that not only places patients at the heart of their healthcare journey but also mobilizes their participation to accelerate medical discoveries and the development of cures for diseases that impact humanity. This pioneering model empowers individuals with unparalleled access to and control over their medical information, fostering a collaborative environment where every patient contribution can spearhead breakthroughs in health and wellness. Through these concerted efforts, we aim to secure a healthier future for generations to come.
At the heart of our endeavors is the HealthLynked Network, a sophisticated, cloud-based platform designed to facilitate the seamless exchange of medical information among patients and healthcare providers. By centralizing and securing medical data — including medications, allergies, past surgeries, and personal health records — our members are empowered to take an active role in managing their healthcare with unparalleled ease and efficiency.
HealthLynked is a beacon for healthcare providers, offering an ecosystem that enhances patient care through improved communication and access to critical health information. Our network fosters an environment where providers can gain valuable insights into practice operations, enhancing patient compliance and optimizing scheduling. Providers are encouraged to join our network by updating their profiles, thereby accessing HealthLynked’s suite of tools designed to decrease patient wait times, increase patient volumes, and foster meaningful engagements with patients.
A cornerstone of our philosophy is the ethical management of healthcare data. HealthLynked does not sell any healthcare data, ensuring the privacy and security of our members’ information at all times.
We invite you to join us in this journey towards a healthier future. Download the HealthLynked app today, available on both Android and Apple devices, and take the first step in taking control of your healthcare.
For more information about HealthLynked Corp., including details on how to become a part of our growing community, please visit our website at www.healthlynked.com.
Download for Apple
Download for Android
Together, we are paving the way for a future where healthcare is more accessible, efficient, and interconnected than ever before. Welcome to the next generation of healthcare. Welcome to HealthLynked.
For more about HealthLynked Corp., please visit www.healthlynked.com. Stay connected with HealthLynked on Twitter, Facebook, Instagram, and LinkedIn.
LocWolf
7 months ago
HealthLynked Announces Fourth Quarter and Full Year 2023 Results Highlighted by 70% Reduction in Net Loss for Q4
NAPLES, FL -- April 2, 2024 -- InvestorsHub NewsWire -- HealthLynked Corp. (OTCQB: HLYK), a leader in healthcare networking and technological innovation, announced its financial results for the fourth quarter and full year ended December 31, 2023. With strategic advancements and its focus on core healthcare technologies and networking capabilities, HealthLynked achieved a significant 70% reduction in net loss for the fourth quarter, highlighting a period of fiscal management and strategic positioning for future growth.
Full Year 2023 Financial Results
Strategic Focus and Technological Innovations Pave the Way for an Optimistic Outlook: HealthLynked reported a modest 2% revenue decrease to $5.72 million, attributed in part to the retirement of, and contracts ending for, certain key physicians and the onboarding phase of new physicians at several clinical sites. Despite these temporary staffing adjustments, HealthLynked's strategic direction and the release of the new pay app version 3.2.0 quartering first quarter 2024 create a new opportunity for core revenue growth. The forthcoming integration of ARI, our AI-driven healthcare guide, into the newly released HealthLynked app represents a pivotal stride towards leveraging technology to enhance our healthcare network's effectiveness.
Operational Efficiency through Key Enhancements: Optimization of operational expenses led to a 52% cut in operational losses, demonstrating HealthLynked's commitment to financial stewardship and operational efficiency. Strategic restructuring resulted in a 19% reduction in operating expenses. Exclusive of impairment charges, the operational loss declined by 35%. Our targeted efforts to refine operations and strategically invest in our healthcare network and technology capabilities have poised us for sustainable growth and a solid financial footing.
Solid Financial Health from Strategic Divestiture: The strategic sale of ACO Health Partners, alongside the gains realized from this initiative, contributed significantly to our financial restructuring, bringing in $3.76 million. This move underscores our focus on our core competencies in healthcare networking and technological innovation, significantly bolstering our liquidity and financial resilience.
Dramatic Net Loss Reduction: A significant decrease in net loss to $1.01 million in 2023 from $8.82 million in 2022 illustrates the positive impact of our strategic divestitures, operational efficiencies, and profit stabilization despite temporary staffing changes. The integration of cutting-edge technologies and our strategic focus creates a path forward of continued growth and operational improvement.
Fourth Quarter 2023 Financial Results
Revenue Commitment to Core Technologies Following Staffing Transition: Revenue declined to $0.93 million in Q4 2023, primarily as a result of temporary physician staffing adjustments along with associated physician pay. This new baseline in cost prepares HLYK for improved profitability in the second half of 2024 with an expected operating profit by the end of the fiscal year. The introduction of our new pay app version 3.2.0 is indicative of our focus on achieving profitability and technological leadership in the healthcare sector by the end of 2024.
Strategic Initiatives Lead to Reduced Operating Loss: A 73% reduction in operating loss to $1.11 million in Q4 2023, demonstrating our resilience and strategic focus during a period of staffing transition. Exclusive of a $2.75 million Q4 2022 impairment charge, the operating loss decline was 21%. This underscores our commitment to operational efficiency and financial health.
Substantial Improvement to Net Loss Reflects Strategic Strength: A 70% reduction in net loss to $1.29 million in Q4 2023, underscores the effectiveness of our strategic initiatives, showcasing our adaptability and commitment to navigating towards long-term financial sustainability and growth.
Executive Insights
Dr. Michael Dent, CEO of HealthLynked, stated, "The recent launch of our pay app version 3.2.1 and the forthcoming integration of ARI mark significant milestones in our mission to transform healthcare delivery and drive additional revenues. Despite temporary staffing transitions, our focus on our core healthcare network and technological innovations positions us for substantial growth and profitability. We continue to grow our user base while integrating technology that improves patient care and the efficient exchange of medical information between doctors and patients."
George O'Leary, CFO of HealthLynked, added, "Our strategic decisions throughout 2023 have laid a solid groundwork for growth. By concentrating on our core technologies and healthcare network, HealthLynked is poised to advance more profitably, continuing to innovate and lead in the healthcare sector."
HealthLynked's dedication to driving healthcare innovation through strategic focus and technological advancement remains strong. We are grateful for the continued support of our investors and stakeholders as we navigate these transitions and stride towards a future marked by growth, innovation, and enhanced healthcare outcomes.
About HealthLynked
HealthLynked Corp. is dedicated to improving global community health. Our mission unfolds in two pivotal goals: First, to transform healthcare into a system marked by enhanced efficiency and improved care for all, leveraging cutting-edge technology and connectivity. Second, to forge a patient-centric network that not only places patients at the heart of their healthcare journey but also mobilizes their participation to accelerate medical discoveries and the development of cures for diseases that impact humanity. This pioneering model empowers individuals with unparalleled access to and control over their medical information, fostering a collaborative environment where every patient contribution can spearhead breakthroughs in health and wellness. Through these concerted efforts, we aim to secure a healthier future for generations to come.
At the heart of our endeavors is the HealthLynked Network, a sophisticated, cloud-based platform designed to facilitate the seamless exchange of medical information among patients and healthcare providers. By centralizing and securing medical data — including medications, allergies, past surgeries, and personal health records — our members are empowered to take an active role in managing their healthcare with unparalleled ease and efficiency.
HealthLynked is a beacon for healthcare providers, offering an ecosystem that enhances patient care through improved communication and access to critical health information. Our network fosters an environment where providers can gain valuable insights into practice operations, enhancing patient compliance and optimizing scheduling. Providers are encouraged to join our network by claiming their profiles, thereby accessing HealthLynked's suite of marketing tools designed to foster meaningful engagements with patients.
A cornerstone of our philosophy is the ethical management of healthcare data. HealthLynked does not sell any healthcare data, ensuring the privacy and security of our members' information at all times.
We invite you to join us in this journey towards a healthier future. Download the HealthLynked app today, available on both Android and Apple devices, and take the first step in taking control of your healthcare.
For more information about HealthLynked Corp., including details on how to become a part of our growing community, please visit our website at www.healthlynked.com.
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Together, we are paving the way for a future where healthcare is more accessible, efficient, and interconnected than ever before. Welcome to the next generation of healthcare. Welcome to HealthLynked.
For more about HealthLynked Corp., please visit www.healthlynked.com. Stay connected with HealthLynked on Twitter, Facebook, Instagram, and LinkedIn.
Forward-Looking Statements & Risk Factors
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.
For further information, please contact:
HealthLynked Corp
Public Relations
Email: pr@healthlynked.com
Investor Relations:
Michael Paisan, Director of Investor Relations
Phone: 1-800-928-7144, ext 123
Website: www.healthlynked.com
HealthLynked Corp.
Selected Consolidated Financial Data
Year and Quarter Ended December 31, 2023, and 2022
https://ih.advfn.com/stock-market/USOTC/healthlynked-qb-HLYK/stock-news/93589555/healthlynked-announces-fourth-quarter-and-full-year