HealthLynked Announces Medical Membership Program Initial Results

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Dec 27, 2022, 08:00 ET

Naples Center for Functional Medicine, a subsidiary of HealthLynked, reports 91% participation within the practice with over half of patients reporting

NAPLES, Fla., Dec. 27, 2022 /PRNewswire/ -- HealthLynked (HealthLynked Corp.), a global healthcare network focused on care management of its members and a provider of healthcare technologies that connect doctors, patients, and medical data, announced that its subsidiary Naples Center for Functional Medicine has reported initial results of its Medical Membership and Concierge programs. Existing patients have until December 31, 2022 to join either program. To date, over 50% of patients have decided, with 79% participation in the Medical Membership and Concierge programs, 12% electing to continue with the practice's newly added physician, Dr. Lina Sakr, and just 9% undecided or leaving the practice. With the practice's current patient wait list, this 9% will be recovered rather quickly.

From a financial perspective, 399 patients have signed up for Medical Membership at $1,500 per year, and an additional 7 patients have signed up for the limited silver and gold Concierge levels, with only 8 remaining slots available. The total incremental annualized revenue received to date from the Medical Membership and Concierge programs is over $500,000, with approximately 50% of existing patients still to decide on participation before the end of 2022.

The practice's fee for service rate increased by 10% on December 1, 2022. Any patient signing up by November 30, 2022 locked in the previous lower rate for the next twelve months.

George O'Leary, HealthLynked's CFO, stated, "We are extremely pleased with the 91% participation to date. We saw a large increase in memberships during the last week of November and anticipate another large increase at the end of December, when the program signup for existing patients completes."

About HealthLynked

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, Instagram, and LinkedIn.

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.

HLYK Contact:
George O'Leary
Chief Financial Officer
[email protected]
+1 (800)-928-7144, ext. 103

SOURCE HealthLynked Corp.