KindlyMD is now providing nearly 80% statewide comprehensive insurance coverage
SALT LAKE CITY, UT / ACCESSWIRE / June 17, 2024 / KindlyMD, Inc. ("KindlyMD" or the "Company") (NASDAQ:KDLY), a patient-first healthcare and healthcare data company uniquely integrating traditional primary care and pain management strategies with integrated behavioral and alternative therapies, today announced it has received additional credentialing and is now proudly contracted with Blue Cross Blue Shield under Utah's top insurance payors.
The Company recently announced it became one of the first alternative medical treatment companies in the state to receive this status, with the contracts of Select Health, Medicare, and Medicaid. When considering the complexities of overlapping coverage many people have, according to the 2023 Utah Health Insurance Market Report, this equates to nearly 80% of the population coverage in Utah.
"The addition of Blue Cross Blue Shield, which is contracted under Utah's leading insurance payors reflects our commitment to transforming healthcare, and making a meaningful difference in people's lives," said KindlyMD founder and CEO, Tim Pickett, PA-C. "We are dedicated to ensuring accessible, quality behavioral healthcare for all our patients,and now ensuring that our services are covered and reimbursed by the leading insurance providers statewide, this broadens our ability to serve more patients with commercial medical insurance, leading to anticipated growth in patient volume and revenue across all our clinics."
According to provisional data from CDC's National Center for Health Statistics, nearly 108,000 people died of drug overdose in the U.S. in 2021. Over 80,000 of these deaths can be attributed to opioids, which prompted the government to initiate the largest opioid treatment grant funding ever. While 69% of Americans aged 45-64 use prescription medication, most of these prescriptions are not sufficient or are simply failing to offset the significant risks associated with long term side effects of such medications. Non-opioid treatment options, like medical cannabis, have become widespread in recent years, however they are excluded from meaningful clinical recommendations and guidelines, creating the unmet need for alternative pain treatments and a gap in the market that KindlyMD is aiming to fill.
KindlyMD is Utah's largest alternative pain treatment facility and has treated over 60,000 patients in its clinics to date. In cases where opioids are needed, complete care plans ensure safe use, appropriate dosing, weaning plans, and behavioral health support to curb risk. KindlyMD is also one of the largest providers of medical evaluation and management services related to treatment recommendations within the medical cannabis program in Utah. Importantly, KindlyMD healthcare professionals provide patients with medical cannabis education and information to help patients decide whether medical cannabis may be a beneficial alternative treatment option for them, as part of its patient-first approach. Patients retain complete discretion to obtain their own medical cannabis, and KindlyMD does not sell or advertise cannabis products.
About KindlyMD
KindlyMD? is a patient-first healthcare and healthcare data company uniquely integrating traditional primary care and pain management strategies with integrated behavioral and alternative therapies to offer patients comprehensive care and reduce the addiction and dependency of opioid use in the U.S. KindlyMD currently operates four centers including the largest alternative pain treatment center in Utah. With a focus on holistic pain management through its specialty outpatient clinical services, including, where appropriate, the recommendation of medical cannabis by KindlyMD healthcare providers, KindlyMD is providing better patient health outcomes.
For more information, please visit www.kindlymd.com.
Forward-Looking Statements
This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements can be identified by the use of words such as "should,' "may,' "intends,' "anticipates,' "believes,' "estimates,' "projects,' "forecasts,' "expects,' "plans,' and "proposes.' These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including, but not limited to, the statements made under the heading "Risk Factors" in KindlyMD, Inc.'s Annual Report on Form 10-K for the fiscal year ended December 31, 2022. KindlyMD, Inc. does not undertake any duty to update any forward-looking statements except as may be required by law. The information which appears on our websites and our social media platforms, including, but not limited to, Instagram and Facebook, is not part of this press release.
Investor Relations Contact:
Valter Pinto, Managing Director
KCSA Strategic Communications
(212) 896-1254
kindlymd@kcsa.com
SOURCE: KindlyMD, Inc.
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