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Skylight Health expands value-based care plans in Florida, The Canadian Business Journal

TORONTO, Sept. 15, 2022 (GLOBE NEWSWIRE) — Skylight Health Group Inc. (TSXV:SLHG) (“Skylight Health” or the “Company”) is a healthcare platform that combines technology and analytics to deliver patient value. Emphasis is placed on transitioning to base. Care to Promote Better Health Outcomes and Experiences in the United States today expanded one of its current Medicare Advantage (“MA”) plans from South Florida to Central Florida, expanding the reach of value-based care. We provide the latest information about

  • Skylight is currently contracted with Florida MA provider in South Florida.
  • That new amendment expands the current contract to three primary care practices in Central Florida, beginning January 2023.
  • An expansion of the current AvMed contract allows Skylight to begin enrolling Medicare members currently in the Central Florida market.
  • Skylight expects expanded coverage to contribute to increased MA membership in 2023.

Skylight Health continues to see opportunities to expand today and partner with new provider partners for MA value-based care across our Florida network. The company currently has four MA value-based care agreements in place, and future agreements are under negotiation. This is a positive step in expanding access for current and new AvMed members seeking primary care, as clinics can take more health plans and offer more options to their patients.

Further amendments to expand coverage include moving the current reimbursement model from a fee-per-service to a value-based care capitation fee that shares savings opportunities. We expect this to be an increase in current revenue generated under this agreement. This does not include projected growth from the newly added Central Florida location. This additional funding will allow us to provide more resources to support current and new MA members under our value-based care plans.

We expect qualifications to be completed in time for annual enrollment, which typically takes place between October and December of each calendar year. This will allow his three locations in Central Florida to begin accepting new MA members under this plan for an effective start in January 2023.

We are actively working on additional MA plans for 2023 and look forward to announcing further updates on these contracts in the coming weeks.

Subject to regulatory approval, the company has granted a total of 220,000 stock options and 167,500 RSUs to its directors and employees pursuant to its incentive stock option plan. These incentive stock options are exercisable for three years at $0.67 per share.

Subject to the terms and conditions of the Debt Settlement Agreement, the Company will issue to its creditors a total of 738,080 shares of common stock (each, a “common stock”) at a deemed price of $0.70 per common share. debt. The issuance of common stock to creditors under the debt settlement agreement is subject to approval by the TSX Venture Exchange. Common stock is subject to statutory resale restrictions that expire four months and one day from the date of issuance in accordance with applicable securities laws. All shares are subject to a holding period of 4 months.

About Skylight Health Group

Skylight Health Group (TSXV:SLHG) is a US healthcare platform that uses software and services to transform patients into value-based care models, driving better health outcomes and experiences. The Company operates a multistate health network of physical practices providing services from primary care, subspecialty, allied health, laboratory and diagnostic testing. The company focuses on transforming small, independent practices from traditional fee-for-service (FFS) models to value-based care through proprietary technology, data analytics, infrastructure and other tools. In the FFS model, payers (both corporate and government insurers) reimburse through an encounter-based approach. This will focus on the number of patients per day. In a value-based model of care, providers provide care aimed at keeping patients healthy and minimizing unnecessary medical costs that are not proven to keep patients healthy. This emphasizes quality over quantity. Through this model, Skylight Health can improve patient outcomes, reduce shipping costs, and enhance financial performance.

Forward-Looking Statements

This press release may contain projections, estimates or other information that may be considered forward-looking within the meaning of applicable securities laws. These forward-looking statements represent our current judgment, but are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements. These statements reflect only our opinion as of the date of this release. We undertake no obligation to revise or publish the results of revising these forward-looking statements in light of new information or future events. As used herein, words such as “look forward to,” “believe,” “continue,” and “build” or variations of such words and similar expressions identify forward-looking statements. It is intended to Subject to Canadian securities regulators and Canadian securities administrators, factors that could cause actual results to differ materially from those envisioned in the forward-looking statements contained herein. Often discussed in the documentation. Our website, skylighthealthgroup.com.

For more information, please visit our website or contact us below.

Investor Relations:
Jackie Kelly
[email protected]
416-301-2949

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.


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Skylight Health expands value-based care plans in Florida, The Canadian Business Journal

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