USA Equities Corp. (OTCQB: USAQ) Experiences Financial, Operational Growth Amid Broad Digitalization of Healthcare
In a recent interview, Troy Grogan, CEO of USA Equities Corp. (OTCQB: USAQ), discussed growing demand for safe, efficient, digital healthcare and its favorable impact on the Company’s client base and business portfolio.
USAQ’s business model generates recurring revenue for both the Company and its physician clients, while its remote therapeutic management technology meets increasing demand for virtual healthcare.
According to research firm Statista, the market for digital healthcare will top $150 billion by 2025. USAQ is favorably aligned with this digital revolution, supported by its remote-patient therapeutic management technology designed to aid and provide solutions for the digital health services market.
As digital healthcare grows in scope and application, USAQ is experiencing growth in its own financial performance. The Company achieved 2Q21 sequential revenue growth of 50% to approximately $456,219, along with gross profit of $207,717, an increase of 56% over 1Q2021. This growth highlights the attractiveness of USAQ’s digital medicine offerings to medical practitioners.
About USA Equities Corp. (OTCQB:USAQ)
- Emerging growth, medical device technology and software-as-service provider demonstrating increasing relevance in post-pandemic care.
- Digital, value-based tools proactively address chronic disease and provide preventive care.
- Proprietary technology and recurring revenue business model are favorably aligned with industry growth drivers, including increased acceptance of digital medicine and virtual care, particularly as a result of COVID-19.
- Successful 1H FY21 and strong 2Q21 results demonstrate solid growth in client base and product portfolio.
- Scalable platform can support additional digital medicine tools for nutrition, fitness and quality of life, such as sleep, pain, anxiety, stress and depression.
- Equity research firm Litchfield Hills Research LLC recently issued a “Buy” rating on USAQ, along with a $5 price target.
USAQ’s approach combines artificial intelligence and clinically proven digital assessments of chronic conditions and health behaviors,” stated Grogan. “This enables targeted solutions and a compelling customer value proposition. The value of such digital medicine technology is being increasingly validated in our financial results and recent capital raise, as well as through growth in our customer base, geographic footprint and industry visibility” stated Grogan.
The heightened need of digital medicine and virtual care, particularly following the COVID-19 pandemic, continues to fuel the value and demand for timely, accurate and efficient digital health solutions.
In 2019, The Centers for Medicare & Medicaid Services (CMS) created new RPM (Remote Physiological Monitoring) codes, marking a major advance in digital health coverage to improve care delivery, outcomes and cost management. The CMS is now proposing to advance the use of digital health tools to provide clinicians a more comprehensive data set of their patients’ health conditions. To this accord, CMS has unveiled a new category of digital health services called Remote Therapeutic Monitoring (RTM), which compliments the existing suite of RPM codes covered under Medicare. RTM codes monitor health conditions such as musculoskeletal system status, respiratory system status, medication adherence and therapy response, and as such, allow non-physiologic data to be collected.
“From an industry perspective, the government and healthcare insurers see the economic benefits of using software and digital technologies to identify and manage chronic conditions,” said Grogan. “The new codes reduce demands and save practitioners time – both of which are crucial in today’s overwhelmed healthcare industry. Integrating these new codes in our platform, USAQ is well-positioned to further strengthen our proprietary medical device technology and software platform as well as grow our recurring revenue business model.”
Acquisitions and industry partnerships also drive USAQ’s growth momentum. In 2Q21, the Company acquired the assets of AllergiEnd®, a manufacturer FDA-cleared diagnostic equipment and products that allow primary care providers to diagnose and treat many common chronic allergies in their offices. The acquisition provides USAQ the opportunity to fully integrate and leverage these products across its marketing platform, customer relationships and cost structure.
USAQ has also secured several medical professional industry relationships, including a distribution agreement with a prominent physician management services firm and a co-promotion agreement with an ENP network. These industry partnerships provide a solid platform from which USAQ can potentially launch additional products.