08:07 AM EDT, 03/25/2024 (MT Newswires) -- WELL Health Technologies Corp. ( WHTCF ) , a digital healthcare company that saw its shares drop 4.5% to near 52 week lows last Friday, on Monday announced its support of the recently announced reimbursement policies from a number of key Canadian provinces where WELL has significant clinical operations.

Ontario, Alberta, and Manitoba have announced increases in reimbursement rates for primary care, specialized care, and diagnostic consultation codes. This follows last year's Longitudinal Family Practice (LFP) reimbursement methodology implemented by B.C designed to boost funding for primary care physicians. "All these adjustments are a response to the growing need for a robust support system for healthcare providers, aimed at addressing the challenges of inflation and the difficulties in attracting and retaining skilled physicians," the statement noted.

Further to its 2023 financial results reported last week, the company says it achieved 15.6% total organic growth in its primary care clinics in 2023, comprised of 10.9% same clinic organic growth and 4.7% growth from its clinic absorption model. Total organic growth for all Canadian clinics was 11.1%.