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Under the Radar Company Increases Access to Multi-Billion Dollar Virtual Health Care Industry

Stockhouse Editorial
1 Comment| November 8, 2021

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(Images via Cloud DX Inc.)

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There is an immense strain on the global healthcare workforce because of the COVID-19 pandemic and an ever-aging population. Weakening infrastructure and supply chain issues have exposed serious deficiencies in health care systems. COVID-19 is accelerating change across these ecosystems and forcing, both, public and private health systems to adapt and innovate in a short period.

A few savvy investors are looking for emerging opportunities in this field, and one leading Canadian provider of virtual care and remote monitoring solutions should be on your radar.

Picture this:

A diabetic, recent heart failure patient or newly release post operative patient no longer needs to rush to an emergency department in find out if an issue is critical or not; urgent ambulatory care can be dispatched at the snap of a finger; family members have peace of mind knowing their loved one is monitored and supported even when they are not available. All from anywhere in the world. Remote patient monitoring (RPM) devices make this possible for clinicians, patients and caregivers in real-time.


How it works:

RPM uses digital technologies to collect medical and health data from individuals in one location and securely transmit that information to healthcare providers in a different location for assessment, recommendations, or immediate action.



The need is great:

More than 133 million Americans, ~40% of the US population, have at least one chronic disease, and these chronic diseases kill more than 1.7 million Americans every year.

Hospitals, long term care facilities, healthcare providers and the greater health ecosystem are all starting to see the benefits of this digital transformation. While some commentors may worry that virtual care replaces in-person care, that is not the case. Virtual care improves the healthcare landscape with expanded access to services, more efficient patient and clinician experiences plus a reduction in overall costs. Given its growth since 2020, virtual care delivery joins cloud computing and artificial intelligence (AI) in playing an increasingly pivotal role around the globe.

One company harnessing all three of these technologies is Cloud DX Inc. (TSX-V: CDX - OTCQB: CDXFF) and its Connected Health platform. Hospitals, healthcare organizations, and care teams across North America use Cloud DX’s remote patient monitoring platform to virtually manage chronic disease, enable aging in place, and deliver hospital-quality post-surgical care at home.

Recent 3rd party studies have shown that health care organizations using Cloud DX Connected Health can achieve better healthcare and patient outcomes, reduce the need for hospitalization and re-admission, address prescription errors and lower healthcare delivery costs through more efficient use of resources.



Closing the gap

COVID-19 and other respiratory illnesses like tuberculosis, chronic illnesses and post operative complications are impacting health care globally due to pandemic disruptions. Innovations and investments are needed to close the gaps in healthcare access, delivery, and outcomes. “The important fact is that remote monitoring and virtual care improves patient outcomes,” says Robert Kaul, CEO at Cloud DX. “Virtual care provides more immediate access to care teams, offers discreet screening for infectious diseases and other issues and therefore can quickly escalate critical health situations to the appropriate medical responders. This results in lower hospital re-admissions; hospital overcrowding and makes healthcare systems more efficient in both patient recovery and overall costs”.

So far in 2021, Cloud DX has announced contracts with US telemedicine provider Maxwell Telecare, chronic patient marketing firm Prizm Media and the Lung Health Foundation to provide reimbursed RPM to chronic care patients throughout North America. By directly empowering patients as well as partner physicians these programs will provide access to RPM care to a database of over one million patients. Complementing this Patient-First™ program is Cloud DX’s partnership with Dagamma, where it launched its Maternal Health Track™ (MHT) program on Dagamma’s e-commerce site www.babydoppler.com . This maternal blood pressure monitoring program is now being offered to that website’s forty thousand monthly unique visitors as well as additional significant on-line retail channels including Amazon, Target and Walmart.

Industry reception:

The gradual adoption of virtual care is outdated, mostly due to pressure from the pandemic. Today, as acceleration, use cases, and third-party evidence grows, the typically conservative healthcare industry is transitioning to virtual care and remote monitoring as a key part of their standard of care. In 2021, virtual physician visits have become >35% of all visits, up from less than 4% in 2019.

“Remote home monitoring creates a safety net for patients recovering at home,” says Dr. Mohamed Panju, site chief and physician lead for HHS Hamilton General Hospital’s home monitoring program. He noted that virtual care and remote home monitoring are game changers when it comes to how we care for patients. Panju continued that “virtual care, helps prevent return trips to the emergency department since the virtual care team can help with health concerns that might arise.”

Doctors PJ Deveraux and Mike McGillion, scientists with the Population Health Research Institute (PHRI) completed a study using Cloud DX’s Connected HealthTM system to monitor patients after surgery in 7 Canadian hospitals. Results showed that Cloud DX monitoring detected and corrected 24% more medication errors than standard care, 14% of patients reported less severe pain, and hospital re-admission was reduced by 5% for the Cloud DX users.

Dr. Deveraux noted that "Remote patient monitoring is convenient, efficient, and effective. There is enormous potential for the broader society.” Fellow researcher Dr. McGillion added that "It is about innovating for the future of healthcare. We need to make the right kind of investment in RPM. We need to discover what are the best models are to preserve patient health and safety, optimize healthcare delivery, and improve patient outcomes and healthcare-related costs."



Investment summary:

As Remote Patient Monitoring (RPM) exponentially grows, it is worth noting that Cloud DX is a company that strikes a different chord. Offering an end-to-end software and hardware platform for RPM, the company controls data collection, provides SaaS revenue, can customize features for customers & patients and garners significant positive feedback from researchers, medical staff, and end users. It is no surprise that Cloud DX is a growing competitor in this billion-dollar industry.

With recently announced contracts, Cloud DX now has contractual access to over one million US and Canadian patients. Each patient enrolled in reimbursed Cloud DX remote monitoring generates an average of C$900 in ARR. With an initial goal to onboard 10% of patients within its contractually accessible universe (an estimate of 100,000 patients), Cloud DX is set to deliver exponential growth; Cloud DX is truly a revenue generating blue sky opportunity.

There is more news in store from Cloud DX as the team works to make healthcare better for everyone. Investors would be wise to deepen their due diligence into the exploding RPM segment of healthcare.

With a list of customers stretching from Newfoundland and Labrador to British Colombia, the Yukon and throughout the US, Cloud DX’s user base will continue to expand as the company pursues their eventual 100,000 patient milestone.

This is just our first look at what Cloud DX has to offer. In the next feature article in our series, we will look deeper into the Company and discuss its key differentiators.

For more on this Company’s business, visit clouddx.com.


FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.




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