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The Future of Brain and Mental Health Lies in the Hands of This Company

Jocelyn Aspa Jocelyn Aspa, The Market Herald
2 Comments| February 24, 2022

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The COVID-19 pandemic has undoubtedly had an impact on every facet imaginable since March 2020, effectively reshaping our daily lives, the workforce, and access to health care among many others.

Notably, areas in the health care sector such as remote patient monitoring are seeing an update in adoption as healthcare facilities are moving towards digital health, government regulations favoring remote patient monitoring and telemedicine, and an increase of lifestyle diseases.

Remote patient monitoring devices monitor, report, and analyze a patient’s conditions without requiring the patient to see a physician and, in turn, provide patients with a better understanding of their health.

In the coming years, it is estimated that the overarching remote patient monitoring market will reach US$188 billion, up from US$29 billion in 2021, growing at a compound annual growth rate of 30.7 percent during the forecast period.

Companies like Highmark Interactive Inc. (TSXV:HMRK, Forum) are contributing to that growth thanks to its suite of digital brain health tools for both point of care and remote monitoring.

Highmark Interactive was founded in 2017 and headquartered in Mississauga, Ontario, and is focused on brain and mental health by supplying real-time actionable data to health providers and individuals to improve health outcomes.

Case in point, the Highmark platform has brain performance and mental wellness assessment tools that have received FDA clearance in the US, CE marking in Europe, and medical device status in both Canada and Oceania.

The platform assesses balance function, visual function, cognition function, and resilience. The company recently announced that the US Orthopedic Alliance (USOA) has chosen the company to provide remote patient monitoring software to the organization’s network of physician practices and surgical centers.

US Orthopedic Alliance chose Highmark Interactive to provide remote patient monitoring

In a press release, the company said the US Orthopedic Alliance will begin rolling out Highmark Interactive’s EQ Remote Monitoring platformto its orthopedic practices.

The USOA is an organization that helps independent orthopedic practices, ambulatory surgery centers, and specialty surgical hospitalsexcel, and chose Highmark’s software so that its members can maximize health outcomes for patients and boost practice growth, safety, and efficiency.

“We are excited that Highmark’s EQ Remote Monitoring platform will provide physicians with unique, data-driven insights that can support timely, proactive, and personalized care plans,” Rick Salas, CEO of USOA, said in the press release. “We are committed to delivering technologies, like Highmark, to our member physicians that can assist them in achieving positive outcomes for all stakeholders - patients, providers, and payors.”

Highmark Interactive CEO Dr. Sanjeev Sharma explained that the EQ Remote Monitoring platform also captures critical physiological parameters that help patients and physicians identify early signs of risk and therefore proactively intervene to reduce complications and cost of care.

“Partnering with USOA marks an important milestone in Highmark’s focus on expanding within the US market,” Dr. Sharma said. “It is a tremendous validation of our technology, business model and opportunity to partner with more US physician practices for remote monitoring services”

Highmark Interactive in the news

In line with the company’s recent announcement, in December Highmark Interactive announced it had expanded its presence in Canada thanks to Ottawa University Gee-Gees, NAIT Ooks, Okanagan Hockey Group, and other institutions adding the company’s platform across men’s football programs.

In the press release, Highmark Interactive said it hopes to add more programs in 2022.

The investment corner

The remote patient monitoring market is only going to continue proving itself as an integral market as healthcare continues its shift towards continued telehealth and remote care.

As such, companies like Highmark Interactive are rising as major players in the space thanks to regulator approval in several different regions. With the USOA also behind Highmark’s innovative platform, investors can trust this is only just the beginning for the company.

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

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