Cloud DX Announces Contracts in Two States
Launching its Patient FirstTM program, Cloud DX is available to 1 in 3 Americans
News in Summary
- 33% of America stands to benefit from newly launched Patient-FirstTM program- Builds upon proven track record of patient focused contracts with Dagamma, Prizm Media, and Maxwell Telecare- Deepens roots in 6 states setting trajectory of initial 9000 patient goal
WATERLOO, ON / ACCESSWIRE / November 17, 2021 / Cloud DX (TSXV:CDX) (OTCQB:CDXFF), Adding to its access to over one million patients, Cloud DX announces the launch of its Patient-FirstTM program and new contracts with Home Medical Providers in Tennessee and Georgia. Patient-FirstTM identifies, enrolls, and supports patients who benefit most from Remote Patient Monitoring (RPM), in particular those with serious chronic illnesses, such as COPD, congestive heart failure, diabetes, or renal disease. This program is built upon Cloud DX’s previously announced patient focused contracts with Dagamma, Prizm Media, and Maxwell Telecare, deepening the company’s roots in six US states.
“1 in 3 people live with serious chronic illness. Patient-FirstTM is for these most vulnerable people. With well over 50 million chronic care patients qualifying for reimbursable RPM in the US alone, there is a largely untapped market for technology that improves patient lives and outcomes, and reduces ER or hospital visits, especially in light of recent COVID spikes,” stated Robert Kaul, CEO at Cloud DX. “Our new contracts in Tennessee and Georgia will deploy our Connected Health™ kits in a variety of settings, from hospice to home-care. With Patient-First™ we can match more patients to Home Medical Provider clinicians best able to care for them.”
Geriatric family physician Dr. Paul Miranda at Home Medical Providers states “With our aging population, healthcare delivery is becoming more complex. The complexity when patients have several co-morbidities makes care a challenge and adds stress to systems, caregivers, and care teams. The Connected HealthTM system offers virtual and remote care tools to monitor these patients more effectively and identify risk of adverse events. Telehealth options including videoconferencing, electronic medical records systems integration, and their endearing patient support team are added benefits. Designed with Patients in mind, users love it, but what’s great is that because it was designed by doctors, it works for our clinic staff, which is vital to help manage workloads more efficiently.”
Using Patient-First™, Cloud DX works with physician partners to establish selection criteria that indicate a patient will benefit from RPM, controlling exacerbations, improving quality of life and avoiding hospitalization and ER visits. Under this contract, proprietary Cloud DX workflows are expected to increase the rate of patient enrollment by up to 100% in Tennessee and Georgia. Home Medical Providers addresses approximately 500 patients in those two states.
Cloud DX earns ~$900 CAD in annual recurring revenue (ARR) under current US reimbursement codes for remote monitoring. The company projects a positive cash flow upon reaching approximately 9,000 enrolled and compliant patients.
Cloud DX’s upcoming investor meeting is set for noon on December 8, 2021. You can register here. Leadership will discuss Virtual Care as a Platform and associated revenue streams.
About Home Medical Providers
Home Medical Providers delivers professional care solutions to patients suffering from multiple acute or chronic conditions that require continued medical care management. We also provide care to individuals who may need immediate medical care but do not want to spend time in a hospital waiting room. While most of our patients request us to be their Primary Care Provider, a role we are happy to play, others choose to see our doctors on a one-time basis.
About Cloud DX
Accelerating virtual healthcare, Cloud DX is on a mission to make healthcare better for everyone. Our Connected Health TM remote patient monitoring platform is used by healthcare enterprises and care teams across North America to virtually manage chronic disease, enable aging in place, and deliver hospital-quality post-surgical care in the home. Our partners achieve better healthcare and patient outcomes, reduce the need for hospitalization or re-admission, and reduce healthcare delivery costs through more efficient use of resources. Cloud DX is the co-winner of the Qualcomm Tricorder XPRIZE, a 2021 Edison Award winner, a Fast Company “World Changing Idea” finalist, and one of “Canada’s Ten Most Prominent Telehealth Providers.”
Cloud DX Investor Site https://ir.clouddx.com/overview/default.aspx
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SOURCE: Cloud DX Inc.
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