CloudMD Launches Enterprise Health Solutions Division, Providing Employers with the Ability to Offer Personalized Healthcare ...
November 12 2020 - 06:30AM
CloudMD Software & Services Inc. (TSXV: DOC, OTCQB: DOCRF,
Frankfurt: 6PH) (the “
Company” or
“
CloudMD”), a telehealth company revolutionizing
the delivery of healthcare to patients, is excited to announce that
it has launched an
Enterprise Health
Solutions
Division designed to create
engagement and enable patients through personalized health and
wellbeing solutions. Karen Adams, Chief Health Innovation Officer
will lead the new division and assume the additional role of Global
Head of Enterprise Health Solutions. Karen is a subject matter
expert in enterprise health and wellness programs and brings over
20 years’ experience developing industry leading mental health and
wellness programs for some of the largest corporations and insurers
in Canada, including Morneau Shepell and Shepell.fgi.
Karen Adams, Global Head,
Enterprise Health
Solutions commented, “Employers are looking for
agile, wellbeing initiatives that positively impact the employee
experience. We have been able to acquire organizations who are
leaders in mental and physical health. It is evident that employers
are looking for programs that recognize the unique needs of each
individual and that personalizes their healthcare journey. Our
philosophy is to provide access to better care by leveraging
technology to ensure continuity of evidenced based care through a
multidisciplinary team-based approach. CloudMD is at the forefront
of taking leading value-based care and ensuring that an individual
is accessing reliable resources to improve their wellbeing whether
they are at work, off work, recovering or returning to work. Our
inclusive approach drives employee engagement and will enable
employers and employees to thrive.”
In 2019, Health spending in Canada was
approximately $264 billion, with 30% representing private-sector
spending1. Furthermore, Canadians spend almost a billion dollars
($950 million) on counselling services each year2 and lose
approximately $2.1 billion in wages due to long wait times for
healthcare services3. Many do not receive the full scope of care
they need and end up cycling through the acute care system. As
organizations focus on issues relating to equality, diversity,
inclusion, and mental health in managing employee health concerns
it’s apparent that the way group benefits programs are administered
needs to change. In the current system, employers are burdened with
a siloed approach to managing health and wellbeing, and are using
various stand-alone, single issue solutions to address their
employees’ healthcare needs. CloudMD recognizes the market needs to
integrate disconnected health and wellbeing benefits with
technology enabled services to ensure increased access and
continuity of care.
CloudMD will be offering clients a connected
system of health solutions that recognizes the unique needs of each
person. The program starts with a personal assessment (to determine
each employee’s unique social, physical and mental health needs)
and designs a personalized navigation care plan. All programs use
progressive measurement and evidenced based care which results in
better health outcomes. This transformational approach to employee
health and wellbeing is enabled through the strategic acquisitions
of leading healthcare solutions Re:Function, Snapclarity,
HumanaCare, Medical Confidence, and iMD Health. Coupled with
CloudMD’s virtual care, primary care and allied health network, the
centralized platform creates an integrated solution to help
employers address their workforce’s holistic health and wellness.
CloudMD’s enterprise health solutions leverage both public and
private funding which optimizes employer’s health and wellness
spend.
Dr. Essam Hamza, CEO comments,
“Our Enterprise Health Solutions Division aims to break down the
barriers of traditional healthcare by providing one comprehensive
platform to address all modalities of health and wellness and offer
enterprise clients a ‘one stop shop’ for their employee benefit
plans. Our mission is to provide holistic, patient focused care,
and through our team-based approach we are able to provide better
access to care and a personalized plan that encompasses the
patient’s entire healthcare journey. We are revolutionizing the
delivery of healthcare and aim to partner with clients to deliver
greater value and impact, while optimizing their investment in
health and wellness.”
About CloudMD Software &
Services
CloudMD is digitizing the delivery of healthcare
by providing a patient centric approach, with an emphasis on
continuity of care. The Company offers SAAS based health technology
solutions to healthcare providers across North America and has
developed proprietary technology that delivers quality healthcare
through a holistic offering including hybrid primary care
clinics, specialist care, telemedicine, mental health support,
educational resources and artificial intelligence (AI). CloudMD
currently services a combined ecosystem of over 500
clinics, almost 4000 licensed practitioners and 8 million patient
charts across North America.
ON BEHALF OF THE BOARD OF DIRECTORS
“Dr. Essam Hamza, MD" Chief Executive Officer
FOR ADDITIONAL INFORMATION CONTACT:
Julia Becker VP, Investor Relations
Julia@cloudmd.ca
Karen AdamsGlobal Head, Enterprise Health
SolutionsKaren@cloudmd.ca
Forward Looking Statements
This news release contains forward-looking
statements that are based on CloudMD’s expectations, estimates and
projections regarding its business and the economic environment in
which it operates, including with respect to its business. Although
CloudMD believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and involve risks and
uncertainties that are difficult to control or predict. Therefore,
actual outcomes and results may differ materially from those
expressed in these forward-looking statements and readers should
not place undue reliance on such statements. These forward-looking
statements speak only as of the date on which they are made, and
CloudMD undertakes no obligation to update them publicly to reflect
new information or the occurrence of future events or
circumstances, unless otherwise required to do so by law.
The TSX Venture Exchange does not accept
responsibility for the adequacy or accuracy of this release.
1
https://www.cihi.ca/en/health-spending-in-canada-reaches-264-billion2
https://cmha.ca/ending-health-care-disparity-canada3
https://www.globenewswire.com/news-release/2020/05/07/2029157/0/en/Fraser-Institute-News-Release-Medical-wait-times-cost-Canadian-patients-more-than-2-billion-in-lost-wages-before-COVID-19.html
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