CloudMD Software & Services Inc. (TSXV: DOC, OTCQB: DOCRF,
Frankfurt: 6PH) (the “
Company” or
“
CloudMD”), a healthcare technology company
revolutionizing the delivery of care, is excited to announce the
positive results of a comprehensive, evidence-based study on the
outcomes of therapist assisted internet-based cognitive behavioural
therapy (“TAiCBT”).
Since 2020, CloudMD’s leading, clinically based
TAiCBT provider, MindBeacon, has successfully treated thousands of
people with clinically severe levels of depression and co-morbid
anxiety. The results of the study released have proved the
effectiveness of TAiCBT treatment for depression and anxiety.
Depression is a leading cause of disability and
absence for all Canadian employers and the leading cause worldwide,
impacting 350 million people1. In Canada, around 11% of men as well
as 16%2 of women will be impacted by the condition throughout their
lifetime. Close to half of people who suffer with depression (46%)
will also experience anxiety in their lifetime, often at the same
time. Knowing this, MindBeacon recently completed a study to seek
a) the effectiveness of its depression protocol for those
experiencing symptoms of both depression and anxiety, and b) the
relationship between moderating factors (e.g., client
characteristics), mediating factors (e.g., patterns of client and
therapist engagement) and symptom reduction.
Highlights:
- Conducted a
comprehensive analysis of two years of data, representing 12,839
people who consented to treatment for symptoms of depression.
- Treated
thousands of people with clinically severe levels of depression,
and thousands of people with clinically severe co-morbid
anxiety.
- 77% of clients
start treatment with clinical level symptoms (a score of 10 or more
on the PHQ9) of depression; 56% are suffering from clinical levels
of both depression and anxiety symptoms (a score of 8 or more on
the GAD7).
- On average,
clients start treatment with a depression symptom score in the
moderately severe range (16) and finish with a score in the
moderate depression range (10).
- Initial
symptoms, amount of treatment readings and frequency of engagement
all contribute to symptom improvement.
- More than half
of clients with clinically severe symptoms experience reliable
symptom improvement.
- This compares
very favourably with other forms of treatment and TAiCBT studies
and experience in other jurisdictions.
- Clients with a
range of engagement patterns can benefit from TAiCBT, clients who
stretch out engagement over 4 or more weeks experience optimal
results.
- This is also
consistent with past research showing that increasing engagement
increases the number of clients achieving reliable clinical
change.
The study was based on a comprehensive analysis
of two years of data from January 2020 – December 2021. Clinical
levels for depression are defined as a score of 10 or more on the
PHQ9. On average, clients started treatment with a depression
symptom score in the moderately severe range (16) and finished with
a score in the moderate depression range (10). A reduction of 6
points in PHQ9 is considered a reliable change. In summary, nearly
half of clients experienced a reliable change in their depression
symptoms by the end of treatment.
“The rising incidence of mental health and
increasing wait times is supporting the need for iCBT
solutions," said Karen Adams, President and Interim
CEO of CloudMD. “Our data analysts are dedicated to
measuring outcomes to ensure that we are able to offer the
treatment options that will result in improvement and return to
function. We offer a full spectrum of mental health support
solutions with multiple modalities of care which we feel confident
will provide better health outcomes. Furthermore, we have one of
the largest data sets for clinically based TAiCBT outcome
measurement and data integrity, which is essential to showcase our
program’s effectiveness, along with having the right processes in
place to capture the proof points, and provide important outcomes
data to our customers,” she continued.
After studying the effectiveness of its TAiCBT,
the Company found that more than half of clients who actively
engaged with the programs for four weeks or more saw symptom
improvement, even if they completed few readings. Initial symptoms,
amount of treatment readings and frequency of engagement all
contributed to symptom improvement in the end.
The effectiveness of the Company’s TAiCBT
programs showcase the support the program can offer to human
resources and operational leaders as they help prevent absenteeism
and leave of absence while taking employees forward on their
wellness journey. For carriers, the program can help reduce the
duration of disability claims, prevent short-term disability, and
reduce absences at work due to depression.
“It’s not surprising that persistent engagement
with the program is beneficial for symptom reduction but it is
interesting that stretching engagement out appears to be more
important that completing a lot of material in a short period of
time,” said Matt Balcarras, PhD, clinical research lead at
MindBeacon. “TAiCBT is designed to allow more choice and
flexibility around the pacing of engagement, and we are pleased to
show that our clients are able to find the pacing that works best
for them,” he added.
The TAiCBT platform, with its high degree of
client/therapist interaction and personalization to adapt to their
individual needs and preferences throughout their treatment
journey, is uniquely designed to foster continued client engagement
leading to better outcomes. As shown in this study, CloudMD’s
TAiCBT has proven highly effective treatment for people with
clinical levels (moderately severe and moderate) of depression and
comorbid anxiety.
Furthermore, CloudMD’s time to treatment at
<5 days is 5 times faster than the 25 days Canadians typically
wait for community health, or months or more for specialized
support (e.g., post-traumatic stress)3. Earlier intervention has
also been consistently shown to lead to better outcomes.
To access the full study, please click here: New study
proves Therapist Assisted iCBT is a highly effective treatment for
people with clinical levels of depression and comorbid anxiety.
CloudMD will also be hosting a webinar about the research as part
of its Better Outcomes Initiative, individuals can register for it
here: Webinar Registration.
About CloudMD Software & Services
CloudMD is transforming the delivery of
healthcare using technology and by providing a patient-centric
approach, with an emphasis on continuity of care. By leveraging
healthcare technology, the Company is building one, connected
platform that addresses all points of a patient’s healthcare
journey and provides better access to care and improved outcomes.
Through CloudMD’s proprietary technology, the Company delivers
quality healthcare through a holistic offering including hybrid
primary care clinics, specialist care, telemedicine, mental health
support, healthcare navigation, educational resources, and
artificial intelligence (AI). CloudMD’s business is separated into
three main divisions: Clinics and Pharmacies, Digital Solution and
Enterprise Health Solutions, the Company’s fastest growing
division. CloudMD’s Enterprise Health Solutions Division has built
a leading employer healthcare solutions, including its
Comprehensive Integrated Health Services Platform, which offers one
comprehensive, digitally connected platform for educational
institutions, corporations, insurers, and advisors to better manage
the health and wellness of their students, employees, and
customers.
CloudMD currently services a direct ecosystem of
over 5,700 clinicians including, 1,800+ mental health
practitioners, 1,600+ allied health professionals, 1,400+ doctors
and nurses and covers 12 million individual lives across North
America. For more information
visit: https://investors.cloudmd.ca.
ON BEHALF OF THE BOARD OF
DIRECTORS “Karen
Adams”Interim Chief Executive Officer
FOR ADDITIONAL INFORMATION, CONTACT:
Julia BeckerVP, Investor
Relations julia@cloudmd.ca(604) 785-0850
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward Looking Statements
This news release contains “forward-looking
statements” and “forward-looking information” within the meaning of
Canadian securities laws. Forward-looking statements in this news
release include, but are not limited to, statements regarding: the
new Public Sector division; key focuses in 2022; deployment of
strategic capital and the impact of integration of its
acquisitions; and options to recover amounts owed to the Company in
connection with the acquisition of VisionPros. These statements are
based upon information currently available to CloudMD’s management.
All information that is not clearly historical in nature may
constitute forward‐looking statements. In some cases,
forward‐looking statements may be identified by the use of terms
such as “forecast”, “assumption” and other similar expressions or
future or conditional terms such as “anticipate”, “believe”,
“could”, “estimate”, “expect”, “intend”, “may”, “plan”, “predict”,
“project”, “will”, “would”, and “should”. Forward-looking
statements contained in this news release are based on certain
factors and assumptions made by management of CloudMD based on
their current expectations, estimates, projections, assumptions and
beliefs regarding their business and CloudMD does not provide any
assurance that actual results will meet management’s expectations.
While management considers these assumptions to be reasonable based
on information currently available to them, they may prove to be
incorrect. Such forward‐looking statements are not guarantees of
future events or performance and by their nature involve known and
unknown risks, uncertainties and other factors, including those
risks described in the Company’s MD&A (which is filed under the
Company’s issuer profile on SEDAR and can be accessed at
www.sedar.com), that may cause the actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by such
forward‐looking statements. Although CloudMD has attempted to
identify important factors that could cause actual actions, events
or results to differ materially from those described in
forward‐looking statements, other factors may cause actions, events
or results to be different than anticipated, estimated or intended.
There can be no assurance that such statements will prove to be
accurate as actual results and future events could vary or differ
materially from those anticipated in such forward‐looking
statements. Accordingly, readers should not place undue reliance on
forward‐looking information. CloudMD does not undertake to update
any forward-looking information, whether as a result of new
information or future events or otherwise, except as may be
required by applicable securities laws.
1 Webinar coverage: Depression in the workplace and redesigning
employee support | Benefits Canada.com2 Mental Health -
Depression - Canada.ca
3 https://bit.ly/3mbFHQy
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