Health spending in Canada
in 2019, 30%
represents private-sector spending
- One of the main pain points for employers and insurers is the multiple vendors required to cover the spectrum of healthcare services
- CloudMD delivers one centralized platform that addresses access to primary and specialist care, mental health support, and educational resources
- The solution provides personalized care p lans unique to each individual through proven systems , triage , assessment and navigation
- Creates an improved healthcare experience resulting in better outcomes, faster adoption rates and increased engagement
- Led by Karen Adams, Global Head , Enterprise Health Solutions, an industry leader with over 20 years’ experience in enterprise health and wellness
VANCOUVER, British Columbia, Nov. 12, 2020 (GLOBE NEWSWIRE) -- 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 S olutions Divis ion 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 agil e , 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 personalize s their health care 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 spending 1 . Furthermore, Canadians spend almost a billion dollars ($950 million) on counselling services each year 2 and lose approximately $2.1 billion in wages due to long wait times for healthcare services 3 . 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 E nterprise Health Solution s D ivision 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 focuse d 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:
VP, Investor Relations
Global Head, Enterprise Health Solutions
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.