Get the Latest Investment Ideas Delivered Straight to Your Inbox.

News Update

TICKERS: DOC; DOCRF; 6PH

Digital Health Firm Offers Free-Trial of Telemedicine Platform to Medical Providers Confronting Coronavirus Epidemic
News Update

Source:

CloudMD reported it will offer free-trial telemedicine solutions to healthcare professionals across North America to help manage the coronavirus pandemic.

In a news release, CloudMD Software & Services Inc. (DOC:CSE; DOCRF:OTCQB; 6PH:FSE), announced "it is immediately offering a free trial of its proprietary telemedicine solutions to North American healthcare professionals to help tackle the Coronavirus epidemic."

The company pointed out that the CDC and President Trump recently pronounced that telemedicine is a vital part of fighting the current pandemic. The firm noted that the Trump administration plans to waive certain federal rules to facilitate remote healthcare using video chats and other services and added that a recently announced coronavirus funding bill includes provisions that may allow virtual care access for Medicare patients.

The firm stated that the Canadian Ministry of Health is working on allocating more resources for telehealth in order to meet rising demand and that an emergency telemedicine code was assigned last Friday allowing patients in Ontario to be billed through the Ontario Health Insurance Plan.

The company's Chief Medical Officer and former CEO of Vancouver Coastal Health Authority Dr. David Ostrow commented, "We've reached out to all levels of governments and health agencies to offer our support during these trying times...At CloudMD, we are focused on mitigating the stressors placed on the public health care system by providing patients access to the care they need while reducing the burden on emergency rooms and walk-in clinics."

"CloudMD's telemedicine solutions can be used as a standalone solution for healthcare professionals needing to see their own patients during this crisis...The company will immediately be turning on its integrated telemedicine client on a free-trial basis to all 315 clinics and 3,000 healthcare professionals using their Juno Electronic Medical Records software," the company stated in the report.

The firm added that through the app physicians have single-click, real-time access to scheduled appointments including telemedicine visits without the need for different interfaces and crowded screens.

"We have seen tremendous interest in our software solutions and services over the past few weeks...It is vital that healthcare professionals continue servicing their patients during this crisis. Telemedicine allows for an efficient and safe way to triage patients while protecting them and others from spreading the coronavirus," remarked CloudMD's CEO Dr. Essam Hamza.

The firm noted that its CloudMD SAAS-based proprietary health technology solutions software facilitates delivery of quality healthcare "through the combination of connected primary care clinics, telemedicine and artificial intelligence (AI)." The company reported that its healthcare ecosystem includes 315 clinics with more than 3,000 licensed practitioners and almost 3 million registered patients.

[NLINSERT]

Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with CloudMD Software & Services Inc. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of CloudMD Software & Services Inc., a company mentioned in this article.
6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.




Learn More about Which Online Broker is Right for You?

Want to read more about Healthcare Services investment ideas?
Get Our Streetwise Reports Life Sciences Report Newsletter Free and be the first to know!

A valid email address is required to subscribe