Cloud DX (TSX-V:CDX, OTCQB:CDXFF) has announced a new contract with another Ontario-based paramedic service to bring remote patient monitoring (RPM) to seniors.
The community paramedic group chose Cloud DX (TSX-V:CDX, OTCQB:CDXFF) to provide Connected Health kits and remote monitoring services for its first-ever RPM program after receiving funding through the Ontario government's Community Paramedicine for Long-Term Care program (CPLTC), the company said,
The C$111,000 contract will begin with 75 Connected Health kits along with services and run through March 2024. This is the company’s eighth contract signed with community paramedics in Ontario. The company previously announced 200% growth over four months at another Ontario community paramedicine program using Connected Health.
READ: Cloud DX expands contracts with two existing clients after its digital health platform Connected Health boosts remote patient monitoring programs
Connected Health supports remote vital sign monitoring, behavioral questionnaires, telehealth, care pathways for chronic care, aging in place, palliative or perioperative hospital-at-home, and more.
"We are committed to working with community paramedics across Canada to end so-called 'hallway health care,’” CEO Robert Kaul said in a statement. “Connected Health remote patient monitoring is designed to provide the very best in connected healthcare with a patient-first focus. In particular, the CPLTC program is a very innovative way to efficiently optimize scarce healthcare resources. We hope to see this pioneering program replicated in other provinces soon."
The provincial government fully funds the CPLTC program to provide additional care for seniors in their own homes before admission into long-term care. The program was piloted in October 2020 and is currently active in 33 communities. Early feedback has shown a reduction in hospital admissions rates and increased integration with primary care.
Cloud DX said it has announced five new contracts so far in 2023, after announcing 28 new contracts and extensions in 2022, a 233% year-over-year increase in new business.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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