Surveys show that the majority of seniors prefer to age in place, managing any medical conditions that arise from the comfort of their homes.
This is increasingly possible with the rise of remote patient monitoring solutions such as Cloud DX (TSX-V:CDX, OTCQB:CDXFF)'s Connected Health platform.
“Users of our award-winning Connected Health kit in their homes have very high patient satisfaction, especially among our seniors where it’s above 95%,” Cloud DX (TSX-V:CDX, OTCQB:CDXFF) CEO Robert Kaul told Proactive in an exclusive interview.
Kaul highlighted that there were significant opportunities for Cloud DX (TSX-V:CDX, OTCQB:CDXFF)’s remote patient monitoring offering as Canada deals with a lack of nursing home space, with seniors facing long waiting lists.
“It's a terrible situation that was exacerbated by the pandemic but across Canada, and especially in Ontario, we are seeing some really terrific new usages for our Connected Health technology to allow seniors to stay in their homes as long as possible,” Kaul said.
Use cases for Cloud DX’s technology include palliative care, chronic care management and post-surgical monitoring.
“One of the fastest growing use cases in Canada for remote monitoring is after surgery. Patients get to go home a little earlier from the hospital because they are going to be monitored from home instead of having to wait those extra two or three days, which everyone appreciates,” Kaul explained.
The company this week announced a contract with Ontario-based VHA Home Healthcare to support the non-profit organization’s efforts in providing nursing and other home support services in the province.
It marks the sixth new contract, which have a combined value of $1.8 million, announced by the company since the start of the year.
“I’d ask investors to stay tuned because there’s more news coming,” Kaul concluded.