Cloud DX Inc (CVE:CDX) (OTCMKTS:CDXFF) has announced a new partnership with the Lung Health Foundation to supply remote patient monitoring (RPM) kits and services in the province of Ontario.
The North American disruptor in virtual care based in Kitchener, Ontario and Brooklyn, New York, said the foundation plans to deploy the company’s Connected Health remote patient monitoring platform through Ontario hospital partners to “improve care for patients suffering from chronic obstructive pulmonary disease (COPD).”
This comes on the back of a series of contract wins announced by Cloud DX in recent weeks, including a contract extension with a large Canadian provincial health authority, a partnership agreement with US-based Maxwell Telecare and a virtual clinic deployment in Newfoundland.
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According to the Canadian Institute of Health Information, over 23,000 Ontarians are admitted to hospital every year for COPD. Each hospital stay lasts an average of 5.6 days at an average cost to the province of $6,200 per visit or $142 million per year, making COPD exacerbation one of the largest healthcare costs in Ontario.
Cloud DX's remote patient monitoring platform is used by healthcare providers to improve COPD patient outcomes, with deployments at Markham Stouffville Hospital, Hamilton Health Sciences and Kingston Health Sciences Centre among others.
“Remote monitoring by Cloud DX helps clinicians detect symptoms of COPD exacerbation earlier, and trigger pre-approved action plans to guide COPD patients to take immediate steps to alleviate their symptoms, reducing ER visits and hospitalizations,” said the company. As a result, there are better healthcare outcomes for patients and lower COPD hospital costs.
“The COVID-19 pandemic underscored the vulnerability of individuals with COPD. Remote patient monitoring has been shown to be beneficial in helping predict exacerbations while providing patients with critical information required to manage their own condition,” Peter Glazier, Executive Vice President of the Lung Health Foundation, said in a statement.
“Early intervention and better disease management improves quality of life and lowers healthcare resource utilization. Private-public partnerships such as the one between our two organizations are key to getting at the core of some of the healthcare challenges we've long been facing,” he added.
The 12-month contract can be renewed by Lung Health or any of the participating healthcare partners at the completion of the initial term. Cloud DX charges upfront for Connected Health Kits that are prescribed to patients for use at home, and then charges a per patient per month fee for software, services and support as each patient enrolls in the Connected Health system. In this case, all fees are paid by Lung Health, noted the company.
"Cloud DX Connected Health has been shown to be a powerful tool to mitigate the impact of COPD, improving the lives of patients while at the same time streamlining provider workflows,” said Cloud DX CEO Robert Kaul. “We're proud to be a partner with the Lung Health Foundation to expand the number of Ontarians that have access to this life-changing technology."
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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