Cloud DX (TSX-V:CDX, OTCQB:CDXFF) Inc has announced the launch of its Patient-First program and new contracts with Home Medical Providers in Tennessee and Georgia.
The company said that its Patient-First program identifies, enrolls, and supports patients who benefit most from Remote Patient Monitoring (RPM), in particular those with serious chronic illnesses, such as chronic obstructive pulmonary disease (COPD), congestive heart failure, diabetes, or renal disease.
The program is built upon Cloud DX (TSX-V:CDX, OTCQB:CDXFF)'s previously announced patient-focused contracts with Dagamma, Prizm Media, and Maxwell Telecare, deepening the company's roots in six US states.
"Our new contracts in Tennessee and Georgia will deploy our Connected Health kits in a variety of settings, from hospice to homecare. With Patient-First we can match more patients to Home Medical Provider clinicians best able to care for them," said Robert Kaul, CEO of Cloud DX (TSX-V:CDX, OTCQB:CDXFF).
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He added: “One in three people live with serious chronic illness. Patient-First is for these most vulnerable people. With well over 50 million chronic care patients qualifying for reimbursable RPM in the US alone, there is a largely untapped market for technology that improves patient lives and outcomes, and reduces ER or hospital visits, especially in light of recent coronavirus (COVID-19) spikes.”
The Waterloo, Ontario-based company said that Patient-First works with physician partners to establish selection criteria that indicate a patient will benefit from RPM, controlling exacerbations, improving quality of life, and avoiding hospitalization and ER visits.
Under the contract, proprietary Cloud DX workflows are expected to increase the rate of patient enrollment by up to 100% in Tennessee and Georgia. Home Medical Providers address approximately 500 patients in those two states.
Geriatric family physician Dr. Paul Miranda at Home Medical Providers noted: "The Connected Health system offers virtual and remote care tools to monitor these patients more effectively and identify risks of adverse events. Telehealth options including videoconferencing, electronic medical records systems integration, and their endearing patient support team are added benefits.”
Cloud DX earns approximately C$900 in annual recurring revenue (ARR) under current US reimbursement codes for remote monitoring. The company projects a positive cash flow upon reaching approximately 9,000 enrolled and compliant patients.
The company’s upcoming investor meeting is set for noon on December 8, 2021 and investors can click the link here.
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