Cloud DX (TSX-V:CDX, OTCQB:CDXFF) Inc has announced an agreement with Equitable Life of Canada to leverage its Connected Health Kit to deliver a remote patient monitoring benefit to eligible critical illness insurance claimants through the insurer's EquiLiving product.
The Kitchener, Ontario-based company said the deal makes Equitable Life the first insurer in Canada to offer health and medical monitoring through Cloud DX (TSX-V:CDX, OTCQB:CDXFF) to all of its individual life critical illness clients.
"Life-altering critical illnesses such as cancer or heart disease affect an individual's life, relationships, mental wellbeing, and their ability to generate income," Cloud DX (TSX-V:CDX, OTCQB:CDXFF) founder and CEO Robert Kaul said in a statement.
"Insurers such as Equitable Life play a vital role in helping people manage financially through their illness, get back on their feet and manage the long-lasting effects of their illness. Our technology will play a vital role in providing medical support to clients when they need it the most and in improving their health outcomes and quality of life,” Kaul added.
READ: Cloud DX launches its Cloud XR division to support the emerging medical metaverse
Under the agreement, Cloud DX (TSX-V:CDX, OTCQB:CDXFF) said eligible Equitable Life claimants will have direct and daily access to its industry-leading virtual and remote care monitoring services. The company offers users the ability to take clinical vital sign measurements and participate in two-way feedback via surveys, text messaging, and video calls with a healthcare professional, complete with daily reminders and notifications.
Eligible claimants who have been approved for a full benefit critical illness insurance claim will have access to Cloud DX for up to six months at no cost, with fees to be covered by Equitable Life, the company said. Users will have an option to continue with the remote monitoring service after six months for a monthly fee payable directly to Cloud DX, it added.
"We care deeply about the health of our clients and are pleased to be the first insurer in Canada to offer direct access to leading virtual and remote care to clients at a time when they need it most, during the treatment of and recovery from a critical illness," said Donna Carbell, senior vice president at Equitable Life.
"Through this new offering, our critical illness clients will benefit from the ability to monitor their vitals and receive educational information and important care support during their treatment and recovery, while supported by their critical illness insurance policy which provides financial benefits. This is a game-changing value-added benefit that is only available today through Equitable Life."
Accelerating virtual healthcare, Cloud DX is focused on making healthcare better for everyone. Its Connected Health remote patient monitoring platform is used by healthcare enterprises and care teams across North America to virtually manage chronic disease, enable aging in place, and deliver hospital-quality post-surgical care in the home.
Contact the author at stephen.gunnion@proactiveinvestors.com