- CloudMD has created program offerings for the total benefit category of group benefits that offers comprehensive care while tracking and reporting symptom improvement.
- In 6 months, over a quarter million individuals have been onboarded on the integrated platform, receiving personalized care with a net promotor satisfaction score of 78%.
- The platform combines proprietary online assessment and personalized care – with 88% of individuals showing improvement.
- Real-time data analytics deliver insights into individuals’ health journeys and just-in-time approach to dynamically adjust treatment.
- Employers have full visibility into anonymized user progress through an interactive dashboard, enabling better decision making on group benefits program design.
- Companies are adopting CloudMD’s revolutionary, integrated platform based on evidence that it creates engagement and ability to measure health outcomes resulting in accelerated return to function.
VANCOUVER, British Columbia, Oct. 13, 2021 (GLOBE NEWSWIRE) — CloudMD Software & Services Inc. (TSXV: DOC, OTC: DOCRF, Frankfurt: 6PH) (the “Company” or “CloudMD”), a healthcare technology company transforming the delivery of care, is excited to announce that it has added comprehensive and enhanced health and wellness coaching services to its industry first proprietary Integrated Health Service Platform. This platform utilizes health coaches and technology to create engagement with a focus on ongoing support for prevention, intervention and return to function. It is also one of the only platforms that offers the user tools and treatment for at work, casual absence and disability.
CloudMD is committed to helping individuals understand health issues with a focus on engagement and ability to support through prevention, intervention and return to function. Employers are now focused on ensuring that individuals have access to group benefits that shift from self-selection to full-service navigation. The Integrated Health Services Platform makes it easy for individuals to access the widest range of digital health and wellness through journeys that are actively guided by health and wellness Nurse Navigators and/or Nurse Coaches. This revolutionary platform differentiates itself with the engagement workflow and analytic supporting health outcomes. The platform connects individuals to all of their health and wellness needs by providing industry-leading services including primary care, access to specialists, complex care navigation, mental health risk assessment, mental health services, employee assistance programs (“EAP”), occupational health services, learning/education, provider search, remote testing services, and much more through a single platform. Powered by several of CloudMD’s proprietary and wholly-owned technology assets and its multidisciplinary team, the platform provides a holistic, team-based approach resulting in better access to care and improved outcomes. Since launching the Integrated Health Services Platform (see press release here) in April 2021, over a quarter million individuals already have access to the platform and are receiving personalized navigation and care.
The Company’s early data shows that once individuals have had a successful coaching experience, they tend to re-engage with the coach as a trusted resource for continued support. The impact of the program is yielding positive results with examples where 91% of reassessed individuals with depression showing improvement and 89% of reassessed individuals with anxiety showing symptom improvement.
Karen Adams, President of CloudMD commented, “We are committed to improving the recovery of individuals with mental and physical health issues. Organizations are ensuring that employees receive benefits that can provide better health outcomes and return to function. We are proud that we pioneered a comprehensive platform with predictive analytics that is able to track health outcomes, adjust treatment and focus on return to function utilizing our connected care technology. Employers are able to ensure benefit programs contain the right spend and access to solve issues that make individuals and businesses thrive.”
Many people suffering from mental health issues are held back from seeking treatment due to stigma. Further, not every mental health condition requires psychotherapeutic treatment or psychoactive medications. Often, a personalized mental wellness coaching relationship can effectively address stress in the workplace, mild to moderate depression, social awkwardness, irritability, sleep disruptions, or other mental health symptoms. CloudMD’s preventative, action-oriented coaching service provides individuals with the support they need to remain productive and engaged despite the ups and downs of daily life. Speaking to a coach can be an important first step in getting the help a person needs. Similar to care pathways in physical health, there is value in delivering access to customized care pathways in mental health that are evidence-based but don’t over treat or under treat. Individualized mental wellness coaching is a critical first step in an organized stepped-care pathway.
Karen Adams added, “For many people, a mental health action plan that addresses immediate, specific circumstances combined with the support of a trained coach is all they need to move forward. Progress like this can also break the hold of a mental health issue, preventing someone from sliding into a disorder and it can also be very important for those who need help in preparing to engage in therapy. This is one aspect of our broader comprehensive health and wellness coaching services that has been designed as an effective, supportive doorway enabling individuals to access the services they need.”
In addition, the Company announces it has engaged Native Ads, Inc. (“Native Ads”) to provide strategic digital media services, marketing, and data analytics services. The Company has agreed to pay Native Ads CAD$150,000 in consideration for the services to be provided. Native Ads will not receive any securities of the Company as compensation for the services. The Company has also engaged Grit Capital Corp. (“Grit”) for a 24 week marketing and advertising campaign and has agreed to pay Grit US$100,000 in consideration for the marketing services provided. Grit will not receive any securities of the Company as compensation for the services.
About CloudMD Software & Services
CloudMD is transforming the delivery of healthcare using technology and by providing a patient-centric approach, with an emphasis on continuity of care. By leveraging healthcare technology, the Company is building one, connected platform that addresses all points of a patient’s healthcare journey and provides better access to care and improved outcomes. Through CloudMD’s proprietary technology, the Company delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, healthcare navigation, educational resources, and artificial intelligence (AI). CloudMD’s Enterprise Health Solutions Division includes the leading Student Assistance Program and one of the top 4 Employee Assistance Programs in Canada and offers one comprehensive, digitally connected platform for educational institutions, corporations, insurers, and advisors to better manage the health and wellness of their students, employees, and customers.
CloudMD currently services a combined ecosystem of over 7,000 psychiatrists, approximately 4,500 therapists and counsellors, approximately 4,000 psychologists, over 22,000 family physicians, over 34,000 medical specialists, over 1,500 allied health professionals, over 500 clinics, and over 5 million individuals across North America. For more information visit: https://investors.cloudmd.ca.
FOR ADDITIONAL INFORMATION, CONTACT:
VP, Investor Relations
Forward Looking Statements
This news release contains forward-looking statements that are based on CloudMD’s expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to its business plans. Although CloudMD believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and CloudMD undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.