Existing clients procure more Connected Health™ kits for successful hospital-at-home and community programs
News in Summary
- Two customers buy additional remote monitoring kits, and future subscription fees, delivering up to $297,000 CAD in revenue to Cloud DX.
- Paramedicine and Community Health Center customers grow their programs by 200% and 50%, respectively.
- Published studies show Cloud DX Connected Health™ reduced hospital readmissions, reduced anxiety and pain, and established a closer connection between patient and care team.
KITCHENER, ON / ACCESSWIRE / February 7, 2023 / Cloud DX (TSXV:CDX)(OTC:CDXFF), a leading health data platform, announces expansion contracts with two existing clients, adding additional vital sign devices and software services to each remote patient monitoring (RPM) program. These contracts follow successful initial deployments of Connected Health™ by Cloud DX for remote monitoring programs within the last two years.
The Community Health organization is set to grow its remote patient monitoring program by nearly 50% generating expected revenue of $167,626 CAD. The expansion will allow the organization to provide Connected Health™ kits to more chronic care patients in the rural community.
The Paramedicine expansion supports the customer's 3x growth of its RPM program, a milestone achieved within 4 months - Cloud DX implemented this program in November 2022. Cloud DX will deliver Connected Health™ kits, paid up front, with additional revenue expected for software subscription and service fees; between hardware and subscription revenues, the contract is set to deliver up to $90,000 CAD in revenue.
Cloud DX Founder and CEO, Robert Kaul says "We're thrilled to see our award-winning Connected Health™ platform thrive in these communities. The growth in RPM demand our customers are experiencing indicates the success and acceptance of evidence-based virtual care in Community Paramedicine and rural communities, where chronically ill patients may have limited access to healthcare services. Patients report over 97% satisfaction with our patient-centered RPM platform and best-in-class vital signs devices."
About Cloud DX
Cloud DX is on a mission to make healthcare better for everyone. Healthcare clinics and hospitals across North America use our health data platform, Connected Health™, to add remote and virtual technology to care delivery. Our remote monitoring solution lets care teams virtually and efficiently monitor hundreds of patients from the comfort of their homes; Patients use medical devices connected to the platform that securely transmits that data to the care team's dashboard or EMR. Connected Health™ supports remote vital sign monitoring, behavioral questionnaires, telehealth, care pathways for chronic care, aging in place, palliative or perioperative hospital-at-home, and more. Our customers achieve better healthcare and patient outcomes, reduce hospitalizations and readmissions, lower care delivery costs, and grow patient panels, revenue, and more.
Cloud DX is an exclusive partner to Medtronic Canada, Teladoc Health Canada, and Equitable Life of Canada. Cloud DX is the co-winner of the Qualcomm Tricorder XPRIZE, 2022 Top Innovator by Canadian Business, a 2021 Edison Award winner, a Fast Company "World Changing Idea" finalist, and one of "Canada's Ten Most Prominent Telehealth Providers."
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SOURCE: Cloud DX Inc.
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