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TICKERS: DOC; DOCRF; 6PH

Healthcare Firm Expands Telemedicine App to Ontario as Coronavirus Concerns Accelerate Demand
News Update

Source:

CloudMD reported that it has launched its telemedicine app in Ontario as coronavirus concerns have greatly increased the need for digital healthcare.

Digital healthcare delivery firm CloudMD Software & Services Inc. (DOC:CSE; DOCRF:OTCQB; 6PH:FSE) announced in a news release that it has expanded its CloudMD-branded telemedicine app to provide direct-to-consumer service to Ontarians.

The company reported that the app is free to download and use and it enables individuals to schedule same-day appointments with licensed physicians located in their own province. The firm added that it has onboarded numerous Ontario-based doctors in order to address the health concerns of Ontarians via secure, real-time videoconferencing on the app.

The company stated that it has seen growing demand for digital healthcare as demonstrated by the positive reception CloudMD received following its launch earlier this year in British Columbia. The firm advised that now that Canadians are settling into their coronavirus driven self-isolation routines they have shown more interest in seeking virtual medical advice to avoid clinics and hospital emergency rooms. The company indicated that the CloudMD service has averaged more than 110 consultations per day since the start of the coronavirus self-isolation period.

The firm reported that the number of patient consultations scheduled through the app has increased significantly by greater than 69% in the last two weeks and that there has been a 71% increase in the number of app downloads since the coronavirus self-isolation period in Canada began.

The firm stated that telemedicine service "provides a vital service because it increases capacity at hospitals that were already operating beyond capacity pre-coronavirus."

The company noted that its CEO Essam Hamza, M.D., "sees the quick response of provincial governments to adopt telemedicine consultations as a positive reinforcement for the future of digital healthcare."

Dr. Hamza remarked, "The coronavirus pandemic has transformed public behavior faster than ever before, and in response we're seeing government move at uncharacteristic speed to adapt to this "new normal" we find ourselves in...With many global forecasts predicting the coronavirus crisis will last until spring 2021, this is our opportunity to show the benefits of telemedicine, and how it can be used effectively to receive timely care and reduce strain on hospital resources, while minimizing the outbreak's spread."

The company highlighted that its CloudMD app is now available to 20 million patients in British Columbia and Ontario and that its telemedicine services are available every day of the week to users from 9 am to 7 pm Monday thru Friday and from 9 am to 5 pm on Saturdays and Sundays.

The company stated that it aims to digitize healthcare delivery and offer patients access to all points of their medical care from their either their phone, tablet or desktop computer. The company indicated that its healthcare ecosystem includes 315 clinics with more than 3,000 licensed practitioners and nearly 3 million registered patients.

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Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with CloudMD Software & Services Inc. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of CloudMD Software & Services Inc., a company mentioned in this article.
6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.




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