Amesite Launches NurseMagic™ Pilot Programs with Five Healthcare Companies

Rhea-AI Summary

Amesite Inc. (NASDAQ: AMST) has launched NurseMagic™ pilot programs with five healthcare companies, collectively employing over 30,000 workers across 41 states in home care, hospice, and skilled nursing. The company estimates the app will significantly reduce costs and improve patient care. NurseMagic™ aims to make the healthcare workforce at least 30% more productive at less than 2% of wage costs.

The home healthcare sector, projected to grow from $100 billion to $176 billion by 2032, employs about 3.9 million U.S. workers with an annual growth rate of 21%. Amesite anticipates substantial quarter-to-quarter revenue increases from NurseMagic™. The app has already built a user base across all 50 U.S. states and six nations in just 8 weeks since its public launch.

Positive

• NurseMagic™ pilot programs launched with five healthcare companies, potentially reaching over 30,000 employees
• Estimated 30% increase in workforce productivity at less than 2% of wage costs
• Rapid user base expansion across all 50 U.S. states and six nations in 8 weeks
• 93% accuracy achieved in answering model NCLEX questions
• Potential for significant quarter-to-quarter revenue increases

Negative

• None.

Participants Collectively Employ over 30,000 Across 41 States in Home Care, Hospice and Skilled Nursing. Company Estimates App Will Dramatically Reduce Costs and Improve Patient Care

DETROIT, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Amesite Inc. (NASDAQ: AMST), a pioneering technology company specializing in the development and marketing of B2C and B2B AI-driven solutions, announced today the launch of pilot programs in five (5) home health agencies and skilled nursing facilities across the U.S. Collectively, these companies and their franchisees have over 30,000 employees, ranging in professions from clinical officers, CMPs, CNSs, NPs, RNs, Pediatric RNs, PTs, OTs, LVNs/LPNs, CNAs, NAs, Home Care Nurses, HHAs and caregivers.

NurseMagic™’s five pilot customers provide skilled nursing, hospice care services and home healthcare. The largest of the represented segments, home healthcare, is an enormous and growing sector projected to grow from $100 billion to over $176 billion by the year 2032. In 2023, home health care employed about 3.9 million U.S. workers. This workforce is growing at an impressive annual rate of 21%. Collectively, estimated wages for this workforce are in excess of $130 Billion / year. As of 2021, there were about 15,000 skilled nursing facilities and 11,000 home health agencies in the U.S.

Amesite Founder and CEO, Dr. Ann Marie Sastry, said, “We anticipate very significant quarter to quarter revenue increases with NurseMagic™. For less than 2% of the cost of wages, our technology can make this entire workforce at least 30% more productive, while simultaneously improving the quality of patient care. Considering the total wages in this sector are approximately $130 Billion annually, we view the revenue potential for Amesite to be significant.”

Sastry continued, “We also believe that our customers’ risk will be reduced because of the quality and accuracy of the app in delivering requisite documentation and other guidance. Because of the efficiency of our systems, we believe that we can do so at highly attractive margins that enable sustained growth. The need for NurseMagic™ is acute with high turnover, staffing shortages and unmet needs in home health care. We are addressing market pain directly with our proprietary technology.”

VP of Sales, Brandon Owens, said, “The legitimacy and excellent performance of the app underpins our early success with these enterprise engagements, along with years of experience working in the very challenging academic sector. Our proprietary technology uses only qualified data sources and has demonstrated speed, accuracy and reliability. Feedback from customers has been extremely positive, and organizations have been eager to work with us once they see the capabilities.”

Corporate Operations and Marketing Manager, Madison Bush, said, “The strongly positive response of nurse influencers has helped us build a social media following of over 20,000 in just a few months and has enabled us to dramatically expand our user base. We are thrilled that the response from enterprise customers, who can bring us many thousands of users with each successive agreement, has been similarly enthusiastic. We are extremely excited to build our outreach and relationships at a much larger scale, leveraging the fast progress we have demonstrated with our B2C marketing.”

In just 8 weeks since the public launch of the app, NurseMagic™ built usership across all fifty (50) U.S. states and six (6) nations. Weeks earlier, the company announced NurseMagic™ technology had achieved 93% accuracy in answering model NCLEX questions.

A short video explaining the app’s capabilities can be found at www.nursemagic.ai.

About Amesite Inc.

Amesite Inc. (Nasdaq: AMST) is a pioneering technology company specializing in the development and marketing of B2C and B2B AI-driven solutions, including its higher ed platform that offers professional learning. Leveraging its proprietary AI infrastructure, Amesite offers cutting-edge applications that cater to both individual and professional needs. NurseMagic™, the company’s mobile healthcare app, streamlines creation of nursing notes and documentation tasks, enhances patient communication, and offers personalized guidance to nurses on patient care, medications, and handling challenging workplace situations. The Preacto™ (beta) is a personal safety application designed to provide real-time alerts and guidance in the event of emergency situations, including active shooter incidents.

Forward Looking Statements

This communication contains forward-looking statements (including within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended) concerning the Company, the Company's planned online machine learning platform, the Company's business plans, any future commercialization of the Company's online learning solutions, potential customers, business objectives and other matters. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “plan,” “believe,” “intend,” “look forward,” and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement. Risks facing the Company and its planned platform are set forth in the Company's filings with the SEC. Except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Relations Contact:

MJ Clyburn
TraDigital IR
clyburn@tradigitalir.com

SOURCES

https://www.bls.gov/ooh/healthcare/home-health-aides-and-personal-care-aides.htm#:~:text=Employment%20of%20home%20health%20and,on%20average%2C%20over%20the%20decade

https://www.statista.com/statistics/195317/number-of-medicare-skilled-nursing-facilities-in-the-us/

https://www.statista.com/statistics/195318/number-of-medicare-home-health-agencies-in-the-us/

https://www.fortunebusinessinsights.com/u-s-home-healthcare-services-market-105568

https://www.bls.gov/oes/current/oes311120.htm

FAQ

What is the projected growth of the home healthcare sector by 2032 according to Amesite's press release?

According to Amesite's press release, the home healthcare sector is projected to grow from $100 billion to over $176 billion by the year 2032.

How many healthcare companies are participating in Amesite's NurseMagic™ pilot programs?

Amesite (NASDAQ: AMST) has launched NurseMagic™ pilot programs with five healthcare companies, including home health agencies and skilled nursing facilities across the U.S.

What is the estimated productivity increase for healthcare workers using NurseMagic™?

Amesite estimates that NurseMagic™ can make the healthcare workforce at least 30% more productive while costing less than 2% of wages.

How quickly did NurseMagic™ expand its user base after the public launch?

In just 8 weeks since its public launch, NurseMagic™ built a user base across all fifty (50) U.S. states and six (6) nations.