Cloud DX and Prizm Media to Provide Patients with Direct Access to Remote Patient Monitoring

Rhea-AI Summary

Cloud DX has launched a patient-first program in collaboration with Prizm Media to enhance access to remote patient monitoring (RPM) for individuals with chronic illnesses across the US, specifically targeting states like Illinois, New Jersey, and Florida. The program aims to connect up to 2,000 seniors to Cloud DX's Connected Health^TM platform, potentially generating US$1.4 million in annual revenue at a 75% gross margin. The partnership will streamline enrollment processes, benefiting healthcare accessibility for patients in need.

Positive

• Launch of a new patient-first program to enhance access to RPM.
• Expected annual revenue of US$1.4 million at a 75% gross margin.
• Plans to connect up to 2,000 seniors to the Connected HealthTM platform.

Negative

• None.

Patient-First Program Opens Direct Access to thousands of US Patients

• Cloud DX partners with Prizm Media on a new ‘patient-first' program to improve patient access to RPM in a uniquely scalable way.
• The contract gives Cloud DX and physician partners immediate access to thousands of patients with chronic illnesses in initial rollout states (Illinois, New Jersey, and Florida) through Prizm's extensive patient database.
• On launch, Cloud DX plans to connect up to 2,000 eligible US seniors to its Connected Health^TM platform. Once fully deployed this equates to approximately US$1.4 million (CAD $1.8 million) per year in revenue at an expected gross margin of 75%.
• By pre-qualifying and educating patients, Cloud DX plans to reduce the current timeline between signing an RPM contract with a provider and enrolling patients.

WATERLOO, ON / ACCESSWIRE / September 16, 2021 / Cloud DX (TSXV:CDX)(OTCQB:CDXFF), a leading North American provider of virtual care and Remote Patient Monitoring (RPM) solutions, is pleased to announce a new program in the United States that aims to identify, qualify, and enroll selected patients with chronic conditions in Illinois, New Jersey, and Florida for reimbursed RPM programs. Other States may also be targeted.

"Our mission is to make healthcare better for everyone, and that includes accessibility. Many patients can benefit from RPM, but often due to implementation challenges, these individuals are unable to access remote monitoring to manage their disease symptoms and progression," says Robert Kaul, CEO of Cloud DX.

"With this program, we're giving power back to the patient. We intend to dramatically expedite access to RPM services for patients with a high degree of need by working with a highly compliant firm like Prizm, that has vast experience in identifying and engaging those most likely to benefit. They can opt-in on their own, with their personal physician, or through a Cloud DX partner physician. Streamlined access to RPM means we'll be able to more quickly connect patients to healthcare services, relieving some of the burden from an overwhelmed healthcare system."

Prizm Media specializes in compliant omnichannel marketing for healthcare firms and has relationships with over 1,000,000 US patients diagnosed with one or more chronic conditions. Cloud DX and Prizm will launch a marketing program that will aim to identify up to 2,000 patients with late-stage COPD in States with large senior populations. Patients will be onboarded to a Connected Health^TM RPM plan, optimized to work for them, deployed by their primary care provider or a Cloud DX partner.

When a patient enrolls in an RPM program deployed by Cloud DX, the Company earns a per-patient-per-month fee up to US$60/month, or US$720/year. Under a contract executed on September 15, 2021, Cloud DX will pay Prizm an initial US$30,000 per month for three months in marketing fees with option to extend and scale up. No minimum or maximum number of patients is specified under the Safe Harbor and fair market value arrangement. Prizm has specialized in outreach to US patients with chronic illness since 2001.

This new patient-first approach augments Cloud DX's previously announced programs marketing Connected Health services directly to clinics and hospitals.

Join CEO, Robert Kaul in October for an in-depth look at Cloud DX's future revenue outlook. The next monthly investor's update, ‘Gearing Up Revenue', will be held October 12, at 12:00 pm EDT. Registration is now live.

About Prizm Media

Prizm Media was founded in 2001 with the vision of making an impact in healthcare through digital media & technology using a compliance first approach They have connected millions of people with chronic conditions across North America to hundreds of vetted healthcare organizations . Their services have enabled healthcare firms to grow revenues, create jobs and reduce environmental impacts by improving patient-to-provider workflows, while also improving patient outcomes and delivery of care. Prizm Media an EY Entrepreneur of the Year Award Finalist, Profit 500 recipient and was recently recognized as one of the BC500 by Business in Vancouver in the Health Tech category.

About Cloud DX

Accelerating virtual healthcare's future, Cloud DX is making healthcare better for everyone. The company's Connected Health ^TM remote patient monitoring platform is used by healthcare enterprises and care teams across North America to virtually manage chronic disease, enable ageing in place, and deliver hospital-quality post-surgical care. Providers partnering with Cloud DX achieve better healthcare and patient outcomes, reduce the need for hospitalization/re-hospitalization, and reduce healthcare delivery costs through more efficient use of resources. Cloud DX is the co-winner of the Qualcomm Tricorder XPRIZE, a 2021 Edison Award winner, a Fast Company "World Changing Idea" finalist, and one of "Canada's Ten Most Prominent Telehealth Providers."

Cloud DX Investor Site

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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For media inquiries please contact:
Janine Scott
Marketing Lead
888-543-0944
janine.scott@clouddcx.com

For investor inquiries please contact:
Jay Bedard
Cloud DX Investor Relations
647-881-8418
jay.bedard@CloudDX.com

SOURCE: Cloud DX Inc.

View source version on accesswire.com:
https://www.accesswire.com/664378/Cloud-DX-and-Prizm-Media-to-Provide-Patients-with-Direct-Access-to-Remote-Patient-Monitoring

FAQ

What is Cloud DX's new program announced on September 16, 2021?

Cloud DX has launched a patient-first program in partnership with Prizm Media to improve access to remote patient monitoring for chronic illness patients in specific US states.

How many patients does Cloud DX plan to enroll in its new RPM program?

Cloud DX plans to enroll up to 2,000 eligible US seniors in its Connected HealthTM platform.

What is the potential revenue impact of the new program for Cloud DX?

The program could generate approximately US$1.4 million annually at an expected gross margin of 75%.

Which states are initially targeted for Cloud DX's RPM program?

The initial rollout states for the program are Illinois, New Jersey, and Florida.

Who is collaborating with Cloud DX on the new patient access program?

Cloud DX is collaborating with Prizm Media to identify and enroll patients for the RPM program.