Cloud DX Announces Contracts in Two States

Rhea-AI Summary

Cloud DX has launched its Patient-First^TM program, aiming to serve 1 in 3 Americans with serious chronic illnesses. This program builds on their existing contracts with Dagamma, Prizm Media, and Maxwell Telecare, expanding their reach across six states and targeting an initial enrollment of 9,000 patients. The program aims to improve patient outcomes and potentially double enrollment rates in Tennessee and Georgia where they engage around 500 patients. With current reimbursement codes, Cloud DX anticipates achieving positive cash flow with this initiative.

Positive

• Launch of Patient-First^TM program targeting 33% of Americans with chronic illnesses.
• Anticipated increase in patient enrollment by up to 100% in Tennessee and Georgia.
• Expectation of positive cash flow upon reaching 9,000 enrolled patients.

Negative

• None.

Launching its Patient First^TM program, Cloud DX is available to 1 in 3 Americans

News in Summary

- 33% of America stands to benefit from newly launched Patient-First^TM program

- Builds upon proven track record of patient focused contracts with Dagamma, Prizm Media, and Maxwell Telecare

- Deepens roots in 6 states setting trajectory of initial 9000 patient goal

WATERLOO, ON / ACCESSWIRE / November 17, 2021 / Cloud DX (TSXV:CDX) (OTCQB:CDXFF), Adding to its access to over one million patients, Cloud DX announces the launch of its Patient-First^TM program and new contracts with Home Medical Providers in Tennessee and Georgia. Patient-First^TM identifies, enrolls, and supports patients who benefit most from Remote Patient Monitoring (RPM), in particular those with serious chronic illnesses, such as COPD, congestive heart failure, diabetes, or renal disease. This program is built upon Cloud DX's previously announced patient focused contracts with Dagamma, Prizm Media, and Maxwell Telecare, deepening the company's roots in six US states.

"1 in 3 people live with serious chronic illness. Patient-First^TM is for these most vulnerable people. With well over 50 million chronic care patients qualifying for reimbursable RPM in the US alone, there is a largely untapped market for technology that improves patient lives and outcomes, and reduces ER or hospital visits, especially in light of recent COVID spikes," stated Robert Kaul, CEO at Cloud DX. "Our new contracts in Tennessee and Georgia will deploy our Connected Health™ kits in a variety of settings, from hospice to home-care. With Patient-First™ we can match more patients to Home Medical Provider clinicians best able to care for them."

Geriatric family physician Dr. Paul Miranda at Home Medical Providers states "With our aging population, healthcare delivery is becoming more complex. The complexity when patients have several co-morbidities makes care a challenge and adds stress to systems, caregivers, and care teams. The Connected Health^TM system offers virtual and remote care tools to monitor these patients more effectively and identify risk of adverse events. Telehealth options including videoconferencing, electronic medical records systems integration, and their endearing patient support team are added benefits. Designed with Patients in mind, users love it, but what's great is that because it was designed by doctors, it works for our clinic staff, which is vital to help manage workloads more efficiently."

Using Patient-First™, Cloud DX works with physician partners to establish selection criteria that indicate a patient will benefit from RPM, controlling exacerbations, improving quality of life and avoiding hospitalization and ER visits. Under this contract, proprietary Cloud DX workflows are expected to increase the rate of patient enrollment by up to 100% in Tennessee and Georgia. Home Medical Providers addresses approximately 500 patients in those two states.

Cloud DX earns ~$900 CAD in annual recurring revenue (ARR) under current US reimbursement codes for remote monitoring. The company projects a positive cash flow upon reaching approximately 9,000 enrolled and compliant patients.

Cloud DX's upcoming investor meeting is set for noon on December 8, 2021. You can register here . Leadership will discuss Virtual Care as a Platform and associated revenue streams.

About Home Medical Providers

Home Medical Providers delivers professional care solutions to patients suffering from multiple acute or chronic conditions that require continued medical care management. We also provide care to individuals who may need immediate medical care but do not want to spend time in a hospital waiting room. While most of our patients request us to be their Primary Care Provider, a role we are happy to play, others choose to see our doctors on a one-time basis.

About Cloud DX

Accelerating virtual healthcare, Cloud DX is on a mission to make healthcare better for everyone. Our Connected Health ^TM remote patient monitoring platform is used by healthcare enterprises and care teams across North America to virtually manage chronic disease, enable aging in place, and deliver hospital-quality post-surgical care in the home. Our partners achieve better healthcare and patient outcomes, reduce the need for hospitalization or re-admission, 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 https://ir.clouddx.com/overview/default.aspx

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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Social Links
Twitter https://twitter.com/CloudDX
Facebook https://www.facebook.com/clouddxinc/
LinkedIn https://www.linkedin.com/company/cloud-dx/
Instagram https://www.instagram.com/cloud.dx/

For media inquiries please contact:
Janine Scott
Marketing Lead
888-543-0944
janine.scott@CloudDX.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/673400/Cloud-DX-Announces-Contracts-in-Two-States

FAQ

What is Cloud DX's Patient-First^TM program?

The Patient-First^TM program is designed to support patients with serious chronic illnesses, aiming to enhance patient outcomes through Remote Patient Monitoring.

How many patients does Cloud DX aim to enroll in the Patient-First^TM program?

Cloud DX targets an initial enrollment of 9,000 patients as part of the Patient-First^TM program.

What is the stock symbol for Cloud DX?

The stock symbol for Cloud DX is CDXFF.

When is the investor meeting for Cloud DX?

The Cloud DX investor meeting is scheduled for noon on December 8, 2021.

How does Cloud DX's Patient-First^TM program impact chronic care patients?

The program aims to improve the quality of life for chronic care patients by enhancing access to Remote Patient Monitoring services.