Cloud DX Signs Contract with Paramedical Service Provider for Remote Patient Monitoring

Rhea-AI Summary

Cloud DX has secured a 24-month contract with an Ontario Paramedic Service Provider to implement its Connected Health™ platform for Remote Patient Monitoring (RPM). The deal, valued at approximately $145,000 CAD, involves the deployment of 223 monitoring kits funded by Ontario's $82.5M Community Paramedicine for Long-Term Care program. This initiative aims to enhance community health by enabling paramedics to monitor vital signs at home, potentially reducing emergency visits and hospital admissions. The transition to Cloud DX's platform underscores its commitment to supporting healthcare innovation.

Positive

• Secured a 24-month contract valued at ~$145,000 CAD for RPM services.
• Deployment of 223 Remote Patient Monitoring kits enhances healthcare access.
• Funding support from Ontario's $82.5M program demonstrates government backing.

Negative

• None.

Cloud DX chosen as Virtual Care Platform for the Ontario Paramedical Service provider, replacing existing hardware and services

KITCHENER, ON / ACCESSWIRE / March 29, 2022 / Cloud DX (TSXV:CDX)(OTCQX:CDXFF) is pleased to announce a new 24-month contract with an Ontario Paramedic Service Provider enabling the client to provide Remote Patient Monitoring (RPM) across its serviceable area. Cloud DX will provide its award-winning Connected Health™ platform and support the client as it transitions from its previous remote care tools to Cloud DX's Virtual Care Platform. The client showcases how beneficial ‘Remote Care Monitoring' is for Paramedical Service providers, enabling providers to establish deeper community roots and maintain funding levels, while community members benefit from greater access to much-needed care. The client has purchased 223 Connected Health™ kits totalling ~$145,000 CAD with additional recurring fees for subscription software services. Funding for the program comes from the $82.5M Community Paramedicine for Long-Term Care program announced by the Ontario government on October 22, 2021.

The Paramedical client will provide Cloud DX's biometric monitoring equipment to clients in their homes to monitor vital signs including weight, blood pressure, heart rate, oxygen level, temperature, and blood glucose. Daily monitoring allows the client and health care providers to make informed decisions and enables the Paramedic to connect with the client if a metric is out of range. The paramedical care provider seeks to keep individuals on the long-term care bed waitlist and individuals who are medically complex or isolated comfortable and safe in their homes. In turn, Remote Care Monitoring is expected to reduce 911 calls, emergency room visits, and hospital admissions.

Cloud DX COO and co-founder, Anthony Kaul, states "At-home remote monitoring is critical to improving the health of vulnerable populations, such as community members with chronic conditions or seniors who wish to live independently for as long as possible. By bringing Remote Care Monitoring directly to the community our client is forging a new path in paramedicine. This modern approach improves community health and enables significantly earlier intervention for those with deteriorating health, in turn reducing hospitalizations. Cloud DX is well known for our high user satisfaction ratings, so we are confident this initiative will be well received by the community. Of course, with our Headquarters in Ontario, we're always extremely happy to support our neighbouring communities."

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 was named a "New Innovator 2022" by Canadian Business magazine. Cloud DX is an exclusive virtual care partner to Medtronic Canada and Equitable Life.

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Marketing Lead
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SOURCE: Cloud DX Inc.

View source version on accesswire.com:
https://www.accesswire.com/695075/Cloud-DX-Signs-Contract-with-Paramedical-Service-Provider-for-Remote-Patient-Monitoring

FAQ

What is Cloud DX's new contract with the paramedic service provider?

Cloud DX has signed a 24-month contract to provide Remote Patient Monitoring services using its Connected Health platform.

How much is the contract with the Ontario Paramedic Service Provider worth?

The contract is valued at approximately $145,000 CAD.

What is the purpose of Cloud DX's Remote Patient Monitoring?

The RPM service aims to monitor vital signs at home, improving healthcare access and potentially reducing emergency visits.

What funding supports Cloud DX's initiative with the paramedic service?

The program is funded by Ontario's $82.5M Community Paramedicine for Long-Term Care initiative.

What technology is Cloud DX providing to the paramedic service?

Cloud DX is providing its Connected Health™ platform and biometric monitoring equipment for RPM.