CloudMD Receives U.S. Patent Approval for its Proprietary Real Time Intervention Platform (RTIP)

Rhea-AI Summary

CloudMD Software & Services has received U.S. Patent Approval for its Real Time Intervention Platform (RTIP), vital for its healthcare technology. This platform ensures data integration and real-time analytics across various healthcare services. Already trusted by agencies like the U.S. Department of Justice, CloudMD is positioned well, having onboarded over 260,000 users with strong outcomes, including a 78% net promoter score. Additionally, CloudMD has secured a six-year contract with Nebraska to modernize health systems, enhancing its growth strategy across North America.

Positive

• U.S. Patent Approval for RTIP strengthens proprietary technology.
• Onboarded over 260,000 individuals with a net promoter score of 78%.
• RTIP platform operational with government agencies, enhancing credibility.
• Secured a six-year contract with Nebraska for modernization of health systems.

Negative

• None.

• This platform is the technology that supports interoperability and provides the integration of all of CloudMD’s healthcare capabilities
• Platform is trusted by various local, state and federal agencies including the U.S. Department of Justice and U.S Department of Health and Human Services
• RTIP will power the Company’s data warehouse to support real time analytics, data and outcomes
• One of five companies awarded a six year contract by the State of Nebraska to assist in the modernization of Health and Human Service systems

VANCOUVER, British Columbia, Oct. 27, 2021 (GLOBE NEWSWIRE) -- CloudMD Software & Services Inc. (TSXV: DOC, OTCQB: DOCRF, Frankfurt: 6PH) (the “Company” or “CloudMD”), a healthcare technology company transforming the delivery of care, is pleased to announce that through its subsidiary, IDYA4 LLC., it has received U.S. Patent Approval for its Real Time Intervention Platform (“RTIP”) which is the technology backbone for CloudMD’s comprehensive healthcare platform that addresses all points of a patients care from one, connected platform. Given the continued rapid growth of the Company, receiving patent approval is both timely and very important for CloudMD, as it protects its proprietary intellectual property.

This technology connects and integrates the Company’s capabilities and supports a data exchange across primary care, mental health, specialists, rehabilitation, occupational health, and education, providing a holistic approach to managing the health and wellness of individuals.

CloudMD is targeting the employer market with its comprehensive healthcare platform and has already onboarded over 260,000 individuals who are receiving customized health plans. A key component of this technology is the ability to report data, analytics and outcomes to measure the success of programs securely with all the required privacy controls. This connected approach to care is already receiving positive outcomes with a net promoter score of 78% and results where 91% of reassessed individuals with depression showing improvement and 89% of reassessed individuals with anxiety showing symptom improvement.

Dr. Essam Hamza, CEO of CloudMD commented, “Receiving this patent now is both extremely critical and timely as it safeguards our proprietary technology, which is core to our integrated healthcare platform. The RTIP technology connects all our different capabilities and shares valuable data in real-time. We have already seen significant growth across the United States as various modules of our platform are being rolled out to support a number of key health and wellness programs. As a key part of our expansion strategy, we will continue to roll out these programs across North America.”

Karen Adams, President of CloudMD commented, “The RTIP platform will support CloudMD’s data warehouse infrastructure making it capable of receiving, transforming and storing personal health data from care plans, provider-based electronic medical records, health profiles, health apps, wearables, devices, and benefit providers. This infrastructure will drive further insights and recommendations to personalize care, in real time, for providers and users. Traditional healthcare systems and programs are siloed and hard to navigate. CloudMD’s proprietary platform delivers connected, holistic care resulting in better access to care and improved health outcomes. The RTIP technology is the cornerstone to our comprehensive health services platform, and we believe that this technology is a key differentiator in confidentially being able to connect users, analyze data and ensure effective health outcomes.”

The RTIP platform’s patent is a testament to its purposeful ability to deliver real-time health data integration in a secure manner. The platform has been tested and continues to be used by the U.S. Department of Justice, U.S. Department of Health and Human Services as well by various other government agencies at the federal, state and local level. The RTIP platform has multiple use cases within the U.S. including, but not limited to, law enforcement health and wellness, substance use disorder programs and in the realm of opioid addiction.

Within the law enforcement community, the RTIP platform is the foundation of the integrated platform and is being used to provide access to health and wellness resources and support to the law enforcement community.  Individuals can access the platform and resources from one point within their own private environment without compromising their privacy and data security. This platform is being used widely across various states and counties and currently 1,500 law enforcement officials have access.

The RTIP platform is also being used to identify and eliminate overdose deaths due to substance use disorders. This program has already been onboarded by a county in New Jersey and additional funding has been received to expand the program to additional counties within the state. CloudMD has built a scalable platform and is focused on creating a national model that can be expanded to support additional states across the U.S.

The RTIP platform is also being used to support the national opioid crisis, connecting public health, social services, and public safety systems to address the real time needs of the individuals who have overdosed or may be at risk.  This program funded by the U.S. Department of Justice and a local public safety agency and is already operational in New Jersey. CloudMD has been awarded an additional contract by the State of Nebraska to assist in the modernization of Health and Human Service systems for the state.  The contract covers a six year period and CloudMD is one of the five companies that has been collaboratively awarded the contract.

About CloudMD Software & Services

CloudMD is transforming the delivery of healthcare using technology and by providing a patient-centric approach, with an emphasis on continuity of care. By leveraging healthcare technology, the Company is building one, connected platform that addresses all points of a patient’s healthcare journey and provides better access to care and improved outcomes. Through CloudMD’s proprietary technology, the Company delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, healthcare navigation, educational resources and artificial intelligence (AI). CloudMD’s Enterprise Health Solutions Division includes one of the top 4 Employee Assistance Programs in Canada and offers one comprehensive, digitally connected platform for corporations, insurers and advisors to better manage the health and wellness of their employees and customers.

CloudMD currently services a combined ecosystem of over 7,000 psychiatrists, approximately 4,500 therapists and counsellors, approximately 4,000 psychologists, over 22,000 family physicians, over 34,000 medical specialists, over 1,500 allied health professionals across North America. For more information visit: https://investors.cloudmd.ca.

ON BEHALF OF THE BOARD OF DIRECTORS

“Dr. Essam Hamza, MD"
Chief Executive Officer

FOR ADDITIONAL INFORMATION, CONTACT:

Julia Becker
VP, Investor Relations
julia@cloudmd.ca
(604) 785-0850

Forward Looking Statements

This news release contains forward-looking statements that are based on CloudMD’s expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to its business plans. Although CloudMD believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and CloudMD undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

FAQ

What is the significance of the U.S. Patent Approval for CloudMD's RTIP?

The U.S. Patent Approval for the RTIP protects CloudMD's proprietary technology, which is essential for data integration and real-time analytics across its healthcare platform.

How many individuals has CloudMD onboarded with its healthcare platform?

CloudMD has onboarded over 260,000 individuals to its comprehensive healthcare platform.

What contract did CloudMD secure in Nebraska?

CloudMD was awarded a six-year contract by the State of Nebraska to assist in modernizing Health and Human Service systems.

How is the RTIP platform being used by government agencies?

The RTIP platform is currently used by the U.S. Department of Justice and the U.S. Department of Health and Human Services for various health and wellness programs.