WELL Health Announces Support of Ontario Government Initiatives to Reduce Wait Times

Rhea-AI Summary

WELL Health Technologies Corp. (OTCQX: WHTCF) supports the Ontario Government's strategy to reduce healthcare wait times by partnering with independent providers for essential diagnostic services. This initiative, announced by Premier Doug Ford and Health Minister Sylvia Jones, targets MRI, CT, colonoscopy, and endoscopy services. WELL’s subsidiary, MyHealth Partners, is the largest service provider in Ontario, while CognisantMD's Ocean platform streamlines referral processes, cutting unnecessary MRIs by 12% and overall wait times by 20%. The company aims to enhance patient outcomes and health equity through timely and quality care.

Positive

• WELL supports the Ontario Government's initiative to reduce wait times for diagnostic services, improving healthcare accessibility.
• MyHealth Partners is the largest diagnostic service provider in Ontario, enhancing its ability to support government initiatives.
• CognisantMD's Ocean platform has reduced unnecessary MRIs by 12% and overall wait times by 20%, demonstrating effective healthcare delivery.

Negative

• None.

• The Ontario Government announced a multi-pronged strategy to reduce wait-times by partnering with independent service providers for Ontarians in several areas including areas associated with MRI, CT, colonoscopy, and endoscopy services.
• WELL's Ontario based MyHealth Partners is the largest single license holder and service provider for Specialty clinics providing diagnostics in the province of Ontario and is keen to support Ontario's mandate particularly in areas of diagnostic imaging.
• WELL's subsidiary, CognisantMD, is using its Ocean platform to help care providers reduce unnecessary MRIs and dramatically lower central intake referral processing times.

VANCOUVER, BC, Feb. 7, 2023 /PRNewswire/ - WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF) ("WELL" or the "Company"), is pleased to announce its support for the Government of Ontario's recent plan to expand the delivery of OHIP-covered healthcare services through existing healthcare clinics in Ontario.

On January 16th, Premier Doug Ford and Health Minister Sylvia Jones announced their plans to reduce patient wait times for various surgical and diagnostic imaging procedures by leveraging existing community surgical and diagnostic centres across Ontario. This initiative aims to eliminate surgical backlogs, reduce wait times, expedite the diagnosis process, and accelerate treatment delivery for all patients across the province. During the announcement, the Premier made several commitments including "a multi-pronged strategy to reduce wait times by partnering with independent service providers for Ontarians in several areas including areas associated with MRI, CT, colonoscopy, and endoscopy services."

"Improving accessibility to important health services such as diagnostic imaging is vital to ensuring the long-term sustainability of healthcare in Ontario," said Michael Frankel, Chief Medical Officer of WELL. "Early detection and treatment of diseases can reduce symptoms, reduce complications, and increase the likelihood of recovery for patients. This initiative promotes health equity and improved patient outcomes and for this reason, we look for opportunities to assist in its implementation."

MyHealth Partners ("MyHealth"), a wholly owned subsidiary of WELL, is the largest single license holder and service provider for specialty clinics providing diagnostics in the province of Ontario. MyHealth Partners is keen to support the government's new commitment, particularly in areas of diagnostic imaging. With nearly 50 locations across the province in both urban and rural communities, MyHealth is ideally suited to support these initiatives in a timely and cost-effective manner, while working seamlessly with public institutions like Hospitals and the Ministry of Health. MyHealth has been awarded one of the Best Workplaces in Healthcare in Ontario and has prided itself on recruiting and training new graduates and newcomers to the country for many years.

As the largest operator of Independent Health Facilities ("IHF") in Ontario and the only one that is accredited by Accreditation Canada with Commendation, MyHealth is widely recognized for its high-quality standards of patient care. MyHealth has invested in state-of-the-art equipment and facilities and is publicly attested by nearly 20,000 Ontarian Google reviews with an average rating of 4.9 out of 5, as offering quality patient care through innovation, compassion, and integrity, thus enhancing the overall patient and physician experience.

Dina Sergi, Vice-President of Operations for MyHealth commented, "Our talented and committed Ontario based staff is looking forward to working with the government to improve access to healthcare for Ontarians and reduce wait times for vital diagnostic procedures. As a long-standing and accomplished partner within the Ontario healthcare system, we are committed to making ongoing investments in the province to ensure that patients get access to timely treatment and quality care."

Furthermore, another WELL subsidiary, CognisantMD, has been instrumental in helping care providers reduce wait times for patients in Ontario with its Ocean platform, which is used to process more than 60,000 referrals electronically each month. According to Ontario eServices, Ocean's eReferral technology has been shown to reduce unnecessary MRIs by as much as 12% and wait times by 20%. This not only improves access to patient care, but also reduces the overall burden on Ontario's healthcare system. With these impressive results, WELL Health continues to demonstrate its leadership and commitment to improving healthcare delivery in Ontario.

WELL HEALTH TECHNOLOGIES CORP.

Per: "Hamed Shahbazi"
Hamed Shahbazi
Chief Executive Officer, Chairman and Director

About WELL Health Technologies Corp.

WELL is a practitioner focused digital healthcare company whose overarching objective is to positively impact health outcomes to empower and support healthcare practitioners and their patients. WELL has built an innovative practitioner enablement platform that includes comprehensive end-to-end practice management tools inclusive of virtual care and digital patient engagement capabilities as well as Electronic Medical Records (EMR), Revenue Cycle Management (RCM) and data protection services. WELL uses this platform to power healthcare practitioners both inside and outside of WELL's own omni-channel patient services offerings. As such, WELL owns and operates Canada's largest network of outpatient medical clinics serving primary and specialized healthcare services and is the provider of a leading multi-national, multi-disciplinary telehealth and EMR offering. WELL is publicly traded on the Toronto Stock Exchange under the symbol "WELL" and trades on the OTCQX under the symbol "WHTCF". To learn more about the Company, please visit: www.WELL.company.

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SOURCE WELL Health Technologies Corp.

FAQ

What is WELL Health's involvement in Ontario's healthcare wait time reduction?

WELL Health Technologies Corp. supports Ontario's strategy to reduce healthcare wait times by partnering with independent service providers for diagnostic imaging services.

How has CognisantMD contributed to healthcare in Ontario?

CognisantMD's Ocean platform has significantly reduced unnecessary MRIs by 12% and cut wait times by 20%, improving patient care efficiency.

What services is WELL Health focusing on in Ontario?

WELL Health is focusing on MRI, CT, colonoscopy, and endoscopy services as part of the Ontario Government's healthcare initiatives.

Who are the main stakeholders in the Ontario healthcare wait time initiative?

The main stakeholders include the Ontario Government, WELL Health Technologies Corp., and independent service providers like MyHealth Partners.