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Proprietary technology platform immediately available for corporations and providers across all 50 states in the U.S. to better manage the health and wellbeing of their employees
- Expands established U.S. footprint to include physical care and mental health support
- More than 2 in 5 residents in the U.S. report struggling with mental or behavioral health issues associated with COVID-19 pandemic, including anxiety, depression, increased substance use, and suicidal thoughts
- Integral step in CloudMD’s North American expansion strategy to integrate solutions to provide one, centralized healthcare platform to provide seamless, whole-person care to patients
VANCOUVER, British Columbia, Feb. 09, 2021 (GLOBE NEWSWIRE) -- CloudMD Software & Services Inc. (TSXV: DOC, OTCQB: DOCRF, Frankfurt: 6PH) (the “ Company ” or “ CloudMD ”), a healthcare technology company revolutionizing the delivery of care to patients, is excited to announce that it has expanded its mental health services into the United States. Snapclarity Inc. (“ Snapclarity ”), CloudMD’s mental health solution is now available for providers and corporations (B2B) in the United States through its proprietary technology app, providing individuals with direct access to clinical assessments that: support risk and diagnosis, provide an immediate connection to care that allows individuals to self-manage, create responsive coping mechanisms and control symptoms through the delivery of personalized therapeutic support.
There is an immediate demand for mental health services in North America. According to the Centers for Disease Control and Prevention, more than 2 in 5 residents in the U.S. report struggling with mental or behavioral health issues associated with COVID-19 pandemic, including anxiety, depression, increased substance use, and suicidal thoughts. (1) Combined with iMD Global Health which is already available in the U.S., CloudMD’s mental health services provide support around various mental health issues, personalized care pathways and valuable educational resources for corporations and insurers to provide better access to care and improved, holistic treatment options to manage the health and wellbeing of their employees and family members. The platform is currently utilized by employers, individuals, therapists and insurers and offers a continuity of care program that effectively blends the supported intervention with technology, artificial intelligence and human touch. This is accomplished through a suite of proprietary digital tools that are designed by clinicians and grounded in evidence-based practices that are proven to positively impact outcomes.
CloudMD’s Employee Assistance Program provider, HumanaCare Inc. (“ HumanaCare ”), also has an existing client base in the U.S. and by integrating Snapclarity’s software into the platform, HumanaCare will improve the current client offering, and will continue to expand its enterprise footprint with this integrated, whole-person solution.
CloudMD already has a significant footprint in the U.S. including Benchmark Systems, which offers revenue cycle management/billing solutions, practice management and electronic medical records software, and services 200 clients, 800 physicians, across 5.5 million patient charts in 35 states. Further, the Company acquired IDYA4, as its technology enabler for future digital transformation and interoperability in the healthcare space. Currently IDYA4’s data platform is used at federal and state levels in partnership with the Department of Justice, Homeland Security and Health and Human Services to name a few. CloudMD remains focused on its U.S. expansion and rolling out its mental health services to its current footprint as well as new enterprise clients is an important next step in that strategy.
CloudMD has grown its network of medical professionals which now includes: 7,000 psychiatrists, over 4,500 therapists and counsellors, over 4,000 psychologists, over 22,000 family physicians, 34,000 medical specialists, over 1,500 allied health professionals and a dedicated research team across North America. This extensive network is the foundation for CloudMD to scale and grow its healthcare platform quickly and efficiently.
Amit Mathur, President of CloudMD commented, “ We have an aggressive multi-pronged North American expansion plan that includes both physical and mental health services. We recognize the significant opportunity and need for mental health support in the United States and now we can support corporations and providers to better manage the mental health needs of the workforce. With our local expertise and infrastructure in place, we expect to see significant growth in the U.S. as we continue with the integration of our solutions.”
About Snapclarity
Snapclarity is a pioneer, on-demand, digital platform that provides an assessment for mental health disorders which includes a personalized care plan, access to online resources, a clinical health care team and the ability to match to the right therapists. To learn more about Snapclarity visit: www.snapclarity.com and to download the individual app please visit the Apple Store and/or the Google Play Store.
For more corporations and insurers needing more information on the suite of services please contact: info@cloudmd.ca .
About CloudMD Software & Services
CloudMD is digitizing the delivery of healthcare by providing a patient centric approach, with an emphasis on continuity of care. The Company offers SAAS based health technology solutions to healthcare providers across North America and has developed proprietary technology that delivers quality healthcare through a holistic offering including hybrid primary care clinics, specialist care, telemedicine, mental health support, educational resources and artificial intelligence (AI). CloudMD currently services a combined ecosystem of over 500 clinics, almost 4000 licensed practitioners and 8 million patient charts across North America. For more information on CloudMD visit
www.cloudmd.ca
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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
Forward Looking Statements
This news release contains forward-looking statements, including statements regarding projected revenue, future business synergies and cost savings. Such forward-looking statements are based on CloudMD’s expectations, estimates and projections regarding its business and the economic environment in which it operates and the ability of the Company to carry out 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, including revenue projections, 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.
1. https://jamanetwork.com/channels/health-forum/fullarticle/2770050
