WELL Health Technologies Subsidiary Signs $38.5M Deal with BC's Provincial Health Services Authority to Roll Out 'eReferral & eOrders Platform'Friday, August 11, 2023
Vancouver, BC, August 11, 2023--(T-Net)--WELL Health Technologies Corp. (TSX: WELL), a digital healthcare company, announced that the Provincial Health Services Authority (PHSA) in British Columbia has selected the Ocean Platform, from WELL's wholly owned subsidiary, OceanMD, for its Digital Referral & Orders (DRO) Program.
OceanMD's platform is set to launch an array of digital services, such as eReferrals, eConsults, and eOrders, within British Columbia through a provincial platform.
This marks the third province in which OceanMD has been selected to enable these digital healthcare features.
The collaboration, cemented under a $38.5 million, sole source contract, promises to be a revolutionary tool for healthcare in British Columbia. Seamlessly integrating with existing clinical systems, the technology is explicitly designed to diminish inefficiencies, rework, and administrative hassles, further underlining OceanMD's commitment to transforming the Canadian healthcare landscape.
"Our team at OceanMD has worked tirelessly to create and refine our platform, and this contract with British Columbia's PHSA is a testament to the outstanding product we have developed" said Jeff Kavanagh, CEO of OceanMD. "I am immensely proud of the work we have accomplished and the positive impact we are making in tech-enabled healthcare. We are excited and grateful to be a part of the important work that British Columbia's provincial health authority is doing through their Digital Health Strategy. Together, we will drive innovation and efficiency, enhancing patient care across the province. Furthermore, we are proud to be part of a growing national effort to connect healthcare providers and patients using open, standards-based integrations and industry-leading digital health solutions"
The decision on the vendor for the DRO program was made after extensive consultation with providers, staff, patients, and experts, including clinical leaders, regional health authorities, Doctors of BC, and the Nurses and Nurse Practitioners of BC (NNPBC) Association. These consultations addressed pain points and future needs and were also part of the provincial RFP process. As the project progresses, continuous engagement with care providers, patients, and staff will ensure that the solution minimizes disruption and that ensure users are adequately trained.
The Ocean Platform, connecting over 30 leading healthcare systems and thousands of healthcare providers, establishes OceanMD as Canada's largest community of digital healthcare solutions.
Providers can easily manage digital referrals and orders, search for services, and fill pre-populated request forms, all within their primary clinical system. The platform streamlines clinical processes by digitizing traditional workflows and automatically updates both providers and patients on request statuses. This innovation enhances communication, transparency, and overall healthcare administration.
OceanMD's track record, with over 80,000 eReferrals and eConsults sent each month across hundreds of healthcare pathways and specialties, demonstrates its success in deploying provincial solutions for eReferrals, eConsults, and eOrders. OceanMD has notably proven its ability to reduce wait times by as much as 52 days, including a 35-day reduction in referral processing alone, thereby significantly improving patient access to care. In Ontario, the implementation of OceanMD's platform was shown to result in a 12% reduction in medically unnecessary MRIs, underlining a direct cost-saving impact for provincial health systems.
About WELL Health Technologies Corp.
WELL's mission is to tech-enable healthcare providers. We do this by developing the best technologies, services, and support available, which ensures healthcare providers are empowered to positively impact patient outcomes. WELL's comprehensive healthcare and digital platform includes extensive front and back-office management software applications that help physicians run and secure their practices.
WELL's solutions enable more than 31,000 healthcare providers between the US and Canada and power the largest owned and operated healthcare ecosystem in Canada with more than 148 clinics supporting primary care, specialized care, and diagnostic services. In the United States WELL's solutions are focused on specialized markets such as the gastrointestinal market, women's health, primary care, and mental health.
WELL is publicly traded on the Toronto Stock Exchange under the symbol "WELL" and on the OTC Exchange under the symbol "WHTCF". To learn more about the Company, please visit: www.well.company.
About the Provincial Health Services Authority
The Provincial Health Services Authority provides specialized health care services and programs to communities across British Columbia, the territories of many distinct First Nations. We are grateful to all the First Nations who have cared for and nurtured this land for all time, including the x?m??kw?y??m (Musqueam), Sk_wx_wu´7mesh U´xwumixw (Squamish), and s?lil?w??ta? (Tsleil-Waututh) First Nations on whose unceded and ancestral territory our head office is located. We work in partnership with other B.C. health authorities, health system partners and the provincial government to deliver province-wide solutions that improve the health of British Columbians.
Notice Regarding Forward Looking Information
Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. [ MORE ]
Notice Regarding Forward Looking Information
Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements.
These statements generally can be identified by the use of forward-looking words such as "may", "should", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the prospective lead order and the intended use of proceeds of the Offering.
There are numerous risks and uncertainties that could cause actual results and WELL's plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) adverse market conditions; (ii) risks inherent in the primary healthcare sector in general; (iii) that the proceeds of the Offering may need to be used other than as set out in this news release and other factors beyond the control of the Company. Actual results and future events could differ materially from those anticipated in such information.
These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.
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