CloudMD Software & Services (CSE: DOC) this morning updated the market on the significant growth seen by Livecare, the firms stand-alone telehealth platform. Most significantly, the company has been added to approved vendor lists with leading government healthcare associations across Canada, which includes Doctors of BC, OntarioMD, and a number of other associations that represent over 20,000 practitioners in Canada.
The addition to these approved vendors lists is significant, in that it enables Livecare to easily be integrated within numerous practitioner offices across the country. Most importantly, Livecare is now classified as an approved vendor to associations consisting of over 20,000 practitioners across British Colombia and Ontario that service all residents within these provinces, enabling the company to easily offer its platform for simple, secure, and user-friendly virtual healthcare integrations.
Given the current coronavirus pandemic-related restrictions exhibited across Canada, Livecare offers a unique opportunity for practitioners to continue to provide their service to patients via instant virtual care. CloudMD has exhibited dramatic growth since its acquisition of Livecare in January, with nearly 600 practitioners now utilizing the platform.
Since the first of March alone, CloudMD has onboarded over 200 new clients to the Livecare platform, thanks in part to offering the service for free to practitioners during the pandemic. The Livecare platform is now averaging over 1300 telemedicine visits a week and that figure is increasing – which equates to over 185 visits per day on average.
![“Livecare offers practitioners an immediate turnkey telehealth solution to give their patients access to virtual healthcare, especially important during COVID-19. Many practices have been forced to shut down and Livecare provides a secure, alternative for practitioners to continue providing the best care to their patients. […] Being included on the approved vendor lists of major health associations across Canada continues to validate Livecare’s leading secure telemedicine solutions. Many practitioners are looking to transition their practices virtually and Livecare supplements brick and mortar practices by providing an easy, user friendly virtual health care platform so doctors can better serve their communities and adapt to the new normal.”
Dr Essam Hamza, CEO](https://thedeepdive.ca/wp-content/uploads/2020/04/cloudmd-essam-quote-april-30-1024x576.jpg)
Livecare currently offers healthcare professionals a complete virtual healthcare solution. The platform streamlines records management, scheduling, consultations and appointments while offering secure patient to physician communication. Even more importantly, it offers a turnkey solution for practitioners that are transitioning their business to provide virtual care to patients as they need it.
CloudMD Software & Services last traded at $0.74 on the CSE and was notably identified as one of Bruce Campbell’s top picks during a BNN Bloomberg interview.
FULL DISCLOSURE: CloudMD Software & Services is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover CloudMD Software & Services on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
