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 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.
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As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.