Telehealth has seemingly changed the healthcare landscape, providing individuals with access to health services wherever they are without the need to travel.
Telehealth, sometimes referred to as telemedicine, is the integration of telecommunication systems into the practice of protecting health, done primarily online with internet access via a computer, tablet or smartphone.
The COVID-19 pandemic saw explosive growth of telehealth — skyrocketing to a historic peak in April 2020, as both consumers and healthcare providers sought ways to safely access and deliver healthcare. Its use began trending down towards the end of 2020, ticking back up in October 2020 and stabilizing in 2021 to 38X higher than pre-COVID-19 usage, according to McKinsey & Company.
Telehealth Is Here To Stay
Supportive regulations seem to have accelerated telehealth use. By all counts, telehealth seems to be here to stay — the telehealth market is projected to grow from $90.74 billion in 2021 to $636.38 billion in 2028 at a compound annual growth rate (CAGR) of 32.1% in the forecast period, 2021 to 2028.
Cloud DX (TSXV: CDX) (OTC: CDXFF), a Canada-based digital health platform and RPM solution provider, announced on Aug. 26, 2022, its new strategic partnership with telemed company Teladoc Health Inc. (NYSE: TDOC) to enhance remote monitoring solutions for patients across Canada.
The partnership will see Teladoc Health offerings available on Cloud DX’s Clinician Portal and patient facing app, Connected Health™, via integration on the Cloud DX platform. The platform lets partners, like Teladoc, leverage Cloud DX’s infrastructure, including Electronic Medical Record (EMR) integration, support services, and patient apps — some of the biggest hurdles to overcome in health tech adoption. Approved partners connect their software or hardware tools via an API, enabling patients to use their offerings and securely transmit data to their care team in the Clinician Portal. Offerings such as Teladoc’s Livongo diabetes devices, Solo™ virtual care solution, vital devices like pulse oximeters, or curated health content - all easily available in the Connected Health™ app.
Delivering Teladoc offerings via the Cloud DX platform means any Cloud DX client can easily add on Teladoc offerings. The two-way partnership also lets Canadian Teladoc clients opt to have services delivered through Cloud DX’s Connected Health™ solution.
The data gathered through its Connected Health platform supports providers managing acute and chronic diseases, including people with COPD, heart failure or post-surgical needs — enabling better healthcare and patient outcomes and reducing hospitalizations or re-admissions. Teladoc reportedly has global expertise in chronic care management in the community and offers its Solo™ virtual care software platform for use in more than 4,000 hospitals and health systems worldwide, including in Canada.
According to Cloud DX, its partnership with Teladoc enables the use of Solo™ on its patient app experience in Canada. This expands Cloud DX’s virtual care partner offerings to include Solo™ and Microsoft Teams, in addition to Zoom. Cloud DX patients or users now have more options to easily and seamlessly connect with members of their clinical team and Cloud DX clients can choose to use Solo™ as its virtual care option, or other available Cloud DX partner solutions.
Commenting on the partnership, Robert Kaul, CEO and founder of Cloud DX, said: "We are very pleased to welcome Teladoc Health as a fully integrated partner on the Cloud DX platform in Canada. From its leading virtual care solution, Solo™, to its chronic care management and mental health programs, offering Teladoc Health services as part of the Connected Health™ ecosystem creates a compelling and robust remote patient monitoring solution. Together, Teladoc Health and Cloud DX offer a complete, best-in-class tool kit for healthcare providers to address acute and complex cases. As partners, we look forward to creating better healthcare journeys for more Canadians."
Cloud DX is also an exclusive partner to Medtronic Canada and Equitable Life of Canada.
To learn more about Cloud Dx and its products visit www.clouddx.com.
Cloud DX Inc. is a leading competitor in the highly regulated digital healthcare industry. We provide remote patient monitoring hardware, software and recurring revenue services in a frictionless, reimbursable transaction model, coupled with a sales strategy that's driving rapid adoption among global healthcare providers.Our Cloud DX Connected Health products were invented and developed in Toronto Canada and Team Cloud DX is Canada’s entry in the Qualcomm Tricorder XPRIZE. Our US headquarters is in Brooklyn NY.
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Jay Bedard, IR Manager