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Well Health Technologies Corp
Symbol WELL
Shares Issued 235,826,528
Close 2023-08-10 C$ 4.60
Market Cap C$ 1,084,802,029
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Well Health wins $38.5-million Ocean contract with PHSA

2023-08-10 10:32 ET - News Release

Mr. Hamed Shahbazi reports

WELL'S OCEANMD TO ROLL OUT EREFERRAL & EORDERS PLATFORM TO HELP PROVIDERS AND PATIENTS IN BRITISH COLUMBIA DIGITIZE & MODERNIZE CLINICAL WORKFLOWS

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 and orders (DRO) program.

OceanMD's groundbreaking platform is set to launch an array of digital services, such as e-referrals, e-consults and e-orders, within British Columbia through a provincial platform. This marks the third province in which OceanMD has been selected to enable these digital health care features. The collaboration, cemented under a $38.5-million, sole-source contract, promises to be a revolutionary tool for health care 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 health care 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, chief executive officer of OceanMD. "I am immensely proud of the work we have accomplished and the positive impact we are making in tech-enabled health care. 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 health care 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 B.C., and the Nurses and Nurse Practitioners of B.C. (NNPBC) Association. These consultations addressed pain points and future needs and were also part of the provincial RFP (request for proposal) 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 health care systems and thousands of health care providers, establishes OceanMD as Canada's largest community of digital health care solutions. Providers can easily manage digital referrals and orders, search for services, and fill prepopulated 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 health care administration.

OceanMD's record, with over 80,000 e-referrals and e-consults sent each month across hundreds of health care pathways and specialties, demonstrates its success in deploying provincial solutions for e-referrals, e-consults and e-orders. 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-per-cent reduction in medically unnecessary MRIs (magnetic resonance imaging), underlining a direct cost-saving impact for provincial health systems.

About Well Health Technologies Corp.

Well's mission is to tech-enable health care providers. The company does this by developing the best technologies, services and support available, which ensures health care providers are empowered to positively impact patient outcomes. Well's comprehensive health care and digital platform includes extensive front-office and back-office management software applications that help physicians run and secure their practices. Well's solutions enable more than 31,000 health care providers between the United States and Canada and power the largest owned and operated health care 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 (over-the-counter) exchange under the symbol WHTCF.

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