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Digital Transformation of Healthcare: CEO ’s of ONEM, HCAT, DOCRF, IRTC, Discuss Telemedicine, Big Data, and Diagnostics

2020-08-24 10:38 ET - News Release

NEW YORK, Aug. 24, 2020 (GLOBE NEWSWIRE) -- Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from CEO’s of Health Catalyst, Inc. (NASDAQ:HCAT), CloudMD (OTC: DOCRF), 1Life Healthcare, Inc. (NASDAQ:ONEM), and iRhythm Technologies, Inc. (NASDAQ:IRTC)

Health Catalyst, Inc. (NASDAQ: HCAT) Dan Burton, CEO “Healthcare Analytics in the New Normal”
Earnings Call Highlights: https://bit.ly/3aSo0z6

CloudMD (OTC: DOCRF): "The Future of Telemedicine”
Video: https://bit.ly/2Ycgv0J

1Life Healthcare, Inc. (NASDAQ:ONEM), Amir Dan Rubin, CEO: “Transforming Healthcare for Consumers and Employers”
Earnings Call Highlight: https://bit.ly/3hvOOba

iRhythm Technologies, Inc. (NASDAQ: IRTC) CEO, Kevin King: “Driving the Standard of Care in Cardiac Arrhythmia Diagnostics & Management”
Earnings Call Highlights:https://bit.ly/2CXGdik

Highlights of CEO comments from latest earnings calls and investor conferences:

1Life Healthcare, Inc. (NASDAQ:ONEM), Amir Dan Rubin, CEO: “Transforming Healthcare for Consumers and Employers”
“...Through our digitally and clinically interconnected system of healthcare, we have expanded our membership base by 25% year-over-year and grown new and existing employer and consumer relationships. We have extended our service offerings with billable scheduled remote visit, mindset behavioral health, COVID-19 screening and testing, and our One Medical Now national digital health employer solution. We have addressed ongoing physical wellness and mental health needs, and continued extending care to pediatrics and family members. All the while we have delivered value-based results and saving to employers…We ended the quarter with 475,000 members, growing 25% year-over-year and adding 20,000 members in Q2. Continuing our strong momentum from Q1, we have added more than 50,000 members in our first half this year. These figures represent the strongest Q2 and first half membership adds in our history. We delivered net revenue of $78 million for this quarter, up 18% year-over-year….We are transforming healthcare for multiple key stakeholders; consumers, employers, providers, and health network.”

“...We have also extended our 24/7 on-demand virtual service and launched it as a new offering in geographies where we don't yet have a physical footprint. This new offering, which we call One Medical Now has seen strong interest from national employers who look to us to provide the One Medical service experience to more of their employees while reducing their total healthcare costs through our bundled digital health and salaried provider model... “

1Life Healthcare, Inc. (NASDAQ:ONEM) Earnings Call Highlights Available at: https://bit.ly/3hvOOba

CloudMD (OTC: DOCRF): "The Future of Telemedicine"
CloudMD (OTC: DOCRF) (TSX.V:DOC) CEO Dr. Essam Hamza, M.D. was recently interviewed by Wall Street Reporter and shared how CloudMD is addressing a multi-billion dollar market opportunity by digitizing the delivery of healthcare - providing patients access to all points of their care from their phone, tablet or desktop computer.

Click here to watch DOCRF video interview: https://bit.ly/2Ycgv0J

August 26: CloudMD is presenting at Wall Street Reporter’s NEXT SUPER STOCK livestream investor conference 8/26. Click here to join:https://bit.ly/2PX0SpH

CloudMD offers SaaS based health technology solutions to medical clinics and healthcare providers across North America and has developed proprietary technology that delivers quality healthcare through the combination of connected primary care clinics, telemedicine, and artificial intelligence (AI). CloudMD currently provides service to a combined ecosystem of 376 clinics, over 3000 licensed practitioners and almost 3 million patient charts across its servers.

Latest DOCRF News:
August 24 - DOCRF is acquiring Re:Function Health Group Inc., a profitable seven location rehabilitation clinic network with C$5.8 million annual revenue. This acquisition represents a significant addition to the depth and spectrum of healthcare services provided by the CloudMD platform. With Re:Function, CloudMD’s network will include 14 clinics servicing approximately 500,000 patients. The acquisition is mutually important in the shared vision to disrupt the current healthcare delivery system and to provide continuity of care across multiple verticals to ensure exceptional patient care. CloudMD will integrate its telemedicine solutions throughout the clinics, layering on additional allied health and specialist functions to the platform. CloudMD’s registered users will now have access to primary care Doctors, specialists, and a network of mental, occupational and physical health specialists. The Re:Function team also gives CloudMD’s network of primary care physicians options to give patients referrals to extended care.

August 13 - DOCRF is acquiring majority interest in West Mississauga Medical Clinic, a comprehensive family medicine and specialist medical clinic serving over 100,000 patients, securing footprint in Ontario with cash flow positive clinic, with revenue of C$1.8 million in 2019.

August 6 - DOCRF continues US expansion with an acquisition of a chronic care medical clinic in Mississippi, as a part of its broader strategy for entering the U.S. market with its comprehensive suite of telehealth products. This clinic will power a network of telehealth powered satellite clinics covering large areas of underserviced areas across the U.S.

CloudMD (OTC: DOCRF) is presenting at Wall Street Reporter’s NEXT SUPER STOCK livestream investor conference on August 26. Click here to join:https://bit.ly/2PX0SpH

Health Catalyst, Inc. (NASDAQ: HCAT) Dan Burton, CEO “Healthcare Analytics in the New Normal”.
“..We cannot think of any event in recent history that has galvanized the awareness and importance of data and analytics more than COVID-19; and thus we believe it will serve as a meaningful tailwind in the industry's adoption of data and analytics. At the health system level, we are seeing COVID-19 highlighting the need for a commercial grade data and analytics solution to replace patchwork homegrown systems. I would also share that we are seeing the potential for meaningful government investment in healthcare data and analytics infrastructure modernization over time. Lastly, I'd share that we anticipate a meaningful long-term impact on our life sciences business as we leverage one of the largest clinically rich repositories of health data in the world for real world insights... “

“...We are thrilled to welcome the talented and diverse Healthfinch to Health Catalyst, further enabling our mission to be the catalyst for massive, measurable data informed healthcare improvement... Some comments on our announcement today of our definitive agreement to acquire Vitalware: Vitalware offers a revenue workflow optimization, an analytics SaaS technology solution to healthcare providers.Vitalware provides us with another analytics application offering us a strategic anchor technology in the revenue space, expanding our CFO value proposition. Vitalware's flagship offering is a best-in-class Chargemaster Solution that solves a complex regulatory and billing function needed by all health systems. Additionally, Vitalware brings to bear a meaningful upsell opportunity with new product suites in revenue integrity and price transparency...Vitalware's compelling financial profile, includes greater than 90% recurring technology revenue with approximately $19 million in 2020 estimated standalone full-year recurring revenue and a 20-plus percent annual historical growth rate. Vitalware has approximately 75% gross margins and is adjusted EBITDA breakeven... “

Health Catalyst (NASDAQ:HCAT) Earnings Call Highlights Available at: https://bit.ly/3aSo0z6

iRhythm Technologies, Inc. (NASDAQ:IRTC) CEO, Kevin King: “Driving the Standard of Care in Cardiac Arrhythmia Diagnostics & Management”
“...While COVID-19 suppressed the overall market in the second quarter, we believe iRhythm increased its share of the market as measured by our success in 3 areas. First, compared to legacy Holter monitoring services, our clinically superior digital platform was proven to be well suited to deliver services in a virtual environment. Our single-use ZIO devices are patient-friendly and eliminate the need for cleaning of equipment between uses. Second, our home enrollment service enabled by our digital platform was instrumental in maintaining the registration levels we experienced in the quarter. We expect it will remain an important component of many of our accounts workflows going forward. As we shared in early May, home enrollment represented over 50% of registrations for the month of April. As hospitals and physicians began resuming in-office patient visits, this percentage leveled out to just below 30% as we exited the quarter. We expect to remain at these levels for the foreseeable future, and believe this will be a key factor in ensuring continuity of patient care in the event of a continued ramp in COVID cases that leads to reduced in-office patient care…”

“Lastly, ZIO AT demonstrated continued strong traction and meaningful growth over the first quarter of 2021 - over 2020. Our single platform solution continues to resonate with our customers as they put high value in streamlining workflows across their cardiac monitoring needs. The experience that our customers have with ZIO XT and the high confidence of familiarity they have with our service and platform has benefited ZIO AT adoption...Less than a year into the full market launch of ZIO AT, we're very pleased with the adoption to date. We are increasingly confident that we can continue to expand into the MCT market and take meaningful share.”

“...While we're cautious on the outlook for the remainder of 2020 and would be hesitant to predict a fast recovery, we believe the future of iRhythm has never been brighter. There is a considerable potential for structural changes to how health care is delivered. And that will play to the strengths of our digital platform. We're focused on positioning iRhythm to continue to drive the standard of care in how cardiac arrhythmias are diagnosed and managed and delivering our ZIO Service to the millions.”

iRhythm Technologies, Inc. (NASDAQ:IRTC) Earnings Call Highlights Available at:https://bit.ly/2CXGdik

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