TORONTO, March 21, 2019 (GLOBE NEWSWIRE) — VitalHub Corp. (the “Company” or “VitalHub”) (TSXV: VHI) is pleased to announce that with its recent acquisition of the Oak Group Inc. (“Oak Group”), it will be introducing Patient Care Management and Flow Reviews in Canada, with plans for future international expansion, building on the work that the Oak Group has delivered in Europe, Australia, and the US.
VitalHub will be rolling out the Patient Care Management and Flow Review program (the “Reviews”) leveraging its MCAP (Making Care Appropriate for Patients) solution. MCAP is designed to facilitate improvement of care quality and reduction in delivery costs by identifying patients in the acute and community hospital settings whose care could be delivered in an alternative setting. The Reviews are also applicable to mental health and substance abuse patients.
MCAP is a decision support solution that is based on an objective analysis of individual patient care service requirements against evidence based criteria sets to optimize the provisioning of care and delivery of services. MCAP identifies patients that are clinically suitable for discharge or non-admission. Typical Review results have identified that approximately 25% of admissions and 50% of continuing care days could be avoided or provided at alternative care options; resulting in significant cost savings opportunities and improved patient outcomes.
There are more than 70,000 hospital beds in Canada spread across ~1,500 hospitals. Many of these beds are being occupied by patients who no longer require the specialized and costly care of a hospital setting. By removing inefficiencies from a resource-constrained system, the MCAP patient flow solution has the potential to yield considerable cost-savings, while reducing the wait times that currently impede patients from receiving the care they need, when they need it. Uniquely, the MCAP solution is able to deal efficiently with patients with complex and co-occurring conditions, including those with both medical-surgical and mental health issues.
MCAP will be presented as a salve for supporting health ministries in Canada that are under considerable pressure to deliver timely and high quality care with significant cost constraints. When looking at the issue of hallway healthcare in Ontario, it is clear that MCAP addresses the root cause of the problem;
“Hallway health care is a significant problem in Ontario. The entire health care system is too complicated to navigate, people are waiting too long to receive care and too often are receiving care in the wrong place; as a result, our hospitals are crowded. The Premier’s Council on Improving Healthcare and Ending Hallway Medicine has been tasked with providing advice to government on how to solve this problem and improve health outcomes across the province […] including the potential to integrate health care and introduce technology solutions to build strong and efficient community and hospital services, support better outcomes for patients, and to fix the problem of hallway health care.” (Premier’s Council on Improving Healthcare and Ending Hallway Medicine, Ontario Ministry of Health and Long-Term Care)
VitalHub plans to introduce its patient flow solution by continuing to work with international professional services firms such as McKinsey, PwC, E&Y, Deloitte, and KPMG, providing them with support in using MCAP to collect quantitative diagnostic information to support the services they provide to their clients.
“Care Management is a timely topic, especially given the high emphasis surrounding appropriateness and efficiency of care delivery in the Ontario market,” said Dan Matlow, CEO of VitalHub. “We believe our proven care management and patient flow diagnostic program will be well-received as hospitals move toward integrating software solutions designed to improve patient flow, and eliminate unnecessary costs from an already resource-burdened system. We are very excited about the growth opportunity and see significant potential to further expand international distribution of this product.”
VitalHub develops and supports mission-critical healthcare information systems in the Mental Health (Child, Youth and Adult), Long Term Care, Community Health Service, Home Health and Hospital sectors. VitalHub technologies include Blockchain, Mobile, and Web-Based Assessment and EHR solutions.
VitalHub’s aim is to create high-value, secured solutions enabling interoperability among existing health data systems. VitalHub is primarily focused on working with organizations in the Mental Health, Acute and Long-Term Care space, to further extend organization’s applications across the continuum of care, powered by the security, efficiency, and trust of Blockchain technology.
The Company has a robust two-pronged growth strategy, targeting organic growth opportunities within its product suite, and pursuing an aggressive M&A plan. Currently, VitalHub serves 200+ clients across North America. VitalHub is based in Toronto, Canada, with an offshore development hub in Sri Lanka. The Company is publicly traded on the TSX Venture Exchange under the symbol “VHI”.
This press release includes forward-looking statements regarding the Corporation and its business, which may include, but is not limited to, statements with respect to the appointment of a new directors. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “is expected”, “expects”, “scheduled”, “intends”, “contemplates”, “anticipates”, “believes”, “proposes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such statements are based on the current expectations of the management of each entity, and are based on assumptions and subject to risks and uncertainties. Although the management of each entity believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release, including the share consolidation proposal, may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including risks regarding the technology industry, failure to obtain regulatory or shareholder approvals, market conditions, economic factors, the equity markets generally and risks associated with growth and competition. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Corporation undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Chief Executive Officer, Director