Two healthcare companies are leveraging artificial intelligence and data science improve patient care.
WELL Health Technologies Corp. (TSX: WELL) (OTCQX: WHTCF) explained in a Thursday press release that OceanMD’s platform now handles over 120,000 eReferrals and eConsults each month and needed to find a way to streamline it.
The company has also secured contracts with Ontario, British Columbia, and Nova Scotia for the provincial deployment of electronic referrals (eReferral), orders (eOrders), and consultations (eConsult) requests.
Healthcare tech companies OceanMD and Intrahealth Solutions are subsidiaries of WELL Health and Healwell AI Inc (TSX: AIDX) (OTCQX: HWAIF) respectively. The proposed partnership would integrate OceanMD’s eReferral system into Intrahealth’s network, eliminating the inefficiencies of paper-based and manual processes. This would reduce administrative burdens and minimize errors.
This enhances communication and coordination among healthcare professionals, ultimately improving patient care and access to health services. The platform addresses the need for efficient, standards-based interoperability in the healthcare sector. This ensures that patients receive timely and accurate care while providers operate more efficiently.
Intrahealth’s integration with OceanMD will also empower healthcare providers to send, receive, and manage eReferrals directly from their Electronic Medical Records (EMR), simplifying workflows and improving patient care.
“This collaboration underscores our shared commitment to enhancing the efficiency and accessibility of healthcare services through standards-based interoperability,” said Jeff Kavanagh, CEO of OceanMD. “Together, we are setting a new standard for healthcare efficiency and patient engagement, while helping to ensure patients receive timely and coordinated care.”
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Market for digital healthcare solutions rapidly growing
The market for digital health solutions, including platforms like OceanMD’s, is substantial and growing rapidly.
Marketing firm, Beyond Insights, placed the value of the digital market at around USD$175 billion in 2022. Additionally, it’s projected to reach over USD$660 billion by 2027. Furthermore, this tech market encompasses telemedicine, health information systems, eReferrals, and other EHR technologies.
Three factors are driving growth.
The first is the increasing adoption of digital tools in healthcare. The second involves the push for more efficient and integrated systems. The third is the increase in demand for improved patient outcomes and access to care.
“Our partnership with OceanMD is a testament to our commitment to excellence in healthcare,” said Dorian Prior, president of Intrahealth.
“By combining our expertise with OceanMD’s innovative eReferral system, we are poised to transform the healthcare landscape, making it both more connected and patient-centric.”
The eReferral and eConsultation segment is growing in importance as healthcare providers recognize the need for streamlined coordination. Healthcare providers and governments in regions like Ontario, British Columbia, and Nova Scotia are adopting these technologies. The market is expanding rapidly as more countries look for ways to address inefficiencies and improve patient care.
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