Did you know that in 2018, 30 million people didn’t have health insurance in the U.S.¹
Why? Where to begin…
The main reason is that traditional healthcare systems are largely broken.
Technology is deflationary by nature, yet healthcare costs continue rising. Inefficiencies, shortages, and inaccessibility are the norm, not the exception.
Seriously, think about your overall healthcare experience over the last 10,15, 20+ years. Would you categorize it as positive, neutral, or negative?
There’s a reason why BlackRock CIO Rick Rieder recently called healthcare the single biggest investment opportunity in the world.
And that’s exactly what CloudMd Software & Services (TSXV: DOC; OTC:DOCRF) is: a MASSIVE opportunity!
Traditional, global healthcare systems are broken and have been for quite some time now. The rising costs for individuals and governments alike are simply unsustainable and healthcare services are siloed and fragmented.
The problem is exacerbated in the U.S. where healthcare costs are 2x higher than in other countries.²
The problem extends across North America: in Canada, 39% of ER visitors said the visit could have been avoided if they had better access to primary care. ³
Access to primary care is often so bad, you probably have a better shot meeting Elon Musk…
I’m kidding. But not really…
It also turns out that there’s a historic shortage of doctors in the U.S. at only 2.6 per 1000 capita (2017) ⁴. This means 25% of Americans don’t have a primary care physician (PCP). In Canada, that number is 15% and includes children 12 and up.
Rising costs, inefficient use of resources, shortage of PCPs, and inaccessibility are not problems that we should be having in 2021.
That’s where CloudMD’s comprehensive, team-based approach comes in to reduce costs, deliver integrated care, meet patients anywhere, and improve access to care.
It’s 2021. You can tap your smartphone a few times and a black SUV will appear at your location to take you anywhere you want, but it’s a nightmare to make a doctor’s appointment, request results, or even find the right help!
CloudMD for patients: your doctor in your pocket (or tablet, or computer).
CloudMD for providers: streamlines processes and functions with cloud-based medical records and billing software, plus an online patient portal.
CloudMD for Payors/Employers: The Company’s fastest growing division, providing a connected system of health solutions that recognize the unique physical and mental health needs of each person. Delivers customized care programs with Nurse Navigators who support and guide patients through their journey, resulting in better access to care and improved healthcare outcomes.
They tie all of this together with their comprehensive integrated health services platform (which we’ll get to later).
With CloudMD’s “Clinic-in-a-box” solutions, the days of spending 45 minutes in the waiting room just to have the doctor tell you you’re getting, or refilling a simple prescription are OVER!
CloudMD is a one-stop shop for both patients and providers. Their software-as-a-service (SaaS) based proprietary tech solutions power medical clinics across North America and allow patients access to all points of care right from their phone, desktop or tablet.
Electronic Medical Records: cloud-based solution in use by approximately 8.5M patients, 4k licensed practitioners, 1.5k staff, and 600 clinics.
Patient Billing Software: processes +$40M in payments to over 3k providers monthly.
Patient Workflow Solution: cloud-based suite including billing, eFax, messaging, prescription printing, and computerized physician order entry (CPOE).
Digital Assessments: worker’s comp, disability, mental & physical health.
Stand Alone Telemedicine Portal: a full-service solution that’s ideal for remote and underserviced areas; includes instant messaging and online booking.
Also included in CloudMD’s digital line are award-winning education resources, an eCommerce platform, an 24/7 online scheduling solution, and kiosk & on-demand partnerships.
CloudMD has created a proprietary, revolutionary employer health solution to better manage the health and wellness of their employees and family members. With PROVEN outcomes.
Everything we’ve reviewed thus far is great, but CloudMD’s integrated healthcare platform is what ties everything together and really drives the LONG TERM VALUE.
They’ve leveraged their proprietary medical technology to create an entire health ecosystem that both engages patients and clients, empowers doctors and mental health providers and adds value to payors.
Most importantly, CloudMD’s revolutionary platform connects patients with providers.
As we’ve discussed CloudMD is targeting the Employer market – why? Because corporations and organizations are taking on more of the healthcare burden, with a projected near-term increase of 130% in employer healthcare spend by 2025. CloudMD’s whole-person solution includes virtual, primary, and mental health support, as well as access to specialist and educational resources, and fixes the Employer’s challenge of using multiple vendors that are siloed and don’t work together. Employers are demanding better ROI on their health and wellness plans and want to see improved outcomes, because CloudMD owns all its proprietary technology, and has integrated on a interoperability and data sharing technology backbone, it can provide important data, analytics and outcomes in REAL-TIME to its clients.
We know that a significant amount of employer health solutions are already in market, but none have connected all these health services from one, comprehensive platform. CloudMD’s key differentiator is that it uses Nurse Navigators, or personalized health coaches to guide and support individuals through their care journeys and provide valuable resources and education, resulting in better access to care and improved outcomes. Patients can access the integrated platform and connect to a nurse navigator, who creates a customized care plan and pairs individuals to the right professionals and the right care.
The early results of this comprehensive platform are incredible. CloudMD has already onboarded over a quarter of a million individuals in a short amount of time, and more importantly can provide employers valuable data and outcomes to better manage their health and wellness spend.
Leveraging technology and an array of services that provides a connect care journey and improves health outcomes. As a leader in providing better care, CloudMD’s services have seen the following success outcomes:
With the right solutions in place (read: CloudMD), a comprehensive, whole-person approach is transforming traditional healthcare delivery.
CloudMD is strongly positioned to meet the digital paradigm shift in the $3.5T healthcare industry by taking its virtual, comprehensive solution to SCALE.
They’ve got a strategic, multi-pronged expansion plan in place for North America, and they’re fully funded with big M&A deals in the pipeline. They have aggressive expansion plan into the United States and just brought on a Rockstar SVP, Sales that came from a massive competitor to execute on the sales strategy across North America.
Their patient-centric approach unlocks value for all players in the healthcare system, which means the business generates revenue from multiple sources: B2B, B2C, and enterprise.
CloudMD is equipped and ready to provide universal access to digital health, facilitate patient-controlled data sharing, and mitigate the trade-off between security and privacy.
CloudMD is very young but already has an annualized revenue run rate of ~$140M coming from multiple sources, with $50M in cash to deploy on strategic growth initiatives and M&A. They’ve shown MAJOR growth over the last 2 years and aren’t showing signs of stopping.
I expect these growth numbers in revenue and EBITDA to continue as their expansion plan takes shape and their solutions reach more of the market.
With all of these things considered, when compared to industry peers, CloudMD is at a significant discount.
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