PHGRF-Premier Health Group Inc.
Is Telemedicine the Future of Primary Care?
Managing health and wellbeing is a full-time responsibility. With yearly physicals, vaccinations, and those few days out of the year where you don’t feel 100%, a reliable source of primary care is vital to both physical and mental health.
Finding primary care can be challenging, especially in countries like Canada, where shortages in available primary care physicians and nurses make it more difficult to find available appointments. The doctors that end up having availability get blitzed with a barrage of patients and burnout.
More likely than not, healthcare companies won’t be able to solve every issue facing their industry, but that doesn’t mean companies aren’t finding innovative ways to help their patients access primary care.
Premier Health (OTC: PHGRF) (CSE: PHGI) Is Targeting an Opportunity with a Massive Demand In The Healthcare Market
Enter HealthVue, a subsidy of Premier Health Group Inc. (OTC: PHGRF) (CSE: PHGI), which is a company focused on redesigning how medical care is received. Premier’s objective is to develop new technologies that deliver the best quality healthcare possible, through the seamless combination of their network of primary care clinics with telemedicine and artificial intelligence. With an elite team of industry leaders, knowledgeable physicians, and specialists at the top of their fields, HealthVue is on the precipice of becoming the authority on accessible primary care.
The HealthVue team, backed by Premier Health (OTC: PHGRF) (CSE: PHGI), empathizes with the needs of residents of Canada who are struggling to access affordable, qualitative primary care and are invested in designing state-of-the-art medical technology to offer unparalleled assistance. Unlike other healthcare companies, HealthVue is pushing the limit of how we utilize tech to improve our physical health.
Telemedical Could Be the Key To Healthy Margins For (OTC: PHGRF) (CSE: PHGI) & Here’s Why
Telemedicine is rapidly becoming an integral component of the future of healthcare. The market for telemedicine is growing quickly and is expected to continue, as the pressure to upgrade the efficiency and quality of care, while being cost-effective, increases.
This area of healthcare is on fire right now, and the heat is only intensifying. According to Reuters, the deployment of telemedicine has significantly altered the healthcare paradigm, due to the many technological advancements in the field of medical devices and services. With the geriatric population increasing every day, paired with “rising prevalence of chronic diseases, the dearth of healthcare professionals worldwide,” these are just some factors expected to catalyze the growth of the telemedicine market.
Telemedicine technology is considered, by industry experts and investors alike, as the most adaptable technology currently being utilized to deliver “health education, health information, and health care at a distance,” according to Market Watch. Companies like Premier Health (OTC: PHGRF) (CSE: PHGI) are well aware of this exciting trend and are prepared to meet market demands with sophisticated technologies to increase remote access to primary care and reduce hospitalization rates for patients.
The existence of this technology, coupled with investors who understand the profitable future of the industry, will ensure steady market growth and create huge opportunities for hate players in the market.
HealthVue Utilizes High-Tech Solutions To Improve Health
Premier Health (OTC: PHGRF) (CSE: PHGI) and HealthVue have worked tirelessly to integrate telemedicine technology into the experience for their community of over 100,000 active patients. If someone is unable to physically make it to a primary care physician, HealthVue is there to provide support. Easily accessed by their website or smart-phone application, HealthVue is focused on using telemedicine technology to facilitate the delivery of primary care.
Because of Premier Health’s (OTC: PHGRF) (CSE: PHGI) belief in investing in the highest quality healthcare technology, HealthVue patients can choose to see doctors from anywhere in the world, whether at home or on vacation. Patients simply connect with an available physician through HealthVue’s telemedicine app, and within seconds, they receive treatment.
During these telemedicine calls, providers can diagnose a patient, guide them in how to feel better, and even prescribe medication. Similar to an in-person visit, the physician gathers your medical history to ensure their recommendations for treatment are unique to every patient’s health background. Competitors like the “Dr. On Demand” application offer similar services for their patients, but no company can match the unrivaled user experience that HealthVue creates for it’s 100,000 plus member network.
Premier Health (OTC: PHGRF) (CSE: PHGI) Invests In Wellbeing
On October 11, 2018, Premier Health Group Inc., (OTC: PHGRF) (CSE: PHGI) announced their selection of Reliq Health Technologies Inc. (“Reliq”) (RHT) as its exclusive technology partner. Reliq is “a healthcare technology company that specializes in developing innovative software as a service solution for the $30 billion community carer market.” Reliq’s mission, like their new partner Premier Health (OTC: PHGRF) (CSE: PHGI), is to create technological solutions to “allow patients to receive high-quality care in the home or other community-based settings, improving health outcomes, enhancing the quality of life for patients and families and reducing the cost of care delivery.”
“We are very excited to be selected by Premier Health Group as the exclusive technology partner for their HealthVue Clinics. We look forward to helping HealthVue establish themselves as a technology leader in primary care.”
- Lisa Crossley CEO, Relig Health Technologies Inc.
Pursuant to this selection, Premier Health will look to Reliq to further HealthVue’s telemedicine system by incorporating their technology platform to power the HealthVue patient app. The HealthVue app, powered by Reliq, “will allow patients to book appointments, see their GP or specials, review their own chart, chat with clinic staff and pharmacists, refill prescriptions and share health data collected in the home with their HealthVue care team,” said Dr. Essam Hamza, MD, CEO of HealthVue.
Premier Health is taking a strategic approach to the market, and ensuring that it can meet the demands of consumers, by collaborating with Reliq. Premier Health recognizes new market demands and is prepared to meet them by developing the technology component of their practice, in partnership with Reliq. Reliq’s mobile platform, designed to adapt to meet the expectations of patients, offers a more mature solution compared to others and has a first mover advantage with reset to targeting LTC and home care providers. Reliq, in collaboration with Premier Health (OTC: PHGRF) (CSE: PHGI), will have greater access to the patient population for its enterprise customers.
In their most recent corporate update, Premier Health (OTC: PHGRF) (CSE: PHGI) announced that they completed a CAD $3.55 million financing in August, with $1 million spent on the acquisition of HealthVue. The Company reportedly has “no debt and is well capitalized to strategically acquire additional clinics” as well as build out new locations. Premier Health, through HealthVue and its innovative care resources, invests in the wellbeing of its patients.
Historically, quality applications in the telemedicine space are generally very expensive, which can put pressure on margins in the long term as a company scales. Premier Health’s recent financing will allow for the rollout of this new technology to scale easily and increase stock value for shareholders.
“The technology component of our practice is easily scalable, low cost and high margin, allowing us to rapidly grow our business and create significant shareholder value”
- Essam Hamza, MD CEO HealthVue
HealthVue expects to make their new application available to their patients in Q4-18.
Some Closing Thoughts on Premier Health (OTC: PHGRF) (CSE: PHGI)
The community care market in Canada continues to be an interesting space to observe and invest in. More companies are recognizing that the name of the game is medical technology innovation. Premier Health (OTC: PHGRF) (CSE: PHGI), and their subsidiary HealthVue are unrelenting in their pursuit of the highest quality care for their vibrant community of over 100,000 active patients.
The Company has their work cut out for them. Recent reports show that nearly 15% of Canadians aged 12 and older do not have a primary care physician. Additionally, almost 66% of senior citizens in Canada are unable to get same-or next-day appointments.
Telemedicine is one of the fastest growing sectors in the healthcare industry, increasing in size every single day. Recent reports forecast the global Telehealth market reaching $19.5 billion by 2025, according to Transparency Market Research. The surge in demand for convenient primary care, coupled with technological advancements in mobile solutions for healthcare will drive the market forward.
Premier Health (OTC: PHGRF) (CSE: PHGI) will undoubtedly use its unparalleled telemedicine technology and incomparable physician network to provide its growing membership base with the best care in the business. If they do so, they will see substantial growth in the future of their business, as well as lead by example for others in the industry.