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WELL Health and its consortium partners have been awarded the largest digital project to date in Health Compass II, an effort to continue advancing AI and interoperability in Canadian health care.
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In addition to serving as the lead commercialization partner and first customer, WELL Health will provide expertise and interoperability to each consortium partner, providing unprecedented opportunities to innovate and develop new AI tools to help healthcare providers improve patient outcomes.
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As part of the award, DIGITAL will contribute just over one-third of all project costs associated with this project over a four-year period, with these funds being funded by the federal government. Canada To support innovation.
Vancouver, British Columbia and Toronto, July 10, 2024 /CNW/ – Well Health Technologies Corporation (TSX: WELL) (OTCQX: WHTCF) (the “Company” or “WELL”), a leading company focused on integrating and modernizing clinical and digital assets in healthcare, today announced it has announced a groundbreaking $44 million The project is $15.3 million The funding from DIGITAL will support R&D and commercialization investments from other partners in the second phase of the Health Compass project (Health Compass II). This significant funding represents DIGITAL’s largest project to date. Canada’s The Global Innovation Cluster for Digital Technologies has awarded grants across all funding categories to date, marking a significant milestone in the work and advancement of AI and interoperability in healthcare.
Health Compass II is a collaboration between WELL Health, ORX, HEALWELL AI (TSX: AIDX, OTCQX: HWAIF), Tali AI and Phelix. Simon Fraser University Driving a meaningful contribution: Health Compass II aims to further revolutionize the healthcare industry by enhancing interoperability and leveraging AI to ease the burden on healthcare providers. Building on the success of the first Health Compass phase, Health Compass II introduces an innovative suite of four AI-driven modules integrated through an EMR-agnostic mobile app that are aimed at engaging patients, automating administrative tasks, assisting healthcare providers with documentation, and enhancing clinical decision-making.
The project components are:
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HEALWELL AI DECISION COMPASS: A clinical decision support module to identify opportunities for earlier diagnosis and improved treatment of rare and complex diseases.
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PORX Atient Compass: An easy-to-use, patient-facing virtual agent module that increases patient engagement by 30% by enabling patients to find a provider, receive treatment, and navigate healthcare.
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Phelix’s SMART Inbox: A back-office automation module that leverages AI algorithms to streamline administrative tasks and reduce manual administrative work for clinics by over 50%.
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Voice Assistant by Tali: An AI assistant that uses ambient sensing technology to obtain medically relevant information from natural conversations, with patient consent, without distracting healthcare professionals from the patient.
By integrating all four Health Compass II partner AI modules into WELL’s Provider Compass, healthcare providers can automate all non-billable patient interactions and patient visit outputs (patient referrals, prescriptions, etc.), log the entire provider-patient visit, and provide clinical recommendations based on the patient’s medical record. Ultimately, automating much of the day-to-day administrative tasks without having to boot up a computer allows clinics and clinicians to focus more on patient care.
Hamed ShahbaziWELL CEO and Founder, David L. Schneider shared his excitement and gratitude for the announcement: “This is a monumental milestone, and we are honored and grateful for DIGITAL and Minister Champagne’s office’s commitment to supporting healthcare innovation and responsible AI research. At WELL, we are committed to leveraging technology to empower healthcare workers by equipping them with responsible AI and other tools to reduce burnout, deliver quality care, and ultimately improve patient outcomes. Projects like Health Compass II directly support this mission and are essential in accelerating the digital transformation of healthcare.”
His Excellency FrancoisPhilippe ChampagneThe Minister for Innovation, Science and Industry said: “Artificial intelligence offers transformative opportunities for healthcare professionals to innovate and improve the patient experience. Canada ” is at the forefront of this critically important area, and our government is proud to support the Digital Technology Cluster, working with industry partners such as WELL Health to reinvent the delivery of health care services to Canadians.”
“From helping health-care workers take notes and record diagnoses, to streamlining paperwork and enhancing the patient care experience, this innovative project is using AI to build a better future for Canadians,” said Tlaib Noor-Mohamed, Parliamentary Secretary to the Minister of Canadian Heritage. “Our government looks forward to the success of the Health Compass II project and other Made in Canada projects.”Canada Innovation that brings social and economic benefits to all.”
“Canada “There is a tremendous opportunity and urgency to leverage our global leadership in AI research to commercialize that research into Canadian AI applications and tools. These tools will help solve some of the world’s greatest challenges while accelerating the growth of Canadian companies. DIGITAL’s continued investment in the Health Compass initiative supports improving the health outcomes of Canadians, while also supporting Canadian innovators,” said DIGITAL. Sue Paish“Since 2018, DIGITAL has worked to foster innovation, support the growth of Canadian businesses and spur private investment in digital solutions that make a positive difference to the lives of Canadians,” said Anne McLellan, CEO of DIGITAL.
Health Compass II is transforming the way healthcare providers work by replacing traditional exam room workstations with physician-preferred smartphone devices, automating many of the routine tasks without the need for a computer. The initiative is expected to reduce clinics’ healthcare delivery costs by 25% and increase patient satisfaction by 20% within two years of implementation.
In addition to being the lead commercialization partner and first customer, WELL Health will continue to build standards-based API interoperability, bringing a competitive advantage to each SME AI module developed. The consortium will leverage WELL’s extensive network, including its provider solutions platform supporting over 3,400 clinics and 34,000+ healthcare providers, including the distribution channel of OceanMD (a subsidiary of WELL Health) and its EMR assets, as well as WELL’s own clinic network. Canada It includes more than 175 clinics and more than 1,600 healthcare providers, including registered physicians and other medical professionals. WELL’s Provider Solutions Platform Canada’s WELL, a leader in products and services for healthcare providers, AI healthcare solutions and information security services, is committed to ensuring that best-in-class privacy, cybersecurity and ethical AI implementations remain at the forefront of the commercialization of Health Compass II.
The Health Compass II project is a testament to WellHealth’s commitment to empowering healthcare workers and improving patient experience. North America“With this significant investment, WELL Health and its partners are poised to set new standards in healthcare, interoperability and EMR innovation, provider workflow, and the adoption of ethical AI in patient care. Health Compass II and other healthcare innovations from WELL and its partners will undoubtedly contribute to improving health outcomes for Canadians and reducing provider burnout.”
About WELL Health Technologies Corp.
WELL’s mission is to empower healthcare professionals with technology. We develop the best technology, services and support to empower healthcare professionals to positively impact patient outcomes. WELL’s comprehensive healthcare and digital platform includes an extensive range of front-office and back-office management software applications that help physicians run and safely manage their clinics. WELL’s solutions support more than 34,000 healthcare professionals across the United States and Canada. Canada Powering the largest owned and operated healthcare ecosystem Canada More than 175 clinics support primary care, specialty care and diagnostic services. united states of america WELL’s solutions are focused on specialty markets, including the gastroenterological market, women’s health, primary care and mental health. WELL is publicly traded on the Toronto Stock Exchange under the symbol “WELL” and on the OTC Exchange under the symbol “WHTCF.” To learn more about WELL, please visit www.well.company.
Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation, including, but not limited to, statements regarding WELL Health’s future plans and objectives, the functionality of Health Compass II, and future funding commitments from DIGITAL. Forward-looking statements are not historical facts and are generally, but not always, identified by words such as “anticipate,” “plan,” “expect,” “believe,” “intend,” “estimate,” “predict,” “potential” or similar expressions, or statements that events or circumstances “will occur,” “will occur,” “may,” “might” or “should” occur. These forward-looking statements reflect WELL Health’s current expectations, but are subject to a number of risks and uncertainties that could cause actual results to differ materially, including the ability of consortium members to develop and commercialize Health Compass II, expected improvements in workflow efficiency, physician adoption, utilization and deployment of Health Compass II across WELL Health’s network. WELL Health assumes no obligation to update any forward-looking statements except in accordance with applicable securities legislation.
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SOURCE WELL Health Technologies Corp.
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