CARESPAN HEALTH SIGNS AGREEMENT WITH COACHCARE TO DELIVER REMOTE PATIENT MONITORING SERVICES
VANCOUVER, BC, Jan. 9, 2023 /CNW/ – CareSpan Health, Inc. (TSXV: CSPN) (“CareSpan” or the “Company“) announced today that it has entered into an agreement to partner with CoachCare to provide medically-assisted remote patient monitoring (“RPM“) to CoachCare patients.
CoachCare is a New-York based company providing RPM and virtual health services, including weight management. With this partnership, CoachCare will identify individuals enrolled in certain weight management programs who can benefit from increased medical supervision and can be referred to primary care providers in CareSpan’s networks (American-Advanced Practice Network and American MedPsych). Providers in CareSpan’s networks who prescribe RPM for existing patients will also now have access to CoachCare’s RPM platform and services. The RPM services and products CoachCare supplies is intended to provide health insights which can be collected from a device worn by the patient, and with the assistance of an app, helps their care providers understand the real-time facts about their health.
“We are delighted to partner with CoachCare. CareSpan is committed to leveraging digital technology for delivering patient care. The combination of CoachCare’s RPM capability and CareSpan’s integrated digital care platform and professional network leverages AI and analytics for patients deemed medically-appropriate to enroll. We anticipate that the RPM data will give our clinical teams a tool to monitor risk-prone patients through their care journey and intervene when necessary in between appointments and clinic visits,” said Rembert de Villa, CareSpan Health CEO.
According to Wes Haydon, president and co-founder of CoachCare, “We anticipate CoachCare’s suite of RPM services will complement CareSpan’s digital care platform and provider networks. Our solid track record, particularly in weight management, makes the partnership with CareSpan compelling. Based on our industry experience, high-touch and high-tech remote monitoring lowers healthcare costs, gives patients a chance to make healthy behavioral changes and provides clinicians a visible and real-time way to foster accountability for improved health. These steps help address some of the challenges of primary care that we have identified.”
The combined goal of the partnership is to deliver RPM to over 2,000 patients this year. Typical reimbursement from Medicare and private insurance for RPM is over $120 per patient per month.
CareSpan is a healthcare technology and services company that has developed and deployed a unique, proprietary integrated digital care platform, the CareSpan Clinic-in-the-Cloud™, that creates easy access to care for the underserved. With a patient-centric approach focused on improving health outcomes, CareSpan uses sophisticated digital tools and capabilities to improve patient outcomes in primary care, chronic care, urgent care, and mental health. In addition to the integrated digital care platform, CareSpan has built and deployed a business support infrastructure for its professional networks, American-Advanced Practice Network and AmericanMedPsych Network. American-Advanced Practice Network harnesses the clinical capabilities of Nurse Practitioners to address the shortage in primary and chronic care in the country. American-MedPsych brings together providers to tackle shortages mainly in mental health.
Clinic-in-the-Cloud is a trademark of CareSpan USA Inc., a subsidiary of CareSpan Health, Inc.
CoachCare, a New-York based remote patient monitoring and virtual health company, moves healthcare providers beyond technology to provide a complete RPM support service, including billing and staff monitoring, automating patient alerts and simplifying health-claims documentation. This platform maximizes reimbursement, improves outcomes and increases provider revenue. More than 150,000 patients in 3,000 locations benefit from CoachCare’s solution.
This press release contains certain forward-looking information and statements (“forward-looking information”) within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words “believes”, “anticipates”, “plans”, “intends”, “will”, “should”, “expects”, “continue”, “estimate”, “forecasts” and other similar expressions. Readers are cautioned to not place undue reliance on forward-looking information. These statements include but are not limited to, the Company’s use and utilization of CoachCare’s products or services, the patient benefits of using the CoachCare’s products and services, and the estimated number of patients to be serviced. Actual results and developments may differ materially from those contemplated by these statements. The Company undertakes no obligation to comment analyses, expectations or statements made by third-parties in respect of the Company, its securities, or financial or operating results (as applicable). Although the Company believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company’s control. The forward-looking information contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.