NetworkNewsWire Editorial
Coverage: Although
amazing advances unceasingly occur in drug development and medical
procedures, delivery of health care services to patients has been
woefully slow to embrace technology. It took a federal government
mandate in 2014 to force health care providers to adopt and
demonstrate “meaningful use” of electronic medical records (EMR) in
order to maintain Medicare and Medicaid reimbursement levels. Since
the mandate, the use of EMR’s has expanded worldwide, improving
quality, safety and efficiencies throughout global health
organizations. However, health care still, disturbingly, stands
apart from all other industries in the efficient conveyance of
patient services, which is most acutely felt among the 80+ million
Americans that live in underserved rural areas. These regions
suffer from a chronic shortage of primary care physicians and, even
more critically, specialty care physicians. Urban-based health
companies have little incentive to expand footprints into sparsely
populated communities, and the promises that telemedicine would
fill this critical void have fallen far short of expectations. This
dilemma presents an enormous societal challenge, but, conversely,
it presents an even greater opportunity for health care companies
that provide operative solutions. In this space, Medical
Innovation Holdings, Inc. (MIHI) (MIHI
Profile) is rolling out a disruptive telemedicine
business model that positions it among the ranks of larger peers.
At the same time, MIHI’s approach greatly differentiates it from
its peers, including Teladoc, Inc.
(TDOC), eWellness Healthcare Corp.
(EWLL), Evolent Health Inc. (EVH) and
health care behemoth UnitedHealth Group Inc.
(UNH).
The telemedicine market in the United States is forecast to
exceed $13 billion by 2021, according to research and consulting
firm Pharmaion (http://nnw.fm/Y7wSr). An aging population, the rising
incidence of chronic diseases and spiraling health care costs are
making telemedicine one of the fastest growing sectors in health
care. Telemedicine includes multiple medical subspecialties, such
as telepediatrics, teleradiology, telepsychiatry and
telecardiology, though, often, these services are not being
effectively delivered to the people that need them most.
By partnering with rural doctors and Affordable Care
Organizations (ACOs), Medical
Innovation Holdings (MIHI) has turned the moribund
telemedicine business model on its head to provide access to
previously inaccessible specialty medical services.
Traditional telemedicine companies charge a monthly online
subscription fee to join a network to access doctors on demand.
Patients using this business-to-consumer (B2C) service are forced
into a symptom-based medical approach with limited treatment
options, since the doctor has no immediate access to diagnostic
tests or patient records. The patient is responsible for the
monthly subscription fee, as well as doctor charges, because
insurance isn’t accepted. Patients pay more, receive less and have
no continuity of care. In essence, these companies are contract
service providers that deliver virtual physician interfaces and not
genuine medical practices.
This is where MIHI stands apart from its peers. Employing its
unique business-to-business (B2B) and B2C models, MIHI connects
virtual health specialty doctors with primary care physicians and
their patients, reducing cost while enhancing quality of care. Upon
partnership with primary care doctors, MIHI provides the necessary
tools for expanded patient care and the opportunity for physicians
to expand their businesses. MIHI gives the primary doctor a full
tele-cart workstation with comprehensive peripherals. When a
patient electronically interfaces with a specialist in the local
doctor’s office, the specialist has immediate access to multiple
diagnostic tests and patient records in order to determine an
appropriate course of action based on evidentiary findings.
To provide rural clinics unmatched efficacy and set a new
standard in the marketplace, Medical Innovation has entered into an
exclusive manufacturing supply agreement for customized NextGen
telemedicine equipment that will fit the footprint of any doctor's
office partnered with MIHI and support a blend of in-office and
virtual visits (http://nnw.fm/2FeuN). The agreement with MDI Source, a
30-year veteran of the technology industry, will seamlessly couple
MDI's hardware with MIHI’s EMR/PMS software solution.
MIHI doesn’t charge a subscription fee like other telemedicine
companies but rather readily accepts insurance, including Medicare,
Medicaid and the Veterans Choice Program. The company’s mission is
being embraced by the medical community. As indication, MIHI
recently engaged a new ACO in Florida, and another, in Georgia, is
ready to come aboard, opening the door to over 1,000 new
doctors.
Substantially expanding its market reach, MIHI also recently
announced the launch of Telemedicos USA (http://www.TelemedicosUSA.com), a
Spanish-language health care platform positioned to address the
needs of the 58 million Hispanics living in the United States.
Telemedicos USA provides the opportunity for MIHI to deliver its
specialty services to a significant market demographic and provide
needed services for those who are more comfortable in the Spanish
language.
"This was a natural evolution for us. We purposefully positioned
MIHI for this market because we understand the nuances of providing
services to such an ethnically diverse group that make up the
Hispanic community,” MIHI CEO Jake Sanchez stated in the press
release.
To effectively manage rapid national deployment and maximize
operational opportunities, MIHI appointed Kevin Swint to the
position of chief operating officer (http://nnw.fm/mGE9V). A 25-year veteran in operations
and senior leadership experience in the health and wellness
industry, Swint will contribute his wealth of knowledge in IT,
retail, health care and executive management to support the
company's corporate vision. With tenures at Arthur Andersen, IDS
Scheer, Canon Technology Solutions and IBM, Swint is also a
certified professional in Healthcare Information and Management
Systems (CPHIMS) and an active member of HIMSS.
"MIHI is well-positioned to drive new value for patients,
providers and payers by increasing access to critical health and
wellness services and products while seeking to bend the cost curve
in pursuit of lower cost and improved outcomes for patients and
their families," Swint stated in the news release announcing his
appointment.
MIHI is also developing ancillary products and services that
synergistically blend with its mission. The company is negotiating
the purchase of a recognized nutraceutical company, pursuing CBD
hemp oil therapies for distribution and developing insurance
programs to cover alternative medical therapeutics. All of these
products and services will dovetail into MIHI’s nationwide network,
providing discounts to consumers and added revenue streams to both
MIHI and its local physician partners.
Using a subscription-based business-to-consumer model,
Teladoc (TDOC) offers 24/7 access to U.S. primary
care doctors and pediatricians. Patients receive symptom-based
diagnoses when they use the service for non-emergency medical
issues such as flu symptoms, ear infections or rashes. Insurance is
not accepted, and, in addition to the subscription fee, patients
are responsible for the doctor’s “encounter fee.” The fee the
patient pays is typically less than the physician charges Teladoc.
This means that Teladoc makes up the difference from its
subscription revenue. Early in the telemedicine industry, the
company has 11.5 million members and will likely be challenged to
achieve its goal of profitability by 2018. With an all-time high of
$37.55, Teladoc is trading around $32 per share. The stock surged
100% over the last year, carries a market capitalization of $1.8
billion and has a -20.77 P/E.
Physical therapy focused, eWellness Healthcare
(EWLL) offers insurance reimbursable real-time
distance-monitored treatments. The company's business model centers
on licensing its PHZIO platform to physical therapy clinics across
the U.S. and also as a monitored corporate wellness program. The
company is developing marketing channel partnerships with industry
association members, existing software-based telemedicine providers
and physical therapy billing and practice management providers. Due
to its real-time patient monitoring feature, the PHZIO platform is
insurance reimbursable. The company has a market cap of $17.3
million, losing $0.24 per share, and a price earnings ratio of
-55.
Evolent Health (EVH) supports health systems
and physician organizations in their migration toward value-based
care, rewarding health care providers with incentive payments for
the quality of care they give. Evolent provides an end-to-end,
technology-enabled services platform for providers that processes
and integrates services and enables providers to migrate their
economic orientation from fee-for-service reimbursement to models
that reward value-based payment models. The stock trades around $17
a share, down from its 52-week high of $27.50. The company has a
$1.3 billion market cap and a -13.94 P/E.
The obvious elephant in the industry, UnitedHealth Group
(UNH) operates through four segments: UnitedHealthcare,
OptumHealth, OptumInsight and OptumRx. It conducts operations
through two business platforms: health benefits operating under
UnitedHealthcare and health services operating under Optum.
NowClinic, an Internet-based service of OptumHealth, allows
consumers to select and interact with independent health care
providers. Enrollment is free, and patients pay for 10-minute
visits via credit card. Providing what may be deemed only
peripheral primary care, NowClinic collects payment, keeps a
portion and pays the doctor. There’s no continuity of care, as
doctors set available hours and choose to accept or decline patient
visits. Trading at all-time highs around $210, UNH has a market cap
of just over $200 billion.
Telemedicine has been around in varying incarnations for nearly
20 years, yet millions of citizens still suffer with little to no
critical care. History has shown preceding business models to be
self-serving top-down systems that never really practiced
community-based medicine. Only through the intelligent integration
of telecommunications, information technology and local
community-based care will telemedicine genuinely deliver on its
long-standing promise. Far flung communities will then be
healthier, and the companies that deliver on that promise will be
amply rewarded.
For more information on Medical Innovation
Holdings visit Medical
Innovation Holdings, Inc. (MIHI)
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides
(1) access to our news aggregation and syndication servers, (2)
NetworkNewsBreaks that summarize corporate news and
information, (3) enhanced press release services, (4) social media
distribution and optimization services, and (5) a full array of
corporate communication solutions. As a multifaceted financial news
and content distribution company with an extensive team of
contributing journalists and writers, NNW is uniquely positioned to
best serve private and public companies that desire to reach a wide
audience of investors, consumers, journalists and the general
public. NNW has an ever-growing distribution network of more than
5,000 key syndication outlets across the country. By cutting
through the overload of information in today’s market, NNW brings
its clients unparalleled visibility, recognition and brand
awareness. NNW is where news, content and information converge.
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Please see full terms of use and disclaimers on the
NetworkNewsWire website applicable to all content provided by NNW,
wherever published or re-published: http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article
and content set forth above. References to any issuer other than
the profiled issuer are intended solely to identify industry
participants and do not constitute an endorsement of any issuer and
do not constitute a comparison to the profiled issuer. The
commentary, views and opinions expressed in this release by NNW are
solely those of NNW. Readers of this Article and content agree that
they cannot and will not seek to hold liable NNW for any investment
decisions by their readers or subscribers. NNW are a news
dissemination and financial marketing solutions provider and are
NOT registered broker-dealers/analysts/investment advisers, hold no
investment licenses and may NOT sell, offer to sell or offer to buy
any security.
The Article and content related to the profiled company
represent the personal and subjective views of the Author, and are
subject to change at any time without notice. The information
provided in the Article and the content has been obtained from
sources which the Author believes to be reliable. However, the
Author has not independently verified or otherwise investigated all
such information. None of the Author, NNW, or any of their
respective affiliates, guarantee the accuracy or completeness of
any such information. This Article and content are not, and should
not be regarded as investment advice or as a recommendation
regarding any particular security or course of action; readers are
strongly urged to speak with their own investment advisor and
review all of the profiled issuer’s filings made with the
Securities and Exchange Commission before making any investment
decisions and should understand the risks associated with an
investment in the profiled issuer’s securities, including, but not
limited to, the complete loss of your investment.
NNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E the Securities Exchange Act of 1934, as amended and
such forward-looking statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. “Forward-looking statements” describe future expectations,
plans, results, or strategies and are generally preceded by words
such as “may”, “future”, “plan” or “planned”, “will” or “should”,
“expected,” “anticipates”, “draft”, “eventually” or “projected”.
You are cautioned that such statements are subject to a multitude
of risks and uncertainties that could cause future circumstances,
events, or results to differ materially from those projected in the
forward-looking statements, including the risks that actual results
may differ materially from those projected in the forward-looking
statements as a result of various factors, and other risks
identified in a company’s annual report on Form 10-K or 10-KSB and
other filings made by such company with the Securities and Exchange
Commission. You should consider these factors in evaluating the
forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this
release are made as of the date hereof and NNW undertake no
obligation to update such statements.
Source:
NetworkNewsWire
Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
eWellness Healthcare (CE) (USOTC:EWLL)
Historical Stock Chart
From Nov 2024 to Dec 2024
eWellness Healthcare (CE) (USOTC:EWLL)
Historical Stock Chart
From Dec 2023 to Dec 2024
