Remote patient monitoring specialist Emerald Clinics Limited (ASX: EMD) has entered into a professional services agreement with the Precision Recovery team at New York’s Mt Sinai Hospital, one of the leading teaching and research hospitals in the United States.
The Precision Recovery Team is currently managing over 1,600 COVID-positive, COVID-suspected and COVID-recovering individuals remotely and has special expertise in this area.
Under the agreement, Mt Sinai’s Precision Recovery team will provide remote monitoring and consulting services to support the development and delivery of Emerald’s Openly clinical service worldwide, in exchange for access to the Openly app and a payment for any alert reviewed by the Mt Sinai team on request.
Openly is a digital health and wellness screening service provided via smart mobile devices and backed by Emerald’s clinical team. As announced on 15 September 2020, the Openly platform has recently been registered as a Class 1 medical device with the Australian Therapeutic Goods Administration (TGA).
Alerts may be generated by the Openly platform when certain survey responses or other health information is entered by the user. The criteria for generating alerts are configured uniquely for each client and updated by Emerald’s clinical experts as more data is acquired by the system.
Alert review requests made to the Precision Recovery team are to be initiated at the discretion of Emerald’s clinical team. The Company does not anticipate the financial consideration of this aspect of the agreement to be material.
Assistant Professor David Putrino, Director of the Precision Recovery Team at Mount Sinai and 2019 Advance Global Australian Overall Award winner said the COVID-19 pandemic had presented a considerable challenge to healthcare providers providing remote clinical services.
“COVID-19 has fundamentally changed the way that we provide high quality medical care and thrust the use of technology in healthcare to the forefront.
“Where possible, management of mild to moderate COVID cases should happen in the home, and we have been working to develop innovative technologies and clinician workflows that enable healthcare professionals to keep sick patients safe at home.”
Emerald’s CEO, Dr Michael Winlo said the agreement with Mt Sinai will improve the health and wellness screening services that can be delivered on the Openly platform to support workforces get back to business.
“This agreement allows Emerald to benefit from the real-world experiences and expertise of the Precision Recovery team which will help enhance the capabilities of the Openly technology as well as the health screening services our clinical team can deliver.
We’re thrilled to be working with such an innovative and world-leading organisation to advance remote patient care.”