TORONTO, May 14, 2018 (GLOBE NEWSWIRE) -- VitalHub Corp. (the “Company” or “VitalHub”) (TSXV:VHI) is pleased to announce the introduction of a harm reduction module, aimed at the growing opioid epidemic facing North America.
Around 11.5 million Americans aged 12 and older misused prescription pain medicine in 2016, according to the Substance Abuse and Mental Health Services Administration. (CNN Library, "Opioid Crisis Quick Facts," March 2018) Opioid addiction and overdose is now the leading cause of death for Americans under 50. In response to this rising crisis, governments are implementing harm reduction programs and initiatives, aimed at lowering the incidence and severity of harmful effects attributed to opioid (and other) drug use. (Huffington Post, Nov 2017)
VitalHub has identified a significant need for a software solution that addresses the requirements of harm reduction programs, and has developed a Harm Reduction Solution to meet the growing market demand. VitalHub’s Harm Reduction module, developed on the TREAT EHR platform, can be implemented as a standalone solution or as an extension of the TREAT EHR platform, and is used by Community Health Service and Addiction Centers to facilitate their services and better manage their client and billing requirements.
The first sale of VitalHub’s Harm Reduction solution will be used to support a program by the Injection Drug Users Health Alliance (“IDUHA,” http://iduha.org) in New York State. VitalHub has licensed the Harm Reduction module to 7 of the 22 IDUHA Community Health Agencies, that are existing TREAT customers, to be implemented to support the rollout of a Medicaid-sponsored harm reduction program that goes live July 1, 2018.
Globally, there has been a push toward implementing harm reduction programs as a new way to confront the opioid epidemic. Several countries that have implemented harm reduction programs experienced dramatic improvements, including reducing drug-related deaths by 50%, and lowering drug-related crime." (Global Commission on Drug Policy, Nov 3, 2017)
Funding for harm reduction programs is strongly on the rise, and these programs require software solutions to be run and managed effectively. VitalHub intends to expand the use of its harm reduction software throughout Canada and the United States, and aims to contribute toward the overall success and sustainability of these essential programs.
“With the many changes in health care and the ability to bill for harm reduction services, we saw the need for a program that would effectively maintain our client records, and smoothen the billing process without breaking the bank,” said Fernando Soto, Founder/Executive Director, After Hours Project (IDUHA member organization). “The TREAT Program is great; it allowed us to build the elements of our program into the software step-by-step, and modify the software to include harm reduction specific templates that will be used to support the documentation of our specialty services. Overall the price was reasonable and the product is great!”
“We are looking to support our customer’s requirement to provide the highest quality of care to their clients and to expand our reach, and the opioid epidemic represents a significant opportunity to make an impact,” said Dan Matlow, CEO of VitalHub. “We believe funding by government agencies is going to continue to be introduced toward addiction and opioid-related issues, and the market need for solutions to implement and facilitate these programs will continue to grow. We believe VitalHub’s solution can add great value to these initiatives, and contribute toward the overall improvement of this crisis.”
VitalHub develops and supports mission-critical healthcare information systems in the Mental Health (Child, Youth and Adult), Long Term Care, Community Health Service, Home Health and Hospital sectors. VitalHub technologies include Blockchain, Mobile, and Web-Based Assessment and EHR solutions.
VitalHub's aim is to create high-value, secured solutions enabling interoperability among existing health data systems. VitalHub is primarily focused on working with organizations in the Mental Health, Acute and Long-Term Care space, to further extend organization's applications across the continuum of care, powered by the security, efficiency, and trust of Blockchain technology.
The Company has a robust two-pronged growth strategy, targeting organic growth opportunities within its product suite, and pursuing an aggressive M&A plan. Currently, VitalHub serves 200+ clients across North America. VitalHub is based in Toronto, Canada, with an offshore development hub in Sri Lanka. The Company is publicly traded on the TSX Venture Exchange under the symbol "VHI".
The TSX Venture Exchange has in no way passed upon the merits of the transactions and has neither approved nor disapproved the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
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