An ASX listed digital health technology company
Visionflex will be merging with ASX listed 1st Group Ltd, a leading Australian digital health technology company that services thousands of customers in Australia and New Zealand, presenting new opportunities for Visionflex customers.
Summary
Telehealth usage has surged as a result of the COVID-19 outbreak, as consumers and healthcare providers seek ways to safely access and deliver healthcare. According to McKinsey & Co, in April 2020 overall telehealth utilisation globally for private practice visits and outpatient care was 78 times higher than in February 2020 and has since settled to a still impressive 38x growth (Feb 2021) since pre-COVID-19 baselines.
Telehealth service delivery in Australia has seen a similar surge, the result being that the Australian Government has announced it is now committed to permanent Medicare support for telehealth consults. That said, GPs and other healthcare providers have struggled to transition to a more clinically reliable video-based platform, leaving the telephone as the most used form of telehealth consult in Australia. This is not sustainable, and the quality healthcare services will suffer with that level of reliance on the telephone.
Why has the telephone been the primary method for telehealth in Australia up until now? For GPs and other healthcare providers, telephone calls are frequently seen as faster and more time efficient, as well as being simpler to use. While it is widely accepted that video-based telehealth solutions are clinically better for both the patient and doctor. Unfortunately, many doctors simply haven’t had the hardware tools, software, or digital diagnostic devices in place, nor the training and experience to make a more rapid and confident shift to video and digitally based consults. Until now!
By integrating the digital patient engagement capabilities of 1st Group’s MyHealth1st, PetYeti and GoBookings platforms with the Vision telehealth solutions, healthcare providers will now have access to the most comprehensive integrated telehealth diagnostic solutions available on the market from a single solution provider, including enabling telephone consults via the new platform! This dramatically simplifies the transition for GPs, Specialists, Psychologists, and other healthcare professionals to digital healthcare. It enables healthcare professionals to embrace the expansion of their telehealth service capabilities, not only within private practice and hospitals, but in aged care, home care, regional and other forms of remote care operations.
From day 1 both company’s missions have been to simplify access to healthcare for everyone through technology and digital platforms. Merging these two businesses brings both company’s one step closer to delivering on that mission.
For Visionflex customers, nothing changes other than the opportunity to access a broader range of capabilities and services. You will continue to be supported by the same outstanding team.
Yours sincerely,
Klaus Bartosch - MD 1st Group and Mike Harman - Head of Visionflex
