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MedAdvisor (ASX:MDR) - CEO, Robert Read
CEO, Robert Read
Source: Startup Daily
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  • MedAdvisor (MDR) has struck a Strategic Alliance Deal with U.S.-based payment accuracy and health management solutions company HMS
  • HMS aids health insurance companies communicate with patients to help them improve their health outcomes
  • This alliance will allow health organisations to effectively communicate with the right person in a timely manner
  • This product is expected to go live during the second quarter of FY21 and MedAdvisor is expected to receive revenue for each digital message sent
  • MedAdvisor has ended the day 11 per cent in the green and shares trading for 55.5 cents each

MedAdvisor (MDR) has struck a Strategic Alliance Deal with U.S.-based payment accuracy and health management solutions company HMS.

HMS’ solutions aid health insurance companies communicate with patients to help them improve their health outcomes and since 2016 it has deployed 865 million unique outreaches.

“We have been impressed with MedAdvisor’s capability to help patients around the globe,” HMS Group President Emmet O’Gara said.

“MedAdvisor’s technology is ideally suited to the HMS customer base and this strategic alliance provides the framework to commercially work together,” he added.

This three-year deal will see MedAdvisor’s digital health platform be integrated with HMS’ solutions to support up to 100 million insured lives.

Health organisations will be able to effectively communicate with the right person in a timely manner.

This product is expected to go live during the second quarter of FY21 and MedAdvisor is expected to receive revenue for each digital message sent.

“This deal opens up a new addressable patient population beyond our existing partnerships,” CEO Robert Read commented.

“It also adds the potential to bring a different sponsor for our health programs, in the U.S. health insurer, while leveraging the same MedAdvisor global technology platform,” he added.

MedAdvisor has ended the day 11 per cent in the green and shares trading for 55.5 cents each in a $123.3 million market cap.

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