Alcidion secure $525k contract with NT Health Department (ASX:$ALC)

Company Name: Alcidion

Announcement Date: 26/09/2016
Announcement Category: Contract/Partnership
Announcement Content:

Highlights:

• $525k contract for Alice Springs and Royal Darwin Hospitals.
• Follows the recently awarded $1.75m contract for Miya Order Sets.
• Apple iPad’s view Electronic Patient Records and highlight emerging clinical risk.
• Optimises Patient Flow, Bed Management across the Northern Territory.
• Patient Flow Market set to grow from $USD251m to $USD678.4 Million by 2019 .

The Northern Territory Department of Health has signed a $525k contract with Alcidion Group Limited (ASX:ALC) to utilise the company’s technology across the Royal Darwin and Alice Springs Hospitals. The Northern Territory Department of Health employs 6,323 staff and manages five public hospitals, and is presently constructing the new Palmerston Regional Hospital, the Northern Territory’s most technologically advanced facility.

The Miya platform collects the necessary data and builds the clinical intelligence to best manage patient care, from the Emergency Department through to the hospital wards. Clinicians can access individual patient information on a myriad of mobile devices and view clinical information such as pathology and radiology results as well as access clinical documentation. Furthermore, the platform identifies emerging clinical risk and highlights at risk patients.

In the Emergency Department, clinical staff can quickly identify those patients nearing the National Emergency Access Target (NEAT) and plan care accordingly. The solution provides an overview of capacity and demand at both the ward and unit level, providing real time information about open and available beds, patients coming in (together with the admission source) and potential and confirmed ward discharges.

CEO of Alcidion Group Limited, Mr Ray Blight commented, “We are delighted to extend our Electronic Journey Board offering to Northern Territory Health as part of our ongoing relationship. This contract comes in quick succession to the recently awarded $1.75m contract for Miya Order Sets, which implements best practice order sets for ED pathology. Journey Boards, Order Sets and Miya ED, all operate on the Miya Platform installed with NT Health”.

Efficiency improvements are by far the most significant driver for investments in patient flow solutions. More specifically, healthcare organisations are focused on improving bed turnaround times and reducing patient wait times. According to the Northern Territory ReADI program, since implementing the Alcidion solution, the NEAT performance has more than doubled from below 20% to 41%.

In the May 2016 Budget, the Northern Territory Government committed $186m over five years to renewal Core Clinical Systems.

According to leading market research firm, Markets and Markets, the global patient flow management solutions market is estimated to grow at a CAGR of 22% from 2014 to 2019, to reach $678.4 million by 2019 from $251 million in 2014.

Over the years, the healthcare industry has realized that the traditional approaches to patient flow management and cost management are inefficient to keep pace with the emerging challenges. Therefore, patient flow management solutions will be among the priorities on the investment list of healthcare organizations for highly streamlined patient flow outcomes and cost management.


Announcement URL: http://www.asx.com.au/asxpdf/20160922/pdf/43bch19xz6ydpp.pdf
About Alcidion:

Alcidion provides intelligent Health Informatics technology that empowers healthcare professionals with Clinical Decision Support Systems to ensure the highest quality of care for their patients.

Go to Company Profile for: Alcidion

Announcement Contact: [email protected]

Nathan Buzza

Having founded Clinical Middleware provider CommtechWireless in 1992, Nathan grew this business into a successful multinational with offices in Perth, Sydney, Jacksonville, Hong Kong, Shenzhen, Vejle & London deploying the technology across 8000 locations worldwide. With 25 years’ experience in software, electronics and medical technology, Nathan is recognised as a technology pioneer in the evolution and implementation of specialised medical technology. In 2008 Nathan negotiated the trade sale of CommtechWireless to Amcom Software and continued as GM for 18 months post acquisition. Prior to the acquisition, Buzza was the principal shareholder, CEO and Chief Technologist of the company and was responsible for strategic planning, technology development and administration of the company’s affairs. In 2010, Amcom Software was acquired by USA Mobility (now Spok) for $163.8m. The business was listed by BRW as one of the fastest growing privately held companies in Australia for three consecutive years and the recipient of numerous accolades including: The Telstra Small Business of the Year Award, The Department of Industry & Resources “CY O’Conner Award for Excellence in Engineering” as well as the ATUG “Best Communication Solution”. In 2006, Nathan’s accomplishments were recognised by Ernst & Young, where Nathan was awarded the “Entrepreneur of the Year” as well as the WA IT & Telecommunications Life Time achievement Award for contribution to the IT community. Nathan judged the Innovator of the Year Awards and the Curtin and Cambridge Universities Ignite Programmes in 2010. Prior to Alcidion, Nathan’s Private Equity firms were the second largest shareholder of Azure Healthcare (ASX:AZV) and during Nathan’s tenure, the company share price increased 1200%. Nathan is a member of the NiQ Healthcare Advisory Board and a General Partner in Private Equity Firm, Future Health. Nathan studied a Bachelor of Commerce at Curtin University, majoring in IT.

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