The above is an article written by Mike Baird, the current CEO of Hammondcare and a former Liberal Premier of NSW. For those who have been following the PCK story, Hammondcare has been one of the earliest supporter of PainChek.
Anyway, it looks like Mike Baird is a very passionate advocate for better aged care. An excerpt from his article above states this:
Second, noting there are more than 3000 pages in the royal commission report, there are many important recommendations. The role of providers in accepting accountability of performance and providing transparent data to enable users to make informed choices is important.As is the need for the regulator to have increased capability and to manage for a culture of continuous improvement. Even the need for an independent pricing authority.
PainChek will certainly be one of those technology that will help maintain that requirement as stated in italic.
Bottom line, the timing for PainChek couldn't be better. With the recent Royal Commission report and strong advocacy from the likes of Mike Baird, there is definitely a very high chance now of PainChek being made compulsory to the whole aged care sector. Not just as a medical tool to help with pain management, but also as an audit tool to drive continuous improvement for the care of dementia patient.
I hope PainChek will wrap up the roll out by 31 May 2021 as scheduled. Even if PCK failed to roll out the full 1o0,000 beds, I believe they would have enough beds to provide enough data and information for KPMG to report to the government. If the KPMG report is highly positive and recommends the roll out of PainChek to the whole aged care sector, then I believe that will move PCK from the speculative to the investment grade end of the market.
And we haven't even discuss the potential from the other markets such as Home Care, hospital, etc. And of course, that monster baby app to be released later in the year.
PCK Price at posting:
7.9¢ Sentiment: Buy Disclosure: Held
