I've got first hand experience with the iEMR system in QLD health, I was working when they did the first pilot rollout and it has since progressed to offering something I would saying moving on to par with Alcidion. Now this is being run by Cerner, with a market cap of $16billion. I'll admit I haven't thoroughly seen the ins-and-outs of ALCs offering, but from the demo videos it seems to have an adequately comprehensive system up and running which can be implemented over the top of many systems in place already.
I've since moved to an all-paper hospital and I can't agree more with everyone that integrated health records are going to save an enormous amount of money for the healthcare system. For an example I spend maybe 1/3rd of my day searching for charts, pooling together results and investigations, and hand-writing/ordering things with paper requests.
Alternatively in even the first stage of iEMR for qHealth you could for example: read the patients notes while getting a phone call referral without having to leave your clinic, allowing you to initiate tests and do preliminary investigations which will be done by the time you can review them. Couple this with the massive influx we are about to have in personal healthcare (Apple health, microsoft health kit, google will be pursuing it, in addition to the smart devices about to come on board (internet connected BP cuffs, blood glucometers, heart rate/regularity in AF, O2 sats in COPD, peak flow meters) the list goes on and on and the potential is enormous.
Now the question remains will Alcidion be on of the groups to capture some of this market share? Time will tell but so far they seem to be doing well, and having a decent initial revenue rolling in they will at least have a good shot.
Considering all the above maybe I should be moving some of my holdings into this for longterm over time.
Cheers all
ALC Price at posting:
9.2¢ Sentiment: Buy Disclosure: Held
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