Ann: Alcidion Secure $525k Contract with The NT-ALC.AX, page-2

Alcidion secure $525k contract with NT Health Department

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 20191.
1 http://www.marketsandmarkets.com/PressReleases/patient-flow-management-solutions.asp

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 ReADI2 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.
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