VitalHub Introduces WellLinc Interoperability Solution
VitalHub Corp. (the “Company” or “VitalHub”) (TSXV:VHI) announced today the introduction of WellLinc, a proprietary electronic health record (“EHR") interoperability solution powered by blockchain technology.
WellLinc leverages blockchain technology to address multiple challenges associated with the exchange of health information across the continuum of care. A major problem exists wherein segregated records, lack of interoperability, and various security constraints prevent care providers from accessing critical information required to ensure informed and appropriate delivery of care.
VitalHub’s WellLinc solution targets this problem directly, using blockchain technology to enable the secure and interoperable exchange of critical patient health data, across the continuum of care.
The Company has chosen the mental health space as an initial area of focus, both due to the sheer size of the market opportunity, and having identified serious gaps in mental health care delivery that result from inadequate access to available patient health information. VitalHub has significant domain expertise building solutions for mental healthcare, and have numerous existing customers in need of such solutions.
Various research exists on the impact and cost of mental health conditions, such that "the global cost of illness for mental health conditions in 2010 was estimated at US $2.5 trillion, with the cost projected to surge to US $6.0 trillion by 2030." (The Global Economic Burden of Non-Communicable Diseases, World Economic Forum and the Harvard School of Public Health) VitalHub believes that blockchain solutions such as WellLinc hold the potential to significantly improve many of the challenges healthcare providers are currently facing across the mental health landscape, and digital health more broadly.
“After extensive market analysis, and technological research and development, we believe we are pioneering and leading the way toward creating a globally viable enterprise solution that can make electronic mental health records interoperable across the continuum of care using blockchain technologies,” said Dan Matlow, CEO of VitalHub. “With an install base of over 300 organizations that use our mental health solutions, we believe we have the foundation to begin commercializing the WellLinc solution.”
Working in partnership with the Hyperledger Foundation, VitalHub is building WellLinc using the Hyperledger Fabric Platform.
VitalHub uses web, mobile, and Blockchain technology to create disruptive SaaS-based healthcare applications that solve industry-wide problems. VitalHub's aim is to create high-value, secured solutions that enable broad interoperability among existing health data systems. Vitalhub is primarily focused on working with organizations in the Mental Health and Long-Term Care space, to further extend organization's applications across the continuum of care, powered by the security, efficiency, and trust of Blockchain technology.
The Company has a robust two-pronged growth strategy, targeting organic growth opportunities within its product suite, and pursuing an aggressive M&A plan. Currently, VitalHub serves 200+ clients across North America. VitalHub is based in Toronto, Canada, with an offshore development hub in Sri Lanka. The Company is publicly traded on the TSX Venture Exchange under the symbol "VHI".