Healthcare

Doctor Care Anywhere expands services

Fri 17 Dec 21, 11:02am (AEST)
Patients can now receive prescriptions without the need for a video or phone consultations

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Key Points

  • Advanced nurse practitioners are licensed to make assessment decisions
  • Improved margins/profitability expected in 4Q 2021
  • Expanded operating model to cater for increasing healthcare demand

UK-based telehealth company, Doctor Care Anywhere Group (ASX: DOC) captured the market’s imagination yesterday after announcing the expansion of the group’s operating model from single-choice virtual GP consultations to various options based on a patient’s clinical needs.

The stock was up by as much as 10.8% on the strength of yesterday’s news, and is 1.08% higher in early morning trading to $0.47.

Under the group’s new operating model, patients will be able to see a GP in 15 or 20-minute slots, complete an online questionnaire, and receive prescriptions without the need for a video or phone consultations.

The new operating model also allows patients to have 20-minute consultations with an advanced nurse practitioners licensed to make assessment decisions, diagnostics, and treatment of patients and to prescribe medication.

Doctor Care expects yesterday’s announcements to better meet the challenge of clinical workforce shortages and ever-increasing healthcare demand.

The group has also entered into a variation of its master service agreement with its strategic partner, UK-based AXA PPP Healthcare Group.

Variations to the agreement are expected to contribute to Doctor Care Anywhere’s improved margins and profitability, with these benefits commencing in the fourth quarter of 2021.

Written By

Mark Story

Editor

Mark is an award-winning investigative financial journalist and editor who started his career working for Marathon Oil in London. He has a degree in politics/economics, a diploma in journalism and has completed the Institute of Directors course. Mark has worked on 70-plus newspapers and financial publications across Australia, NZ, the US, and Asia including: The Australian Financial Review, Money Magazine, Australian Property Investor and Finance Asia. Mark is passionate about improving the financial literacy of all Australians through the highest quality content.

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