- Through HealthTab, its flagship offering, Avricore turns pharmacies into community diagnostic centers by providing a turnkey point-of-care testing platform
- HealthTab is a multilayered operational ecosystem that provides endless possibilities, from lab-accurate tests to immediate results uploaded automatically on a web-based platform
- It enables patients to review the results on the spot with the pharmacist, allowing pharmacists to take on a more significant role in primary health services
- HealthTab ultimately aims to improve the quality of life for patients living with chronic illnesses
A recent McKinsey article observed that consumers deeply care about wellness now more than ever; this interest is growing by the day (https://ibn.fm/yy5hL). It defined wellness as encompassing better health, better fitness, better nutrition, better appearance, better sleep, and better mindfulness. McKinsey notes that better health, which is perhaps the most traditional category associated with wellness, “extends beyond medicine and supplements to include (consumer) medical devices, telemedicine, and remote healthcare services, as well as personal health trackers.”
The article further states that in pursuit of better health, consumers are increasingly taking their health into their own hands, as seen through a rise in the reliance on, among others, devices that help them monitor their own health and symptoms between doctor’s appointments.
The better health dimension is particularly important for companies such as Avricore Health (TSX.V: AVCR) (OTCQB: AVCRF), a pharmacy services innovator. AVCR is leveraging such consumer health trends along with technological advancements to provide direct access to lab-accurate tests that measure and monitor conditions such as heart disease and diabetes. Through its flagship offering and wholly owned subsidiary, HealthTab(TM), the company turns pharmacies into community diagnostic centers by providing a turnkey point-of-care testing platform.
HealthTab achieves this through a multilayered operational ecosystem that offers endless possibilities within a single platform, which first prompts the patient to create an account before using it. HealthTab utilizes the laboratory-accurate analyzers – Abbott’s Afinion 2(TM) and ID Now, as well as I-STAT – to provide valuable point-of-care screening at community pharmacies for various diseases and conditions, including diabetes, heart disease, kidney function, respiratory syncytial virus (“RSV”), influenza A and B, and Strep. Once a patient visits a pharmacy that offers HealthTab, they provide a tiny sample with a simple finger prick or swap. Currently, the platform tests and tracks a total of 23 biomarkers (https://ibn.fm/Go2Bu).
The platform, which brings these analyzers into a single, secure, cloud-based network, automatically uploads each patient’s results to their respective health dashboard, meaning the patients can access their results on the spot, as well as review them with the pharmacist. With the insights contained in the results, patients can then take steps to a healthier future with the help of the pharmacist and doctor.
In so doing, the HealthTab platform enables pharmacists to take on a greater role in primary health services and recent comments by a Mississauga, Ontario-based pharmacist Mohamed Adel Elsabakhawi, attest to this. On June 3, Avricore announced the rollout of a pilot program in which patients would have access to HealthTab and its testing and monitoring capabilities at select Shoppers Drug Mart locations. It then conducted an initial trial of the platform in an Ontario, Canada Shopper Drug Mart (https://ibn.fm/OBVRX). It was during this week-and-a-half trial period that Mohamed, who is also the Ontario store’s associate owner and first pharmacist to operate the platform, interacted with it.
“I’m so excited to have HealthTab in my store because I believe this is going to demonstrate a new and better way to do pharmacy practice,” Mohamed had said (https://ibn.fm/mP8Yc). “This is really profound because having access to lab-accurate results at our fingertips means we can better help family physicians by conducting regular follow up using advanced diagnostics with our diabetic and cardiovascular patients more effectively.”
In addition to enabling pharmacists to take on a more significant role in primary health services, HealthTab is capitalizing on the burgeoning point-of-care testing market expected to grow from an estimated $43.49 billion in 2021 to $81.37 billion in 2028, representing a 9.4% CAGR during the forecast period (https://ibn.fm/QTrSh). Nonetheless, Avricore ultimately aims to improve the quality of life for patients living with chronic illnesses.
For more information, visit the company’s website at www.AvricoreHealth.com.
NOTE TO INVESTORS: The latest news and updates relating to AVCRF are available in the company’s newsroom at https://ibn.fm/AVCRF
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