Medivolve Reports 236% Increase in Gross Weekly Revenue; Launches New EHR System Optimizing COVID-19 Testing Services

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Medivolve Electronic Health Records Portal Improves End User Experience by Improving Patient Access to Records, Laboratory Workflow and Reports

TORONTO, August 17, 2021 / PRNewswire / – Medivolve, Inc. (“Medivolve“or the”Society“) (NEO: MEDV) (OTC: COPRF) (FRA: 4NC) is pleased to announce a 236% increase in gross weekly revenue, driven by an influx of sales of COVID-19 tests, proceeding with the beta launch of the new Health Record Platform (EHR) on July 7, 2021.

The HIPAA Compliant Portal introduces new opportunities to support the company’s change in testing operations in its network of retail collection sites across United States. Since the adoption of the new portal in early July:

  • Record gross revenues of $ 1,005,050 based on the weekly average of July 4, 2021, To July 31, 2021, increased by 236% compared to $ 298,740 weekly average of the previous 4-week period June 6, 2021, To July 3, 2021.
  • Record gross revenue per patient encounter increased 158%, based on the weekly average of $ 150.00 per patient from July 4, 2021, To July 31, 2021, compared to $ 58.00 per patient on average weekly from June 6, 2021, To July 3, 2021.
  • Record tests per week increased 231%, based on the weekly average of 16,794 tests performed from July 4, 2021, To July 31, 2021compared to 5,077 tests based on the weekly average of June 6, 2021, To July 3, 2021.

“The new Medivolve portal has simplified and streamlined our ability to deliver testing at a rate never seen before,” says David Preiner, CEO of Medivolve. “Due to the new efficiencies brought by the portal, patients can now receive all the appropriate tests needed to determine if they are positive, negative for COVID-19 or have developed antibodies. “

In addition to a streamlined and easy-to-use user interface, the software not only delivers skills in operational and financial workflows between collection sites and its partner labs, but also accelerated lab results for its patients.

The outstanding features and benefits of the Medivolve EHR include:

  • Computerized supplier order entry (CPOE) improving the quality of data entry and facilitating laboratory compliance
  • CLIA certified lab workflow test site enhancements allowing for faster entry of patient information and certified results
  • Access to real-time data giving patients the ability to make informed decisions about returning to school, work or social gatherings
  • Integrated quality control bringing consistency, traceability and accountability to test services across all test sites
  • Enhanced security to meet healthcare regulations and compliance guidelines

“I am extremely pleased with the implementation of the new portal allowing us to rapidly test patients in the communities we serve,” says Preiner. “In the past five weeks alone, our test centers are administering more tests than during our peak last December. This, combined with our new insurance reimbursement model, contributes immensely to our continued strong financial growth.”

About Medivolve, Inc.

Medivolve, Inc. (NEO: MEDV; OTC: COPRF; FRA: 4NC) is a healthcare technology company that seeks to reinvent the U.S. healthcare system by leveraging a bespoke telehealth platform, a clinical diagnostic network and data-driven AI framework to improve patient care.

The company was born out of the health crisis; to rethink, relearn and, ultimately, reinvent a better functioning of the health system. Our network of retail collection sites play an important role in recovery by giving all Americans access to fast, accurate, and inexpensive clinical services when and where they need it. These centers will also play a central role in diagnostic tests, vaccinations and other point-of-care services. We develop disruptive technologies to make it easier and faster to identify, treat and prevent medical problems. In doing so, we strive to give patients a holistic and empowered view of their personal health.

Our long-term mission is to permanently solve systemic problems in the country’s fragmented, overly complex and costly healthcare system. Medivolve’s next phase of growth is to rotate the model and put the pieces together to create a profitable, SaaS-based healthcare technology business. We bring data-driven clinical diagnostics, physician referrals, and prescription drugs directly to people, all powered by a single, streamlined technology network. Our team is united by a powerful and singular goal: to harness the transformative power of technology to create healthier lives.

Backed by a bespoke AI-driven platform, we are developing a stealth system that constantly gets smarter, takes the guesswork out of diagnoses, and immediately reports critical health issues to deliver an unmatched level of personalization for every patient. We are committed to pushing the boundaries of what is possible, not only for our company and our shareholders, but for physicians and patients, and for the future of healthcare. We strive to achieve never-before-seen continuity of care, a game changer for our business and for the patients in the communities we serve.

Caution regarding forward-looking information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information includes, without limitation, statements regarding revenue growth and testing; use of the new software platform; expects to continue to grow the business of the Company; and plans to hire additional engineers and software developers. In general, forward-looking information can be identified by the use of forward-looking terms such as “plans”, “expects” or “does not expect”, “is planned”, “budget”, “planned”, “Estimates”, “foresees”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of these words and expressions or declares that certain actions, events or results ” could ”,“ could ”,“ could ”,“ could ”or“ will be taken ”,“ occur ”or“ be reached ”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors which may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, are significantly different from those expressed or implied. by this forward-looking information. Although the Company has attempted to identify important factors which could cause actual results to differ materially from those contained in forward-looking information, other factors may cause results not to be as anticipated, estimated or planned. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Therefore, readers should not place undue reliance on forward-looking information. The Company does not undertake to update forward-looking information, except in accordance with applicable securities laws.

NEO THE NEO EXCHANGE NOR ITS REGULATORY SERVICE PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS COMMUNICATION.

SOURCE Medivolve Inc.

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www.medivolve.net


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