Not sure why this wasn't announced on the ASX, but ALC have announced the beginning of a research project in partnership with the DHCRC in an effort to deliver safer and more efficient clinical care.

Seems like a solid bit of news and one that builds confidence as a shareholder.

https://www.alcidion.com/news/digital-health-to-help-redesign-decision-making-in-nsw-hospitals/

Q4 FY21 Quarterly Activities Report

Highlights:

• Unaudited FY21 revenue of $25.6M - $25.9M, a 38% - 39% increase on the prior corresponding period (pcp)
• Positive net operating cash flow of $1.6M for Q4, resulting in a full year FY21 positive operating cashflow of $1.1M
• New and renewed contracts with a TCV of $7.3M in Q4, up 52% on Q3 and 97% on pcp
• Opening balance of contracted revenue to be recognised in the new financial year (FY22) of $15.1M, 18% higher than at the same time last year
• Acquired ExtraMed in April 2021, a leading UK provider of patient flow software, expanding Alcidion’s UK market presence whilst providing additional cross-sell opportunities
• Selected as preferred provider (as part of a Consortium) for a major project to provide a consolidated healthcare record and support clinical decision making (via Miya Precision) across the Australian Defence Force with potential Total Contact Value (TCV) for Alcidion of approximately $21M over 5.5 years subject to contract finalisation in Q2 FY22
• Cash balance at 30 June 2021 of $25.0M (PY: $15.9M)

Another solid quarter, cash flow positive and the renewal of contracts.

Disclosure: I hold. 

Alcidion signs Medications Management contract with NZ DHBs

Highlights:

• First strategic implementation of OPENeP in Southern Hemisphere with Te Manawa Taki DHBs (total of five DHBs) in New Zealand
• Initial pilot project will be undertaken to the value of $0.6M over ~6-7 months
• Should the pilot be successful, a subsequent rollout to up to 5 DHBs is covered by the contract
• Builds on Alcidion and Better relationship in the UK (Dartford & Gravesham and South Tees) and provides a reference site for further contracts in New Zealand and Australia

Great to see Alcidion achieving another first; I have full confidence that in ~6-7 months we'll see another announcement announcing its success!

For the sake of writing down my thoughts, here is what I took away from the Digital Health webinar.

Everything was well-presented and quite straight-forward. It didn't feel like a sales pitch, which was the issue with a previous Digital Health article on ALC. Malcolm went into great detail about the practicality of Miya Precision and how the data it collates and displays can be used by clinicians effectively and productively.

It was great to hear from Neil Perry, the Director of Digital Transformation at Dartford and Gravesham NHS Trust. He went into great detail about the selection process of why they chose Miya Precision, noting that clinicians and technical professions showed a preference to Miya Precison and pushed for it over other options, and that management are happy with the results they are seeing. The partnership aspect was an important factor to them, meaning there was no need to 'rip and replace' their previous system.

Furthering on the partnership aspect of the business, Kate mentioned the partnership with eHealth NSW, noting that it was the customer who approached them with the intention of overlaying the existing Cerner EMR with Miya Precision to strengthen it's capabilities. This resulted in what is effectively a partnership between ALC and Cerner. In another answer, Kate focused on the partnership aspect of Miya Precision, noting is their focus to build upon the strengths of other PAS/EMR systems, negating the need for hospitals to replace the systems they currently have in place.

I was aware of the capability of Miya Precision to work with other PAS/EMR systems and this presentation has increased my confidence that there isn't a need to worry when competitors win contracts, eg. Epic's recent contract with ACT Health. This should negate some of the risk for hospitals when making the decision of digitalisation in regards to the money & time investment that is often a hot-topic when hospital contracts are discussed.

For those that wish to watch, the presentation is at the bottom of the page linked below.

https://www.digitalhealth.net/events/introducing-a-new-kind-of-technology-for-the-nhs/

Introducing a new kind of technology for the NHS: Alcidion’s Miya Precision platform

https://www.digitalhealth.net/events/introducing-a-new-kind-of-technology-for-the-nhs/

As I mentioned in a previous Straw, there was a webinar on the Digital Health website last night about Alcidion and its introduction to the NHS. The webinar is now available to watch at the bottom of the page linked above.

Worth a watch for any shareholder, new or old!

Re-energising the health tech landscape

https://www.digitalhealth.net/events/re-energising-the-health-tech-landscape/

There will be a webinar in conjunction with Digital Health at 7pm (Melbourne, Sydney) on the 4th of September, 2020. The webinar will take place on Zoom.

https://zoom.us/webinar/register/WN_IQz1RZrqRU6_Z8PULWRcpQ?timezone_id=Australia%2FSydney

From the article:

"A new type of technology is being launched into the NHS that will re-energise the health tech landscape.

Miya Precision – the very first smart clinical asset for the NHS – is already attracting the attention of healthcare organisations looking to accelerate their digital adoption. Whether they are pursuing an electronic patient record, best of breed digital programme or are an integrated care system joining up disparate systems, Miya Precision offers an intelligent solution to unlock value from existing investments.

Using its clinical decision support engine, Miya Precision provides the necessary automation to alleviate the cognitive burden faced by clinicians. Early communications about the smart clinical asset sparked significant reaction from Digital Health readers and now Alcidion is holding this webinar with Digital Health to share more detailed information.

This webinar will:

• Introduce how and why the NHS needs a smart clinical asset as a new type of technology
• Provide details of the solution and how it works
• Offer an opportunity to ask questions of those bringing the new product to market and supporters from the health sector

Speakers include:

• Kate Quirke, CEO Alcidion
• Malcolm Pradhan, Director, chief medical officer
• Lynette Ousby, general manager UK
• Tom Scott, sales director UK, Alcidion
• Other industry supporters (to be announced)