MCI Onehealth Technologies Inc. chief financial officer Scott Nirenberski pictured at his home in King City, Ont. on May 10, 2021.SUPPLIED
It’s too soon to say which of the trends expedited by the pandemic — like remote work, online fitness, or Canada’s small-town real estate boom — will continue in the years to come. But there’s one certain to stay: the shift to virtual health care.
The COVID-19 restrictions have turned telehealth into a sector staple. Nearly 70 per cent of Canadians who sought medical support during the pandemic have used some form of virtual care, according to a Canada Health Infoway survey — and most want to continue when it’s over.
Investors are also taking notice: Billions of dollars have been pouring into digital-health startups since the pandemic started, including MCI Onehealth Technologies Inc. (DRDR-T), which completed a $30-million initial public offering in January.
The investor attention could be the catalyst that helps Canada build a better health care system, says MCI chief financial officer Scott Nirenberski.
“We want to take the opportunity the pandemic has created and leverage it into a better experience for patients, for doctors, and for the health profession overall,” Mr. Nirenberski says of the role he sees his company playing in the industry-wide improvements.
MCI’s health care roots
MCI may be new to the public market, but not the health care space. For more than 30 years, the Toronto-based company has operated one of the country’s leading networks of brick-and-mortar primary-care clinics, serving more than 850,000 patients each year. Last year, the company shifted its focus to include pioneering virtual care services, driven by the latest technologies.
An example is MCI Connect, a portal that connects patients to physicians for consultations, prescriptions and referrals. The differentiator with MCI Connect and the competition is its ability to refer patients to other MCI health care professionals, or even the same doctor they’ve consulted virtually.
It creates a continuity of care not always available among other virtual-care providers, Mr. Nirenberski says, which is why some virtual health care companies have started adding brick-and-mortar clinics to their roster.
“You risk disrupting the quality of care and the patient’s experience if you have to refer them to another place to get them physically seen when it’s necessary,” he says.
Using tech to transform Canada’s health care system
Mr. Nirenberski says MCI’s goal is to use advanced technologies to drive change across Canada’s primary health care system.
“Our health system is built around break-fix,” he says. “You have a problem; you get it fixed. We don’t focus nearly enough on preventing the breakage in the first place and we end up with a suboptimal system and where your hospital rooms are packed, doctors are overwhelmed, and patients have worse health outcomes. That isn’t going to be solved simply by being able to see your doctor through a portal on your phone or your computer.”
Mr. Nirenberski believes MCI’s technology offerings can help solve deeper issues in the system. For example, he says MCI’s platform can analyze and identify subtle trends in diagnostic tests for specific patients, which physicians may miss.
The company’s brightOS data analytics platform, which utilizes insights from clinical data to better understand disease progression, can also be used to help physicians provide better treatment options.
Governments and academic institutions can use the platform and MCI will soon begin selling bundled, anonymized data by subscription to be commercialized by pharmaceutical developers, medical-device manufacturers and others. Patients will have the opportunity to consent to experimental studies and treatments that can potentially improve their outcomes and advance medical knowledge.
MCI is also working on other industry-leading initiatives, including developing a stronger platform to help doctors rapidly screen and identify patients with rare and complex diseases and acquiring specialty clinics to offer more referrals within its own network.
A balanced health care plan
The company’s growth strategy also includes building up its strong foundation of government-insured patient care and layering in more corporate clients and private insurers to achieve an approximate 50-50 split.
“The non-government side is a much higher margin business and will drive a heck of a lot more value for investors,” Mr. Nirenberski says.
He believes MCI’s combination of a solid bricks-and-mortar clinic network and a growing virtual-care strategy creates a unique value proposition for patients, physicians and investors.
“Our acquisition strategy now is about enhancing services, accelerating tech, and finding that high-margin business while offering the best care out there,” Mr. Nirenberski says. “We’re setting our bar as high as it’ll go.”
Advertising feature produced by Globe Content Studio with MCI. The Globe’s editorial department was not involved.