In the midst of the current coronavirus pandemic, companies that offer virtual appointments are seeing a rise in usage. With the population self-isolating and staying indoors and with many doctors offices closing, virtual appointments have become crucial to addressing all emerging health concerns. Its not just about speaking with a doctor though, its about providing patients with the best possible care from afar to prevent any potential spread of COVID-19.

Digitization has allowed these types of meetings to become a realityit has opened the door for highly tailored and precise healthcare.

Artificial intelligence, blockchain, and 5G connectivity are all assisting in pushing healthcares move into the futuresomething like this wasnt available 5-10 years ago.

Additionally, options like DNA profiling have also expanded the universe of big data that clinicians can mine in search of the right treatments for their patients. And that universe is getting bigger all the time MIT Technology review estimates more than 26 million people have taken a DNA ancestry test in the U.S. alone.

And people arent just getting ancestry data with their profiles. In some cases, theyre also getting specific medical information on their predisposition to certain diseases. Many patients are also taking advantage of the convenience of telemedicine to get health advice on their data.

Coinciding with the explosion in digitized medicine is the equally rapid emergence of the hemp-based CBD market. And with health and wellness becoming more of a priority than ever, health practitioners, along with patients, are searching for more natural holistic health alternatives.

As such, the current market volatility hasnt stopped Empower Clinics Inc (CSE: CBDT, OTC: EPWCF, FRA: 8EC) from operating and expanding on its service offering. The companys clinics remain in high demandpatient visits in corporate clinics are continuing at a record pace, with patients demonstrating an even greater need for plant-based holistic medicine, as the impact of COVID-19 becomes more pervasive.

Medical cannabis certifications are considered an essential service during this time, and Steve McAuley, CEO of Empower Clinics, notes that the companys clinics remain incredibly busy.

We had to quickly adapt clinic operating procedures to ensure optimum safety for employees and patients, updating cleaning and sanitation protocols, and providing extensive new communications to our team and patients.

With cannabis being a crucial part of treatment regimensfor thousands, Empower is proud to continue providing their consumers with medical cannabis treatment options.

So, with all of this in mind, the company is betting that telemedicine, along with DNA testing, will go a long way in helping consumers choose the right CBD product for their ailments and genetic profile.

Steve McAuley, CEO, Empower Clinics Inc.

Precise treatment through genetic testing

As a vertically integrated CBD life sciences company, Empower is level-set on helping patients get scientific with their choice of CBD products. The company recently established a crucial partnership with Endocanna Health to license and distribute its Endo.dnaTM test kits through its network of clinics. This is a significant example of the company making strides towards catering to its patient database and better understanding what their consumers need.

McAuley believes this testing can help doctors make better choices about the right treatment plan for their patients the more doctors know about their patients health prior to a consultation, the better. He notes, Our Sollievo line of CBD products has 25 unique CBD-based SKUs with different products targeting different ailments.

Empower will market the Endo.dnaTM kits not only through its clinics, but also through direct marketing to its 165,000-patient database. With six corporate clinics under the Sun Valley Health moniker and more on the way with franchising, the company is confident it can get the word out about how DNA testing can help doctors and patients make more informed cannabis and CBD-based recommendations.

Armed with a patients personalized health information, including genetic testing data, doctors can potentially help patients determine the type of cannabis or CBD, the specific dose and the type of delivery system that would be best suited to their ailments. For example, taking the Endo.dnaTM test results in a personalized report, called Endo-Decoded, that analyzes specific DNA markers to help guide doctor-patient decisions.

Virtual care: The consumer-centric revolution

As with most industries, healthcare is becoming more consumer-centric, and that goes beyond the digitization of health records to include options for how to see your clinician, including telemedicine. Increasingly, consumers are expecting solutions that are coordinated, convenient, customized and accessible.

This trend is being driven by several factors, including the increasing prevalence of chronic diseases, the growth of high-deductible insurance plans that push costs onto patients, the explosion of digital tools, emerging channels of competition within the healthcare market, and the coronavirus pandemic, which has shaken numerous industries.

McAuley explains, A telemedicine platform is available at all our Sun Valley clinics and, given the trends, we expect to see increased traffic through telemedicine. He sees this option as a way to amplify the reach and impact of Empowers network of clinics in Oregon and Arizona. This is also an important way to reach patients who are self-isolating at home or are in quarantine.

Although Arizona and Oregon have declared a State of Emergency over the coronavirus outbreak, as a medical service provider, Empowers corporate medical clinics are considered an essential service and are not subject to certain mandated closures. The company, has, however made changes to its clinic operations and patient management based on the most recent recommendations from the Centers for Disease Control and Prevention, and their guidance for healthcare facilities.

Empower expects its reach for the Sun Valley clinics to increase especially now that Sun Valley Health reached its first franchise agreement with a franchisee in Tulsa, Oklahoma. Franchising is the primary way Empower plans to expand its footprint in the U.S.

McAuley adds, Franchising Sun Valley Health is our preferred path. We would be willing to look at an acquisition of another clinic group, similar to what we did with Sun Valley, but were not interested in opening up single locations ourselves.

The company sees franchising as a force multiplier for the companys business model, one that will allow it to improve its healthcare approach and make its products and services available to more customers.

Advent of plant-based approached to health

With a hemp-based CBD extraction facility near Portland, Oregon, and that 165,000-patient database, Empower Clinics plans to stay in the vanguard of the CBD market.

McAuley comments, I know Professor MJ Malloy, who is heading up UBCs Cannabis Research division, is trying to understand the impact of cannabis on PTSD sufferers. In Arizona, Sun Valley is the largest certifier of veterans in the state we have a lot of data that could be very useful for its research.

At the end of 2019, a study carried out by the B.C. Centre on Substance Use (BCCSU) and the University of British Columbia (UBC) found that People who have PTSD but do not medicate with cannabis are far more likely to suffer from severe depression and have suicidal thoughts than those who reported cannabis use over the past year. This study surveyed more than 24,000 Canadians and was the first to document the relationships between PTSD, cannabis use, and severe mental health outcomes in a sample representative of the population.

More research is actively underway to explore the potential for cannabis to be used as a treatment for multiple sclerosis, substance use, as well as PTSD in veterans and first responders. Further results are expected to shine more light into the effectiveness of the cannabis plant, so it will be interesting to learn more as the data comes out.

And its not just cannabis and hemp-based CBD theres also growing trend of using psychedelics like psilocybin to help combat opioid use. The movement towards plant-based medical approaches is all part of a broader shift to stem away from opioids and prescription medicine, which have been blamed for causing overdoses in millions of people worldwide.

Riding healthcare trends to rapid growth

BDS Analytics and Arcview Market Research project that CBD sales in the U.S. alone will exceed USD$20 billion by 2024. Empower Clinic plans to ride that growth wave using its franchising model and strategic partnerships. That plan includes multiple revenue streams consisting of franchise fees, royalties, clinic revenues, CBD product sales and wholesale revenues from its extraction facility.

The partnership with Endocanna to distribute Endo.dnaTM kits, combined with its telemedicine offering, puts Empower at the forefront of CBD-based healthcare solutions, and makes them a significant thought leader in the space. Moreover, its vertically integrated model allows the company to both control its supply chain and realize increased margin.

Trading under the symbol CBDT.CSE, Empower projects its revenue will grow by more than 275 per cent by the time its exits 2021. With a highly experienced management team and board of directors, multiple revenue streams that are scalable, CBD product sales, technology IP development, and more, Empower Clinics appears to be well-positioned to capitalize on converging trends in plant-based health solutions and the digitization and personalization of healthcare.

The company understands that the current market conditions are affecting many industries, but healthcare shouldnt be compromised. People should be able to reach a doctor, even if it is remotely. To learn more about how the company stands out from the crowd, and how their telemedicine option works, visit their website here.

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Digital health and CBD are propelling Empower Clinics forward - BNNBloomberg.ca

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