Intelligent pain assessment company Painchek (ASX: PCK) is eager to become the new standard of care in aged care settings, today announcing that licensed agreements for their platform’s use now encompass 60% of Australian aged care providers.
PainChek’s mobile based pain assessment tool uses AI and facial recognition software to objectively automate and quantify pain levels at the point of care. It is primarily used with non verbal patients suffering with dementia or other cognitive and communication issues. The clinically proven app is easy to use, and offers rapid pain assessment in under 3 minutes.
The Company has achieved a key milestone of 127,000 licensed residential aged care beds, with almost 50,000 added between April and May this year across 127 providers and 586 facilities.
The impressive uptick was facilitated in part by a Federal Government grant offering fully funded 12 month PainChek licenses to all Australian residential aged care facilities. The grant functions to promote innovation in aged care and support improvement of care. The deadline for sign up ended on May 31st 2021.
Building upon four consecutive quarters of impressive, double digit growth, the Company is glad to now include new clients such as BUPA, Bolton Clarke, Opal Healthcare and Estia Health.
PainCheck CEO, Philip Daffas said: “The goal of the Government grant was to accelerate access to PainChek for those residents living with dementia in Australian Residential Aged Care. We are delighted that close to 60% of all Australian aged care providers and facilities are now on board, many of which are already seeing the clinical benefits of PainChek for the residents and staff.
“Our goal is to continue to ensure pain is effectively assessed and managed for all people everywhere, with aged care being an initial critical first market where we’ve become a favourite clinical software tool.
“We now have a proven product and sustainable business model for entering the overseas aged care markets and the larger global home care and hospital markets- with the PainChek Adult Universal App and the Infant App both of which recently received international regulatory clearance.”
Further details on the Company’s financial performance will be included in the June 21 quarterly update.
Samantha Freidin is a business journalist at Emerald Financial whilst also completing a Masters of Marketing and Digital Communications at Monash University.
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