The Global Health Limited (ASX: GLH) share price up today on news the company is experiencing strong demand for its Lifecard Patient Portal.
The post The Global Health (ASX:GLH) share price is lifting today. Here’s why. appeared first on The Motley Fool Australia. –
The Global Health Limited (ASX: GLH) share price is lifting higher today after the company announced it was experiencing strong demand for its Lifecard Patient Portal. At the time of writing, the Global Health share price is up 1.12% at 45 cents.
Global Health is an Australia-based company that develops, sells and supports the application software for the healthcare sector. The business also integrates systems that allows electronic medical records, messages, and other services to be exchanged between healthcare professionals and the patient.
Robust demand for Lifecard Patient Portal
Today, Global Health advised that COVID-19 was driving unprecedented demand for digital healthcare engagement through its Lifecard Patient Portal.
The platform was soft-launched more than 3 years ago and deployed on 3 customer sites. Since March when the pandemic impacted everyday lives, Global Health installed the Lifecard Patient Portal on 12 other platforms. That has led the company to achieve a recurring revenue stream of more than $50,000 per month within 18 months.
Global Health noted that COVID-19 has accelerated demand for its products, as the population moves towards the digital healthcare space. In turn, the push into online systems gives accurate and up-to-date information from patients to medical professionals, thus improving efficiency and productivity.
Global Health managing director Matthew Cherian, said:
Global Health is constantly looking to enhance the doctor/patient experience and improve healthcare provider productivity and efficiency, while ensuring that patients do not get lost in administration and paperwork when seeking help for their health conditions and medical issues.
The additional cost of the Lifecard Patient Portal will generate immediate financial returns for our provider customers through time saved, reduced errors, and accurate patient health and financial information into Provider clinical systems. The bottom- line results are extremely compelling for healthcare providers.
Global Health share price performance
The Global Health share price reached a 52-week high of 60 cents last month. This came as the company announced that Western Australia had awarded a 10-year contract for MasterCare EMR.
Although, its shares have since dipped around 25%, the Global Health share price is up more than 200% for 2020.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of June 30th
- Why the Bendigo and Adelaide Bank (ASX:BEN) share price is jumping higher today
- SelfWealth (ASX:SWF) share price higher on successful launch of US trading
- Want to make a million in the next market crash? I’d use these 3 Warren Buffett tips today
- Openpay (ASX: OPY) share price rockets up 8% after major announcement
- Why the Zoono (ASX:ZNO) share price is jumping 8% higher
Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.