AI Healthcare Co. Creates AI Pharmacy Assistant

Treatment.com AI Inc. (TRUE:CSE; TREIF:OTCMKTS; 939:FRA) announced it will roll out a new AI (artificial intelligence) Pharmacy Assistant to support pharmacists.

Pharmacists are playing an increasing role in the provision of clinical decision support services given the increasing number of people without a general practitioner (GP) and/or the time to take for appointments, the company said.

Treatment.com AI is working closely with industry professionals and government agencies to "create a valuable tool that will have the most immediate impact for all the stakeholders," said Chief Executive Officer Dr. Essam Hamza.

"For payers, we help improve efficiency and hopefully avoid patient complications and unneeded costly hospital visits," Hamza continued. "For the pharmacists, we help relieve administrative headaches and give them comfort to see more patients. Finally, and most importantly, for the patient, we provide more and better access to care for themselves and their family members."

The new solution is expected to launch later in 2024 and is underpinned by Treatment's AI-powered proprietary Global Library of Medicine (GLM), a comprehensive and integrated online medical library created with hundreds of credentialled clinicians globally.

The Catalyst: Pharmacist-Only Option for Some

Pharmacies have provided over one million assessments for common ailments since last year, the Ontario government recently announced.

"For many people, especially in underserved communities, the pharmacist is often the only healthcare professional people see," Treatment.com AI said in a news release. "Therefore, providing these pharmacists with the tools and confidence to administer a wider range of services has a positive impact for them and the well-being of their communities."

Technical Analyst Clive Maund said the stock has "great growth potential," staying long and recommending the stock as a Buy on July 2.

AI Pharmacy Assistant will be either accessible on a patient's mobile device or through a kiosk/ tablet at the pharmacy, the company said.

It will support pharmacists by reducing the time spent on taking patient histories and symptoms utilizing the company's GLM, automatically documenting interactions with patients to provide an audit trail, extending confidence and support in expanded diagnostic support provided to patients, minimizing the risk of errors and increasing clinical efficiency, and providing comprehensive diagnostic and symptom information backed by the most reliable and up-to-date medical research, the company noted.

The global clinical decision support systems (CDSS) market is projected to grow from US$2.46 billion this year to US$4.05 billion by 2029, the company said.

"Whilst there is a clear desire to expand the pharmacist's scope of practice, there is also a huge shortage of pharmacists globally," Treatment.com AI said. "Therefore, pharmacists are being stretched at both ends: more work, less staff. Supportive and accurate support tools which can be trusted, such as Treatment.com AI’s Pharmacy Assistant, will be a pivotal part of the solution."

AI's Place Ramping Up Quickly

AI has an important role to play in the healthcare offerings of the future, a 2019 report from the National Center of Biomechanical Medicine listed in the National Library of Medicine said. "In the form of machine learning, it is the primary capability behind the development of precision medicine, widely agreed to be a sorely needed advance in care."

Four years later, AI's place is ramping up quickly. In an August 24 report for Yahoo! Finance, Nvidia founder and Chief Executive Officer Jensen Huang said, "Demand for our data center platform for AI is tremendous and broad-based across industries and customers." 

"Our demand visibility extends into next year," Huang said. "Our supply over the next several quarters will continue to ramp as we lower cycle times and work with our supply partners to add capacity."

According to a report by Markets and Markets, the global AI in healthcare market in total was valued at US$20.9 billion this year and will reach an estimated US$148.4 billion by 2029, a compound annual growth rate (CAGR)  of 48.1%.

"The growth of AI in the healthcare market is driven by the generation of large and complex healthcare datasets, the pressing need to reduce healthcare costs, improving computing power and declining hardware costs, and the rising number of partnerships and collaborations among different domains in the healthcare sector, and growing need for improvised healthcare services due to imbalance between healthcare workforce and patients," the report said.

'Great Growth Potential'

Technical Analyst Clive Maund said the stock has "great growth potential," staying long and recommending the stock as a Buy on July 2. 

"The inefficiency and waste in the healthcare industry is legendary, with patients sitting around in waiting rooms sometimes for hours waiting to see a doctor who, due to time pressure, often cannot spend an adequate amount of time with them," Maund wrote.

"Doctors, nurses, and other healthcare professionals (are) burdened with mountains of repetitive paperwork and so, perhaps more than in any other field, the potential for AI to improve the efficiency and quality of life for all involved is immense," he continued.

Maund said the company "has positioned itself to be the central go-to resource in the booming AI revolution in the healthcare industry."

"To underscore the accuracy of its platform, the company announced not long ago that its AI software passed a medical clinical exam, exceeding a 92% success rate," Maund noted.

Ownership and Share Structure

According to Sedi.ca, insiders own 7.99% of Treatment.com AI, including Chief Medical Officer, Chairman, and Director Dr. Kevin Peterson, with 7.97%. Hamza owns 0.02%.

Retail investors own the remaining 92%. 

As of August 2, 2024, the company has 48,193,421 million outstanding shares and 36,982,335 unrestricted free-float traded shares. 

As of August 2, 2024, the market cap is CA$36.1 million and its 52-week trading range is CA$0.14 to CA$1.11 per share.

Important Disclosures:

1. Treatment.com AI Inc. has a consulting relationship with an affiliate of Streetwise Reports, and pays a monthly consulting fee between US$8,000 and US$20,000.
2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Treatment.com AI Inc. 
3. Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
4. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. 

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