Sign In  |  Register  |  About San Rafael  |  Contact Us

San Rafael, CA
September 01, 2020 1:37pm
7-Day Forecast | Traffic
  • Search Hotels in San Rafael

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

How Technology Can Be a Game Changer in Mental Health Treatment and AI Is Leading the Way

By: Newsfile

Vancouver, Kelowna and Delta, British Columbia--(Newsfile Corp. - November 22, 2023) - Investorideas.com (www.investorideas.com), a global investor news source covering health and wellness stocks releases a special report on breakthrough technologies for mental health, featuring PanGenomic Health Inc. (CSE: NARA) (AQSE: NARA). PanGenomic describes itself as 'Your smart tech partner in natural health' and is using the power of AI to help revolutionize healing.

Read the full article on Investorideas
https://www.investorideas.com/News/2023/technology/11210Mental-Health-Treatment.asp

The global mental wellness market is anticipated to grow from USD 145.83 billion to USD 280.52 billion in 10 years. The market will experience rapid growth due to the rising awareness about mental wellness, major market players are investing extensive capital in developing therapies, drugs, medical devices, equipment, systems, and treatments based on research findings to cater to the growing mental wellness market.

Most medical experts agree we are in a global mental health crisis and it is only worsening. While some companies turn to traditional methods including pharmaceuticals to solve the growing problem, others are looking to revolutionize the way we treat mental health using technology, and AI is aiming to take the driver's seat.

PanGenomic Health Inc. (CSE: NARA) (AQSE: NARA), a precision health company that has developed a self-care digital platform using AI recently announced that its subsidiary, MUJN Diagnostics Inc. has launched its BDNF (brain-derived neurotrophic factor) mental health biomarker health assessment service.

More significantly, it has completed its first sale of the point-of-care test marketed to health clinics in Canada.

From the news: MUJN Diagnostics Inc. is a wholly-owned subsidiary of PanGenomic Health Inc. and is focused on developing a decision support system for alternative healthcare providers. MUJN's Decision Support System is intended to include biomarker diagnostics, symptom and treatment tracking, and personalized health analytics, with the goal of empowering healthcare providers and their patients towards better outcomes.

"Our strategy is to continue to expand MUJN Diagnostic's health services beyond our initial Vitamin D assessments to include rapid in-clinic access to a panel of mental health patient point-of-care biomarker assessments," said Vincent Lum, CEO of MUJN Diagnostics and Co-Founder of PanGenomic Health. "Our newest product is the MUJN BDNF Biomarker assessment for mental health and wellness. Changes in BDNF levels provide important information for health practitioners when considering treatment options for patients with brain health concerns such as major depressive disorder."

From the news: Current clinical research on BDNF has found that:

BDNF plays a significant role in the survival and development as well as creation of new neurons. BDNF has been shown to be a critical regulator of neurocognitive functions and impairment of BDNF levels have been connected to a variety of mental health diseases.

Decrease in the expression of BDNF is seen in many neurological problems such as Depression, Alzheimer's, Parkinson's, Huntington's and bipolar disease.

BDNF serum levels are lower in patients with major depressive disorder compared with those in healthy controls. Pharmacological treatments often lead to an increase in BDNF levels, which correlates with an improvement in a patient's mental health condition.

PanGenomic's current product line includes its Nustasis AI Platform, MUJN Diagnostics, and the NARA and MindLeap consumer apps, all designed to complement conventional medicine, and simplify the path to better health.

According to a June press release; "The Company is planning to launch Conversational AI on the web based NARA platform by Q3, followed by a roll out on the NARA app by Q4 of this year."

A new entry to the public market with an AI approach to mental health, WaveDancer, Inc. announced last week that it has entered into a definitive merger agreement with privately held, commercial-stage, medical technology company, Firefly Neuroscience, Inc. ("Firefly"), to combine the companies in an all-stock transaction. The combined company will focus on continuing to develop and commercialize Firefly's Artificial Intelligence driven Brain Network Analytics (BNA™) platform, which was previously cleared by the U.S. Food and Drug Administration ("FDA"). Upon closing, which is currently expected in Q1-2024, the combined company is expected to operate under the name Firefly Neuroscience, Inc., and trade on the Nasdaq Capital Market.

Describing Firefly's Brain Network Analytics (BNA™) platform the news says, "BNA™ is an FDA-cleared, cloud-based, AI-powered platform used to objectively assess brain function by comparing patient electroencephalograms (EEGs) with a proprietary database of standardized, high-definition EEGs and behavioral data. BNA™ is used by psychiatrists and neurologists in the United States to support the diagnosis of mental illnesses and cognitive disorders; optimize treatment care pathways; and improve patient compliance to therapy. Real-world clinical use has shown that when BNA™ is used as part of patient management, patients showed improved response rates; enhanced therapy compliance; and reduced non-responder rates and need for medication switching."

From the news: Jamie Benoit, Chief Executive Officer and Chairman of WaveDancer, commented, "Following a strategic review and analysis of our long-term prospects as a publicly-traded company, the Board determined that this merger is in the best interests of WaveDancer's stockholders and an attractive opportunity to realize significant value as Firefly pursues multiple market opportunities for its BNA™ platform. Firefly has emerged from the rigorous FDA approval process and its BNA™ platform has been subjected to comprehensive academic peer-review. We believe these factors contribute to a competitive advantage for Firefly and position it as a unique public company."

Harnessing the power of AI for mental health improvement, Virtual care provider Amwell as reported by Behavioral Health "has its sights set on using artificial intelligence to bolster its behavioral health capabilities."

"The telehealth giant recently launched a system within its platform that immediately connects patients to a therapist in real time."

"After Amwell providers or its AI-backed automated systems determine the patient needs mental health services, the patient is queued to see a clinician on the same platform. The move is meant to bridge a systemic gap in health care: patient activation."

"Amwell rolled out the system near the beginning of the quarter. It's part of the company's rolling implementation of Converge, a unified tech platform."

"Survey data show that about 42% of Americans who sought mental health care couldn't get it because of costs or other barriers, such as lack of proximity to care. This is a dire roadblock that keeps patients from getting the care they seek, or that is prescribed to them by primary care providers, who already have access to the patient."

Also using technology for mental health, Talkspace, a leading virtual behavioral healthcare company recently reported third quarter 2023 financial results.

Third Quarter 2023 Key Performance Metrics:

Revenue increased 32% over the prior-year period to $38.6 million, driven by a 79% year-over-year increase in the B2B revenue categories, partially offset by a 32% year-over-year consumer revenue decline.

Gross profit increased 29% over the prior-year period to $18.8 million, and gross margin declined to 48.8% from 49.8% year-over-year, driven by a shift in revenue mix towards payor.

Operating expenses were $24.0 million, down 30% year-over-year, driven by a reduction across all of our operating cost categories.

Net loss was $(4.4) million, an improvement from $(18.0) million net loss in the third quarter of 2022, primarily driven by lower operating expenses and an increase in revenues.

Talkspace pioneered the ability to text with a licensed therapist from anywhere and now offers a comprehensive suite of mental health services from self-guided products to individual and couples therapy, in addition to psychiatric treatment and medication management. With Talkspace's core psychotherapy offering, members are matched with one of thousands of licensed providers across all 50 states and can choose from a variety of subscription plans including live video, text or audio chat sessions and/or asynchronous text messaging.

As technology evolves, the applications for health and wellness are endless. As PanGenomic Health says – AI and other technology may become natural health's 'smart tech partner' of the future.

About Investorideas.com - Big Investing Ideas
Investorideas.com is a platform for investing ideas. We publish breaking stock news, stock research, guest posts and create original top rated investing podcasts, plus sector tag articles featuring up and coming companies and industry leaders. Investor Idea's original branded content includes the Crypto Corner Podcast, Play by Play Sports Podcast, Cannabis News and Stocks on the Move Podcast, Cleantech and Climate Change Podcast, Exploring Mining Podcast, Betting on Gaming Stocks Podcast and the AI Eye Podcast. We also create free investor stock directories for AI and tech, biotech, cannabis, cleantech, crypto, defense, gaming, health and wellness, mining, oil and gas, sports and water.

Public companies within the sectors we cover can use our news publishing and content creation services to help tell their story to interested investors.

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. Disclosure: This tag article featuring NARA is paid for content ( third party) Learn more about the cost of ticker tag articles and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp
Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

Follow us on Twitter https://twitter.com/Investorideas
Follow us on Facebook https://www.facebook.com/Investorideas
Follow us on YouTube https://www.youtube.com/c/Investorideas

Contact Investorideas.com
800-665-0411

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/188304

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 SanRafael.com & California Media Partners, LLC. All rights reserved.