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Mydecine Innovations Group (MYCO.C) gets into the telehealth game ahead of COVID 2.0

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10/02/2020

Mydecine Innovations Group (MYCO.C) launched Mindleap Health, a digital telehealth mobile application today.

The intent behind Mindleap is to increase access to mental health services and provide analytics and data into mental health so doctors can optimize goal seeing, mood, emotion and habit tracking to maximize positive outcomes.

“It is incredible that a simple idea has become a vibrant company with innovative technology that will soon create a lot of happy customers. Our team carried out the development of an extremely complex system in a short period of time and we are just getting started. Our culture is about continuous improvement and we are already developing our advanced mental health analytics capabilities,” said Nikolai Vassev, the founder and chief executive officer of Mindleap Health.

The platform is free for end users and also specialists who can build a profile after passing the company’s approval process. The company makes money is the customer platform services, and that’s a 9% fee as a percentage per session.

The platform allows access to vetted mental health professionals anytime and from anywhere, allowing specialists to set their prices, update their own calendar and timelines and immediately begin seeing new patients. Mindleap also includes a high definition video call option, allowing patients to share their data with their specialist as well as giving the specialist the ability to go beyond the data and see the patient in real time. Sometimes mental health can be anecdotal and difficult for patients to articulate in text or via non-interpersonal methods like e-mail, so having face to face interactions allow the specialist a further option to visually see and assess the patient.

The telehealth market is expected to become a $560 billion market by 2027, according to Fortune Business Insights, which represents a 25.2 compound annual growth rate. The global pandemic has also increased demand for these types of services and it’s expected there will be over one billion telemedicine sessions by year’s end.

—Joseph Morton

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