A sell-off wave that had pushed Medical Innovation Holdings Inc (OTCMKTS:MIHI) to all-time lows has lost momentum. The stock is showing signs of trading higher following the announcement that the company will is set to adopt blockchain technology to protect patient’s medical and financial data. Stock Price Analysis Medical innovation Holding has gained more than 90% in market value since of the start of the year. The rally underscores growing investors’ confidence about the company’s growth prospects given the opportunity at hand on the protection of sensitive data in the healthcare industry. MIHI Daily ChartThe stock needs to break above the $0.7 mark to affirm the upward trend. Given the recent pullback from the $0.69 handle, it awaits to be seen if this was a minor correction pending a further movement on the upside. On the downside, immediate support is at the $0.3 mark, below which the stock could drop to its 52-week low of $0.13.Before we look at the catalysts fuelling a buying spree of the stock, let us review what the company does in its pursuit of growth and shareholder value.Medical Innovation Holding Business OverviewMedical Innovation Holdings, bills itself as a multi-disciplinary medical specialist provider focused on serving rural patient population through telemedicine. The company boasts of an integrated practice management system that provides electronic medical records health records, real-time insurance verification as well as video conferencing and billing capabilities.Through its wholly-owned subsidiary 3 Point Care, the company provides personalized, high tech, high touch telemedicine encounters thus connecting patients with multi-disciplinary specialty clinical healthcare practice. Medical Innovation Holdings also offers Affordable Care Organization support as well as wellness, lab analysis and lab services through partnerships with other companies.Medical Innovation Holding is the subject of increased focus on Wall Street on announcing plans to develop a blockchain platform for ensuring secure healthcare records and payment systems.Blockchain Platform Ambitions Just like other companies, Medical Innovation Holding has seen its share price receive a boost on reiterating its blockchain ambitions. The health industry has for years struggled with the problem of ensuring secure storage of patient’s data and information. It is a problem that has seen many players in the sector spend millions of dollar in a bid to keep hackers and unauthorized access at bay.Medical Innovation Holding now sees blockchain technology as a source of the immutable ledger of information for protecting patient medical and financial data.The company is in the process of releasing an initial version of the blockchain platform that will support its operations before being opened to third parties.
“Committing MIHI to blockchain development will ensure that the medical data we move across the healthcare ecosystem can be trusted, secure and immutable and that our automated workflows will be a tremendous differentiator in a crowded market," said CEO, Arturo Sanchez.
According to the CEO, the proposed blockchain system will revolutionize how people receive and share medical and financial information. Instead of patients having to fill out medical history forms, they will be able to share their virtual records electronically.In addition to the blockchain endeavor, Medical Innovation Holding has entered into a strategic agreement with AeonMD, a provider of wellness therapies. Under the contract, the company’s subsidiary Bkare Diagnostics is to expand its offering to primary care physicians featuring AeonMD ADAPT Diagnostics solution.ADAPT solution offers a comprehensive and integrated approach to analyzing diagnosing and delivering patient wellness therapies. A merger between ADAPT and MIHI Telemedicine specialist services should result in a tremendous boost of productivity of primary care physicians.Integration of ADAPT service should diversify and strengthen Medical Innovation Holding revenue stream. It should also lead to immediate improvement of the company’s customers practice effectiveness and financial wellbeing.
"We are excited about the opportunity to partner with thought-leaders such as MIHI and their BKare Diagnostics division. We believe that we are at the forefront of the impending wellness megatrend in healthcare and that our mutual synergies can accelerate this transition", stated Greg Nakagawa, CEO of AeonMD.
Bottom Line Medical Innovation Holding is doing an impressive job in a bid to provide all manner of healthcare-related services and products. By creating a comprehensive healthcare-centric business ecosystem, the company is on course to becoming a revolutionary telemedicine company.The fact that an estimated 60-80 million Americans live in rural areas presents a unique opportunity for the company to leverage in its push for more revenues. The AeonMD collaboration is one such collaboration that sets the company on course to generate more revenues by targeting un-tapped markets.Medical Innovation Holding’s keen eye on niche markets is another aspect that makes it an exciting pick as a long-term investment. Should the company come up with a compelling blockchain platform for protecting patient data and financial information, it stands to generate a lot of returns given the size of the market.Traditional means of protecting patient medical and financial data is failing thus presenting an opportunity that the company can take advantage of, in pursuit of shareholder value.We will be updating our subscribers as soon as we know more. For the latest updates on MIHI, sign up below!Disclosure: We have no position in MIHI and have not been compensated for this article.
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