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      What Caused The After Surge In Amwell (AMWL) - Stocks Telegraph

      By Fahim Awan

      Published on

      October 20, 2023

      6:19 AM UTC

      What Caused The After Surge In Amwell (AMWL) - Stocks Telegraph

      American Well Corporation (NYSE: AMWL) witnessed a remarkable ascent during the extended trading session, surging by an impressive 22.92% to reach $1.16. This substantial increase successfully mitigated the prior 7.48% loss experienced during the regular trading hours, ultimately concluding at a closing price of $0.9437. This remarkable surge in value was precipitated by a significant and noteworthy accolade bestowed upon AMWL.

      Amwell (AMWL) has recently secured a cutting-edge contract for the provision of a hybrid healthcare technology platform, specifically tailored to drive the “Digital First” evolution of the Military Health System (MHS). This esteemed contract has been granted to AMWL in collaboration with Leidos (LDOS), a distinguished FORTUNE 500 leader in the realms of science and technology.

      In accordance with this particular task order, the Leidos Partnership for Defense Health (LPDH) is set to introduce Amwell Converge, an all-encompassing hybrid healthcare facilitation platform. This platform has been meticulously designed to empower the entire spectrum of healthcare services through the application of digital, virtual, and automated modalities. It will effectively replace the existing Military Health System (MHS) Video Connect solution.

      The implementation will commence at five initial locations, followed by a phased enterprise-wide deployment. Additionally, the contract encompasses a wide array of Amwell’s automated healthcare programs, which have demonstrated a notable track record of enhancing health outcomes, including diverse behavioral health and integrated core telehealth solutions. If all available options are exercised, the task order spans a 22-month performance period, with a maximum value of $180 million allocated to the LPDH.

      Amwell has already been at the forefront of enabling hybrid healthcare within the commercial sector through its exceptional Converge platform. With this agreement, AMWL is poised to contribute its distinctive capabilities to enhance healthcare accessibility and quality for the MHS community of beneficiaries. Amwell has been chosen to collaborate with Leidos in aiding the Department of Defense in extending the advantages of hybrid healthcare to the Military Health System.

      The Digital First initiative of the Defense Health Agency (DHA) brings forth new capabilities and enhancements to MHS GENESIS, an advanced electronic health record (EHR) and healthcare system solution that supports military and veteran healthcare endeavors. The Converge platform boasts deep integration resources and an intuitive yet potent user experience that facilitates efficient and high-quality delivery of hybrid healthcare.

      This platform is already seamlessly integrated into the existing clinical workflows relied upon by healthcare teams, including those embedded within the core EHR powering MHS GENESIS. In unison, Amwell and LPDH are set to enable the DHA to harness the advantages of hybrid healthcare, enhance access to primary and behavioral healthcare, and ultimately elevate the health outcomes for the MHS community.

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