Operational update in view of the Covid-19 pandemic

The pandemic’s impact on healthcare digitalization
Over the past few months the Covid-19 pandemic has been a major test for the Swedish healthcare system, and it is likely to remain so for a long time to come. Thanks to Sweden’s highly skilled and capable healthcare professionals, the healthcare system has successfully implemented significant restructuring initiatives to handle unforeseen challenges and hardships.
 
Regions across the country have mobilized on a broad front to make digital care available to tackle new needs – a realignment that Patrik Sundström (eHealth program director at the Swedish Association of Local Authorities and Regions) is convinced will have lasting effects on the healthcare system.[1] The experience and sense of security gained from working in new ways using smart technology will increase the pace of renewal within the public sector, which may benefit FRISQ in the medium to long term.
 
We have continuously made adjustments to our operations based on the new situation. Some parts of the healthcare system are currently under extreme pressure, while pressure has eased in other areas. As a result, certain processes have had to be put on hold to allow the acceleration of others. The short-term focus has been on adjusting processes and plans based on the new situation. The current recommendations on social distancing and restrictions on physical meetings have affected our regular sales procedures, while also providing us with the opportunity to reach more contact points simultaneously through webinars, and we have seen an increased interest in our product for several reasons.
 
FRISQ: a unique solution for patient engagement
The Swedish government’s official report, “Good quality, local healthcare” (SOU 2017:01 “God och nära vård”), was presented in early April. The report identified FRISQ as the only digital solution to date that meets the requirements for the “patient contract”.
 
The ”patient contract” is a fundamental component of the government’s concentrated effort to tackle future healthcare challenges, including innovations in patient engagement. In practical terms, it involves providing patients with an overview of their care processes and options to actively participate in their healthcare plans, along with their care providers. The report explicitly acknowledges the need for FRISQ’s solution and the role it can play in future healthcare.
 
FRISQ’s focus and goals moving forward
The focus areas presented in conjunction withthe share issue earlier this year remain. We continue to prioritize long-term value-creating initiatives focused on further developing the product’s scalability, ongoing work with existing customers and sales processes, and laying the groundwork to participate in larger and longer-term, more profitable business opportunities.
 
With respect to FRISQ’s establishment in the U.S., the plan remains in place but has shifted slightly in time as FRISQ’s initial customers and partners, by necessity, have refocused their near-term operations on the Covid-19 situation. We expect to resume work as soon as the Covid-situation is under control on the U.S. East Coast.
 
Our previously communicated objectives remain. However, due to the unforeseeable effects of the Covid-19 pandemic on society in general and healthcare in particular, the company’s goals may be revised when opportunities and consequences become more apparent.
 
We would like to close this update by saying that, despite the ongoing and extremely tense situation for society and the healthcare system, we are highly confident about the future and the need for more connected, accessible and efficient healthcare. Time and again, FRISQ has proven to be a key component in managing healthcare’s future challenges – through recognition from government authorities and commissions as well as the excellent results we have shown with our customers in, for example, measurements of patient engagement.
 
The past few months have clearly demonstrated that the Swedish healthcare system is well equipped to adjust and rapidly adapt to new procedures and working methods, while also highlighting a great need for revitalized, more up-to-date digital solutions that can follow patients in a more structured, efficient and engaging way – including remotely. We intend to take an active role at the forefront of this development.

This publication is a translation of the original Swedish text. In the event of inconsistency or discrepancy between the Swedish version and this publication, the Swedish language version shall prevail.

[1] https://www.svt.se/nyheter/inrikes/rusning-efter-lakarbesok-i-mobilen-pa-grund-av-corona