Economic Evaluation of Lumos Diagnostics’ FebriDx® Point-of-Care Test Highlights $2.5 Billion in Potential U.S. Healthcare Cost Savings Annually
October 06 2021 - 8:02AM
Business Wire
Journal of Health Economics and Outcomes
Research Publishes Cost Impact of the Novel, Rapid Point-of-Care
Test
Lumos Diagnostics (ASX: LDX), a leader in rapid point-of-care
(POC) diagnostic technologies, today announced that the Journal of
Health Economics and Outcomes Research (JHEOR) has published an
economic study that concludes using the FebriDx® test to guide
antibiotic treatment for patients presenting with acute respiratory
infections (ARIs) could potentially result in $2.5 billion of
annual cost saving for the U.S. healthcare system.
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The FebriDx point-of-care test from Lumos
Diagnostics could reduce U.S. healthcare costs by $2.5 billion
annually, according to a study published by the Journal of Health
Economics and Outcomes Research. Download the study at
https://doi.org/10.36469/001c.27753. (Photo: Business Wire)
The journal article, authored by Avalon Health Economics, is
entitled, “Economic Evaluation of FebriDx®: a Novel Rapid,
Point-of-Care Test for Differentiation of Viral versus Bacterial
Acute Respiratory Infection in the United States.”1 According to
the study, the diagnostic accuracy of FebriDx to distinguish
between bacterial and viral ARIs has been evaluated in multi-center
U.S. clinical trials. The FebriDx test was determined to have both
high sensitivity (up to 95%) to detect a bacterial infection and up
to 99% negative predictive value (NPV) to safely rule out a
bacterial infection.
“Rapid, accurate and actionable information can help increase
diagnostic certainty and reduce healthcare costs,” said John
Schneider PhD, CEO of Avalon Health Economics. “FebriDx is a simple
fingerstick blood test that differentiates viral from bacterial
acute respiratory infection within 10 minutes and thereby helps
doctors focus antibiotic treatment where it is needed to combat the
growing threat of antibiotic resistance.”
The potential cost savings attributed to using FebriDx are based
on a budget impact model developed by Avalon Health Economics that
uses published data from 2010 to 2020. The model considers the
total cost of antibiotic treatment, antibiotic resistant
infections, antibiotic-related adverse events, and point-of-care
testing on a national level. Key data referenced in the article
include:
- There are more than 150 million outpatient and emergency
department (ED) visits for ARIs each year in the U.S. and about
half of the antibiotics prescribed during these visits are
considered medically unnecessary.
- According to the U.S. Centers for Disease Control and
Prevention, 2.8 million antibiotic resistant infections occur
annually in the U.S., 35,000 of which are fatal including
complications from Clostridium difficile (C-diff) infections.
- Antibiotic-related adverse events are a common cause of both
hospitalizations and ED visits, accounting for over 16% of all
outpatient adverse drug event visits.
- Outpatient settings are an important focus for future
antibiotic stewardship as they account for 59% of all antibiotic
expenditures from 2010 to 2015.
Key drivers of antibiotic misuse include difficulty
differentiating viral from bacterial infection due to overlapping
clinical presentation and long laboratory-based testing turnaround
times. This diagnostic uncertainty, coupled with clinician concern
about missing bacterial infections, as well as patient expectation
of receiving a prescription, can lead to inappropriate antibiotic
prescriptions. This economic analysis determines that using FebriDx
to manage patients with suspected ARIs in outpatient settings may
lead to a considerable reduction in unnecessary antibiotics, which
could lead to a reduction in antimicrobial resistance and adverse
events.
The study highlighted potential for meaningful cost savings even
though the study’s budget model excluded other notable cost factors
such as:
- Potential cost savings due to enhanced workflow and efficiency
in emergency and urgent care settings
- Rapid identification of bacterial infection and reduced risk of
morbidity or sepsis associated with delayed treatment
- Costs and delays associated with other testing
- Acceleration of antimicrobial resistance and so called
“superbugs” associated with the ongoing COVID-19 pandemic
The FebriDx test is under review and these intended use and
performance claims have not been approved by the U.S. Food and Drug
Administration (FDA). FebriDx is not currently available for sale
in the U.S. FebriDx is approved by the corresponding regulatory
agencies and available to qualified healthcare providers in Europe,
Canada and Australia.
The study published in the JHEOR can be accessed at
https://doi.org/10.36469/001c.27753.
1 Dick, Katherine, and John Schneider. "Economic Evaluation of
FebriDx®: A Novel Rapid, Point-of-Care Test for Differentiation of
Viral versus Bacterial Acute Respiratory Infection in the United
States." Journal of Health Economics and Outcomes Research 8.2
(2021): 56-62.
About Lumos Diagnostics
Lumos Diagnostics specializes in rapid, cost-effective, and
complete point-of-care (POC) diagnostic test technology to help
healthcare professionals more accurately diagnose and manage
medical conditions. Lumos offers customized assay development and
manufacturing services for POC tests and proprietary digital reader
platforms. Lumos also directly develops, manufactures, and
commercializes novel Lumos-branded POC tests that target infectious
and inflammatory diseases.
For more information visit lumosdiagnostics.com or
febridx.com.
Forward-Looking Statements
This announcement contains forward-looking statements, including
references to forecasts. Forward-looking statements are not
guarantees of future performance and involve known and unknown
risks, uncertainties, assumptions, and other important factors,
many of which are beyond Lumos' control and speak only as of the
date of this announcement. Readers are cautioned not to place undue
reliance on forward-looking statements.
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Media Contacts (U.S. and Global): Jennifer Christiansen –
Lumos Diagnostics jennifer.christiansen@lumosdiagnostics.com +1 920
784 3153
Media Contact (Australia): Haley Chartres – H^CK
haley@hck.digital +61 423 139 163
Investor Contact: Matthijs Smith – Lumos Diagnostics
ir@lumosdiagnostics.com +61 411 137 080 +61 3 9087 1598
Company Registered Office: Lumos Diagnostics Holdings Ltd
Level 4, 100 Albert Rd South Melbourne, VIC 3205 +61 3 9087
1598
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