BioTelemetry, Inc. Announces Newly Published Research Demonstrating Significant Cost Savings With Use of Mobile Cardiac Telem...
December 12 2013 - 8:00AM
BioTelemetry, Inc. (Nasdaq:BEAT), the leading wireless medical
technology company focused on the delivery of health information to
improve quality of life and reduce cost of care, announced that
recently published research from an observational study of more
than 200,000 patients demonstrates significant in-hospital cost
savings in the twelve months following diagnosis using mobile
cardiac telemetry ("MCT").
A retrospective analysis was completed on claims data spanning
57 months and more than 200,000 patients to compare diagnostic
efficacy, therapeutic outcomes and cardiovascular costs incurred in
the hospital setting for patients diagnosed with MCT, Holter and
event devices. Results published in Medical Device: Evidence and
Research demonstrate a significantly higher diagnostic yield in
patients utilizing MCT, at 61%, compared to event, at 23%, and
Holter, at 24%. Therapeutic intervention measured through the
prescription of antiarrhythmic drugs was also substantially higher
in patients monitored with MCT, at 61%, compared to event, at 39%,
and Holter, at 43%. The study's most significant finding was
the level of cost savings per patient in cardiovascular in-hospital
costs when an MCT is used versus either an event or Holter
monitor. The study shows that the substitution of the MCT for
an event or Holter monitor provides a 10 to 15 times return on
investment in the first 12 months post-utilization.
Joseph H. Capper, President and Chief Executive Officer of
BioTelemetry, commented: "With the shift in healthcare payments
from procedure-based to outcomes-based, we are pleased, but not
surprised, with the results of this large scale study. While
the diagnostic superiority of our MCOT technology has been
demonstrated repeatedly through numerous peer-reviewed studies and
abstracts, these prior studies have stopped short of evaluating the
actual cost-benefit of MCOT use resulting from the improved
efficacy and better outcomes. This data provides evidence that
MCOT is a cost beneficial technology that delivers unsurpassed
results to physicians while also reducing overall healthcare
spending. This is one of the few studies to validate real
savings derived from the application of a mobile health
platform. We look forward to sharing this newly released data
with our healthcare partners."
The study, in its entirety, is available at:
http://www.dovepress.com/articles.php?article_id=15238
About BioTelemetry
BioTelemetry, Inc., formerly known as CardioNet, Inc., is the
leading wireless medical technology company focused on the delivery
of health information to improve quality of life and reduce cost of
care. The Company currently provides cardiac monitoring
services, original equipment manufacturing with a primary focus on
cardiac monitoring devices and centralized cardiac core laboratory
services. More information can be found at
www.biotelinc.com.
Cautionary Statement Regarding Forward-Looking
Statements
This document includes certain forward-looking statements within
the meaning of the "Safe Harbor" provisions of the Private
Securities Litigation Reform Act of 1995 regarding, among other
things, the effects of the study, or the Company's ability to
generate additional revenue, the prospects for our products and our
confidence in the Company's future, as well as our expectations
regarding the effect the United contract will have on the company's
operating results. These statements may be identified by
words such as "expect," "anticipate," "estimate," "intend," "plan,"
"believe," "promises" and other words and terms of similar meaning.
Such forward-looking statements are based on current
expectations and involve inherent risks and uncertainties,
including important factors that could delay, divert, or change any
of these expectations, and could cause actual outcomes and results
to differ materially from current expectations. These factors
include, among other things, effects of changes in health care
legislation, effectiveness of our cost savings initiatives,
relationships with our government and commercial payors, changes to
insurance coverage and reimbursement levels for our products, the
success of our sales and marketing initiatives, our ability to
attract and retain talented executive management and sales
personnel, our ability to identify acquisition candidates, acquire
them on attractive terms and integrate their operations into our
business, the commercialization of new products, market factors,
internal research and development initiatives, partnered research
and development initiatives, competitive product development,
changes in governmental regulations and legislation, the continued
consolidation of payors, acceptance of our new products and
services, patent protection, adverse regulatory action, and
litigation success, our ability to successfully create a new
holding company structure and to anticipate the benefits of such
structure. For further details and a discussion of these and
other risks and uncertainties, please see our public filings with
the Securities and Exchange Commission, including our latest
periodic reports on Form 10-K and 10-Q. We undertake no
obligation to publicly update any forward-looking statement,
whether as a result of new information, future events, or
otherwise.
CONTACT: BioTelemetry, Inc.
Heather C. Getz
Investor Relations
800-908-7103
investorrelations@cardionet.com
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