Viemed Announces Publication of Peer-Reviewed NIVH Study Finding Treatment Reduces Healthcare Costs and Saves Lives
July 05 2022 - 4:15PM
Viemed Healthcare, Inc. (the “Company” or “Viemed”) (NASDAQ:VMD and
TSX:VMD.TO), a national leader in respiratory care and
technology-enabled home medical equipment services, announced a
third peer-reviewed and published study demonstrating the benefits
of non-invasive ventilation at home (“NIVH”). The study, titled
“Early Initiation of Non-Invasive Ventilation at Home Improves
Survival and Reduces Healthcare Costs in COPD Patients with Chronic
Hypercapnic Respiratory Failure: A Retrospective Cohort Study” was
published in Respiratory Medicine, an internationally renowned
scientific journal devoted to respiratory medical research.
“In addition to the significant clinical
benefits demonstrated in previously published papers, this study
demonstrates that NIVH improves health outcomes while
simultaneously driving down overall healthcare costs,” said Dr.
William Frazier, Viemed’s Chief Medical Officer and co-author of
the study. “The study was also designed to investigate how the
timing of NIVH initiation affected the outcomes. The results showed
that the clinical and financial benefits of NIVH are greatest when
therapy begins immediately following the diagnosis.”
Using the 100% research identifiable
fee-for-service Medicare claims from 2016 through 2020, the
researchers found that using NIVH to treat chronic obstructive
pulmonary disease with chronic hypercapnic respiratory failure
(COPD-CRF) is associated with significant reductions in mortality,
hospitalizations, and total Medicare costs. In terms of
cost-savings, Medicare expenditures for the year following NIVH
initiation decreased by $5,484 (11.6%) compared to controls if
treatment was begun within seven days of diagnosis. The cost
reduction was $3,412 (7.2%) if NIVH was begun within 15 days of
diagnosis. For patients whose therapy began more than 15 days after
diagnosis, NIVH use was cost neutral and not associated with an
increase in Medicare expenditures.
The primary clinical benefit was a reduced
mortality in patients treated with NIVH. When a patient began
therapy within seven days of diagnosis, the risk of death was
reduced by 43%. Those patients who began therapy between eight and
15 days following diagnosis showed a mortality reduction of 31%,
and patients who began therapy between 16 and 30 days following
diagnosis showed a mortality reduction of 16%.
“NIVH is becoming widely accepted by clinicians
as the standard of care for hypercapnic COPD-CRF treatment and this
evidence supporting early initiation will help us to communicate
the clinical and economic benefits to payors and partners,” said
Casey Hoyt, Viemed’s CEO. “By accessing and treating more patients
sooner, we can save lives, reduce hospital readmissions, and save
money at the same time.”
The complete text of the study is available
online at
https://www.resmedjournal.com/article/S0954-6111(22)00185-8/fulltext
and in the upcoming print edition of Respiratory Medicine.
ABOUT VIEMED HEALTHCARE, INC.
Viemed is a provider of in-home medical
equipment and post-acute respiratory healthcare services in the
United States. Viemed’s service offerings are focused on effective
in-home treatment with clinical practitioners providing therapy and
counseling to patients in their homes using cutting edge
technology. Visit our website at www.viemed.com.
For further information, please contact:
Glen AkselrodBristol
Capital905-326-1888glen@bristolir.com
Todd ZehnderChief Operating OfficerViemed
Healthcare, Inc.337-504-3802investorinfo@viemed.com
Forward-Looking Statements
Certain statements contained in this press
release may constitute “forward-looking statements” within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995 or “forward-looking information” as such term is defined in
applicable Canadian securities legislation (collectively,
“forward-looking statements”). Often, but not always,
forward-looking statements can be identified by the use of words
such as “plans”, “expects”, “is expected”, “budget”, “potential”,
“scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”,
“believes”, or “projects”, or the negatives thereof or variations
of such words and phrases or statements that certain actions,
events or results “will”, “should”, “may”, “could”, “would”,
“might” or “will be taken”, “occur” or “be achieved” or the
negative of these terms or comparable terminology. All statements
other than statements of historical fact, including those that
express, or involve discussions as to, expectations, beliefs,
plans, objectives, assumptions or future events or performance,
including the anticipated clinical and financial benefits of NIVH
for hypercapnic COPD-CRF patients, are not historical facts and may
be forward-looking statements and may involve estimates,
assumptions and uncertainties that could cause actual results or
outcomes to differ materially from those expressed in the
forward-looking statements. Such statements reflect the Company's
current views and intentions with respect to future events, and
current information available to the Company, and are subject to
certain risks, uncertainties and assumptions. Many factors could
cause the actual results, performance or achievements that may be
expressed or implied by such forward-looking statements to vary
from those described herein should one or more of these risks or
uncertainties materialize. These factors include, without
limitation: the general business, market and economic conditions in
the regions in which the Company operates; the impact of the
COVID-19 pandemic and the actions taken by governmental
authorities, individuals and companies in response to the pandemic
on our business, financial condition and results of operations,
including on the Company's patient base, revenues, employees, and
equipment and supplies; significant capital requirements and
operating risks that the Company may be subject to; the ability of
the Company to implement business strategies and pursue business
opportunities; volatility in the market price of the Company's
common shares; the Company’s novel business model; the risk that
the clinical application of treatments that demonstrate positive
results in a study may not be positively replicated or that such
test results may not be predictive of actual treatment results or
may not result in the adoption of such treatments by providers; the
state of the capital markets; the availability of funds and
resources to pursue operations; reductions in reimbursement rates
and audits of reimbursement claims by various governmental and
private payor entities; dependence on few payors; possible new drug
discoveries; dependence on key suppliers and the recall of certain
Royal Philips BiPAP and CPAP devices and ventilators that we
distribute and sell; granting of permits and licenses in a highly
regulated business; competition; low profit market segments;
disruptions in or attacks (including cyber-attacks) on the
Company's information technology, internet, network access or other
voice or data communications systems or services; the evolution of
various types of fraud or other criminal behavior to which the
Company is exposed; the failure of third parties to comply with
their obligations; difficulty integrating newly acquired
businesses; the impact of new and changes to, or application of,
current laws and regulations; the overall difficult litigation and
regulatory environment; increased competition; changes in foreign
currency rates; increased funding costs and market volatility due
to market illiquidity and competition for funding; critical
accounting estimates and changes to accounting standards, policies,
and methods used by the Company; the Company’s status as an
emerging growth company; and the occurrence of natural and
unnatural catastrophic events or health epidemics or concerns, such
as the COVID-19 pandemic, and claims resulting from such events or
concerns; as well as those risk factors discussed or referred to in
the Company’s disclosure documents filed with the U.S. Securities
and Exchange Commission (the “SEC”) available on the SEC’s website
at www.sec.gov, including the Company’s most recent Annual Report
on Form 10-K and Quarterly Report on Form 10-Q, and with the
securities regulatory authorities in certain provinces of Canada
available at www.sedar.com. Should any factor affect the Company in
an unexpected manner, or should assumptions underlying the
forward-looking statements prove incorrect, the actual results or
events may differ materially from the results or events predicted.
Any such forward-looking statements are expressly qualified in
their entirety by this cautionary statement. Moreover, the Company
does not assume responsibility for the accuracy or completeness of
such forward-looking statements. The forward-looking statements
included in this press release are made as of the date of this
press release and the Company undertakes no obligation to publicly
update or revise any forward-looking statements, other than as
required by applicable law.
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