Highmark Interactive's FDA-cleared EQ digital health platform to be deployed through United States Orthopedic Alliance's (USOA) network of physicians, group practices, ambulatory surgery centers and specialty surgery hospitals for physical and therapeutic remote monitoring
TORONTO, ON and LAKE FOREST, CA / ACCESSWIRE / February 3, 2022 / Highmark Interactive Inc. (TSXV:HMRK) ("Highmark"), a global leader in digital health technologies, today announced the roll-out of its EQ Remote Monitoring solution to US Orthopedic Alliance ("USOA"), an organization committed to delivering robust health information technologies and practice management resources to orthopedic-specific group practices, ambulatory surgery centers and specialty surgery hospitals. The EQ Remote Monitoring platform will enable the physician to monitor a patient before and after surgery and between clinical visits to inform and personalize the patient's treatment plan.
"We recognized that Highmark's EQ Remote Monitoring platform can provide our physicians with unique, data-driven insights to support timely, proactiveand personalized care plans," said Rick Salas, CEO of USOA. "We are committed to delivering technologies, like Highmark's platform, to our member physicians to assist them in maximizing physician productivity and optimizing outcomes for all stakeholders - patients, providers and payers."
The ability to better understand how a patient is recovering or progressing on a treatment plan through remote physical monitoring between office or virtual visits delivers insights to health teams that were previously not possible. Such insights enable physicians to develop care plans that can be more personalized to the individual patient.
Remote physiologic monitoring is a recently added reimbursement code by Medicare in the United States. It enables physicians to add remote monitoring to their services to improve patient outcomes. The Highmark EQ Remote Monitoring platform is a mobile application downloaded to a patient's smart device.
In adopting Highmark's EQ Remote Monitoring platform, a typical surgeon is anticipated to be able to generate an additional USD$200,000 in revenue annually, while identifying and addressing concerns earlier that can minimize or prevent significantly more expensive downstream costs.
Highmark's model for orthopedic practices is a hybrid of recurring SaaS revenue with additional per patient use and implementation fees. During the initial USOA roll-out to 15 surgeons, Highmark anticipates generating an annual minimum of USD$50,000 per surgeon. Subsequent expansion of the roll-out to USOA's growing network of more than 100 physicians will generate incremental set-up and recurring fees. The potential addressable market for the EQ Remote Monitoring Solution includes approximately 30,000 orthopedic surgeons in the United States alone.
"Partnering with USOA marks an important milestone in Highmark's focus on expanding within the U.S. market. It is a tremendous validation of our technology, business model and opportunity to partner with more US physician practices for remote monitoring services," said Dr. Sanjeev Sharma, CEO of Highmark Interactive. "The ability to capture important physiologic information about patients between clinic visits has remained elusive until now. Highmark's EQ Remote Monitoring platform captures critical physiologic parameters, empowering both the patient and their clinicians to identify early signs of risk and enable proactive intervention that can materially reduce complications and the total cost of care for the patient."
About US Orthopedic Alliance
US Orthopedic Alliance (USOA) is a national organization focused on empowering independent orthopedic practices to excel. Independent orthopedic practices choose to work with USOA in order to gain advanced and robust orthopedic-specific practice resources and systems. USOA is committed to providing orthopedists with specialty-specific services to manage and grow their practices while enhancing the patient experience. Physician members benefit from USOA's business intelligence solutions, including revenue cycle management, contracting, risk management and value-based care services such as infrastructure, technology and data analytics.
About Highmark Interactive
Highmark Interactive was created to change the paradigm of testing and management for brain and mental health. Highmark's approach is focused on providing real-time data to health providers to support proactive, preventative interventions and targeted care planning to improve health outcomes.
In addition to a growing network of virtual, in-person and hybrid clinics, Highmark Interactive offers the world's first gamified, FDA cleared patient-led assessments as well as digital clinician-led assessments of neurofunction and balance. Together, the technology is used in more than 300 clinics globally.
By unlocking insights, Highmark's platform enables precision medicine and creates a more contemporary model for delivering better outcomes in medical, mental health and rehabilitation services.
Learn more: https://www.highmark.tech/
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Highmark Interactive Inc.
Meehan Business Advisers (for USOA)
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SOURCE: Highmark Interactive Inc.