Highmark announces immediate deployment of its remote physiologic monitoring software across a large 10,000 patient plus multi-clinic orthopedic organization in California.
TORONTO, ON / ACCESSWIRE / June 8, 2022 / Highmark Interactive Inc. (TSXV:HMRK), a global leader in digital health technologies, is pleased to announce deployment of its EQ Remote Physiologic Monitoring (RPM) solution within a large multi-clinic orthopedic practice in the Greater Los Angeles area. Building on signing its recent partnership with the United States Orthopedic Alliance (USOA) earlier this year, Highmark is pleased to announce the direct sale of its RPM platform to Urgent Orthopedic Care Inc. demonstrating ongoing traction within the orthopedic surgery market segment.
Urgent Orthopedic Care (UOC), managing over 10,000 patients annually across two large facilities in the greater Los Angeles area, signed with Highmark last week and will begin deployment of Highmark's EQ RPM platform immediately. Due to UOC's size and influence in the management of workplace-injured workers, Highmark's RPM SaaS platform will be priced at a discount to usual market rates generating USD$30/patient/month of monitoring. While practices will vary, after discussions with UOC, Highmark is expecting at least two months of patient monitoring per year across its 10,000 plus patient base generating between USD$60-90/patient/year.
The EQ Remote Monitoring platform enables the physician to monitor a patient's balance before and after surgery and between clinical visits to inform and personalize the patient's treatment plan. Remote physiologic monitoring (RPM) is a recently added reimbursement code by Medicare in the United States with many commercial insurers now also providing reimbursement. Reimbursement requires the use of a medical device and Highmark's EQ Balance is FDA-cleared software as a Medical Device (SaMD) thereby meeting this requirement. Unlike other providers measuring balance, Highmark's proprietary software does not require the patient to purchase any additional expensive or cumbersome hardware. The patient only requires access to a mobile smart device, such as a phone or tablet, and internet connectivity. Highmark's EQ RPM solution is device agnostic and can be downloaded to both Android and Apple operating systems.
In adopting Highmark's EQ Remote Monitoring platform, a typical orthopedic surgeon is anticipated to be able to generate an incremental average of USD$200,000 in revenue annually. Between the announced USOA partnership and direct sales activities, Highmark has built a robust pipeline of practices looking to deploy its RPM software solution and expects to continue signing and deploying across orthopedic clinics and ortho surgery centers over the balance of the year. Not only will this provide Highmark with a clear first mover advantage within this market segment, but it also enables clinics in other verticals (e.g., neurology, primary care) to begin introducing their patients to the concept of RPM without having to make large capital investments in the more traditional and expensive medical devices currently utilized within the RPM market.
"Our remote monitoring platform is capturing critical physiologic parameters that empower 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." says Dr. Sanjeev Sharma, CEO of Highmark, and continues, "Highmark is well on its way to demonstrating outcome and cost benefits to providers, patients and payors, while delivering on its RPM strategy for growth. Despite significant headwinds within the broader macroeconomic environment, healthcare remains somewhat recession resistant, with its technology clearly supported by government and third-party payors within the world's largest health care market."
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 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 350 health organizations 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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SOURCE: Highmark Interactive Inc.