eHealth SaaS Company supporting respiratory health management Respiri Limited (ASX:RSH) has confirmed the enrolment of the first patients into the wheezo Remote Patient Monitoring (RPM) programme.
Although not financially material, this event marks a key milestone in the execution of the Company USA business strategy. Further, it is anticipated that the RPM Current Procedural Terminology (CPT) reimbursement codes for the wheezo RPM programme for such patients will be processed and reimbursed by Centres of Medicare and Medicaid Services (CMS) and other insurers within 45 days, making the wheezo device the first by an Australian MedTech company to be used for monetary reimbursement; another key event.
Respiri anticipates the recently announced major customers Children’s Hospital of Michigan and the Healthcare Organisation based in North Carolina to commence onboarding patients on the wheezo programme in the coming month, further validating the Company USA business strategy.
The wheezo device is uniquely positioned in the large and growing US respiratory disorders RPM market as it provides an easy to use, reproducible and validated wheeze monitoring solution that qualifies for the RPM CPT reimbursement codes enabling doctors to provide and be paid for these services to patients that are widely regarded as key to reducing complications, exacerbations, attacks, hospitalisations and ultimately deaths. These positive health outcomes aim to reduce healthcare costs which is a key driver for all healthcare stakeholders including physicians, hospitals and insurer/payors.
In the US market physicians are not only directly reimbursed for providing RPM services but can, under their supervision, outsource the implementation of these services to third party providers, such as Access Telehealth, a Respiri partner. These US-centric market dynamics help mitigate many obstacles in providing RPM services to patients, which are experienced in other parts of the world, Australia included.
The enrolment of our first patients into the wheezo RPM programme is significant as it confirms physician’s acceptance of our technology and programme as an important component of managing patients with asthma whilst ensuing reimbursement claims in the next month or so further validate our business strategy and model,” CEO and Managing Director of Respiri, Marjan Mikel, said.
“We are also excited at our other major customers’ interest around including wheezo into the care of their patients. We are now well into the US commercialisation phase and expect to scale these programmes and launch many more with other US-based Healthcare Organisations over the coming quarters, again supporting our chosen US business pathway.
“These significant business milestones are results of the effective and rapid execution of our US business strategy developed by Respiri management.
“The partners’ sales pipeline and progress with these interested potential customers remains very encouraging and the Company anticipates announcing more healthcare organisations adopting wheezo RPM programs for their patients and for existing customers to continue to grow the number of patients that they enroll into their existing wheezo RPM programmes.”