Category "Press Releases"

According to a 2018 report published by the Center for Managing Chronic Disease at the University of Michigan, more than 50% of the global population currently lives with some form of chronic disease.

In the US, the cost burden related to such long-term clinical conditions has been estimated to be approximately 86% of the USD 3.2 trillion that is spent by the country on healthcare, each year.

The Centers for Medicare & Medicaid Services (CMS) is part of the U.S. Department of Health and Human Services. CMS oversees many federal healthcare programs, including those that involve health information technology.  These kind of chronic care cost projections explains why CMS is pushing so much money towards these challenges in an effort to reduce overall costs including new payment codes to incentivize adoption.

The Vitals360 is uniquely positioned to not only help reduce these overall costs through monitoring and using collected data to provide better care, but also financially reward Doctors and Health Networks that champion these solutions.

Furthermore, according to the industry report: Digital Health Market:Focus on Digital Therapeutic, Monitoring and Diagnostic Solution, 2018-2030:

  • Chronic disorders, such as diabetes, heart disease, obesity, mental health problems and insomnia, are considered to be the leading causes of death and disability across the world.
  • The market for digital therapeutics is expected to grow at a CAGR of 19.7% between 2018 and 2030.
  • North America (primarily the US) and Europe currently capture the largest share (close to 75%) of the overall digital health solutions market.

Learn more: https://www.researchandmarkets.com/publication/mwv8agj/4615155

We are very pleased to report that since January our capital campaign has raised $930,000 USD, and another $120,000 USD is currently processing.  This brings us to 53% of our goal.  We appreciate the support from both our existing investors and new investors.  We will continue to share information around our marketing efforts, industry news, and other updates that the executive team at VoCare find relevant on this new Press Releases section of our website located under the About Us tab.

 

The Centers for Medicare and Medicaid Services (CMS) officially approved three new billing codes for Remote Patient Monitoring (RPM).  Announced in November 2018, the new codes came into effect January 1, 2019.

With these new reimbursement codes, physicians are incentivized to drive more health care to the home, and leverage technology like VoCare’s Vitals360 device.

The new codes will reimburse physicians for the initial set-up and education of the patient on the new RPM equipment, as well as monthly reimbursements towards device transmission services and monthly monitoring/treatment.  This structure closely mirrors the Vitals360 business model.

The specific codes are:

  • CPT code 99453: Initial setup. Pays approximately $21. “Remote monitoring of physiologic parameter(s) (e.g., weight, blood pressure, pulse oximetry, respiratory flow rate), initial; set-up and patient education on use of equipment.”
  • CPT code 99454: Device/transmission fee. Pays approximately $69 per month. “Remote monitoring of physiologic parameter(s) (e.g., weight, blood pressure, pulse oximetry, respiratory flow rate), initial; device(s) supply with daily recording(s) or programmed alert(s) transmission, each 30 days.”
  • CPT code 99457: Monitoring and treatment. Pays approximately $53 per month for 20 minutes of time spent viewing data and communicating with patients. “Remote physiologic monitoring treatment management services, 20 minutes or more of clinical staff/physician/other qualified healthcare professional time in a calendar month requiring interactive communication with the patient/caregiver during the month.

CPT 99457 allows RPM services to be performed not only by the physician or qualified healthcare professional, but also by “clinical staff,” such as: RNs and medical assistants. This could make it easier for healthcare providers to figure RPM programs into their workflow.

Moreover, these codes can be combined with chronic care management services (CCM), which have been active for a few years. The combined utilization of these codes provides a mechanism that family medicine providers can use to monitor and engage with patients, and to help them more efficiently manage their chronic conditions, while getting reimbursed, providing a new mechanism that innovative and savvy physician practices may be able to use to increase their quality metrics while also increasing the near term profitability of their practices.

Why is CMS doing this?
While this new mechanism creates an enormous new financial opportunity for certain types of providers (e.g. primary care providers), the new billing codes are expected to help reduce overall medical spending as a whole.

The Design and Architecture of the Vitals360 is a collaborative effort with key stakeholders throughout the Health Care System in the United States.

Here is what some of America’s leading doctors had to say about the VoCare Vitals360:

“Technology is playing a major role in the current medical revolution. Most patients would rather receive their medical care in the privacy of their home, or at a time during the day that is most convenient for their schedule. As a result, patients are more frequently being cared for outside of a tradition medical facility. With that in mind, the Vitals360 was designed around a new  patient-focused care model. The Vitals360 allows for a patient-provider partnership in caring for some of the costliest and most debilitating illness, including congestive heart failure, diabetes, emphysema/COPD, abnormal heart rhythms and hypertension. As the World’s first fully connected 6-in-1 medical device, the Vital360 is essential for remote patient monitoring and delivery of care in a very simple fashion.”

Deon W. Vigilance, MD, MBA, Chief of Cardiothoracic Surgery, Mercy Health System (Trinity Health Mid-Atlantic)
“VoCare’s Vitals 360 is an ideal device for specialists who manage patients with cirrhosis and complex medical needs. It is critical for a team-based health care delivery and would enable us to provide comprehensive and continuous medical care to our patients.  It truly embraces the concept of a patient-centered medical home and enhance our ability to obtain maximal health outcomes. This approach is easily scalable to any other disorder with complex medical needs. “
Raj Vuppalanchi, MD, Director of Hepatology, Indiana University School of Medicine
“I am excited not only by the robust capability but even more so by how easy this product is to deploy. I can literally hand one to a patient in the office and that day they can be transmitting me the things I need to help manage common chronic conditions.”
Ben H. Park MD, CEO of American Health Network

“The Vitals360 from VoCare is a gamechanger in healthcare. The compact, all-in-one device can measure heart rate, oxygen saturation, blood pressure, temperature, ECG rhythm and blood glucose. The ability of the device to record and store the data as well as transmitting it to a cloud based database and to a healthcare professional’s EHR provides significant value to the patient, the Healthcare team and the Payors. The patient can make the series of vital measurements as frequently as needed without having to schedule and be transported to the clinical laboratory or physician’s office. The healthcare professional can have immediate access to evaluate and monitor the measurements and trends with the ability to detect critical changes much earlier than possible with traditional office or ER visits. Both of these will provide significant cost savings for the payors and the patients as well as society.The Vitals360 is a win-win-win for patients, healthcare providers and private/government payors.”

James H. Anderson Jr, MD, FACE

“The Vitals360 from VoCare is a revolutionary device both for monitoring general health conditions and also for post-operative care of patients. This device will allow physicians and physician surgeons to monitor patients and their conditions remotely via telemedicine. This could be a great cost savings to postoperative patients who have the obligation to travel several hours for a short five or 10 minute post-operative visit. The patient’s blood pressure, temperature, blood glucose, body weight and condition of the operative site can all be monitored remotely.The Neurovascular status and the condition of the patients dressing and real time instructions can be given to patients with the Vitals360 device. This is a huge complement to today’s precision medicine.”

Sanford S. Kunkel, MD, OrthoIndy 

We are very pleased to report that in the first few weeks of our capital campaign we have raised $600,000 USD, and another $100,000 USD is currently processing.  This brings us to 35% of our goal.

We appreciate the support from both our existing investors, and new investors.  We will continue to share information around our marketing efforts, industry news, and other updates that the executive team at VoCare find relevant.

Remote Patient Monitoring, or RPM, is a key vertical for VoCare. Given the fact the the Vitals360 is the only device of it’s kind, and that it has single mode and point of care mode, we expect it will play very well in this space.

https://www.researchandmarkets.com/publication/mggilz8/4479452

“The remote patient monitoring market is expected to reach US$31.326 billion by the end of 2023, increasing from US$15.871 billion in 2017, growing at a CAGR of 12% during the forecast period. Remote patient monitoring makes use of digital technologies to collect medical and various other forms of health data and transmit them to a healthcare provider. The data can be collected at patient’s residence, thus avoiding the nursing and hospitalization cost.

The market for remote patient monitoring witnessed significant growth in recent years owing to rise in disposable incomes and increasing demand from an aging population. Availability of technologically advanced products, the budding prevalence of chronic diseases, government support in various countries and rising awareness regarding the benefits of remote patient monitoring are the major factors driving the demand for these systems. Asia- Pacific is expected to witness significant growth over the projected period, attributable to rising healthcare expenditure and an increase in disposable income over the forecast period.”
Continue reading…

This month, Qualcomm Incorporated, the world’s leader in 3G and next-generation mobile technologies, showcased the VoCare Vitals360 at the Consumer Electronics Show(CES) in Las Vegas.

The Vitals360 was so well received at CES, and created so much discussion, that Qualcomm has asked to showcase the device at the Mobile World Congress in Barcelona at the end of February.

Consumer technologies from around the world gather annually at the CES as a proving ground for innovators and cutting edge technologies.  CES is known worldwide as “for 50 years – the global stage where next-generation innovations are introduced to the marketplace.”

Here is your insider’s peek into the CES presentation, showcased by Qualcomm Incorporated.

Company Name: VoCare
Product Name: Vitals360
QC Technology: Qualcomm® Snapdragon Wear™ 2100 (Qualcomm MSM8909)

PRODUCT DESCRIPTION:

The VoCare Vitals360 collects 6 different health vitals utilizing 4G LTE high-speed wireless technology for data transmission, without the need for separate peripherals or an external hub. The VoCare Vitals360 exclusively utilizes Qualcomm chipsets, which allow the device to be used with virtually any wireless carrier worldwide. The size of an iPhone, with a generous touchscreen, the VoCare Vitals360 is the first and only device that can be used for Point-of-Care and Remote Patient Monitoring. Additionally, it is used in both segments of the Remote Patient Marketing market: Home Healthcare as well as Chronic Care Management.

The VoCare platform leverages one connected device to empower management of multiple chronic conditions such as diabetes, congestive heart failure (CHF), chronic obstructive pulmonary disease (COPD), and hypertension while providing the following health measurements: (1) Blood Glucose; (2) Blood Pressure; (3) Pulse; (4) Pulse Oximetry; (5) Temperature, and (6) Electrocardiography (ECG).

In summary, the VoCare solution is comprised of the world’s first multi-diagnostic connected device, the Vitals360, blood glucose strips, and service offering, which includes interoperability hub, patient-provider portal, and 4G LTE.

If you have any questions please feel free to call me or book a time with myself or our CFO/COO, John Coccimiglio.

We completed a soft launch of our investment site over the holidays and have already raised $300,000 and another $100,000 is currently processing.  This brings us already to 20% of our goal!

Now that we are up and running we will begin to share share information around our marketing efforts, industry news, and other updates that the executive team at VoCare find relevant.

If you’d like to discuss, please feel free to book a call with either myself or our CFO/COO, John Coccimiglio.

VoCare © 2017

Translate »