MALVERN, Pa., Dec. 12, 2013 (GLOBE NEWSWIRE) -- BioTelemetry, Inc. (Nasdaq:BEAT), the leading wireless medical technology company focused on the delivery of health information to improve quality of life and reduce cost of care, announced that recently published research from an observational study of more than 200,000 patients demonstrates significant in-hospital cost savings in the twelve months following diagnosis using mobile cardiac telemetry ("MCT").
A retrospective analysis was completed on claims data spanning 57 months and more than 200,000 patients to compare diagnostic efficacy, therapeutic outcomes and cardiovascular costs incurred in the hospital setting for patients diagnosed with MCT, Holter and event devices. Results published in Medical Device: Evidence and Research demonstrate a significantly higher diagnostic yield in patients utilizing MCT, at 61%, compared to event, at 23%, and Holter, at 24%. Therapeutic intervention measured through the prescription of antiarrhythmic drugs was also substantially higher in patients monitored with MCT, at 61%, compared to event, at 39%, and Holter, at 43%. The study's most significant finding was the level of cost savings per patient in cardiovascular in-hospital costs when an MCT is used versus either an event or Holter monitor. The study shows that the substitution of the MCT for an event or Holter monitor provides a 10 to 15 times return on investment in the first 12 months post-utilization.
Joseph H. Capper, President and Chief Executive Officer of BioTelemetry, commented: "With the shift in healthcare payments from procedure-based to outcomes-based, we are pleased, but not surprised, with the results of this large scale study. While the diagnostic superiority of our MCOT technology has been demonstrated repeatedly through numerous peer-reviewed studies and abstracts, these prior studies have stopped short of evaluating the actual cost-benefit of MCOT use resulting from the improved efficacy and better outcomes. This data provides evidence that MCOT is a cost beneficial technology that delivers unsurpassed results to physicians while also reducing overall healthcare spending. This is one of the few studies to validate real savings derived from the application of a mobile health platform. We look forward to sharing this newly released data with our healthcare partners."
The study, in its entirety, is available at: http://www.dovepress.com/articles.php?article_id=15238
BioTelemetry, Inc., formerly known as CardioNet, Inc., is the leading wireless medical technology company focused on the delivery of health information to improve quality of life and reduce cost of care. The Company currently provides cardiac monitoring services, original equipment manufacturing with a primary focus on cardiac monitoring devices and centralized cardiac core laboratory services. More information can be found at www.biotelinc.com.
Cautionary Statement Regarding Forward-Looking Statements
This document includes certain forward-looking statements within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995 regarding, among other things, the effects of the study, or the Company's ability to generate additional revenue, the prospects for our products and our confidence in the Company's future, as well as our expectations regarding the effect the United contract will have on the company's operating results. These statements may be identified by words such as "expect," "anticipate," "estimate," "intend," "plan," "believe," "promises" and other words and terms of similar meaning. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including important factors that could delay, divert, or change any of these expectations, and could cause actual outcomes and results to differ materially from current expectations. These factors include, among other things, effects of changes in health care legislation, effectiveness of our cost savings initiatives, relationships with our government and commercial payors, changes to insurance coverage and reimbursement levels for our products, the success of our sales and marketing initiatives, our ability to attract and retain talented executive management and sales personnel, our ability to identify acquisition candidates, acquire them on attractive terms and integrate their operations into our business, the commercialization of new products, market factors, internal research and development initiatives, partnered research and development initiatives, competitive product development, changes in governmental regulations and legislation, the continued consolidation of payors, acceptance of our new products and services, patent protection, adverse regulatory action, and litigation success, our ability to successfully create a new holding company structure and to anticipate the benefits of such structure. For further details and a discussion of these and other risks and uncertainties, please see our public filings with the Securities and Exchange Commission, including our latest periodic reports on Form 10-K and 10-Q. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
CONTACT: BioTelemetry, Inc. Heather C. Getz Investor Relations 800-908-7103 firstname.lastname@example.orgSource:BioTelemetry, Inc.