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Problem Tech Solves
Tech Brief
Despite being mandatory (1A) per medical guidelines since 2015 and a 15 million growing patient population across Europe and the US, the adoption of cardiac implant telemonitoring remains low at 10% and 30% respectively. The tsunami of data and improper care management lead to clinician burnout, liability issues, financial loss, and deficient patient care outcomes. On top of it, Heart failure (HF), a severe chronic condition involving 50% of implanted patients, has a 50% mortality rate within 4 years and costs nearly $30B in 2012 in the US alone.
Tech Differentiators
Implicity is the only company that has the same data quality management level as that of manufacturers. We are the only multi-vendor CRM platform collecting over 240 datapoints from patients with a cardiac implant, allowing greater time efficiency for medical teams to monitor patients and significant improvement in patient care outcome. Our unique dataset allows Implicity to offer features such as the first FDA-cleared algorithm that filters device false positives to improve arrhythmia detection and an automated patient facing system to increase patient engagement and care. Implicity can leverage its distinctive database to support multi-centric clinical trials and develop an utter AI-based predictive scoring system to improve the management of chronic heart failure.
Validation
Implicity has a SaaS business model and charges a subscription per patient per year. Our clients range from private practices to larger academic hospitals. The cost of our platform is less than 10% of the reimbursement that providers can claim from payers such as Medicare. Implicity charges an additional monthly fee per eligible patient for its FDA-cleared AI solution. Given the efficiency of our billing tool and considering a national billing capture average of 20%, our clients can expect an increase in revenue of 300% and a break-even in less than a month with Implicity. Clinically, Implicity estimates to reduce more than ¾ the remote monitoring workload of medical teams and increase by half patient engagement for better quality of care. In addition, studies show that an effective remote monitoring service reduce by 38% mortality rate within a year.
