Join our daily newsletter At The Bell to receive exclusive market insights
- Respiri (RSH) becomes the first Australian company to have its medical device receive reimbursement from Centres of Medicare and Medicaid Services in the US
- The medical device manufacturer can now have its patented wheezo device, used for remote patient monitoring (RPM) programs, receive reimbursement in America for patients who suffer from respiratory disorders
- The program, delivered by Respiri’s partner Access Telehealth, includes patient engagement and monitoring using the Access cloud-based platform, Remotli
- Although not currently financially material, the company says this event marks a key milestone in the execution of the company’s US business strategy
- Respiri is down 4 per cent, trading at 4.8 cents at 1:51 pm AEDT
Respiri (RSH) has become the first Australian company to have its medical device receive reimbursement from Centres of Medicare and Medicaid Services in the US.
The medical device manufacturer can now have its patented wheezo device, used for remote patient monitoring (RPM) programs, receive reimbursement in America.
The RPM program, delivered by Respiri’s partner Access Telehealth, includes patient engagement and remote monitoring using the Access cloud-based platform, Remotli.
Although not currently financially material, the company said this event marks a key milestone in the execution of the company’s US business strategy.
Respiri currently generates monthly recurring revenues per patient when the wheezo RPM program is delivered and reimbursed by CMS, in addition to device sales.
“Receiving first reimbursement revenues for wheezo RPM in the US is a major commercialisation milestone for the company,” Respiri CEO Marjan Mikel said.
“We are also proud to be the first Australian eHealth company whose device has been prescribed by physicians for RPM and successfully reimbursed.
“We continue to focus our efforts on scaling up operations to engage with and gain acceptance of the wheezo RPM product from both existing and new medical institutions by offering a new standard of care in the US medical industry.”
The wheezo medical device is currently being used by 20 patients across several medical institutions which have engaged with Access Telehealth to use the wheezo RPM program for patients who suffer from respiratory disorders, including asthma and chronic obstructive pulmonary disease (COPD).
These numbers are expected to continue to grow as the wheezo RPM program gains traction in the US, with a further 500 patients already identified for onboarding in the short term.
Respiri was down 4 per cent, trading at 4.8 cents at 1:51 pm AEDT.
