Business
DarioHealth Announces Two Remote Patient Monitoring (RPM) Agreements and Commences Enrollment
Leverages Dario's flexible AI-driven platform to facilitate rapid implementation and potential revenue in 2020 Centers for Medicare & Medicaid Services(CMS)
About this update from Dariohealth Corp.
[{"type":"text","content":"Leverages Dario's flexible AI-driven platform to facilitate rapid implementation and potential revenue in 2020\n Centers for Medicare & Medicaid Services(CMS) recently approved RPM codes for Medicare patients enabling physicians to bill for between patient care which may result in improved patient outcomes and reduced long-term treatment costs\n RPM offering further supports Dario's transition to high-margin, recurring SaaS model targeting B2B2C revenue channels\n\n\nNEW YORK, June 11, 2020 /PRNewswire/ -- DarioHealth Corp. (Nasdaq: DRIO), a pioneer in the global digital therapeutics market, today announced that the company has signed its first two remote patient monitoring (RPM) agreements. Remote patient monitoring will allow treating physicians to continue to be the primary source of medical advice for patients in between office visits, potentially preventing unnecessary and unplanned hospital visits. Dario's RPM product integrates the company's existing open platform, application technology, and the DarioEngage coaching platform to provide physicians, health systems and large provider groups with a turnkey solution to leverage the recently approved remote patient monitoring codes. Effective January 2020, physicians can bill three new CMS approved RPM codes for Medicare members. In addition to improving the quality of care this can provide up to approximately $1,500 per patient per year in revenue to providers.\n\"We are very pleased to have entered into our first two RPM contracts within a couple of months of launching into this entirely new market for us, which we believe demonstrates the value of our solution,\" said Rick Anderson, Dario's President and General Manager for North America. \"We are working to enroll patients as efficiently as possible. In parallel, we continue to build a robust pipeline of additional potential RPM deals, several of which we expect to contribute revenue in the back half of this year.\" \n\"Importantly, our RPM offering supports our ongoing transition to Business-to-Business-to-Consumer (B2B2C) revenue channels that leverage our SaaS delivery model, which we believe yields both high margins and sustainable, recurring revenue, which, as we've said before, is a key pillar of our long-term growth plan and an important metric against which we will measure our future progress. With our flexible, op...