REDWOOD CITY, Calif., Nov. 29, 2017 (GLOBE NEWSWIRE) -- Biotricity Inc. (OTCQB:BTCY), a medical diagnostic and consumer healthcare technology company dedicated to delivering innovative, biometric remote monitoring solutions, affirms that the rise of chronic disease necessitates a new care management paradigm. The company is developing remote patient monitoring (RPM) solutions that could help ease the healthcare burden while simultaneously improving patient outcomes.
According to the Centers for Disease Control and Prevention (CDC), chronic diseases are responsible for 7 of 10 deaths, and account for 86% of our nation’s healthcare costs. Today, patients with chronic conditions, such as heart disease and diabetes, are not benefiting from optimal treatment. Chronic conditions are slow to develop and long lasting; unlike acute conditions, direct medical intervention in the form of a hospital stay is only necessary during a health crisis. Hospitals and clinics face tremendous resource shortages, and consequently there is little patient-physician interaction and long gaps between follow-up. With RPM solutions, healthcare providers can ensure that their patients benefit from early intervention by catching vital changes, adjusting treatment plans in real-time, and detecting problems before they become serious.
“If healthcare providers implemented RPM technology that could record a patient’s basic metrics and symptoms in real-time over a longer period, they could start building a holistic overview of a patient’s chronic health condition,” said Waqaas Al-Siddiq, Biotricity Founder and CEO. “They could also benefit from valuable insights such as the morphology and progression of a chronic disease, which are difficult to realize without proper data.”
RPM solutions could further improve patient outcomes by increasing patient adherence through engagement. Such solutions encourage patients to actively manage their own chronic health conditions by offering real-time, precise, clinically relevant data that is easy to understand and that supports lasting behavioral change through ongoing feedback.
Biotricity recently announced its support of progressive changes in telemedicine healthcare policy, which points to a shift in healthcare towards remote patient monitoring at the federal and state levels. The U.S. House of Representatives and Senate are currently considering two new bills (MTPA and CONNECT) that look at reducing the restrictions that the Centers for Medicare & Medicaid Services (CMS) currently has on telemedicine coverage. If passed, the two bills will expand the services eligible to be offered via telehealth. CMS recognizes the value of RPM for healthcare and recently released new payment rules that will give mHealth technology a better shot at reimbursement. Biotricity’s RPM device platform aligns with telemedicine and can be integrated with telehealth solutions. Its flagship product, the Bioflux solution, is a remote patient monitoring device that assists in the diagnosis of heart conditions.
“Remote patient monitoring solutions that can slip into a physician’s workflow and offer constant relevant data that creates engaged patients will truly improve patient-physician relationships, drive down costs, and realize better health outcomes,” said Al-Siddiq.
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About Biotricity Inc.
Biotricity is a modern medical technology company focused on delivering innovative, remote biometric monitoring solutions to the medical and consumer markets, including diagnostic and post-diagnostic solutions for chronic conditions and lifestyle improvement. Biotricity’s R&D continues to focus on the preventative healthcare market, with a vision of putting health management into the hands of the individual. The company aims to support the self-management of critical and chronic conditions with the use of innovative solutions to ease the growing burden on the healthcare system. To learn more, visit www.biotricity.com.
Important Cautions Regarding Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words “may,” “should,” “would,” “will,” “could,” “scheduled,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “seek,” or “project” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements may include, without limitation, statements regarding (i) the plans and objectives of management for future operations, including plans or objectives relating to the design, development and commercialization of Bioflux or any of the Company’s other proposed products or services, (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, capital structure or other financial items, (iii) the Company's future financial performance, (iv) the regulatory regime in which the Company operates or intends to operate and (v) the assumptions underlying or relating to any statement described in points (i), (ii), (iii) or (iv) above. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company's inability to obtain additional financing, the significant length of time and resources associated with the development of its products and related insufficient cash flows and resulting illiquidity, the Company's inability to expand the Company's business, significant government regulation of medical devices and the healthcare industry, lack of product diversification, existing or increased competition, results of arbitration and litigation, stock volatility and illiquidity, and the Company's failure to implement the Company's business plans or strategies. These and other factors are identified and described in more detail in the Company's filings with the SEC. The Company assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
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