The Peer-Reviewed Publication Demonstrates the Potential
Economic Benefits of the PrecisionCHD™ Test for the Detection and
Management of Coronary Heart Disease, which is One of the Largest
Cost Centers for Public and Private Payers.
Cardio Diagnostics Holdings, Inc. (Nasdaq: CDIO), a leader in
the next generation of precision cardiovascular medicine
technologies that combine proprietary AI algorithms with epigenetic
and genetic biomarkers, today announced the publication of results
from a budget impact modeling study for PrecisionCHD™, the
Company’s AI-powered multiomic coronary heart disease detection
test. The peer-reviewed study “The Use of Precision Epigenetic
Methods for the Diagnosis and Care of Stable Coronary Heart Disease
Reduces Healthcare Costs” published in Advances in Therapy,
reported that the use of PrecisionCHD can significantly reduce the
cost of secondary prevention for stable coronary heart disease
(CHD) by up to $113.6 million per year for a typical health
insurance plan with one million members.
PrecisionCHD is an AI-powered multiomic DNA test using
epigenetic and genetic biomarkers to aid in the detection of stable
CHD. This blood-based test evaluates six DNA methylation and ten
genetic biomarkers and uses a proprietary machine learning model to
interpret the genetically contextual methylation signals from these
biomarkers. The sensitivity and specificity of this test are 79%
and 76%, respectively, with the clinical validation study in
collaboration with Intermountain Healthcare and University of Iowa
Hospitals and Clinics being recently published in the Journal of
American Heart Association.
The PrecisionCHD budget impact model was designed to evaluate
the cost savings associated with using PrecisionCHD as the primary
method of initial CHD assessment in place of current commonly used
tests such as exercise electrocardiograms, coronary computed
tomography angiography (CCTA), and angiograms. The model considered
factors such as the number of tests performed, the cost of each
test, and the impact of test results on treatment decisions. The
results suggest that using PrecisionCHD could lead to significant
cost savings for payers, with an estimated $113.6 million saved per
year for a plan with one million members. These savings are
primarily driven by the lower cost of PrecisionCHD compared to
traditional tests and the reduced need for additional testing. The
model also found that the cost savings were not sensitive to
patient demographics, or insurance plan design, with similar
results being observed for plans that exclude Medicare enrollees,
only include Medicare enrollees (Part B or Medicare Advantage),
offer large co-insurance rates, and offer larger co-pays.
“The data from this study suggests that the broader use of
PrecisionCHD as the initial test for detecting coronary heart
disease can yield significant savings to payers," said David
Frisvold, PhD, Associate Professor in the Department of Economics
at the University of Iowa and lead author of this study. “More
importantly, the reported cost savings were shown to be
generalizable to various health plans, potentially leading to
increased access to care and improved outcomes for patients with
CHD.”
PrecisionCHD was recently awarded the Current Procedural
Terminology (CPT) Proprietary Laboratory Analyses (PLA) code,
0449U, by the American Medical Association that went effective on
April 1, 2024. PrecisionCHD was also awarded the Innovation
Technology contract from Vizient, the nation’s largest group
purchasing organization, whose customer base encompasses over 60%
of hospitals and 97% of academic medical centers in the United
States.
The Multimodal Delivery of PrecisionCHD Could Further
Increase Access to Earlier CHD Detection for Patients and
Potentially Drive Larger Cost Savings for Payers
Heart disease remains the leading cause of death among Americans
and one of the largest cost centers for payers. If the barriers to
obtaining early cardiovascular care persists, the prevalence and
costs associated with heart disease are only likely to increase.
Currently, exercise electrocardiogram, CCTA and single photon
emission computed tomography (SPECT) are some of the initial tests
used to diagnose CHD. These tests are resource intensive, and
require expensive infrastructure and specialized personnel,
creating inherent barriers to broader adoption especially in rural
America. The continued reliance on these tests as the initial
testing mode for CHD diagnosis could mean that more Americans are
receiving earlier testing and care, potentially leading to higher
costs for payers. Some of the current tests also have risks
associated with being exposed to radiation and contrast dyes that
could affect the health of the patient long term and the cost
incurred by payers.
In contrast, PrecisionCHD is a blood-based test that could serve
as a more cost efficient, highly scalable, and less resource
intensive alternative for initial CHD detection testing. Its highly
sensitive and specific performance minimizes the likelihood of
false positives and negatives, potentially decreasing the need for
costly follow up tests and procedures. PrecisionCHD can be
implemented fully virtually via telemedicine and at-home blood
sample collection, can be deployed in community settings via a
mobile health clinic or in a more traditional provider setting.
This multimodal delivery approach is a win-win with broader access
for patients and potential additional cost savings for payers with
earlier detection and management of CHD. Furthermore, PrecisionCHD
not only undercuts the expenses associated with conventional tests
like CCTA and angiograms but also avoids the risks related to
radiation and contrast dyes found in many imaging procedures by
providing a cost-effective alternative for initial CHD diagnosis.
This reduces potential costs tied to managing side effects.
"We believe that PrecisionCHD has the potential to revolutionize
how coronary heart disease is diagnosed and managed," said Robert
Philibert, MD, PhD, Chief Medical Officer and Co-Founder of Cardio
Diagnostics, and the senior author of the study. "We are confident
that PrecisionCHD will drive value for many healthcare stakeholders
including the patient, provider and payer."
Optimizing Cost-Efficiency Among Payers and Provider-Led
Health Plans
Health plans increasingly prioritize precision medicine
solutions to enhance patient outcomes and optimize cost-efficiency,
reflecting an industry-wide transition from personalized to
precision medicine. This evolution is underpinned by integrating
genomic, clinical, and socio-economic data, enabling healthcare
providers to customize treatment approaches and advance therapeutic
innovation. Similarly, provider-led health plans, face the same
challenges in optimizing patient care while reducing unnecessary
medical spend.
PrecisionCHD stands out as an instrumental resource for health
insurers and healthcare providers aiming to streamline the
management and financial burden of CHD. As health systems
increasingly adopt value-based care (VBC) models, the focus
intensifies on achieving superior patient outcomes and improved
population health while maintaining cost-effectiveness. Throughout
2023, the expansion and refinement of VBC models have underscored a
concerted effort among healthcare providers, payers, and
policymakers to enhance patient care and manage expenses
effectively.
This strategic alignment with VBC frameworks highlights the
significant role of tools like PrecisionCHD. These tools support
targeted, data-driven decisions in CHD treatment and management,
potentially revolutionizing approaches to healthcare delivery and
cost management.
About Cardio Diagnostics
Cardio Diagnostics is an artificial intelligence-powered
precision cardiovascular medicine company that makes cardiovascular
disease prevention, detection, and management more accessible,
personalized, and precise. The Company was formed to further
develop and commercialize clinical tests by leveraging a
proprietary Artificial Intelligence (AI)-driven Integrated
Genetic-Epigenetic Engine ("Core Technology") for cardiovascular
disease to become one of the leading medical technology companies
for improving prevention, detection, and treatment of
cardiovascular disease. For more information, please visit
www.cardiodiagnosticsinc.com.
Forward-Looking Statements
Certain statements and information included in this press
release constitute "forward-looking statements" within the meaning
of the Private Securities Litigation Act of 1995. When used in this
press release, the words or phrases "will", "will likely result,"
"expected to," "will continue," "anticipated," "estimate,"
"projected," "intend," "goal," or similar expressions are intended
to identify "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements
are subject to certain risks, known and unknown, and uncertainties,
many of which are beyond the control of the Company. Such
uncertainties and risks include but are not limited to, our ability
to successfully execute our growth strategy, changes in laws or
regulations, economic conditions, dependence on results are
discussed in the Current Report on Form 10-K for the period ended
December 31, 2023, under the heading "Risk Factors" in Part I, Item
IA thereof, and other documents filed from time to time with the
Securities and Exchange Commission. Such factors could materially
adversely affect the Company's financial performance and could
cause the Company's actual results for future periods to differ
materially from any opinions or statements expressed within this
press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20240429268074/en/
Investors: Gene Mannheimer Investor Relations 855-226-9991
investors@cardiodiagnosticsinc.com
Media & Public Relations: Khullani Abdullahi 855-226-9991
pr@cardiodiagnosticsinc.com
Cardio Diagnostics (NASDAQ:CDIO)
過去 株価チャート
から 10 2024 まで 11 2024
Cardio Diagnostics (NASDAQ:CDIO)
過去 株価チャート
から 11 2023 まで 11 2024
