ALR Technologies Inc. Release: Proposed CMS Rules Present ALRT With Significant New Market Opportunities For Remote Monitoring Of Patients With Chronic Conditions
Published: Jul 11, 2014
RICHMOND, VA--(Marketwired - July 10, 2014) - ALR Technologies (OTCQB: ALRT) a medical device company providing remote monitoring and care facilitation for patients with chronic conditions, welcomes proposed Centers for Medicare and Medicaid Services (CMS) rules for remote monitoring of patients with chronic conditions.
Beginning next year, primary care physicians and others could begin billing separately for chronic care management (CCM) services if the Physician Fee Schedule (PFS) proposed by the Centers for CMS is adopted. These changes in the Medicare fee-for-service program have the potential to create generous new incentives for telemedicine companies that specialize in remote monitoring of patients with chronic conditions.
CMS announced the proposed rule containing updates to the PFS July 3. The full proposed rulemaking changes can be found here: http://www.ofr.gov/OFRUpload/OFRData/2014-15948_PI.pdf.
"For the first time, CMS is proposing reimbursement criteria in the Medicare fee-for-service program for non-face-to-face CCM services," said Bill Smith, President of ALR Technologies. These services are defined as a unique, covered service designed to pay separately for non-face-to-face care coordination services furnished to Medicare beneficiaries with two or more chronic conditions. CMS proposes a payment rate of $41.92 per month per qualified patients effective January 1, 2015.
The Medicare-eligible diabetes population is expected to rise to 14.6 million by 2034.
According to data from the American Diabetes Association the estimated total health cost related to diabetes is about $245 billion. As of 2011, one out of every three Medicare dollars is spent on diabetes.
"These changes represent a significant opportunity for improving health outcomes for millions of Americans with diabetes," said Sidney Chan, CEO of ALRT. "The complications that result from inadequately managing diabetes can be measured in the enormous pain and suffering of patients and unnecessary costs for the healthcare system. Numerous clinical trials have shown that these complications can be mitigated through intensive blood glucose management. The rule changes proposed by CMS will encourage the type of patient management which will improve outcomes and help contain costs."
About ALR Technologies Inc.
ALR Technologies is a medical device company providing remote monitoring and care facilitation for patients with chronic conditions. ALRT has developed the FDA-cleared and HIPAA compliant Health-e-Connect System that collects data from blood glucose meters and uploads to a secure website. Trained Facilitators use the System to effect efficiency of care among patients, clinicians and caregivers to improve outcomes and assist health plans to optimize their quality goals. Currently, the Company is focused on diabetes and will expand its services to cover other chronic conditions anchored on verifiable data. More information about ALR Technologies, Inc. can be found at www.alrt.com.
ALR Technologies is active in providing articles, videos and information on diabetes via social media. ALR Technologies can be found on Facebook at: https://www.facebook.com/ALRTechnologies and on Twitter at: https://twitter.com/ALRTechnologies.
This release contains certain "forward-looking statements" relating to ALR Technologies' business, and these statements reflect the current views of ALR Technologies with respect to future events and are subject to certain risks, uncertainties and assumptions. When used, the words "estimate", "expect", "anticipate", "believe" and similar expressions are intended to identify such forward-looking statements. There are many factors that could cause the actual results, performance or achievements of ALR Technologies and its products to be materially different from any future results, performances or achievements that may be expressed or implied by such forward-looking statements. Further management discussions of risks and uncertainties can be found in the company's quarterly filings with the Securities Exchange.
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