Biotricity Adds 60-Site, Multi-State Hospital Cardiac Monitoring Pilot Program
Biotricity (Nasdaq: BTCY) has launched a new cardiac monitoring pilot program with a prominent hospital group, covering 60 sites across multiple states. The company's three-channel connected solution offers superior diagnostics, reduced patient risk, and improved workflow efficiency, resulting in better clinical outcomes and lower healthcare costs.
This program positions Biotricity to accelerate the adoption of its products and demonstrates the growing demand for advanced cardiac monitoring solutions. The collaboration aims to validate the benefits of the technology in diverse healthcare settings and refine patient interaction protocols and data collection processes.
With a focus on a $35 billion market opportunity, Biotricity aims to revolutionize cardiac care globally.
- Launch of a new 60-site, multi-state cardiac monitoring pilot program.
- Potential to accelerate product adoption and showcase technology effectiveness.
- Expected to reduce patient risk, enhance clinical outcomes, and lower healthcare costs.
- Increase in provider revenue by five times compared to existing solutions.
- Strategic focus on a $35 billion market opportunity.
- None.
Biotricity’s new cardiac monitoring pilot program for 60 hospital sites across multiple states is a notable development in the medical technology sector. The fact that their solution is the only three-channel connected monitoring system globally sets it apart in a competitive market. This could lead to improved clinical outcomes due to more accurate diagnostics and better patient risk management. For investors, this technological advantage represents a substantial competitive edge that could drive adoption and revenue growth. However, the success of this pilot program will heavily depend on the feedback and integration within the hospitals. If the program demonstrates tangible benefits in clinical settings, it could lead to broader adoption and potentially significant market penetration.
The expansion into a 60-site, multi-state pilot program indicates Biotricity's aggressive growth strategy. This is particularly important for a company in the TaaS sector where scalability and market penetration are key. The claimed increase in provider revenue by
Biotricity's focus on the $35 billion cardiac care market underscores the enormous potential for revenue generation. By entering a pilot program with such a wide geographic reach, the company is not only testing its technology but also gaining insights into diverse market dynamics. This pilot could provide Biotricity with valuable data on customer needs and potential barriers to adoption. Understanding these dynamics is essential for refining their go-to-market strategy and ensuring long-term success. Investors should be attentive to follow-up reports on pilot outcomes and market feedback, as positive results could solidify Biotricity's position as a leader in remote cardiac monitoring.
REDWOOD CITY, CA / ACCESSWIRE / July 10, 2024 / Biotricity Inc. (Nasdaq:BTCY), a Technology-as-a-Service (TaaS) company operating in the remote cardiac monitor sector of consumer healthcare, today announced the launch of a new cardiac monitoring pilot program with a prominent hospital group encompassing 60 sites spread across multiple states.
Biotricity's cardiac monitoring solution is the only three-channel connected solution in the world. This unique technology results in superior diagnostics, reduced patient risk, and enhanced workflow efficiency, providing improved clinical outcomes while lowering overall healthcare costs. Additionally, it significantly increases provider revenue by five times compared to existing solutions, making it an exceptional choice both clinically and financially.
"The addition of this latest pilot program positions us to accelerate adoption of our products and underscores the growing demand for advanced cardiac monitoring solutions," said Dr. Waqaas Al-Siddiq, founder and CEO of Biotricity. "This new pilot program provides us with a significant opportunity to showcase the effectiveness of our technology in diverse healthcare settings. By working closely with the active sites, we aim to refine our approaches and further validate the benefits of our solutions for both patients and healthcare providers. This collaboration is another vital step forward in our strategy to revolutionize cardiac care on a global scale."
Building on the momentum of previous pilot programs, Biotricity will collaborate closely with healthcare professionals at these 60 sites to enhance patient interaction protocols and optimize data collection processes. This latest pilot program aims to demonstrate the transformative potential of Biotricity's advanced technology suite in improving cardiac patient outcomes and streamlining healthcare delivery across a broader geographic region.
With a strategic focus on a
About Biotricity
Biotricity is transforming the healthcare market by bridging the gap in remote monitoring and chronic care management with a focus on cardiology. Physicians and patients trust Biotricity's unparalleled standard for preventive and personal care, including diagnostic and post-diagnostic solutions for chronic conditions. The company develops comprehensive remote health monitoring solutions for the medical and consumer markets. To learn more, visit www.biotricity.com and follow us on Twitter and LinkedIn.
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," "project," or "goal" 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, objectives and goals of management for future operations, including plans, objectives or goals 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 several 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 because 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. There cannot be any assurance that the Company will ever become profitable. The Company assumes no obligation to update any forward-looking statements to reflect any event or circumstance that may arise after the date of this release.
Investor Relations Contacts
SOURCE: Biotricity, Inc.
View the original press release on accesswire.com
FAQ
What did Biotricity announce on July 10, 2024?
How many sites are involved in Biotricity's new pilot program?
What is unique about Biotricity's cardiac monitoring solution?
How does Biotricity's solution benefit healthcare providers?
What market opportunity is Biotricity targeting with its new pilot program?
What are the benefits of Biotricity's new cardiac monitoring solution?
