DocGo Signs Contract in Mississippi with Major Hospital System to Provide Adult and Pediatric Remote Cardiac Monitoring Services

Rhea-AI Summary

DocGo announced that its Cardiac RMS subsidiary has signed a contract with a major Mississippi hospital system to provide remote monitoring services for nearly 3,000 patients with cardiac implantable electronic devices (CIEDs). The service, scheduled to begin in early 2025, marks Cardiac RMS's entry into Mississippi and expands their pediatric customer base.

The initiative aims to address Mississippi's challenges, including high cardiovascular disease rates, specialized care access in rural areas, and healthcare provider shortages. The remote monitoring service will help reduce in-office visits, enable early interventions, enhance clinical efficiency, streamline operations, and reduce hospital readmissions.

Cardiac RMS will monitor various devices including pacemakers, implantable cardioverter-defibrillators, heart failure devices, and implantable loop recorders.

Positive

• Contract secured to monitor nearly 3,000 new patients
• Geographic expansion into Mississippi market
• Extension of services to include pediatric patient base

Negative

• Service implementation delayed until early 2025

Insights

Medical Research Analyst

This contract represents a significant strategic expansion for DocGo's Cardiac RMS subsidiary into Mississippi's healthcare market. The agreement to monitor 3,000 patients with cardiac implantable devices addresses a critical need in a state with high cardiovascular disease rates and healthcare access challenges. Remote cardiac monitoring services can generate consistent recurring revenue streams while reducing operational costs for healthcare providers.

The pediatric service expansion is particularly noteworthy as it demonstrates versatility in patient care capabilities and opens up additional market opportunities. The timing of implementation in early 2025 allows for proper preparation and integration of systems. By helping reduce hospital readmissions and enabling early interventions, this service should positively impact both clinical outcomes and operational efficiency for the hospital system.

Market Research Analyst

This contract signals DocGo's successful execution of its growth strategy in the remote patient monitoring (RPM) sector, which is projected to see substantial growth. The deal strengthens DocGo's position in the southeastern U.S. healthcare market and diversifies its revenue streams. The focus on both adult and pediatric services demonstrates market adaptability and expands the total addressable market.

The recurring revenue nature of remote monitoring services provides predictable cash flows, which investors typically value highly. While specific contract values weren't disclosed, similar monitoring services typically generate $50-100 per patient monthly, suggesting potential annual revenues of $1.8-3.6 million from this contract alone. This expansion into Mississippi also creates opportunities for additional contracts in the region.

NEW YORK--(BUSINESS WIRE)-- DocGo Inc. (Nasdaq: DCGO) ("DocGo" or the "Company"), a leading provider of technology-enabled mobile health services, today announced that its Cardiac RMS subsidiary has signed a new contract with one of the largest hospital systems in Mississippi.

Under the agreement, in early 2025 Cardiac RMS by DocGo is scheduled to begin providing remote monitoring for nearly 3,000 patients with cardiac implantable electronic devices (“CIEDs”). This new contract marks Cardiac RMS’s launch into Mississippi and expands their pediatric customer base – reflecting the company’s ability to provide remote monitoring solutions across all age groups in this new geography.

Mississippi faces high rates of cardiovascular disease, limited access to specialized care in rural areas, and significant healthcare provider shortages that create unique challenges for delivering effective, timely care. Cardiac RMS’s remote monitoring will help reduce the need for frequent in-office visits and enable early interventions that can prevent serious complications, while also enhancing clinical efficiency by helping streamline operations, reduce hospital readmissions, and improve patient outcomes.

“Health systems are increasingly seeking solutions that empower patient-centered care and more effective resource management,” said Lee Bienstock, CEO of DocGo. “By partnering with Cardiac RMS, providers can ensure continuous oversight of cardiac device patients of all ages, helping to prevent complications, reduce hospitalizations, and enhance operational efficiency. This collaboration exemplifies how remote patient monitoring can be a vital component of a modern, proactive, value-based care strategy.”

Cardiac RMS by DocGo will provide continuous remote oversight of patients with CIEDs, including pacemakers, implantable cardioverter-defibrillators, implantable heart failure devices, and implantable loop recorders, which require regular monitoring to ensure proper function and to promptly detect any issues.

Through advanced technology and adaptable services, Cardiac RMS by DocGo continues to elevate the delivery of cardiac care services, helping providers improve outcomes and create seamless patient experiences.

About Cardiac RMS by DocGo

Cardiac RMS LLC is a clinical service partner specializing in remote monitoring of cardiac implantable electronic devices (CIEDs), including pacemakers, defibrillators, implantable loop recorders, and heart failure devices. Services also include Virtual Care Management and Remote Physiologic Monitoring (RPM) to support the treatment of chronic conditions. By enhancing care accessibility and streamlining remote care, Cardiac RMS by DocGo empowers providers to deliver proactive, patient-focused solutions that improve outcomes and reduce costs.

About DocGo

DocGo is leading the proactive healthcare revolution with an innovative care delivery platform that includes mobile health services, remote patient monitoring and ambulance services. DocGo is helping to reshape the traditional four-wall healthcare system by providing high quality, highly accessible care to patients where and when they need it. DocGo's proprietary technology and relationships with dedicated field staff of certified health professionals elevate the quality of patient care and drive business efficiencies for facilities, hospital networks and health insurance providers. With Mobile Health, DocGo empowers the full promise and potential of telehealth by facilitating healthcare treatment, in tandem with a remote physician, in the comfort of a patient’s home or workplace. Together with DocGo’s integrated Ambulnz medical transport services, DocGo is bridging the gap between physical and virtual care. For more information, please visit www.docgo.com. To get an inside look on how the proactive healthcare revolution is helping transform healthcare by reducing costs, increasing efficiency and improving outcomes, visit www.proactivecarenow.com.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, the Company’s plans, strategies, outcomes, and prospects, both business and financial, of the Company, including the provision of services by Cardiac RMS in Mississippi. These statements are based on the beliefs and assumptions of the Company’s management. Although the Company believes that its plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, the Company cannot assure you that it will achieve or realize these plans, intentions, outcomes, results or expectations. Accordingly, you should not place undue reliance on such statements. All statements other than statements of historical fact are forward-looking. In some cases, these statements may be preceded by, followed by or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “might,” “will,” “should,” “could,” “can,” “would,” “design,” “potential,” “seeks,” “plans,” “scheduled,” “anticipates,” “intends” or the negative of these terms or similar expressions. Forward-looking statements are inherently subject to substantial risks, uncertainties and assumptions, many of which are beyond the Company’s control, and which may cause the Company’s actual results or outcomes, or the timing of results or outcomes, to differ materially from those contained in the Company’s forward-looking statements, including, but not limited to the following: the Company’s ability to successfully implement its business strategy, including with respect to the provision of services in Mississippi; the Company’s reliance on and ability to maintain its contractual relationships with its healthcare provider partners and clients; the Company’s ability to compete effectively in a highly competitive industry; the Company’s ability to maintain existing contracts, including Cardiac RMS's new contract to provide services in Mississippi; the Company’s reliance on government contracts; the Company’s ability to effectively manage its growth; the Company’s financial performance and future prospects; the Company’s ability to deliver on its business strategies or models, plans and goals; the Company’s ability to expand geographically; the Company’s competitive position and opportunities, including its ability to realize the benefits from its operating model; and other risk factors included in the Company’s filings with the Securities and Exchange Commission. The forward-looking statements made in this press release are based on events or circumstances as of the date on which the statements are made. The Company undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as and to the extent required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241204874763/en/

Media:

Tommy Meara

Moxie Strategies

718-309-3506

tommy@moxiestrategies.com

Investors:

Mike Cole

DocGo

949-444-1341

mike.cole@docgo.com

ir@docgo.com

Source: DocGo Inc.

FAQ

What is the new contract DocGo (DCGO) signed in Mississippi?

DocGo's Cardiac RMS subsidiary signed a contract with a major Mississippi hospital system to provide remote monitoring services for nearly 3,000 patients with cardiac implantable electronic devices, starting in early 2025.

How many patients will DocGo (DCGO) monitor under the new Mississippi contract?

DocGo will monitor nearly 3,000 patients with cardiac implantable electronic devices (CIEDs) under the new Mississippi contract.

When will DocGo (DCGO) begin its remote monitoring services in Mississippi?

DocGo is scheduled to begin providing remote monitoring services in Mississippi in early 2025.

What types of devices will DocGo (DCGO) monitor in Mississippi?

DocGo will monitor pacemakers, implantable cardioverter-defibrillators, implantable heart failure devices, and implantable loop recorders.