Innovation Value Institute Analysis Demonstrates HeartSciences’ MyoVista® wavECG™ Potential to Improve Cardiovascular Pathway Efficiency
HeartSciences (NASDAQ: HSCS) announced an analysis by the Innovation Value Institute (IVI) demonstrating the potential of their MyoVista® wavECG™ to improve cardiovascular pathway efficiency. The study, focused on prescreening patients for echocardiographic examinations related to left ventricle (LV) function at an NHS hospital, showed that 49.5% of LV function test queries could potentially be eliminated from the waitlist.
Duncan Sleeman, a senior lecturer in Cardiac Physiology, stated that the MyoVista wavECG could revolutionize the management of LV function query echo referral waitlists by identifying patients who don't require further cardiology intervention. Andrew Simpson, CEO of HeartSciences, emphasized that improving cardiovascular care pathway efficiency is a key goal for their AI-ECG technology.
HeartSciences (NASDAQ: HSCS) ha annunciato un'analisi condotta dall'Innovation Value Institute (IVI) che dimostra il potenziale del loro MyoVista® wavECG™ per migliorare l'efficienza del percorso cardiovascolare. Lo studio, incentrato sulla prescreening dei pazienti per esami ecocardiografici relativi alla funzione del ventricolo sinistro (LV) in un ospedale NHS, ha mostrato che il 49,5% delle richieste di test sulla funzione LV potrebbero potenzialmente essere eliminate dalla lista d'attesa.
Duncan Sleeman, docente senior in Fisiologia Cardiaca, ha dichiarato che il MyoVista wavECG potrebbe rivoluzionare la gestione delle liste d'attesa per i rinvii ecografici relativi alle richieste di funzione LV identificando i pazienti che non necessitano di ulteriori interventi cardiologici. Andrew Simpson, CEO di HeartSciences, ha sottolineato che migliorare l'efficienza del percorso di cura cardiovascolare è un obiettivo chiave per la loro tecnologia AI-ECG.
HeartSciences (NASDAQ: HSCS) anunció un análisis del Innovation Value Institute (IVI) que demuestra el potencial de su MyoVista® wavECG™ para mejorar la eficiencia de los caminos cardiovasculares. El estudio, enfocado en la preselección de pacientes para exámenes ecocardiográficos relacionados con la función del ventrículo izquierdo (LV) en un hospital del NHS, mostró que el 49.5% de las consultas de pruebas de función LV podrían ser eliminadas de la lista de espera.
Duncan Sleeman, profesor senior de Fisiología Cardíaca, declaró que el MyoVista wavECG podría revolucionar la gestión de las listas de espera para referencias ecocardiográficas de consultas sobre la función LV al identificar a los pacientes que no requieren una intervención cardiológica adicional. Andrew Simpson, CEO de HeartSciences, enfatizó que mejorar la eficiencia del camino de atención cardiovascular es un objetivo clave para su tecnología AI-ECG.
HeartSciences (NASDAQ: HSCS)는 Innovation Value Institute (IVI)가 수행한 분석을 발표하며, 그들의 MyoVista® wavECG™가 심혈관 경로 효율성을 개선할 잠재력이 있음을 보여주었습니다. 이 연구는 NHS 병원에서 좌심실(LV) 기능과 관련된 심초음파 검사를 위한 환자 사전 선별을 중심으로 진행되었으며, LV 기능 검사 요청의 49.5%가 대기 리스트에서 제거될 수 있을 것으로 보입니다.
심장 생리학의 선임 강사인 Duncan Sleeman은 MyoVista wavECG가 추가 심장 개입이 필요 없는 환자를 식별하여 LV 기능 요청 에코 회부 대기 리스트 관리를 혁신할 수 있다고 말했습니다. HeartSciences의 CEO인 Andrew Simpson은 심혈관 치료 경로의 효율성을 개선하는 것이 그들의 AI-ECG 기술의 핵심 목표임을 강조했습니다.
HeartSciences (NASDAQ: HSCS) a annoncé une analyse de l'Innovation Value Institute (IVI) montrant le potentiel de leur MyoVista® wavECG™ pour améliorer l'efficacité des parcours cardiovasculaires. L'étude, axée sur le pré-scrutage des patients pour des examens échocardiographiques liés à la fonction du ventricule gauche (LV) dans un hôpital du NHS, a montré que 49,5 % des demandes de tests de fonction du LV pourraient potentiellement être éliminées de la liste d'attente.
Duncan Sleeman, professeur senior en physiologie cardiaque, a déclaré que le MyoVista wavECG pourrait révolutionner la gestion des listes d'attente pour les références d'écho concernant les demandes de fonction du LV en identifiant les patients qui n'ont pas besoin d'une intervention cardiologique supplémentaire. Andrew Simpson, PDG de HeartSciences, a souligné que l'amélioration de l'efficacité des parcours de soins cardiovasculaires est un objectif clé pour leur technologie AI-ECG.
HeartSciences (NASDAQ: HSCS) hat eine Analyse des Innovation Value Institute (IVI) angekündigt, die das Potenzial ihres MyoVista® wavECG™ zur Verbesserung der Effizienz von kardiovaskulären Abläufen demonstriert. Die Studie, die sich auf die Vorscreening von Patienten für echokardiografische Untersuchungen zur Funktion des linken Ventrikels (LV) in einem NHS-Krankenhaus konzentrierte, zeigte, dass 49,5% der Anfragen für LV-Funktionstests möglicherweise von der Warteliste entfernt werden könnten.
Duncan Sleeman, ein Dozent für Kardiophysiologie, erklärte, dass das MyoVista wavECG die Verwaltung der Wartelisten für LV-Funktionsanfragen revolutionieren könnte, indem es Patienten identifiziert, die keinen weiteren kardiologischen Eingriff benötigen. Andrew Simpson, CEO von HeartSciences, betonte, dass die Verbesserung der Effizienz der kardiovaskulären Versorgung ein zentrales Ziel ihrer AI-ECG-Technologie ist.
- Potential to eliminate 49.5% of LV function test queries from waitlists
- AI-powered ECG device could revolutionize management of echo referral waitlists
- Technology aims to improve efficiency of cardiovascular care pathway
- None.
Insights
The Innovation Value Institute's analysis of HeartSciences' MyoVista® wavECG™ technology presents a potentially significant advancement in cardiovascular care efficiency. The study's finding that
This reduction in unnecessary echocardiographic examinations could lead to substantial cost savings for healthcare systems and improved patient care pathways. However, it's important to consider the following points:
- The study was conducted in a single NHS district general hospital, which may limit its generalizability to other healthcare settings or countries.
- The accuracy and reliability of the AI-powered ECG device in real-world clinical settings need to be thoroughly validated through larger, multi-center studies.
- The potential impact on patient outcomes, not just efficiency metrics, should be carefully evaluated.
While the results are promising, investors should be cautious about extrapolating these findings to immediate market success. The adoption of new medical technologies often faces regulatory hurdles and requires changes in clinical practice guidelines, which can be a lengthy process.
From a financial perspective, the potential of HeartSciences' MyoVista® wavECG™ to improve cardiovascular pathway efficiency could translate into significant market opportunities. However, several factors need to be considered:
- Market size: The global ECG devices market is projected to reach
$10.3 billion by 2024, presenting a substantial opportunity for innovative technologies. - Cost savings: If the
49.5% reduction in unnecessary tests is replicated across healthcare systems, it could lead to substantial cost savings, potentially driving adoption. - Competitive landscape: The AI-powered medical device market is increasingly crowded and HeartSciences will need to differentiate its offering effectively.
- Regulatory approvals: The timeline for obtaining necessary regulatory clearances in various markets will be important for the company's revenue projections.
Investors should note that HeartSciences is still in the pre-revenue stage and the path to commercialization and profitability may be lengthy. The company's ability to secure partnerships with major healthcare providers and navigate the complex healthcare reimbursement landscape will be critical success factors.
Southlake, TX, July 26, 2024 (GLOBE NEWSWIRE) -- Heart Test Laboratories, Inc. d/b/a HeartSciences (NASDAQ: HSCS; HSCSW) (“HeartSciences” or the “Company”), an artificial intelligence (AI)-powered medical technology company focused on transforming ECGs/EKGs to save lives through earlier detection of heart disease, today announced an analysis published by the Innovation Value Institute (IVI) titled “Introduction of AI assisted Digital Health Technology to Improve Cardiovascular Pathway Efficiency” focused on the MyoVista® wavECG™’s potential to radically improve the cardiovascular pathway efficiency.
Founded in 2006, the Maynooth University, Ireland based IVI is a multidisciplinary research institute focused on digital transformation and technology adoption. The paper analyzed the potential impact of using the MyoVista wavECG for prescreening of patients being considered for an echocardiographic examination related to left ventricle (LV) function at a National Health Service (NHS) district general hospital. The paper noted that “analysis of the audited figures show that
Duncan Sleeman, UWE – Senior Lecturer (Cardiac Physiology) / Programme Lead (PGCert Echocardiography), an author of the abstract, stated, “The introduction of the MyoVista wavECG device could revolutionize our approach to managing the LV function query echo referral waitlist. By pre-screening in-hospital patients with this AI-powered ECG device, we could identify those who do not require further cardiology intervention, thereby reducing unnecessary referrals and enabling quicker access to care for those in need.”
Andrew Simpson, CEO of HeartSciences, said, “Along with improving patient care, one of the key goals for our AI-ECG technology is improving the efficiency of the cardiovascular care pathway. This analysis by the IVI demonstrates that our technology has the potential to do just that. We look forward to bringing this valuable technology to market.”
The full abstract can be found here.
About HeartSciences
Heart Test Laboratories, Inc. d/b/a HeartSciences is a medical technology company focused on applying innovative AI-based technology to an ECG (also known as an EKG) to expand and improve an ECG's clinical utility. Millions of ECGs are performed every week and the Company's objective is to improve healthcare by making it a far more valuable cardiac screening tool, particularly in frontline or point-of-care clinical settings. HeartSciences has one of the largest libraries of AI-ECG algorithms and is developing AI-ECG solutions to be made available on either a hardware agnostic cloud-based platform or its proprietary MyoVista® wavECG™ device, to help identify cardiovascular disease in any care setting worldwide in a manner to best suit different care providers. HeartSciences' first product candidate for FDA clearance, the MyoVista® wavECG™, or the MyoVista®, is a resting 12-lead ECG that is also designed to provide diagnostic information related to cardiac dysfunction which has traditionally only been available through the use of cardiac imaging. The MyoVista® also provides conventional ECG information in the same test.
For more information, please visit: https://heartsciences.com/. X: @HeartSciences
Safe Harbor Statement
This announcement contains 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. These forward-looking statements are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and are relating to the Company's future financial and operating performance. All statements, other than statements of historical facts, included herein are "forward-looking statements" including, among other things, statements about HeartSciences' beliefs and expectations. These statements are based on current expectations, assumptions and uncertainties involving judgments about, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company's control. The expectations reflected in these forward-looking statements involve significant assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Potential risks and uncertainties include, but are not limited to, risks discussed in HeartSciences' Annual Report on Form 10-K for the fiscal year ended April 30, 2023, filed with the U.S. Securities and Exchange Commission (the "SEC") on July 18, 2023, HeartSciences’ Quarterly Report on Form 10-Q for the fiscal quarter ended January 31, 2024, filed with the SEC on March 14, 2024 and in HeartSciences' other filings with the SEC at www.sec.gov. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Contacts:
HeartSciences
Gene Gephart
+1-682-244-2578 (US)
info@heartsciences.com
Investors
Gilmartin Group
Vivian Cervantes
investorrelations@heartsciences.com
FAQ
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