NAMCP Independent Third-Party Review Validates Value Proposition of iRhythm Zio XT Service to Health Systems and Payers
- Zio XT's diagnostic yield, wear time, and detection of arrhythmias validated by NAMCP
- High patient compliance and preference for Zio XT over traditional Holter monitor confirmed
- Real-world evidence study supports Zio XT's value proposition in terms of economic and outcome data
- Ambulatory cardiac monitoring market expected to grow due to aging population and rising heart-related disorders
- None.
Zio XT value proposition lives up to its claims and demonstrates high value around clinical utility and payer economics
SAN FRANCISCO, July 18, 2023 (GLOBE NEWSWIRE) -- iRhythm Technologies, Inc. (NASDAQ:IRTC), a leading digital health care company focused on creating trusted solutions that detect, predict, and prevent disease, announced that an independent third-party review, conducted by the National Association of Managed Care Physicians (NAMCP), validated evidence that shows the Zio XT long-term cardiac monitoring service contributes value to health systems and payers.
Relative to efficacy and clinical utility, the assessment validated evidence on Zio XT’s diagnostic yield, analyzable wear time, detection of many types of arrhythmias, lower likelihood of retesting compared with other monitor types, improved clinical outcomes, and decreased time to diagnosis. Relative to patient compliance, the assessment validated that multiple studies show high patient compliance as demonstrated by long median and mean wear time, and further noted that published studies have reported patients preferred the Zio XT over the conventional Holter monitor and found the device comfortable to wear.
“As a clinician-led organization committed to delivering evidence-based solutions for payers and providers, this independent assessment reinforces our belief in the value proposition of our Zio XT service,” said Quentin Blackford, iRhythm President and Chief Executive Officer. “As iRhythm works to advance the standards of cardiac care, we are proud to be selected by the NAMCP as the first healthcare solution to go through this evaluation.”
The independent review, led by the NAMCP’s Organization for Objective Review and Clinical Assessment (OORCA), is groundbreaking as a first for ambulatory cardiac monitoring in the value-based care environment. It is a path forward for health systems and payers who find themselves tasked with not only improving patient outcomes but also managing the costs of healthcare resource utilization.
“Finding opportunities to educate medical directors of health plans and provider systems continues to be our mission, and we are now in a place to do that in a new way. iRhythm’s Zio XT service has been through the OORCA assessment and is now validated as the first solution of its kind to bring clear benefits from an objective point of view for all who use it,” said Tom Morrow, MD, NAMCP President. “We look forward to rolling out the OORCA assessment to continue to evaluate the value proposition of medical devices, services, and pharmaceuticals.”
A real-world evidence study recently presented at the American College of Cardiology’s Annual Scientific Session – CAMELOT: Comparative Effectiveness Of Ambulatory Monitors For Arrhythmia Diagnosis: A Retrospective Analysis Of Medicare Beneficiaries – played a central role as evidence in the evaluation. To this end, the OORCA noted that iRhythm is the only manufacturer of cardiac monitors that has conducted and published real-world comparative economic and outcome data, further supporting the value proposition of Zio XT.
The ambulatory cardiac monitoring market is well-established in the United States with an estimated six million diagnostic tests performed annually, a number expected to grow in the coming years due to an aging population, a rising number of heart-related disorders globally, and broader acceptance of innovative medical technologies.
About the National Association of Managed Care Professionals and the Organization for Objective Review and Clinical Assessment
NAMCP, a non-profit membership association, was established in 1991 to provide tools, education, and resources to medical directors, practicing physicians, and other healthcare professionals. The membership consists of medical directors and physicians from purchaser, plan, and provider healthcare delivery systems. In 2022, the Value Based Cared Organization (VBCC) expanded its efforts beyond the Value Proposition Customer Engagement Short Form by establishing the Organization for Objective Review and Clinical Assessment (OORCA), an independent third-party entity designed to conduct objective assessments of industry’s product value propositions that are communicated to Medical Directors. Requests from payers, manufacturers, and others for an objective review and clinical assessment by the OORCA are received by the VBCC. The OORCA assesses the credibility and objectivity of the manufacturer’s value proposition of its product(s). This assessment is intended to aid Medical Directors’ evaluation of the product(s) for their organization and members.
About iRhythm Technologies, Inc.
iRhythm is a leading digital health care company that creates trusted solutions that detect, predict, and prevent disease. Combining wearable biosensors and cloud-based data analytics with powerful proprietary algorithms, iRhythm distills data from millions of heartbeats into clinically actionable information. Through a relentless focus on patient care, iRhythm’s vision is to deliver better data, better insights, and better health for all. To learn more about iRhythm, including its portfolio of Zio products and services, please visit irhythmtech.com.
Investor Relations Contact:
Stephanie Zhadkevich
(919) 452-5430
investors@irhythmtech.com
Media Contact:
Saige Smith
(262) 289-7065
irhythm@highwirepr.com
FAQ
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