PAVmed Subsidiary, Veris Health, Announces Launch of Pilot Program with The Ohio State University Comprehensive Cancer Center - James Cancer Hospital and Solove Research Institute
PAVmed's subsidiary, Veris Health, has launched a pilot program in collaboration with The Ohio State University Comprehensive Cancer Center – Arthur G. James Cancer Hospital and Richard J. Solove Research Institute (OSUCCC – James). This program marks the first enrollment of patients on the Veris Cancer Care Platform, a comprehensive digital tool designed to enhance personalized cancer care. The platform integrates remote physiological data collection, symptom reporting, telehealth, and electronic health record capabilities. Cancer patients utilize the VerisBox and a patient portal for seamless data transmission and monitoring. Veris is also developing an implantable physiological monitor to complement the platform. The collaboration aims to improve early complication detection, reduce unplanned hospitalizations, and increase patient satisfaction.
- Veris Health has partnered with OSUCCC – James, a prestigious and large academic cancer center, enhancing credibility.
- First patients have been successfully enrolled in the pilot program, marking a significant milestone.
- The Veris Cancer Care Platform offers comprehensive features including remote data collection, symptom reporting, telehealth, and electronic health record integration.
- Platform aims to improve early detection of complications and reduce unplanned hospitalizations.
- Development of an implantable physiological monitor to enhance the platform’s value.
- Potential for increased patient and provider satisfaction through personalized care.
- Pilot program status suggests the platform is still in early testing phases, introducing potential uncertainty regarding its efficacy and scalability.
- No specific financial data or revenue projections related to the pilot program were disclosed, making financial impact unclear.
- Risk of patient non-compliance might affect the efficacy of the platform despite the development of an implantable monitor.
Insights
The launch of the Veris Cancer Care Platform in conjunction with The Ohio State University Comprehensive Cancer Center is a significant development in the realm of digital health and oncology. This platform aims to enhance personalized cancer care by integrating remote physiological data collection and telehealth capabilities. For patients undergoing systemic cancer therapy, this can potentially improve outcomes through early detection of complications and reduced unplanned hospitalizations. The integration with electronic health records and the provision of longitudinal trends of physiological and clinical data can enable oncologists to make more informed decisions, thereby increasing patient and provider satisfaction. While it is still early stages, if the pilot program proves successful, it could set a precedent for other cancer centers to adopt similar technologies.
The collaboration between Veris Health and OSUCCC – James could provide valuable clinical data that reinforces the efficacy and usability of the Veris Cancer Care Platform. The integration of telehealth and remote monitoring tools is particularly relevant in the current healthcare landscape, which increasingly emphasizes digital solutions for patient management. If the platform demonstrates significant benefits in terms of patient outcomes and cost savings, it may lead to broader adoption across other medical institutions. Additionally, the development of an implantable physiological monitor could further distinguish this platform by providing continuous, real-time data independent of patient compliance, a critical factor in chronic disease management.
From an investor's perspective, this partnership with a prestigious institution like OSUCCC – James represents a strategic milestone for PAVmed and its subsidiary, Veris Health. Successful implementation and positive clinical outcomes from this pilot program could bolster the company's market position in the digital health sector. Moreover, the execution of this memorandum of understanding and the subsequent enrollment of patients might generate confidence among investors regarding the company's growth trajectory and innovative capabilities. Long-term, the scalable nature of this platform, if proven effective, could lead to substantial revenue streams and increased stock valuation.
First patients enrolled on the Veris Cancer Care Platform
"The OSUCCC – James is one of the largest academic cancer centers in the nation and we couldn't be more excited to enroll our first patients in a pilot program at such a renowned institution at the forefront of cancer care," said James Mitchell, M.D., Veris' Chief Medical Officer. "We look forward to completing a successful pilot program and continuing to execute our vision to offer enhanced personalized cancer care to the thousands of patients who receive systemic cancer therapy at the OSUCCC – James every year."
The Veris Cancer Care Platform is a comprehensive digital cancer care platform with remote physiological data collection, symptom reporting, telehealth capability, and electronic health record integration. The platform seeks to offer enhanced personalized cancer care through the early detection of complications, reduced unplanned hospitalizations, the provision of longitudinal trends of physiological and clinical data, data-driven risk management tools, and increased patient and provider satisfaction.
Cancer patients enrolled on the platform receive a VerisBox™ of Veris-branded connected health care devices which transmit physiologic data to the cloud-based clinician portal via embedded cellular connections. A complementary patient portal enables patients to report symptoms, as well as general health and quality of life parameters, to their cancer care team through the Veris patient smartphone app. The app also allows patients to invite caretakers and family members to follow along on their cancer care journey. Veris is also developing an implantable physiological monitor, designed to be implanted alongside a vascular access port, which will interface with the Veris Cancer Care Platform. The implantable monitor will further enhance the clinical and commercial value of the platform by providing remote physiologic data independent of patient compliance.
Cancer centers and oncology practices interested in learning more about Veris and the Veris Platform, please visit www.verishealth.com to contact a company representative.
About PAVmed and Veris
PAVmed Inc. is a diversified commercial-stage medical technology company operating in the medical device, diagnostics, and digital health sectors. Its majority-owned subsidiary, Veris Health Inc., is a digital health company whose lead product is a digital cancer care platform with physiologic data collection, symptom reporting and telehealth functions, designed to improve personalized cancer care through remote patient monitoring. Veris has also been developing an implantable physiological monitor, designed to be implanted alongside a chemotherapy port, which will interface with the Veris cancer care platform. Its other majority-owned subsidiary, Lucid Diagnostics, is a commercial-stage cancer prevention medical diagnostics company that markets the EsoGuard® Esophageal DNA Test and EsoCheck® Esophageal Cell Collection Device—the first and only commercial tools for widespread early detection of esophageal precancer to mitigate the risks of esophageal cancer deaths.
For more information about PAVmed, please visit pavmed.com.
For more information about Veris Health, please visit verishealth.com.
For more information about Lucid Diagnostics, please visit luciddx.com.
To learn more about cancer treatment and clinical trials at the OSUCCC – James, visit cancer.osu.edu.
Forward-Looking Statements
This press release includes forward-looking statements that involve risk and uncertainties. Forward-looking statements are any statements that are not historical facts. Such forward-looking statements, which are based upon the current beliefs and expectations of PAVmed's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. Risks and uncertainties that may cause such differences include, among other things, volatility in the price of PAVmed's common stock; general economic and market conditions; the uncertainties inherent in research and development, including the cost and time required to advance PAVmed's products to regulatory submission; whether regulatory authorities will be satisfied with the design of and results from PAVmed's clinical and preclinical studies; whether and when PAVmed's products are cleared by regulatory authorities; market acceptance of PAVmed's products once cleared and commercialized; PAVmed's ability to raise additional funding as needed; and other competitive developments. These factors are difficult or impossible to predict accurately and many of them are beyond PAVmed's control. In addition, new risks and uncertainties may arise from time to time and are difficult to predict. For a further list and description of these and other important risks and uncertainties that may affect PAVmed's future operations, see Part I, Item 1A, "Risk Factors," in PAVmed's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, as the same may be updated in Part II, Item 1A, "Risk Factors" in any Quarterly Report on Form 10-Q filed by PAVmed after its most recent Annual Report. PAVmed disclaims any intention or obligation to publicly update or revise any forward-looking statement to reflect any change in its expectations or in events, conditions, or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements.
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SOURCE PAVmed Inc.
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