Therma Bright Investigates Remote Therapeutic Monitoring (RTM) Reimbursement for its AI-Driven Digital Cough Technology
Company Sees Benefits For Healthcare Practitioners, Businesses and Governments To Better Collect, Capture And Analyze Critical Respiratory Data
Toronto, Ontario--(Newsfile Corp. - June 22, 2023) - Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) ("Therma" or the "Company"), developer and partner in a wide-range of leading-edge, proprietary diagnostic and medical device technologies, announced today it has begun investigating opportunities to commercialize and monetize it artificial intelligence (AI) driven Digital Cough Technology (DCT) as a remote therapeutic monitoring (RTM) solution, and has begun researching the Centers for Medicare and Medicaid Service (CMS) procedures for securing various Current Procedural Terminology (CPT®) and Healthcare Common Procedure Coding System (HCPCS) billing codes for patient and practitioner reimbursements.
Therma Bright's AI-driven DCT platform represents a timely entry into a growing RTM marketplace; helping to support healthcare decision-making by improving the ability to collect, organize, and display cough and respiratory data for health care providers, as well as epidemiologists who are public health workers that investigate patterns and causes of disease. The AI-driven DCT data collection solution will allow health practitioners and epidemiologist to make more accurate and informed clinical decisions in order to quickly address a patient's specific issues or a group of patients' similarities for quicker detection of the spread of a viral disease.
"The global penetration of smartphones, coupled with improved 4G/5G internet connectivity and AI-driven/machine learning data capture and analysis, has helped advance the healthcare IT space," shared Rob Fia , CEO of Therma Bright. "The COVID-19 pandemic was a wakeup call to our global communities, and the need to quickly and efficiently collect, capture and analyze critical healthcare data, such as digital cough technology, from a single patient to millions of people; allowing a clinic, healthcare practitioner, corporation and/or government entity to better determine the potential rise or prevalence of a chronic disease."
In conjunction with its CMS effort, the Company plans to complete the AI-driven DCT user-interface dashboard for its mobile, tablet and computer apps for healthcare practitioners, as well as an expansion in its global data collection efforts through a beta-test across the U.S. early this summer.
In addition, Therma Bright has been actively working with its Venowave distribution network in the State of Texas to expand sales of Venowave utilizing the nine (9) temporary CPT® and HCPCS reimbursement codes. Additional updates are expected in future press announcements.
Furthermore, at the request of the TSX Venture Exchange, the Company hereby corrects disclosure previously made in its February 16, 2023 news release regarding the exercise price of the 2,000,000 three-year warrants it proposes to issue to AI4LYF Inc. pursuant to a software license agreement with AI4LYF Inc. Each warrant will be exercisable for one share at a price of
About Therma Bright Inc.
Therma Bright is a developer and partner in a wide range of leading edge, proprietary diagnostic and medical device technologies focused on providing consumers and medical professionals with quality, innovative solutions that address some of today's most important medical and healthcare challenges. Therma Bright Inc. trades on the (TSXV: THRM) (OTCQB: TBRIF) (FSE: JNX). Visit: www.thermabright.com.
About AI4LYF
AI4LYF is an innovative smart-health company with a mission to transform lives through deep intelligence. Having pioneered DCT, it is also working on AI based novel solutions that have potential to change the "Reactive Sick care" into "predictive, preventive, personalized health care" for fuller and longer lives for all.
Therma Bright Inc.
Rob Fia, CEO
rfia@thermabright.com
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FORWARD-LOOKING STATEMENTS
Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events such as the commercialization of DCT and sales of Venowave and related technology as described in the news release. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether such results will be achieved. Actual results could differ materially from those anticipated due to several factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as required under applicable securities regulations.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/170945
