Proposed CMS Rules Present ALRT With Significant New Market Opportunities for Remote Monitoring of Patients With Chronic Conditions
RICHMOND, VA--(Marketwired - Jul 10, 2014) - ALR Technologies (OTCQB: ALRT) a medical device company providing remote monitoring and care facilitation for patients with chronic conditions, welcomes proposed Centers for Medicare and Medicaid Services (CMS) rules for remote monitoring of patients with chronic conditions.
Beginning next year, primary care physicians and others could begin billing separately for chronic care management (CCM) services if the Physician Fee Schedule (PFS) proposed by the Centers for CMS is adopted. These changes in the Medicare fee-for-service program have the potential to create generous new incentives for telemedicine companies that specialize in remote monitoring of patients with chronic conditions.
CMS announced the proposed rule containing updates to the PFS July 3. The full proposed rulemaking changes can be found here:http://www.ofr.gov/OFRUpload/OFRData/2014-15948_PI.pdf.
"For the first time, CMS is proposing reimbursement criteria in the Medicare fee-for-service program for non-face-to-face CCM services," said Bill Smith, President of ALR Technologies. These services are defined as a unique, covered service designed to pay separately for non-face-to-face care coordination services furnished to Medicare beneficiaries with two or more chronic conditions. CMS proposes a payment rate of $41.92 per month per qualified patients effective January 1, 2015.
The Medicare-eligible diabetes population is expected to rise to 14.6 million by 2034.
According to data from the American Diabetes Association the estimated total health cost related to diabetes is about $245 billion. As of 2011, one out of every three Medicare dollars is spent on diabetes.
"These changes represent a significant opportunity for improving health outcomes for millions of Americans with diabetes," said Sidney Chan, CEO of ALRT. "The complications that result from inadequately managing diabetes can be measured in the enormous pain and suffering of patients and unnecessary costs for the healthcare system. Numerous clinical trials have shown that these complications can be mitigated through intensive blood glucose management. The rule changes proposed by CMS will encourage the type of patient management which will improve outcomes and help contain costs."
About ALR Technologies Inc. www.alrt.com.