Biotricity Announces a Strategic Partnership for Cardiac Screenings in Patients with Co-Morbidities
- None.
- None.
Exploring partnerships in the healthcare sector, especially within the realm of medical diagnostics, can significantly influence a company's market position and financial performance. Biotricity's move to integrate cardiac screenings in neurological practices is a strategic step that could enhance the company's service offerings and potentially increase its revenue streams. By targeting a large demographic affected by neurological issues, the company is tapping into a new customer base that has been relatively underserved in terms of cardiovascular health monitoring.
Additionally, the healthcare industry is increasingly adopting value-based care models, which prioritize patient outcomes and cost efficiency. Biotricity's initiative aligns with this trend by aiming to provide earlier detection of cardiac issues, which can prevent costly interventions later on. This could be particularly appealing to insurance providers and healthcare facilities that are looking to reduce expenses while maintaining high-quality patient care. The potential for cost savings and improved patient outcomes could drive increased adoption of Biotricity's services, further expanding its market reach.
Cardiologists currently face a high patient load, which can lead to delayed diagnoses and treatment for cardiac-related conditions. Biotricity's strategy to enable earlier screenings through strategic partnerships could alleviate some of the pressure on cardiologists. By integrating cardiac screenings within the workflow of neurologists and other specialists, the company is positioning itself as a facilitator of more efficient healthcare delivery.
The approach could resonate with healthcare providers who are looking for innovative ways to manage their patient caseload more effectively. If Biotricity's model proves successful, it could set a precedent for other diagnostic service providers to follow, potentially reshaping the standard of care in cardiology and beyond. However, the success of this strategy will largely depend on the seamless integration of Biotricity's technology with existing medical practices, as well as the company's ability to demonstrate tangible benefits to both patients and healthcare providers.
The partnership announced by Biotricity aligns with broader healthcare policy goals of improving access to care and reducing long-term healthcare costs. By focusing on patients with co-morbidities, Biotricity is addressing a significant gap in the current healthcare system where patients with multiple health issues often receive fragmented care. This can lead to poor health outcomes and increased costs due to late diagnoses and inefficient use of resources.
From a policy perspective, initiatives that promote early intervention and integrated care models are highly encouraged, as they can lead to better health outcomes and more sustainable healthcare systems. Biotricity's strategy may also attract attention from policymakers interested in promoting technologies that can lead to more proactive health management. However, the company's ability to scale its operations and maintain the quality of care will be critical for long-term success and policy support.
REDWOOD CITY, CA / ACCESSWIRE / April 2, 2024 / Biotricity Inc. (NASDAQ:BTCY) ("Biotricity" or the "Company"), a leading Technology-as-a-Service (TaaS) company revolutionizing the medical diagnostic and consumer healthcare field, continues its strategic expansion with the announcement of its latest partnership in neurology to conduct cardiac screenings in patients suffering from neurological issues.
There are over 1,000 neurological disorders and over 100 million Americans suffering from at least 1 neurological issue. Alzheimer's, Parkinsons, and other dementias are just a few such conditions that lead to increased cardiovascular risk. Many of these patients are screened late, leading to an increase in costs and higher patient risk. Biotricity is focused on providing earlier screenings to patients with co-morbidities, reducing costs while improving the quality of care.
"Biotricity is proud to announce this expansion as the first step in its strategy to build out a broader cardiac screening network to support patients with co-morbidities," said Waqaas Al-Siddiq, Ph.D., Founder, Chairman, and CEO of Biotricity. "This milestone will serve as a foundation for our expansion strategy and enhance our visibility and market reach within the healthcare industry."
Cardiologists are overwhelmed with too many patients, unable to service all those that need their expertise. With the increase in chronic conditions, cardiologists are receiving referrals from a variety of specialists, including neurologists, pulmonologists, nephrologists, and endocrinologists, to name a few. All these patients have increased cardiac risk but often receive cardiac diagnoses late.
Biotricity's approach is to build strategic partnerships to help deliver cardiac screenings by the referring physician. Patients will be screened earlier and referred to cardiologists to receive care as opposed to being referred for screenings. This approach will not only reduce costs but also improve outcomes and the quality of care. Most importantly, it will optimize the time for all physicians involved, enabling them to service more patients.
This strategic approach will expand Biotricity's market opportunity while focusing on better patient outcomes. By partnering with specialty groups already focused on the target patient population, Biotricity can achieve much faster market access. This partnership alone will give Biotricity an opportunity to access the neurology market, comprised of over 100 million Americans and over 16,000 neurologists. Biotricity is focused on building out similar partnerships in other specialty areas where patients have increase cardiac risk factors and require cardiac screenings.
For Investors interested in learning more about Biotricity, its robust revenue trajectory, and its comprehensive suite of medical diagnostic and consumer healthcare technologies, visit www.biotricity.com/investors.
About Biotricity
Biotricity is transforming the healthcare market by bridging the gap in remote monitoring and chronic care management with a focus on cardiology. Physicians and patients trust Biotricity's unparalleled standard for preventive and personal care, including diagnostic and post-diagnostic solutions for chronic conditions. The company develops comprehensive remote health monitoring solutions for the medical and consumer markets. To learn more, visit www.biotricity.com and follow us on Twitter and LinkedIn.
Important Cautions Regarding Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words "may," "should," "would," "will," "could," "scheduled," "expect," "anticipate," "estimate," "believe," "intend," "seek," "project," or "goal" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements may include, without limitation, statements regarding (i) the plans, objectives and goals of management for future operations, including plans, objectives or goals relating to the design, development and commercialization of Bioflux or any of the Company's other proposed products or services, (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, capital structure or other financial items, (iii) the Company's future financial performance, (iv) the regulatory regime in which the Company operates or intends to operate and (v) the assumptions underlying or relating to any statement described in points (i), (ii), (iii) or (iv) above. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events, or circumstances and may not be realized because they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to several risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements because of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company's inability to obtain additional financing, the significant length of time and resources associated with the development of its products and related insufficient cash flows and resulting illiquidity, the Company's inability to expand the Company's business, significant government regulation of medical devices and the healthcare industry, lack of product diversification, existing or increased competition, results of arbitration and litigation, stock volatility and illiquidity, and the Company's failure to implement the Company's business plans or strategies. These and other factors are identified and described in more detail in the Company's filings with the SEC. There cannot be any assurance that the Company will ever become profitable. The Company assumes no obligation to update any forward-looking statements to reflect any event or circumstance that may arise after the date of this release.
Investor Relations Contacts
SOURCE: Biotricity, Inc.
View the original press release on accesswire.com
