ARTICLE SUMMARY:
Remote cardiac monitoring streamlines the diagnostic and care processes, keeping clinicians available for the patients who need their attention most. Yet, most monitoring devices only record data passively, and the economics are not always favorable to providers. To improve the functionality, accessibility, and margins of remote monitoring, Biotricity has rolled out a comprehensive ecosystem of hardware and software products.
Since 2019, publicly traded Biotricity (NASDAQ:BTCY) has set out to offer a comprehensive suite of biometric monitoring solutions focused on the cardiac care population. Having achieved significant market penetration with its FDA-approved Bioflux and Biotres devices for high-risk patients, the company is now preparing to launch three more, including a consumer product with clinical-grade sensitivity called Bioheart. Through the expansion of its product ecosystem, Biotricity has increased its total available market from $1 billion to $35 billion in the last six months, offering its solutions via a technology as a service (TaaS) model that is intended to generate greater revenue for its customers by insourcing diagnostics, remote monitoring, telemedicine, and chronic disease management capabilities.
The status quo of remote patient monitoring (RPM) is generally a device that can perform passive recording of data. However, this data is only viewed and assessed periodically by clinical staff, and patients at risk of stroke or heart attack need a more immediate response when warning signs are detected. With the goal of early diagnosis that enables early intervention to keep patients from more hospitalization than is necessary, Biotricity is working to integrate top-of-line sensitivity with improved care team communication and centralization of data. CEO Waqaas Al-Siddiq, whose prior work was in cloud computing and digital architecture with companies such as AMD and Intel, tells us more in this Q&A.
