Posted: 1 August 2023
Adherium Limited (ASX: ADR), a leading provider of respiratory eHealth, remote monitoring and data management solutions, today announced it is entering a rapid commercialisation phase in reimbursed remote patient monitoring in the globally significant US market.
Adherium’s leading position in remote patient monitoring, using the Hailie®app and portal software platform, is scaling up across patients and customers with Adherium getting paid for generating and transmitting respiratory data. Progress is being made as evidenced by achieving $3.1M FY23 unaudited operating revenue compared to $0.5M prior year.
Chief executive Rick Legleiter said following a business strategy review, the executive leadership team is steering a reallocation of resources to commercial opportunities, accelerating the company’s drive to become cash flow positive with major customer milestones progressing within this quarter.
“With our strong technological foundation and clinically validated solutions, and based upon achieving our regulatory, product development and market coverage milestones, Adherium is investing further in the go–to–market strategy,” said Mr Legleiter.“We are excited about having progressed on our operational execution to this phase of our business strategy, which enables us to focus on the rapid commercialisation of our platform, particularly in the US market.”
In addition to enabling doctor reimbursement in the US for remotely monitoring patients, the company will now actively pursue strategic commercial partnerships with major health systems and insurers to establish value–based, risk–share contracts to more rapidly generate meaningful scale. This model aligns incentives for health providers and payors who focus on health outcomes rather than services delivered.
Rick Legleiter added, “Our aim is to ensure that the right treatment reaches the right patient at the right time. By building value–based healthcare contracts in addition to a remote patient monitoring revenue stream, we will drive a shift towards an outcomes–based model of healthcare that benefits all stakeholders.”
Attachment 1 shows the fully updated sensor portfolio for remote patient monitoring. The strategy will add further scale to Adherium’s cloud–based Hailie platform by selling this comprehensive offering.
Mr Legleiter said that the rapid commercialisation strategy is backed up by a full suite of support materials including instructional videos, handouts and website updates for patients and partners.
Now following four US FDA 510(k) market clearances of the next generation Hailie sensors, Attachment 2 competitive analysis graphics shows Adherium progressed to 79% coverage for sensors capturing physiological data such as inhalation flow rate, and 91% coverage for adherence tracking of US top 20 branded inhaler medications by sales volume. Hailie is the only FDA 510(k) cleared drug agnostic digital sensor available today to offer physiological data insights on inhaler technique.
Hailie integrates FDA–cleared,Bluetooth®–enabled sensors that wrap around a patient’s prescribed inhaler, capturing critical data on medication usage and physiological parameters.
The Hailie app and portal software platform provides real–time feedback to patients and physicians with data supporting medication adherence, behavioural influencing, escalations, and interventions, promising a reduction in hospital admissions and improving the quality of life for patients.
The Hailie solution has shown significant clinical effectiveness, increasing adherence to preventative medication by 180% in children and 59% in adults and reducing severe exacerbations in adults by 61%1.
With more than 100 peer–reviewed publications involving over 13,000 patients citing the Hailie platform, Adherium is well–positioned to drive a transformation in the management of chronic respiratory conditions.
Given the favourable reimbursement codes for remote patient monitoring and telehealth introduced in the US, Adherium’s strategy aligns directly with the growing adoption of telehealth solutions driven further by the challenges posed by the COVID–19 pandemic.
Other growth options being pursued by Adherium include predictive analytics projects using Artificial Intelligence (AI) and enabling the platform as Software as a Medical Device (SaMD) . Adherium is entering this new stage of business roll–out and committed to creating a world where every breath counts.
