- DarioHealth Corp. is providing innovative solutions to medical patient care through its technology enabled remote patient monitoring platform (“RPM”), which it believes will save medical providers time while allowing them to better control care
- The company announced its first two remote patient monitoring agreements in North America last month
- On July 20, DarioHealth announced a strategic partnership that will allow the company to expand the reach of its remote patient care management internationally, targeting markets in the United Kingdom and Ireland
- The ongoing COVID-19 pandemic has made tech enabled remote patient care increasingly popular as a general solution to maintaining health measures while minimizing the risk of virus transmission
- The remote patient monitoring services market is expected to grow at a CAGR of 17.8 percent between 2019 and 2026
Digital therapeutics innovator DarioHealth (NASDAQ: DRIO) is building bridges that will help it cross over the Atlantic Ocean and begin serving Europeans with the company’s health monitoring solution.
The company announced July 20 that it has entered into a strategic partnership with Williams Medical to make the DarioHealth Remote Patient Monitoring (“RPM”) digital therapeutics platform available to healthcare professionals across the United Kingdom and Ireland (http://ibn.fm/ikMWo).
The DarioHealth Remote Patient Monitoring platform allows treating physicians to remain involved in the care management of their patients in between office visits, which the company believes will lessen the workload of healthcare providers while potentially preventing unnecessary and unplanned hospital visits and securing the position of the general physician as the primary source of medical advice.
The digital therapeutics platform integrates the operation of the company’s existing open platform, user-responsive app technology, and the DarioEngage coaching platform to help physicians and large provider groups work within the framework of approved of remote patient monitoring billing codes, according to the company.
The platform personalizeshealthcare, delivering occasional “nudges” to patients according to their needs and live responses to health situations reported by AI-enabled smart tech in patients’ medical devices (http://ibn.fm/n6ixP).
“We are very excited about this partnership between DarioHealth and Williams Medical as this aligns with our international growth initiative by offering our world-class RPM platform to physicians outside of the United States,” DarioHealth COO Dror Bacher stated. “Williams’ in-depth understanding of the UK and Irish healthcare markets and strong presence in the primary care arena creates an ideal opportunity for us to deliver a best-in-class RPM solution to general practices and patients.”
The agreement follows on the heels of last month’s announcement that DarioHealth had signed its first two remote patient monitoring agreements in North America (http://ibn.fm/HQubx).
The benefits of remote-access telehealth in general has become increasingly evident as the COVID-19 pandemic has lengthened out its duration. Private insurers have seen telemedicine claims grow by 4,347 percent year-over-year during the global crisis (http://ibn.fm/AO3lU).
Personalized, AI-facilitated reporting of and responsiveness to patients’ medical conditions and care management is a technology-heavy subset of the virtual health management market. The digital diabetes management market subset itself is projected to record a CAGR of 17.8 percent between 2019 and 2026, according to Data Bridge Market Research (http://ibn.fm/PV4Yp).
If telemedicine services remain popular with patients and insurance providers continue to be responsive to reimbursing telehealth claims as a general expression of the trend, market analysts at McKinsey & Company predict that the market could reach a $250 billion capitalization (http://ibn.fm/SpuUG).
For more information, visit the company’s website at www.DarioHealth.com.
NOTE TO INVESTORS: The latest news and updates relating to DRIO are available in the company’s newsroom at http://ibn.fm/DRIO