Remote Heart Monitoring-Future of Patient Care!

Executive Summary

Heart disease continues to be a major death contributor in the United States. As a treatment option, Cardiologists implant electronic devices, like pacemakers, implantable cardioverter-defibrillator (ICD), biventricular pacemakers, and cardiac loop recorders. These devices are designed to help control or monitor irregular heartbeats in people with certain heart rhythm disorders and heart failure.

Remote Heart Monitoring is a growing standard of care for patients with implanted cardiac devices and is expected to grow with a healthy CAGR of nearly 8.0% through 2026. The heart monitoring market is driven by an increase in the prevalence of heart diseases, a growing aging population who are very susceptible to coronary heart diseases, technological developments in cardiac monitoring devices that minimize the chances of infection, and improved efficiency of devices.

With patients largely embracing virtual care—either by choice or necessity due to COVID-19 risks and fears—and payers supporting it, this is a great time for cardiologists to engage a RHM (Remote Heart Monitoring) company like ours. RHM has surged in the short term as more patients are exposed to telehealth during this public health crisis and appreciate its convenience.

Our Company will provide Remote Heart Monitoring by leveraging technology to deliver better patient care and a better patient experience. We will file our Medicare Enrollment Application with the Centers for Medicare & Medicaid Services (CMS) in New York. Once accredited with CMS we will bill RHM services to 2 CPT codes - CPT 93296 and G2066. Billing each CPT code is dependent on the type of implanted cardiac device. CPT Code 93296 can be billed every 91 days and CPT Code G2066 can be billed every 31 days. We will use CRM software to ensure that we are taking advantage of every billing opportunity. This not only maximizes our revenue but also provides the best care for patients with serious heart conditions.

To monitor these patients, we will hire only EKG Clinicians that are CRAT or CCT Certified. We will also use best in class technology, including Clinical, Electronic Health Record, Billing and CRM Software. These software solutions are efficient, secure and HIPAA compliant.

If we add just one Cardiology practice per year (avg. 500 patients), our financial projections indicate substantial revenue and net income for Years 1 to 6 as follows: