ALRT — ALR Technologies, Inc.
Stock Guru Profile ALR Technologies Inc. (ALRT – OTCBB)
Reimbursement is the magic word in any facet of the healthcare business. And the pre-requisite to reimbursement is cost efficiency.
That’s where ALR Technologies come in. Their medical management devices and the ongoing compliance service in reminding and monitoring medication adherence is a resimburseable expense by more and more healthcare providers. Their system provides automatic email alerts to whomever is designated to receive information when a patient is noncompliant.
Here are the facts.
In a recent study published in the New England Journal of Medicine $100 billion in healthcare costs are added annually here in the United States because an astounding 43% of all Americans believe that drug compliance is unnecessary. Other barriers to medication compliance include financial reasons, dangerous side effects, a belief that the drugs are ineffective and asymptomatic patients do not perceive value from the drug.
Raise your hand if you have ever fallen into one of these categories: if you have explained to a child that they must continue with their antibiotic even though right now, today, and yesterday, they, “Feel all better;” if you have decided just this week not to take your medication until it is convenient to get to the pharmacy; if you missed a few days and decided, hmm, maybe I don’t need it after all. This happens with small health matters such as antibiotic treatment but the reality is it happens with large healthcare issues as well, including organ transplants and in these instances compliance is crucial.
It is not hard to understand that medication compliance means real cost savings for health insurers. We will be closely examining the facts and studies that support this industry in our quest to understand why this new concept is becoming part of the fabric of medical treatment in this country.
A study that appeared in Medical Care last year was one of the first to demonstrate savings, finds that every additional dollar spent on medication for diabetes saves $7 in medical costs and that those with diabetes who are non-compliant are twice as likely to be hospitalized. The medical cost savings are $5.10 for each additional dollar
spent on medications for high cholesterol and $3.98 savings for drugs for patients with high blood pressure.
The study indicated that money spent on medication treatments results in substantial savings when the costs of adherence to drug therapy are compared with the costs associated with hospital stays and visits to the emergency room and doctor’s office.
Voila: a health management industry is born and enter ALR Technologies. Their revenue stream is found in the ongoing service they provide in medication management through their devices.
More about these devices and why they work – and why Medicaid finds them cost effective and worthy of the magic words in the healthcare industry: REIMBURSEMENT APPROVED!
Stay tuned for more on this company.
Phone: (336) 722-2254 SOURCE: ALR Technologies, Inc. and New England Journal of Medicine and Managed Healthcare Executive; Sep2006, Vol. 16 Issue 9, p44-51, 4p
Safe Harbor and Forward Looking Statement:Certain statements set forth in this article constitute “forward-looking statements.” Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company’s actual results and financial position to differ materially from those included within the forward-looking statements, including the Company’s ability to obtain sufficient financing to fund both its internal growth opportunities and acquisition strategy. More information about the potential risks and factors that could affect the Company’s business and financial results is included in the Company’s filings, available via the United States Securities and Exchange Commission at http://www.sec.gov/.
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