Press releases

Information on the number of requests for payment from insurers submitted in the fourth quarter of 2017

Medicalgorithmics S.A., a provider of state-of-the-art system and algorithm solutions for cardiac diagnostics, has published information about the quarterly number of requests for payment from insurers filed by Medi-Lynx Cardiac Monitoring, LLC in the U.S. due to services delivered using the PocketECG technology.

In the fourth quarter of 2017, 24,761 requests were filed, which is 3% higher than in the third quarter. In December 2017 alone, the number of requests for payment was 7,795, which is 7% lower than in November last year. As usual, the number of doctor examination decreases in the holiday period, so the number of requests submitted in December was lower than in November. The number of examinations performed in the entire 2017 was 94,982 and increased by about 70% in comparison to 2016.

“In 2017, we conducted a record number of heartbeat monitoring sessions using PocketECG, our diagnostic system. The goal for 2018 is at least a 20-precent increase in the number of examinations and, consequently, filed requests. At the same time, we are planning to maintain 30-precent EBITDA profitability. We want to achieve these goals mainly by increasing sales in the United States. Therefore, we recruit specialists to the sales department and invest in marketing. We are still enhancing our arrhythmia detection solution, even though right now it is the most advanced product with several advantages over other products available on the market,” said Marek Dziubiński, the President of the Board of Medicalgorithmics S.A.

“In 2018, we intend to initiate tests of our cardiac rehabilitation system in the U.S. and efforts to create a reimbursement code for this service. The next priority will be an increase of sales on European markets and continued activities aimed at obtaining a reimbursement for multi-day heart monitoring,” Marek Dziubiński added.