Cardio Diagnostics study shows new CHD test could save costs



CHICAGO – Cardio Diagnostics Holdings, Inc. (Nasdaq: CDIO) announced the publication of a study demonstrating that its PrecisionCHD™ test can significantly reduce the cost of medical care for coronary heart disease (CHD). The study, published in the journal Therapeutics Advances, shows that AI-powered multi-panel DNA testing could save a health plan with 1 million members up to $113.6 million annually.

PrecisionCHD™ uses a combination of epigenetic and genetic biomarkers analyzed by a proprietary artificial intelligence algorithm to detect stable CHD. The test evaluates six DNA methylation and ten genetic biomarkers, reporting sensitivity and specificity rates of 79% and 76%, respectively.

The study's budget impact model compared PrecisionCHD™ to traditional tests such as exercise electrocardiography, coronary computed tomography angiography (CCTA) and angiography. Results indicate that PrecisionCHD™ can provide significant cost savings to payers due to lower testing costs and reduced need for follow-up testing. These savings are consistent across different patient demographics and insurance plan designs.

David Frisvold, Ph.D., associate professor at the University of Iowa and lead author of the study, said wider use of PrecisionCHD™ could increase access to care and improve patient outcomes. Multimodal delivery of the test, including telemedicine and home blood sample collection, could further improve its cost-efficiency and accessibility.

The American Medical Association has granted PrecisionCHD™ a Current Procedural Terminology (CPT) Proprietary Laboratory Analysis (PLA) code effective April 1, 2024, and it has also been awarded an innovative technology contract by Vizient, a large group purchasing organization.

PrecisionCHD™ provides a scalable and less resource-intensive alternative for initial CHD testing, avoiding the risks associated with radiation and contrast dye. It aligns with the industry's shift toward precision medicine and value-based care (VBC) models that aim to improve patient outcomes while managing costs.

3rd party advertising. Not an offer or recommendation by Investing.com.See disclosures here or
Remove ads
.

Cardio Diagnostics, a company focused on artificial intelligence-driven precision cardiovascular medicine, believes PrecisionCHD™ will benefit healthcare stakeholders, including patients, providers and payers. The study's results, based on a press release statement, reflect the company's commitment to improving the prevention, detection and management of cardiovascular disease.

Investment Professional Insights

Cardio Diagnostics Holdings, Inc. (NASDAQ: CDIO) has recently made headlines for its PrecisionCHD™ test, which has shown potential to reduce the cost of coronary heart disease care. While the medical community may view the news as promising, investors are looking for different metrics to evaluate a company's financial health and stock performance. Cardio Diagnostics has a market capitalization of $14.9 million, according to InvestingPro, indicating it is a smaller player in the market. Despite the huge potential for sales growth, the company is not expected to be profitable this year, and its trailing twelve-month price-to-earnings ratio was negative at -1.68 through Q1 2023, indicating that the company has yet to generate positive earnings in the recent period.

The stock's price fluctuates greatly, with a six-month total return of 201.44%, but a sharp drop of 70.26% from last year. This may be a concern for investors considering the company's long-term performance. In addition, revenue growth indicators show that revenue grew by an impressive 1,696.32% in the past 12 months ending in the first quarter of 2023, indicating that the company's sales have surged. However, this should be viewed in the context of the company's overall financial health, including its cash burn rate and profitability prospects.

3rd party advertising. Not an offer or recommendation by Investing.com.See disclosures here or
Remove ads
.

InvestingPro Tips highlights that the stock has been quite volatile and took a big hit in the last month. This is in line with the company's recent price performance, which saw the company post a one-month total return of -51.41%. The relative strength index (RSI) shows the stock is currently in oversold territory, which may be of interest to investors looking for potential buying opportunities.

For those interested in a more in-depth analysis, there are additional InvestingPro Tips available that provide further insight into Cardio Diagnostics' financial and stock performance.To explore these tips and make smarter investing decisions, use the coupon code PRONEWS24 Get an additional 10% off with annual or biennial Pro and Pro+ subscriptions at Investing.com/pro/CDIO.

This article was generated with the support of artificial intelligence and reviewed by an editor. For more information, please see our terms and conditions.





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *