DarioHealth will Provide Remote Patient Monitoring Services to MediOrbis for New Offering to Medicare Patients with Diabetes
Approximately 20% of Medicare's 60M+ Members have Diabetes
NEW YORK, April 20, 2021 /PRNewswire/ -- DarioHealth Corp. (Nasdaq: DRIO), a pioneer in the global digital therapeutics market, announced today the launch of a new virtual care initiative with MediOrbis, a telehealth provider specializing in chronic conditions. Eligible Medicare members who have diabetes can receive convenient virtual care for their diabetes, including telehealth delivered by MediOrbis and remote patient monitoring through DarioHealth's AI-powered digital chronic care platform under their existing Medicare benefit.
As part of the launch the new virtual care program will be made available to Dario's approximately 75,000 members with diabetes, of which 30% are over 65. This will enable current Dario members to access high quality, convenient care at a potentially lower out-of-pocket cost. In addition, the virtual care program will be marketed to qualified Medicare members who aren't currently using Dario's offering. This represents a significant expansion opportunity for Dario's remote patient monitoring business, as CMS has estimated that 1 in 5 of its 62 million Medicare beneficiaries has diabetes. The commercial terms of the MediOrbis agreement are consistent with the terms of Dario's other RPM contracts.
"We are excited to partner with MediOrbis to launch this virtual care service for qualified Medicare beneficiaries. Offering our existing users this program, provides users with enhanced services and support at a lower cost. Increasing our offerings to existing customers across all of our market segments is part of our strategy to improve value to our users while increasing revenue per member and lowering our average member acquisition cost." stated Rick Anderson, President and General Manager North America. "We are excited to partner with MediOrbis and support the expansion beyond Dario's existing user base to the broader Medicare population, which we believe has the potential to be a multi-million dollar remote patient monitoring opportunity for Dario."
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