iRhythm: Reinventing Arrhythmia Monitoring
There has been a tendency in the health care products industries to design products that serve the maximum number of patients, in order to create the biggest markets. In pursuit of that all inclusive goal, medical device companies have often overengineered products, adding features - and costs - not necessary for the majority of patients. This has been the case in the field of arrhythmia monitoring. By challenging previous assumptions about arrhythmia monitoring, iRhythm believes it's developed a device that improves the diagnostic efficiency and ultimately the economics of arrhythmia care.
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Innovation in arrhythmia monitoring technologies, as well as new research showing how these devices may improve arrhythmia diagnosis and management, particularly in cryptogenic stroke patients, will help drive growth in the market for outpatient ambulatory cardiac monitoring devices, which is valued at approximately $1.5 billion in the US alone.
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The CHCF Health Innovation Fund is authorized to provide up to $3 million in debt or convertible equity to health care companies that meet the private non-profit foundation’s goals of increasing access to care for low-income patients or reducing costs. Most deals fall in the $250,000 to $1 million range.