HealthBeacon PLC (EURONEXT:HBCN, OTCQX:HBCNF) has launched a new affordability program in the US for its smart Injection Care Management System (ICMS) to reduce the cost and increase access to critical support for patients that take injectable medications in the home.
The company noted that as many as 1 in 2 patients that take injectable medications in their home fail on treatment within the first 12 months of initiating therapy and many do not have a practical way to properly dispose of used injections creating environmental and health risks.
HealthBeacon said its Smart Sharps Bin technology and Injection Care Management System address both of those issues by increasing adherence, reducing missed doses, providing 24/7 care support, injection site management and a more sustainable home waste collection service.
The service reduces the burden of care and supports patients that are managing chronic diseases such as Diabetes, Obesity, Growth Disorders, Cardiovascular Disease, Severe Asthma, Crohns, Rheumatoid Arthritis and a range of Inflammatory Conditions.
Through the HB Affordability Program - launched with Hamilton Beach Brands Inc - the services are now available for as little as $1 per day, for eligible Medicare enrolees for low to no costs through their providers and is supported by FSA/HSA eligibility. The program is an important step towards making the leading injection support system more financially accessible, reflecting the financial challenges that many US consumers face that are managing chronic diseases, the company said.
New pricing models for the ICMS are included as part of the affordability programme for patients seeking to purchase the device directly. With these new pricing options, patients can now buy the ICMS using a number of payment options. These options allow significant savings for those seeking longer-term access to the technology whilst also providing month-to-month payment options priced at $40 per month for those seeking more flexibility. Longer-term payment options see the technology available to users for as little as under $1 a day for a two-year contract.
“The addition of coverage eligibility for Medicare patients coupled with new pricing options increases access to healthcare for individuals and families during these challenging financial times,” said HealthBeacon CEO and co-founder, Jim Joyce in a statement. “For many people, staying on track with their injectable medications is key to managing a chronic condition. However, medication routines can be difficult to follow and disposing of used sharps must be managed carefully.
"Our system helps patients effortlessly stay on track with their injection schedules while safely, discreetly, and conveniently disposing of used sharps, while improving outcomes through increased adherence. We are delighted to continue to develop our partnership with Hamilton Beach in delivering this advanced medication management system directly to patients in the US and Canada. The launch of our new Affordability Program allows us to do just that at a larger scale with more accessible pricing.”
The ICMS has improved medication adherence for patients on injection therapy by up to 26%. It includes a US Food & Drug Administration (FDA) cleared Smart Sharps Bin device technology, Companion Medication Adherence mobile app, as well as a sustainable mail-back waste management solution.
Meanwhile, patients can now also use their flexible spending account (FSA) card or health savings account card (HSA) to purchase the ICMS directly on www.SmartSharpsBin.com.
Headquartered in Dublin, HealthBeacon is an Irish digital therapeutics company that develops smart tools for managing medications for patients in the home.
The HealthBeacon Injection Care Management System tracks adherence and persistence with medication schedules through the provision of medication management reminders, safe and sustainable sharps disposal devices, educational tools, and artificial intelligence (AI) driven data analytics.
The company has expanded its offering to growth management with the launch of its integrated Smart Scale and oral adherence with the launch of HB Smart Pills which integrate with its existing technology.
HealthBeacon operates across Europe, North America and the United Kingdom, employs more than 70 people and has obtained more than 30 design and utility patents. The company’s mission is to become the world’s leading digital therapeutics platform for patients managing medications in the home.