The California HealthCare Foundation (CHCF) today announced a $1.5 million investment in iRhythm Technologies, developer of the Zio® Patch ambulatory cardiac rhythm monitoring system.
The Zio Patch is an efficient, effective, and convenient diagnostic service that can be initiated at the point of care and worn for up to 14 days. The continuous recording by the Zio Patch can help identify, or rule out, arrhythmia in patients with transitory symptoms and possibly eliminate unnecessary visits to specialists. The Zio Patch has been used on more than 85,000 patients throughout the United States.
"iRhythm's Zio Patch technology has the potential to increase access to timely diagnosis and care for patients in both rural and urban environments," said Margaret Laws, director of the Innovations for the Underserved program at CHCF and manager of the CHCF Health Innovation Fund. "The simplicity of their approach to ambulatory cardiac monitoring minimizes logistical difficulties, promotes increased patient compliance, and streamlines the process for patients and clinicians — making this a solution that can bring great value to underserved Californians."
CHCF is also planning to fund studies at two California safety-net hospital systems to research levels of patient and provider satisfaction, cost effectiveness, and diagnostic efficacy related to the iRhythm solution.
The CHCF Health Innovation Fund invests in sustainable, scalable business models with the potential to significantly lower the cost of care or improve access to care for underserved populations. Other investments include Asthmapolis, CareInSync, Direct Dermatology, Lifewave, PipelineRx, and SIRUM.
About iRhythm Technologies
iRhythm provides innovative and cost-effective diagnostic monitoring solutions that facilitate early diagnosis and treatment decisions, with the goal of ultimately improving patient health outcomes and reducing wasteful health care spending. For more information, visit www.irhythmtech.com.
About the California HealthCare Foundation
CHCF is leading the way to better care for all Californians, particularly those whose needs are not well served by the status quo. We work to ensure that people have access to the care they need, when they need it, at a price they can afford.
CHCF informs policymakers and industry leaders, invests in ideas and innovations, and connects with changemakers to create a more responsive, patient-centered health care system.