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Abbott (ABT) Launches Telehealth Tool for Neuromodulation
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Abbott (ABT - Free Report) recently launched NeuroSphere Virtual Clinic, the company’s FDA-approved remote chronic pain management technology. Amid the pandemic when demand for digital and telehealth supports is reaching new heights, this latest addition to the company’s neuromodulation line seems to be a strategic fit.
NeuroSphere at a Glance
As per Abbott, this is the first-ever virtually connected technology that allows patients to remotely communicate with physicians and ensure proper settings and functionality. Through this, patients can also receive new treatment settings remotely as required.
For patients suffering from chronic pain or movement disorders and who have difficulties in accessing care especially during the pandemic time, Abbott claims that this NeuroSphere Virtual Clinic can increase patient access to optimal treatment remotely.
NeuroSphere Virtual Clinic helps clinicians to prescribe new treatment settings remotely to the patient's neurostimulation device using the clinician programmer app and a new, simple and secure remote care connection. This is now available within the proprietary Abbott patient controller app.
On average, people living with movement disorders will travel over 150 miles to access specialists offering deep brain stimulation (DBS). Without alternative solutions, such as digital and/or telehealth options, these patients are more likely to delay or forego much-needed care. NeuroSphere Virtual Clinic brings the convenience and flexibility of telemedicine to neurostimulation therapy, thus providing chronic pain and movement disorder patients with Abbott devices. Medicare will cover remote programming services as a telehealth benefit through the duration of the public health emergency.
A Strategic Development
As provided by Abbott, a Deloitte data says that on average people living with movement disorders will travel over 150 miles to access specialists offering deep brain stimulation (DBS).
When there are no alternative digital and telemedicine solutions, these patients are more likely to delay or forego the required treatment. At this point, NeuroSphere Virtual Clinic is effective in helping patients to remotely access neurostimulation therapy.
Abbott also noted that Medicare will cover remote programming services as a telehealth benefit through the duration of the public health emergency. This will definitely increase uptake of this new treatment option.
Abbott’s Digital Health Progress
The company’s most recent digital health developments include two cardiac rhythm defibrillation products under the Gallant brand that consist of Bluetooth capabilities to align with the strategy in remote monitoring and digitally connected care. It has also developed and rolled out a digital solution Navica that pairs with the company’s BinaxNOW and Panbio tests, which enable people to receive and display test results on their mobile devices.
Price Performance
Shares of the company have gained 43% in a year’s time compared with the industry’s growth of 20.4%.
ConforMIS has a projected long-term earnings growth rate of 42%.
IDEXX Laboratories has a projected long-term earnings growth rate of 16%.
Bioanalytical Systems has a projected long-term earnings growth rate of 15%.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
Image: Bigstock
Abbott (ABT) Launches Telehealth Tool for Neuromodulation
Abbott (ABT - Free Report) recently launched NeuroSphere Virtual Clinic, the company’s FDA-approved remote chronic pain management technology. Amid the pandemic when demand for digital and telehealth supports is reaching new heights, this latest addition to the company’s neuromodulation line seems to be a strategic fit.
NeuroSphere at a Glance
As per Abbott, this is the first-ever virtually connected technology that allows patients to remotely communicate with physicians and ensure proper settings and functionality. Through this, patients can also receive new treatment settings remotely as required.
For patients suffering from chronic pain or movement disorders and who have difficulties in accessing care especially during the pandemic time, Abbott claims that this NeuroSphere Virtual Clinic can increase patient access to optimal treatment remotely.
NeuroSphere Virtual Clinic helps clinicians to prescribe new treatment settings remotely to the patient's neurostimulation device using the clinician programmer app and a new, simple and secure remote care connection. This is now available within the proprietary Abbott patient controller app.
On average, people living with movement disorders will travel over 150 miles to access specialists offering deep brain stimulation (DBS). Without alternative solutions, such as digital and/or telehealth options, these patients are more likely to delay or forego much-needed care. NeuroSphere Virtual Clinic brings the convenience and flexibility of telemedicine to neurostimulation therapy, thus providing chronic pain and movement disorder patients with Abbott devices. Medicare will cover remote programming services as a telehealth benefit through the duration of the public health emergency.
A Strategic Development
As provided by Abbott, a Deloitte data says that on average people living with movement disorders will travel over 150 miles to access specialists offering deep brain stimulation (DBS).
When there are no alternative digital and telemedicine solutions, these patients are more likely to delay or forego the required treatment. At this point, NeuroSphere Virtual Clinic is effective in helping patients to remotely access neurostimulation therapy.
Abbott also noted that Medicare will cover remote programming services as a telehealth benefit through the duration of the public health emergency. This will definitely increase uptake of this new treatment option.
Abbott’s Digital Health Progress
The company’s most recent digital health developments include two cardiac rhythm defibrillation products under the Gallant brand that consist of Bluetooth capabilities to align with the strategy in remote monitoring and digitally connected care. It has also developed and rolled out a digital solution Navica that pairs with the company’s BinaxNOW and Panbio tests, which enable people to receive and display test results on their mobile devices.
Price Performance
Shares of the company have gained 43% in a year’s time compared with the industry’s growth of 20.4%.
Zacks Rank and Other Key Picks
Currently, Abbott carries a Zacks Rank #2 (Buy).
A few other top-ranked stocks from the broader medical space are ConforMIS, Inc. , IDEXX Laboratories, Inc. (IDXX - Free Report) and Bioanalytical Systems, Inc. , each carrying a Zacks Rank #2. You can see the complete list of Zacks #1 Rank (Strong Buy) stocks here.
ConforMIS has a projected long-term earnings growth rate of 42%.
IDEXX Laboratories has a projected long-term earnings growth rate of 16%.
Bioanalytical Systems has a projected long-term earnings growth rate of 15%.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>