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Study Favors Masimo's (MASI) SafetyNet for Better Patient Outcome
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Masimo Corporation (MASI - Free Report) recently announced favorable findings of a two-part retrospective study wherein researchers assessed the impact of remote patient monitoring (“RPM”) of COVID-19 patients using Masimo SafetyNet on hospital length of stay (“LOS”). The findings were published in Telemedicine and e-Health.
It should be noted that Masimo SafetyNet is a remote patient management and telehealth solution. It uses the tetherless Masimo Radius PPG SET pulse oximetry and a smartphone app to transmit continuous home-based patient monitoring data to hospital clinicians.
The latest positive study outcome is a stepping stone for Masimo’s RPM business across the world.
Significance of the Study
Researchers found that there exists a significant association between shorter hospitalization and patients discharged with Masimo SafetyNet and without home oxygen. Thus, they concluded that home telemonitoring after COVID-19 patients are discharged may be a safe tool that can lessen the mean duration of hospitalization and create more bed capacity.
The researchers also noted the growing demand for acute care and hospital bed space during the pandemic. Hence, they aimed to understand whether the use of a home-telemonitoring system could help optimize care, including earlier discharge from the hospital, for patients with or suspected to have contracted the COVID-19 infection. At the same time, said researchers sought to ensure the supportability of health care capacity and resources for those with more urgent needs, as well as minimizing the risk of viral transmission.
They noted that their study supports other work, which suggests that home telemonitoring may lead to earlier hospital discharge, thereby making more beds available. However, the study did not find a strong association between reduction in LOS and patients discharged with Masimo SafetyNet and oxygen therapy. They believe that even in the face of falling number of COVID-19 cases, hospital capacity difficulties may be faced as hospitals navigate ongoing COVID-19 admissions in addition to providing care for non-COVID-19 patients.
Industry Prospects
Per a report by Grand View Research, the global RPM system market was valued at $1,282.0 million in 2021 and is anticipated to reach $6.7 billion by 2030 at a CAGR of 20.2%. Factors like the recent pandemic, increasing geriatric population and cost-effectiveness of the treatment are expected to drive the market.
Given the market potential, the positive study outcome is likely to provide a significant boost to Masimo’s business globally.
Notable Developments
In May, Masimo announced the findings of a favorable retrospective study in which researchers evaluated the potential ability of Masimo PVi (pleth variability index) to guide emergency room triage decisions for pediatric patients with signs of obstructive respiratory disease (such as an asthma attack or a reactive respiratory tract disease).
The same month, Masimo announced its first-quarter 2022 financial results, wherein it reported solid top-line growth. The company also recorded robust order shipments in the reported quarter. The expansion of the company’s installed base is also impressive.
Also in May, Masimo announced the limited market release of the W1 health watch for consumers. The Masimo W1 offers accurate, continuous measurements and actionable health insights in a personal, discreet, lifestyle-friendly wrist-worn device.
Price Performance
Shares of Masimo have lost 47.7% in the past year compared with the industry’s 25.8% fall and the S&P 500's 12.4% decline.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, Masimo carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Patterson Companies, Inc. (PDCO - Free Report) and ShockWave Medical, Inc. (SWAV - Free Report) .
AMN Healthcare, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 1.1%. AMN’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 15.6%.
AMN Healthcare has gained 13.5% against the industry’s 46% fall in the past year.
Patterson Companies, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 9.6%. PDCO’s earnings surpassed estimates in all the trailing four quarters, the average beat being 16.5%.
Patterson Companies has lost 0.1% compared with the industry’s 10.9% fall over the past year.
ShockWave Medical, sporting a Zacks Rank #1 at present, has an estimated growth rate of 44.9% for 2023. SWAV’s earnings surpassed estimates in all the trailing four quarters, the average beat being 189.9%.
ShockWave Medical has gained 6.9% against the industry’s 25.8% fall over the past year.
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Study Favors Masimo's (MASI) SafetyNet for Better Patient Outcome
Masimo Corporation (MASI - Free Report) recently announced favorable findings of a two-part retrospective study wherein researchers assessed the impact of remote patient monitoring (“RPM”) of COVID-19 patients using Masimo SafetyNet on hospital length of stay (“LOS”). The findings were published in Telemedicine and e-Health.
It should be noted that Masimo SafetyNet is a remote patient management and telehealth solution. It uses the tetherless Masimo Radius PPG SET pulse oximetry and a smartphone app to transmit continuous home-based patient monitoring data to hospital clinicians.
The latest positive study outcome is a stepping stone for Masimo’s RPM business across the world.
Significance of the Study
Researchers found that there exists a significant association between shorter hospitalization and patients discharged with Masimo SafetyNet and without home oxygen. Thus, they concluded that home telemonitoring after COVID-19 patients are discharged may be a safe tool that can lessen the mean duration of hospitalization and create more bed capacity.
The researchers also noted the growing demand for acute care and hospital bed space during the pandemic. Hence, they aimed to understand whether the use of a home-telemonitoring system could help optimize care, including earlier discharge from the hospital, for patients with or suspected to have contracted the COVID-19 infection. At the same time, said researchers sought to ensure the supportability of health care capacity and resources for those with more urgent needs, as well as minimizing the risk of viral transmission.
They noted that their study supports other work, which suggests that home telemonitoring may lead to earlier hospital discharge, thereby making more beds available. However, the study did not find a strong association between reduction in LOS and patients discharged with Masimo SafetyNet and oxygen therapy. They believe that even in the face of falling number of COVID-19 cases, hospital capacity difficulties may be faced as hospitals navigate ongoing COVID-19 admissions in addition to providing care for non-COVID-19 patients.
Industry Prospects
Per a report by Grand View Research, the global RPM system market was valued at $1,282.0 million in 2021 and is anticipated to reach $6.7 billion by 2030 at a CAGR of 20.2%. Factors like the recent pandemic, increasing geriatric population and cost-effectiveness of the treatment are expected to drive the market.
Given the market potential, the positive study outcome is likely to provide a significant boost to Masimo’s business globally.
Notable Developments
In May, Masimo announced the findings of a favorable retrospective study in which researchers evaluated the potential ability of Masimo PVi (pleth variability index) to guide emergency room triage decisions for pediatric patients with signs of obstructive respiratory disease (such as an asthma attack or a reactive respiratory tract disease).
The same month, Masimo announced its first-quarter 2022 financial results, wherein it reported solid top-line growth. The company also recorded robust order shipments in the reported quarter. The expansion of the company’s installed base is also impressive.
Also in May, Masimo announced the limited market release of the W1 health watch for consumers. The Masimo W1 offers accurate, continuous measurements and actionable health insights in a personal, discreet, lifestyle-friendly wrist-worn device.
Price Performance
Shares of Masimo have lost 47.7% in the past year compared with the industry’s 25.8% fall and the S&P 500's 12.4% decline.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, Masimo carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Patterson Companies, Inc. (PDCO - Free Report) and ShockWave Medical, Inc. (SWAV - Free Report) .
AMN Healthcare, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 1.1%. AMN’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 15.6%.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
AMN Healthcare has gained 13.5% against the industry’s 46% fall in the past year.
Patterson Companies, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 9.6%. PDCO’s earnings surpassed estimates in all the trailing four quarters, the average beat being 16.5%.
Patterson Companies has lost 0.1% compared with the industry’s 10.9% fall over the past year.
ShockWave Medical, sporting a Zacks Rank #1 at present, has an estimated growth rate of 44.9% for 2023. SWAV’s earnings surpassed estimates in all the trailing four quarters, the average beat being 189.9%.
ShockWave Medical has gained 6.9% against the industry’s 25.8% fall over the past year.