REDWOOD CITY, Calif., Jan. 22, 2020 (GLOBE NEWSWIRE) — Biotricity Inc. (OTCQB:BTCY), a medical diagnostic and consumer healthcare technology company, announced today that it is finalizing its FDA filing for its next generation, advanced ECG analysis software with an expectation to file a 510(k) clearance application with the US FDA by end of February 2020.
The global remote patient monitoring market is expected to reach $1.8 billion by 2026, and with this growth comes the inevitable deluge of data that will threaten to inundate healthcare professionals with a surplus of information, much of which will be non-actionable biometric data, wasting valuable time and resources.
Today, traditional ECG monitoring requires significant human oversight to review and sift through incoming patient data for the purposes of determining which data is actionable and relevant. As such, it is imperative for biotechnology companies to build software that can analyze and synthesize this data with the purpose of distilling it down to the important information that requires clinical intervention.
Biotricity’s new ECG Analysis Software is purposefully engineered to improve analytic performance and identify anomalies by parsing through data trends and pinpointing information from which actionable insights can be gleaned. When fully cleared and implemented, the new software will significantly reduce the current human capital requirements for such tasks, reducing analysis time from 5 minutes to 30 seconds. This tenfold improvement will allow the company to divert valuable human resources to more high-level operations.
“Our advanced software is going to drive scalability up while driving costs down,” said Dr. Waqaas Al-Siddiq, Biotricity Founder and CEO. “Our software will preclude the ongoing challenges that many healthcare professionals face when it comes to a surplus of patient data – with our technology, we will be able to improve data analytics so that doctors can benefit from receiving patient information that actually requires their attention and intervention.”
The Company’s flagship product, Bioflux®, is a complete solution for cardiac monitoring and diagnosis, consisting of the Bioflux® device, proprietary software, and a 24/7 monitoring center that merges seamlessly with physicians’ existing platforms and workflows. Unlike traditional cardiac monitoring solutions, Bioflux® extends the support a patient receives at a care facility into the patient’s home. The device monitors a patient’s ECG in near real-time, constantly analyzing and collecting data on the device and periodically uploading to the cloud via embedded cellular technology. In cases where anomalies or emergencies are detected, the data is transferred to a call center for appropriate action.
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