iab-You’re very welcome, im glad to answer these questions. You are correct the “payers” are insurance companies. either the hospital system purchases the devices and provides them to the patient and take the hit on the costs per device in hopes of reducing readmission and avoiding any penalties from medicare and the like.
You are correct, while 10$ per month can be a significant to those on a reduced fixed income, we have not had any backlash on this dollar figure. We have found that folks have a certain amount dedicated to healthcare in their monthly expenditures. With our device they were able to reduce spending elsewhere (multiple co-pays for office visits) which afforded them the ability to pay the data charge. We are currently in development to get this cost down even further by tapping into certain dedicated wireless networks. The data we use and transmit is really minimal, but now we are at the mercy of our wireless partner (qualcomm) and their 2net hubs.
We are not currently coded for reimbursement, but hope to gain access to that in the future.
Lastly, we are 510k registered and submitted if you will, but we are considered a class I device (non medical) so all we had to do is undergo FCC testing and file 510k paperwork and documents, but we were not subject to the testing rigors of class II devices and beyond. Thankfully!! we are going through FDA with a couple of our other devices and wow is that a slow, and very needy process.