Patients Receiving BVA Stayed 2.5 Fewer Days in Hospital Resulting in Reduced Costs of Care
Oak Ridge, TN, Oct. 03, 2022 (GLOBE NEWSWIRE) -- Daxor Corporation, the global leader in blood volume measurement technology, today announces new data validating the benefits of the Company’s BVA-100 diagnostic blood test in reducing hospital length of stay (LOS) for heart failure (HF) patients. Data were presented at the Heart Failure Society of America (HFSA) Annual Scientific Meeting (ASM) 2022 – which brought together the world’s leading experts in heart failure from September 30th thru October 3rd, 2022, in Washington, DC.
“This important study shows that BVA has the ability to help clinicians treat patients more effectively so that they get out of the hospital faster and have better results in terms of mortality and readmission when compared to those who did not receive BVA-guided care. Annual costs for HF treatment are estimated at $30.7 billion and expected to grow to nearly $70 billion by 2030 if we fail to improve on current treatment outcomes. Notably, in-hospital care comprises the majority of costs across all HF categories, averaging $14,000 per admission,” stated Michael Feldschuh, CEO and President of Daxor Corporation.
“Shorter length of hospital stay has an enormous potential for hospital cost savings as hospitals receive a single block payment under DRG rules of reimbursement. All hospital systems are rated under this metric and seeking ways to improve it is one of the reasons we have adopted BVA locally,” stated Dr. John L. Jefferies, University of Tennessee Health Science Center, Memphis, TN.
We are pleased to announce that Daxor had another strong presence at this year's HFSA,” said Jonathan Feldschuh, Chief Scientific Officer of Daxor Corporation. “The clinical evidence continues to demonstrate that our innovative BVA-100 blood test uniquely allows physicians to understand underlying HF blood volume derangements, providing them with accurate, actionable data to individualize treatment plans in both the inpatient and outpatient settings - improving outcomes and reducing the total cost of care.”
The study titled “Length of Stay After Blood Volume Analysis in Hospitalized Heart Failure” compared both hospital admission and discharge dates, allowing the calculation of pre- and post-BVA LOS for all patients. Those who received BVA-guided treatment on the day of admission to the hospital had a highly significant (p <0.001) lower total LOS than controls (2.04 vs. 4.56 days) and significantly improved outcomes (lower 30-day readmissions and 365-day mortality).
About Daxor Corporation
Daxor Corporation (Nasdaq: DXR), is the global leader in blood volume measurement technology focused on blood volume testing innovation. We developed and market the BVA-100® (Blood Volume Analyzer), the only diagnostic blood test cleared by the FDA to provide safe, accurate, objective quantification of blood volume status and composition compared to patient-specific norms. Over 60,000+ tests have been performed at leading hospital centers across the U.S., enhancing hospital performance metrics in a broad range of surgical and medical conditions, including significantly reducing mortality and readmissions in heart failure and critical care. Daxor has several ongoing multicenter trials in the areas of COVID-19 and heart failure treatment with support from the NIH and is under contract developing analyzers to improve combat casualty care with the U.S. Department of Defense. Daxor's mission is to advance healthcare by enabling optimal fluid management with blood volume analysis. Daxor’s vision is optimal blood volume for all. For more information, please visit our website at Daxor.com.
Forward-Looking Statements
Certain statements in this release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, statements regarding the impact of hiring sales staff and expansion of our distribution channels. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this release, including, without limitation, those risk associated with our post-market clinical data collection activities, benefits of our products to patients, our expectations with respect to product development and commercialization efforts, our ability to increase market and physician acceptance of our products, potentially competitive product offerings, intellectual property protection, FDA regulatory actions, our ability to integrate acquired businesses, our expectations regarding anticipated synergies with and benefits from acquired businesses, and additional other risks and uncertainties described in our filings with the SEC. Forward-looking statements speak only as of the date when made. Daxor does not assume any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations Contact:
Bret Shapiro
Sr. Managing Partner, CORE IR
1-516-222-2560
brets@coreir.com
