HeraMED and Metronomic will develop a postpartum care solution for US. Pic: Getty Images.
Health & Biotech
Special Report: To develop a postpartum care solution for the US market, HeraMED is inking a partnership with Metronomic, a digital health company focused on patient engagement and care management.
Medical data and technology company HeraMED (ASX: HMD) has signed a letter of intent with Metronomic to create a market-leading integrated postpartum care solution for the US market.
HeraMED aims to redefine how prenatal and postnatal care is delivered and experienced with its medical grade, clinically validated, end-to-end digital remote monitoring and maternity care platform HeraCARE.
The platform enables healthcare providers to monitor their maternity patients remotely with personalised care plans via a mobile app and a smart kit of connected devices including the company’s proprietary clinically validated and FDA cleared, foetal and maternal heart rate monitor HeraBEAT.
Metronomic is a digital health startup focused on building patient engagement solutions and services that improve clinical outcomes.
The company’s first platform is a specialist maternity care platform and patient app, Materno, which is currently deployed across multiple states and OBGYN groups in the US.
HeraMED said its integrated postpartum care solution with Metronomic would capitalise on the growing demand for improved postpartum healthcare, particularly around mental health monitoring.
Postpartum care has become an increasingly vital area of focus, especially with the recent expansion of Medicaid postpartum coverage in the US.
As of April 2023, 31 US states and the District of Columbia have extended Medicaid coverage to 12 months postpartum, significantly improving access to critical care services.
The shift is expected to open significant opportunities for digital health solutions, with as many as 1.5 million individuals potentially benefiting from these extended coverage plans.
HMD said it was worth noting that some states, like Florida, are providing up to US$900 for mental health support for mothers during their postpartum care, and this amount can rise to US$3,000 over the course of a year, depending on the state.
“The commercial opportunity within postpartum care is evolving incredibly quickly, said HeraMED’s CEO, Anoushka Gungadin.
“And by combining HeraCARE with the care management solution, billing and reimbursement capability of Materno into one integrated solution, we will have an opportunity to provide a market-leading offering.”
The collaboration aims to integrate and develop a comprehensive 12-month postpartum program, combining HeraCARE’s maternal health expertise with Materno’s advanced billing, reimbursement and care management capabilities.
HeraCARE currently supports patients at Broward Health, a key customer, where it is used across multiple care plans.
Materno, meanwhile, is currently deployed across 14 obstetric practices in 10 US states, covering more than 10,000 pregnancies annually.
The two companies believe there is enormous commercial potential for their combined offering as more US states evolve their financial support for postpartum care.
With growing demand for maternal health solutions, particularly those offering remote monitoring and mental health support, HeraMED and Metronomic believe they have a unique opportunity to lead the market.
Their partnership will focus on creating a complete care plan, alongside a revenue-sharing model that helps healthcare providers make the most of Medicaid and Medicare funding to improve services.
“We look forward to partnering with HeraMED to advance the digitalisation of maternity care and specially focused on evaluating the standard of care for mothers in postpartum,” Metronomic’s founder and CEO Dr Sujith Krishnan said.
“We are excited by this partnership and the potential to work with HeraMED to build a market-leading offering in postpartum care.”
The collaboration comes as institutional investors recognise potential of technology in antenatal and postnatal care.
Recently, HeraMED raised $1 million following a $3.1 million raise completed in October from institutional investors, which further strengthens its ability to drive its ambitious growth strategy.
This article was developed in collaboration with HeraMED, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Health & Biotech
Health & Biotech
Health & Biotech
