Join our daily newsletter At The Bell to receive exclusive market insights
- Proteomics International Laboratories (PIQ) says its world-first predictive diabetes test could save billions of dollars in medical costs in the next decade
- Independent budget modelling indicated potential net savings to Medicare and commercial insurers of US$384 billion (A$506 billion) over 10 years
- The PromarkerD test is considered the only test of its kind able to predict the onset of diabetic kidney disease in patients with type two diabetes
- The company affirms identifying diabetes early could delay or prevent costly late-stage interventions, such as dialysis and kidney transplants
- Proteomics International Laboratories shares are trading flat at 92.5 cents apiece at 11:32 am AEST
Proteomics International Laboratories (PIQ) claims its world-first predictive test for diabetes could save billions of dollars in medical costs over the next decade.
PIQ engaged independent consultant Boston Healthcare Associates to model the budget impact of using PromarkerD compared to the current standard of care.
According to PIQ, outcomes from the modelling indicated net savings to Medicare and commercial insurers of US$384 billion (A$506 billion) over 10 years.
The basis for the potential savings stem primarily from a slower progression of kidney diseases, benefits from delaying or preventing dialysis and kidney transplants, and a reduction in dialysis crashes.
Findings from the analysis are set to be presented at the virtual American Diabetes Association’s 81st Scientific Sessions on Friday June 25.
Proteomics International managing director Richard Lipscombe said the forecast emphasised the benefits of an early, accurate and cost-effective prognosis.
“Testing patients with type 2 diabetes every 6-12 months with PromarkerD would enable early intervention for those at high-risk of developing diabetic kidney disease,” Dr Lipscombe said.
“This would decrease the need for expensive late-stage interventions, such as dialysis and kidney transplants.”
The PromarkerD test is considered the only test of its kind capable of predicting the onset of diabetic kidney disease in patients with type two diabetes.
Proteomics International Laboratories shares were trading flat at 92.5 cents apiece at 11:32 am AEST.
