AI and Medical Technology company Echo IQ (ASX: EIQ has commenced integration of its EchoSolv-AS solution with Beth Israel Deaconess Medical Centre, a leading Harvard Medical Teaching Hospital in Boston, Massachusetts.
This marks Echo IQ’s flagship deployment of EchoSolv-AS with a major hospital group in the USA, following the recent receipt of FDA clearance.
Beth Israel is an academic medical centre specialising in the latest technologies and teaching initiatives. It hosts 743 licensed beds, manages 37,606 inpatient discharges per annum and has nearly 50,000 emergency department visits and 803,000 outpatient visits annually. The organisation undertakes approximately 30,000 echocardiograms yearly, and the integration is expected to further validate the application of EchoSolv-AS in real life practice.
The integration follows the completion of a successful trial of EchoSolv-AS at Beth Israel in September 2024, in which BIDMC researchers validated the technology’s key performance metrics.
During the trial, BIDMC tested EchoSolv-AS across routine echocardiographic reports from over 31,000 US Medicare beneficiaries at Beth Israel. EchoSolv-AS identified 98% of patients who met clinical guidelines for severe aortic stenosis (AS), as well as more than 1,000 patients who likely had severe AS, but did not meet clinical guidelines.
Non-guideline patients had the same risk of death as those with severe AS, but only 6.6% of them received life extending treatment, compared to 20.2% of patients who were diagnosed with severe AS.
The findings of the clinical trial were published in medical research journal, JACC Advancesii.
To integrate the technology, BIDMC will utilise EchoSolv-AS on a no-cost basis while the Company pursues relevant reimbursement codes for users of the technology under insurance. Reimbursement codes are anticipated to be secured in the coming quarters, marking an important commercial milestone which when achieved will allow for first revenues to be recognised.
The company says it is confident that this flagship integration and deployment through BIDMC will provide important exposure for EchoSolv-AS across the industry, as well as increased real-world data highlighting the considerable benefit of the technology. Echo IQ remains in advanced discussions with other US hospital groups and expects further deployments to materialise over the coming months.
“To have secured Beth Israel as our flagship deployment hospital in the US marks an early vote of confidence in the company’s EchoSolv-AS technology,” Incoming CEO, Dustin Haines, said.
“Furthermore, it follows an independent trial undertaken by BIDMC researchers which validated the key performance metrics and accuracy of EchoSolv-AS across the hospital’s extensive historical patient population. We look forward to providing further updates as this integration and others progress over the coming months.”