Echo IQ To Undertake Novel Heart Failure Clinical Study Using Artificial Intelligence

Echo IQ (ASX: EIQ) has developed a novel Artificial Intelligence algorithm for the detection of heart failure.

Currently, heart failure is clinically presented by a variety of cardiac conditions.

Some forms of heart failure are notoriously difficult to diagnose despite established guidelines.

This entails gaining the results of general and specific investigations which takes time.

Clinical study agreement

A clinical study agreement has been signed with Melbourne-based St. Vincent’s Institute of Medical Research to evaluate the efficacy of the algorithm.

Should clinical studies be successful an AI detection algorithm could prove a boon given the various cardiac conditions that present at hospitals.

A solution that improves earlier detection and diagnosis of heart disease as well as enhancing risk prediction could have sweeping benefits.

In 2021-2022, The Heart Foundation reported that 140,000 people self-reported as living with heart failure in Australia.

An average of 9 people die of heart failure every day. This equates to one person dying of heart failure every 3 hours.

In the U.S. heart failure is the world’s leading cause of hospitalisation in people over 65.

Re-hospitalisation accounts for 17% of U.S. healthcare expenditure according to Cardiovascular Research.

Apart from the cost of human lives, heart failure is a significant cost to the healthcare industry.

Echo IQ’s AI Solution

Echo IQ has developed a proprietary AI-backed technology to address earlier and more accurate identification of risk for aortic stenosis.

The company’s novel algorithm for heart failure leverages exclusive access to the NEDA (National Echo Database of Australia) database of echocardiographic records.

This algorithm is understood to identify the heart failure phenotype even when important information is not measured during the echo-cardiograph examination.

Current diagnostic techniques are said to fail to generate a definitive conclusion in more than 50% of cases.

If a solution was presented with a clearer risk assessment (based on echocardiographic measurements) before physical examination this could provide earlier warning signals.

The Approach

Success in the clinical studies could open several commercial applications for Echo IQ.

This could include licensing to hospital groups and treatment providers.

The company said it intends to prepare and submit an application for FDA clearance upon completion of the clinical studies.

This application could be made under an expedited 510(k) pathway.

Echo IQ’s specialist US health insurance advisors have indicated that the company’s solution may qualify for U.S. insurance reimbursement.

This is significant in the U.S. context as gaining reimbursement codes would alleviate costs associated with the company’s automated analysis and risk assessment of electrocardiogram data.

In addition, any solution could become a source of revenue for healthcare providers since it generates a (paid-for) fee each time it is used.

 

 

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