At the beginning of the year, we started our Vision 2020 blog series. This week we will continue the series by delving into the markets we see as part of our vision.
2020 has been a bit crazy hasn't it? As a company, we have had to shift our sights with the fluidity of the COVID-19 conditions. In spite of our current environment, there are some things that don't change:
We sell remote patient monitoring equipment into home and hospital markets. This market is being driven by the aging population with an increasing incidence of chronic diseases. We deploy technology that allows chronic conditions to be diagnosed, monitored and managed outside of the traditional clinical setting. This approach helps lower the cost of health care for the entire system.
We are committed to helping organizations access their patient’s health data remotely. This year, we released Phase One of our Waveform Access Program. This program is designed to lower data retrieval costs and improve infant monitoring for our home and hospital market customers. It has proven timely for a market that suddenly needed to move remote because of the pandemic.
We sell CPAP masks and accessories to patient reseller markets. The CPAP market remains and important part of our business. This year, we have begun to focus on markets that reach first-time CPAP users by developing a new starter kit. The 3D Starter Kit has helped users get the right fit from home since many sleep labs have been closed over the last several months.
NICUs represent a specific segment within the hospital market that we are seeking to help through new technology. This market helps the most vulnerable patients which is why we created NeoPAP. In 2020, NeoPAP has been helpful in reducing the ventilator shortage in NICUs by providing breathing support for infants who don’t require intubation.
Our passion about helping patients to be healthy is apparent throughout our marketing communication. Our products provide better clinical outcomes and better quality of life for patients. When opportunities to improve patient health appear, we make them our first priority.
What market evolutions do you anticipate for the remainder of 2020?