Strategic collaboration will empower Podimetrics to help prevent 70%+ of amputations and reduce hospital admissions for high-risk diabetes patients.
SAN FRANCISCO, CA, October 1, 2024 - Arbital Health, a technology company focused on accelerating the healthcare industry's transition to value-based care, today announced the long-term strategic collaboration with Podimetrics, creator of the SmartMat ProgramTM and integrated clinical care services that can help save the limbs and lives of complex patients with diabetes. The partnership’s strategic initiatives are aimed at quantifying risk and driving preventive, value-driven care for at-risk patient populations.
In 2022 alone, the total estimated cost of diagnosed diabetes in the U.S. was $412.9 billion, with costs expected to rise because of the exponential growth of the diabetes and pre-diabetes population. Complications from diabetes, such as preventable diabetic foot ulcers (DFUs) and amputations, are key drivers of increased costs of diabetes care. Patients at high-risk of DFUs can cost the health care system over $40,000 per member per year, and a single amputation may cost up to $100,000.
Arbital is supporting Podimetrics’ mission to end preventable amputations resulting from diabetes by helping to:
- Understand the size and severity of specific DFU issues.
- Deploy machine learning technology to drive a more proactive, predictive approach to identify patients most likely to experience a DFU.
- Power intelligent, risk-based contracting approaches that prioritize improved patient outcomes for Podimetrics’ health plan and provider partners.
“Arbital increases the effectiveness of value-based care (VBC) via accurate measurement of healthcare outcomes and empowering healthcare interventions like the SmartMat ProgramTM to achieve optimal results for patients, intervention sponsors/providers, and payers,” said Andrew Mackenzie, Chief Science Officer at Arbital Health. “Unlocking the power of VBC requires an accurate understanding of the economics of healthcare programs. With that knowledge, informed strategic business decisions can be made to better align to the Triple Aim of Healthcare."
Podimetrics SmartMat Program™ is the only easy-to-use, at-home mat that detects temperature changes in the foot, which are associated with early signs of inflammation, often a precursor to Diabetic Foot Ulcers (DFUs). The SmartMat Program has been cleared by the FDA, is HIPAA-compliant, has been approved by the American Podiatric Medical Association and is already being used by thousands of members (across 49 states) of leading health plans and risk-based healthcare providers, including the Veterans Health Administration.
“I believe our partnership with Arbital Health has significantly enhanced our ability to deliver innovative solutions in healthcare,” said Matthew Scalo, Chief Financial Officer at Podimetrics. “We’ve leveraged Arbital's expertise to not only assess risk more accurately but also to develop data-driven strategies that ensure sustainability and growth. This collaboration empowers us to better serve our clients and improve patient outcomes, ultimately fulfilling our mission of transforming healthcare through advanced technology and insights.”
Arbital Health is a strategic business partner that provides solutions to manage value-based care contracts through a platform and actuarial advisory expertise to simultaneously support payers, providers, point solutions, employers, and value-based care enablers throughout every stage of risk contracting.
About Podimetrics
Podimetrics is the creator of the SmartMat™ and integrated clinical and patient support services that can help save the limbs and lives of complex patients living with diabetes. Through partnerships with regional and national health plans and at-risk providers, such as the Veterans Health Administration, Podimetrics has helped prevent amputations associated with complex diabetes. By combining cutting-edge technology with best-in-class clinical and patient support services, Podimetrics earns high engagement rates from patients and allows clinicians to save limbs, lives, and money — all while keeping vulnerable populations healthy in their own homes. For more information, visit Podimetrics.com or follow us on LinkedIn.
About Arbital Health
Arbital Health’s vision is to become the neutral third-party adjudicator of outcomes-based contracts, unlocking and accelerating the $1 trillion shift to value-based care in the U.S. healthcare system. We aspire to be the trusted umpire adjudicating every outcome-based contract in healthcare, whether contracts are between life sciences companies and payers, payers and providers, or employers and digital health companies. We will make it simple to adjudicate contracts and unlock the trillion-dollar shift to value-based care. In doing so, we will help to solve healthcare’s biggest problem. For more information, and to explore career opportunities available, visit Arbital Health at ArbitalHealth.com or follow us on LinkedIn.
Arbital Health, co-founded by Travis May and Brian Overstreet, launched in November 2023 and recently announced its $10M Series A Financing Round and the acquisition of Santa Barbara Actuaries.
CONTACTS
Kim Carpenter
press@podimetrics.com
Jesica Freeman
press@arbitalhealth.com
