Aclarion Inc., a Broomfield health technology company that uses biomarkers and proprietary algorithms to identify chronic low back pain, has announced an important milestone with the second payer coverage for its back pain diagnostic tool Nociscan. The London health insurance company Aviva, one of the top four providers of private medical insurance in the UK, has joined AXA in covering Nociscan in the Greater London Area.
With Aviva’s coverage, Nociscan is now accessible to around 45% of patients with private insurance in the Greater London spine care market. The coverage decision is considered an important validation from UK payers and forms part of the steady adoption and value creation that typically follows secured payer coverage decisions.
Brent Ness, CEO of Aclarion, remarked upon the significance of this coverage growth, and its implications for a successful trajectory for Aclarion. He said, “This second payer coverage decision builds the momentum we expect to see in markets once one payer recognizes the advantages of paying for Nociscan.”
In the UK, self-pay and private medical insurance account for nearly 70% of private hospital revenues. Aviva holds an estimated 14% of the private medical insurance market with its 1.2 million insured customers. Incoming AXA, the second largest private medical insurer, increases the availability of Nociscan to a 45% slice of London’s insured patients.
This crucial diagnostic tool is being put to use by The London Clinic, one of the UK’s largest independent hospitals, to help diagnose and treat patients suffering from chronic low back pain, a condition that is estimated to affect up to a third of UK adults each year.
Nociscan is a first-in-class platform that helps doctors noninvasively distinguish between painful and nonpainful discs in the lumbar spine. Aclarion relies on Magnetic Resonance Spectroscopy, proprietary signal processing techniques, biomarkers, and artificial intelligence algorithms to optimize treatments. The company’s primary market at the moment is chronic low back pain, addressed by their flagship product, Nociscan.
Source: Press Release