QT Medical, Inc. (QT Medical), a medtech company focusing on electrocardiogram (ECG or EKG) technology, announces today that it raised $12 million in Series B financing. This funding will accelerate QT Medical’s market penetration, global expansion, product pipeline development, and long-term strategic planning.
Today, there are various types of ECGs that doctors can order to
provide clear information about a patient’s cardiovascular wellness.
Xpress ECG is beneficial in minimizing the exposure to potential infections and allows for reimbursements 3-5x times higher than an office ECG test. For example, a typical office ECG test billed under CPT code 93000 reimburses $18 only. By using the Xpress ECG service, physicians can order a complete medical grade ECG test online at the current cost of $30. Using the new RPM codes (99457 and 99458) since this ECG test is done by patients at home, plus the interpretation code 93010, physicians can be reimbursed for up to $102 for each Xpress ECG test.
QT Medical is pleased to announce our new strategic partnership with LEEWAY ELECTRONICS CO., LTD. in Taiwan
The QT Medical PCA 500 12-lead ECG system uses a unique wearable wrap that contains all the leads and eliminated the need to connect separate wire electrodes to the patient. The simplicfication of lead placement enables the system to be used by patients at home.
QT Medical launched 12-Lead ECG test to skilled nursing facilities (SNFs) and telehealth services. The ECG tests will be performed using PCA 500, a complete 12-lead ECG platform that includes a super-compact recorder, a prepositioned electrode strip, mobile apps, computer interpretation, and HIPAA-compliant cloud.