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GeckoSystems: New Medicare/Medicaid Payments Increase Personal Robot Demand
Sep 04, 2009 (Close-Up Media via COMTEX) --
GeckoSystems stated that the new Current Procedural Terminology (CPT) codes recently approved, for physicians only, will further enhance the cost/benefit ratios of personal companion robots for family care.
According to the company, these new CPT codes will increase physician productivity and revenue by billing for activities that have previously been considered unpaid administrative time for non-physical consultations such as telephonic or on-line consumer care using home monitoring medical devices.
GeckoSystems is a provider in the Mobile Service Robot (MSR) industry, promoting its development and usage with "Mobile Robot Solutions for Safety, Security and Service."
"While a home monitoring medical device may be stationary, as in GE/Intel, Philips et al offerings, or on a mobile personal companion robot such as our CareBot, we believe the ability to monitor throughout the home with only one set of robust sensors to be more cost effective than incurring the cost and deficiencies of various fixed sensors with multiple installations per room. Due to the ability of our CareBots to automatically follow the designated care receiver using GeckoNav and GeckoTrak, GeckoChat can verbally remind the care receiver of medication events, and enable vital sign taking of the care receiver. This new home medical appliance provides all the benefits of fixed, stationary monitoring systems, but with significant additional benefits such as surrogate companionship and easier video monitoring and conferencing. This, and other desirable benefits such as easy expansion to incorporate more vital sign monitoring subsystems (such as blood sugar and/or blood oxygenation levels), further reduces the total cost of ownership and increases personal robot demand for new home monitoring medical appliances, such as the CareBot," said Martin Spencer, President/CEO, GeckoSystems.
GeckoSystems noted that the substance of this scope in home telehealth marketplace has been illustrated by investments by major international companies such as GE, Intel, Philips, and others.
"The new Medicare/Medicaid payments for physicians' usage of home monitoring medical devices will cover multitasking, upgradeable personal companion robots such as the CareBot due to the cost effective, robust, and efficient coverage readily available with minimum modifications to the home itself other than the comparatively simple installation of WiFi coverage. These new economic realities improve the value proposition of our mobile robot solutions for this marketplace, enhance the present pent up demand, and increase ROI for our stockholders," said Spencer.
((Comments on this story may be sent to newsdesk@closeupmedia.com))
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