According to a report in The New York Times this week, two as yet unnamed insurance companies have already agreed to pay more than $100 a month for patients who use WellDoc's DiabetesManager. The reimbursement will not begin until some time early next year, according to the newspaper. The report cites an interview with WellDoc president Anand Iyer as its source.
MobiHealthNews reported late last year that WellDoc expected to secure CPT billing codes for its mobile-enabled diabetes management program this year.
Here's how the New York Times reported the expected reimbursement:
"WellDoc says that in a clinical trial, DiabetesManager was shown to reduce significantly the blood sugar levels in diabetes patients. Those results persuaded the Food and Drug Administration to give the system clearance to operate as a medical device. At over $100 a month, the cost is more akin to diabetes drugs than to most smartphone apps. But two insurance companies have already agreed to pay the bill for patients whose doctors ask them to use the system when it is available early next year, said Anand K. Iyer, the company’s president. He declined to name the companies."
WellDoc's partner AT&T recently inked a deal with Alere to integrate the DiabetesManager program with Alere's current offerings. Alere, in turn, quietly acquired MedApps (as MobiHealthNews exclusively reported), another home health monitoring company that has a focus on management services for a number of conditions, including diabetes.
WellDoc is also in the midst of raising its next round of funding -- according to a recent SEC filing the company has raised $500,000 of a hoped for $10 million round.