Good evening fellow shareholders.
What a ridiculous reaction to today's awesome news... obviously there is a large seller over the past few days lurking!! Once they run out of supply this is more than likely going to fly in my opinion...
Yeah a lot of investors didn't really understand the significance of this announcement. Sure at this stage it is not a diagnostic tool and will not replace home sleep study tests yet! But IMO I think that there is a good chance that it might in the future!! The double blind study that was conducted was comparable to that of a home sleep test machine. Meaning eventually you won't need to go through the inconvenience of taking home a sleep test machine and wiring yourself up... The first step according to Tony is to roll this out to the consumer market. Let the public test it and gain understanding as well as confidence. Meanwhile management will be looking at issuing codes for reimbursement purposes via employers, insurers or government. The software will be rolled out this quarter and will be revenue-generating. I'm hoping that reimbursement codes will be issued with the rollout and thus should become an approved assessment tool to replace the questionnaire tools which currently GPS use in order for their patients to receive Medicare rebates moving forward.. At this stage essentially what our company is trying to do is reduce the percentage of people that remain undiagnosed via ease of use and convenience rather than visiting your GP practice and filling out a STOP-BANG questionnaire as well as an Epworth Sleep scale questionnaire (ESS). One can complete this essentially by downloading the app. From there appropriate steps can be carried out such as conducting a home sleep test or a polysomnography test, this is the gold standard for diagnosis with a laboratory-based, technician attended polysomnography, also known as a PSG. Remember folks the first initial study that our company initiated was conducted in a laboratory against the Gold Standard. We got awesome results in that study also but the Gold Standard still has a higher level of accuracy thus we then tested against the home sleep tests and we succeeded with very accurate results comparable to that if not better than home sleep tests..
It's also worth noting troops that the SBQ ( stop bang questionnaire) has a high sensitivity in the low 90% region but extremely low specificity, in the mid 20% region and the ESS (Epworth sleepiness scale) has a very low sensitivity accuracy of around the 30% region and only a moderate specificity in the 70% region. This is the reason for why doctors normally combined the two to help improve the percentage outcomes but our screening tool easily beats this!! Hence why this should become the new norm as an approved assessment tool...
See below accuracy as just one example:
I must stress that if one wants to claim for a Medicare rebate you must receive a referral beforehand by your GP and you must fall into the risk category basket in order to undertake the next appropriate steps:
"Diagnostic services for sleep disorders
GPs will be able to directly refer eligible patients for diagnostic home-based (unattended) or laboratory-based sleep studies for obstructive sleep apnoea only when an approved assessment tool has been used. Further investigation of suspected sleep disorders can be ordered by referring eligible patients to qualified adult sleep-medicine practitioners and consultant respiratory physicians.
In order to directly refer patients for a diagnostic home or laboratory-based sleep study to confirm a diagnosis of sleep apnoea, GPs will need to use approved assessment tools, which include either one of the below:
STOP-BANG score ≥4
OSA50 score ≥5
Berlin Questionnaire – high risk
Plus an Epworth Sleepiness Scale score ≥8.
Having the power in the palm of ones hands via downloading this "sleepcheck" screening app will not only capture more of the population that remain undiagnosed but also provides a more convenient way if this can become an approved assessment tool which I am sure that the ResApp team are working on with the roll out into the app stores.. Rather than having to physically visit your GP this can now be remotely performed. This is GOLD!
"Dr Philip Currie, cardiologist at Cardio Respiratory Sleep Pty Ltd, and a principal investigator of the validation study of SleepCheck said, “SleepCheck fills a unique and very important place in evaluation of OSA between questionnaire-based screening and use of increasingly complex types
of sleep studies requiring multiple wires and sensors. Any person with a smartphone can be simply screened for OSA using SleepCheck. This screening is especially important for patients with pre-existing conditions such as heart disease, hypertension, atrial fibrillation, stroke, obesity, or type 2 diabetes where OSA is more likely, more severe and therefore more important to identify and treat.”
I asked Tony this afternoon what is currently comparable on the market in the app store he quoted snore lab as an example, has some similarities although still not as comparable... SnoreLab has over 1 million downloads on the Play Store:
Although the app is free to download it has in app purchases.
I think SleepCheck will become the editors choice and the most downloaded sleep apnea app out on the market especially if ResApp pushes the right marketing strategies IMO and if this becomes an approved assessment tool which I have no doubt it would based on the fantastic accuracy and convenience of this tool then this would most likely fly big time. They will probably charge something around the price of a coffee or a beer with in app purchases I would assume as well as sleep clinic referral ads potentially adding to the revenue stream...
Anyway this is my detailed analysis of today's announcement hope you enjoyed the read.
By the way TK also mentioned today that an Android version will ALSO be developed soon after IOS version..
Cheers
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RAP Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
(20min delay)