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Economic Evaluation of Lumos Diagnostics’ FebriDx® Point-of-Care Test Highlights $2.5 Billion in Potential U.S. Healthcare
6 October 2021 at 23:02 GMT+11
Economic Evaluation of Lumos Diagnostics’ FebriDx® Point-of-Care Test
Highlights $2.5 Billion in Potential U.S. Healthcare Cost Savings Annually

Journal of Health Economics and Outcomes Research Publishes Cost Impact of the
Novel, Rapid Point-of-Care Test

Business Wire

SARASOTA, Fla. -- October 6, 2021

Lumos Diagnostics (ASX: LDX), a leader in rapid point-of-care (POC) diagnostic
technologies, today announced that the Journal of Health Economics and
Outcomes Research (JHEOR) has published an economic study that concludes using
the FebriDx® test to guide antibiotic treatment for patients presenting with
acute respiratory infections (ARIs) could potentially result in $2.5 billion
of annual cost saving for the U.S. healthcare system.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20211006005571/en/

The FebriDx point-of-care test from Lumos Diagnostics could reduce U.S.
healthcare costs by $2.5 billion annually, according to a study published by
the Journal of Health Economics and Outcomes Research. Download the study at
https://doi.org/10.36469/001c.27753. (Photo: Business Wire)

The FebriDx point-of-care test from Lumos Diagnostics could reduce U.S.
healthcare costs by $2.5 billion annually, according to a study published by
the Journal of Health Economics and Outcomes Research. Download the study at
https://doi.org/10.36469/001c.27753. (Photo: Business Wire)

The journal article, authored by Avalon Health Economics, is entitled,
“Economic Evaluation of FebriDx®: a Novel Rapid, Point-of-Care Test for
Differentiation of Viral versus Bacterial Acute Respiratory Infection in the
United States.”^1 According to the study, the diagnostic accuracy of FebriDx
to distinguish between bacterial and viral ARIs has been evaluated in
multi-center U.S. clinical trials. The FebriDx test was determined to have
both high sensitivity (up to 95%) to detect a bacterial infection and up to
99% negative predictive value (NPV) to safely rule out a bacterial infection.

“Rapid, accurate and actionable information can help increase diagnostic
certainty and reduce healthcare costs,” said John Schneider PhD, CEO of Avalon
Health Economics. “FebriDx is a simple fingerstick blood test that
differentiates viral from bacterial acute respiratory infection within 10
minutes and thereby helps doctors focus antibiotic treatment where it is
needed to combat the growing threat of antibiotic resistance.”

The potential cost savings attributed to using FebriDx are based on a budget
impact model developed by Avalon Health Economics that uses published data
from 2010 to 2020. The model considers the total cost of antibiotic treatment,
antibiotic resistant infections, antibiotic-related adverse events, and
point-of-care testing on a national level. Key data referenced in the article
include:

* There are more than 150 million outpatient and emergency department (ED)
visits for ARIs each year in the U.S. and about half of the antibiotics
prescribed during these visits are considered medically unnecessary.
* According to the U.S. Centers for Disease Control and Prevention, 2.8
million antibiotic resistant infections occur annually in the U.S., 35,000
of which are fatal including complications from Clostridium difficile
(C-diff) infections.
* Antibiotic-related adverse events are a common cause of both
hospitalizations and ED visits, accounting for over 16% of all outpatient
adverse drug event visits.
* Outpatient settings are an important focus for future antibiotic
stewardship as they account for 59% of all antibiotic expenditures from
2010 to 2015.

Key drivers of antibiotic misuse include difficulty differentiating viral from
bacterial infection due to overlapping clinical presentation and long
laboratory-based testing turnaround times. This diagnostic uncertainty,
coupled with clinician concern about missing bacterial infections, as well as
patient expectation of receiving a prescription, can lead to inappropriate
antibiotic prescriptions. This economic analysis determines that using FebriDx
to manage patients with suspected ARIs in outpatient settings may lead to a
considerable reduction in unnecessary antibiotics, which could lead to a
reduction in antimicrobial resistance and adverse events.

The study highlighted potential for meaningful cost savings even though the
study’s budget model excluded other notable cost factors such as:

* Potential cost savings due to enhanced workflow and efficiency in
emergency and urgent care settings
* Rapid identification of bacterial infection and reduced risk of morbidity
or sepsis associated with delayed treatment
* Costs and delays associated with other testing
* Acceleration of antimicrobial resistance and so called “superbugs”
associated with the ongoing COVID-19 pandemic

The FebriDx test is under review and these intended use and performance claims
have not been approved by the U.S. Food and Drug Administration (FDA). FebriDx
is not currently available for sale in the U.S. FebriDx is approved by the
corresponding regulatory agencies and available to qualified healthcare
providers in Europe, Canada and Australia.

The study published in the JHEOR can be accessed at
https://doi.org/10.36469/001c.27753.

^1 Dick, Katherine, and John Schneider. "Economic Evaluation of FebriDx®: A
Novel Rapid, Point-of-Care Test for Differentiation of Viral versus Bacterial
Acute Respiratory Infection in the United States." Journal of Health Economics
and Outcomes Research 8.2 (2021): 56-62.

About Lumos Diagnostics

Lumos Diagnostics specializes in rapid, cost-effective, and complete
point-of-care (POC) diagnostic test technology to help healthcare
professionals more accurately diagnose and manage medical conditions. Lumos
offers customized assay development and manufacturing services for POC tests
and proprietary digital reader platforms. Lumos also directly develops,
manufactures, and commercializes novel Lumos-branded POC tests that target
infectious and inflammatory diseases.

For more information visit lumosdiagnostics.com or febridx.com.

Forward-Looking Statements

This announcement contains forward-looking statements, including references to
forecasts. Forward-looking statements are not guarantees of future performance
and involve known and unknown risks, uncertainties, assumptions, and other
important factors, many of which are beyond Lumos' control and speak only as
of the date of this announcement. Readers are cautioned not to place undue
reliance on forward-looking statements.