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Exploring tech disruption in human health and sharing startup wisdom learned | Engineer | MD Candidate | Cornell | Columbia | Yale
Can we soon have physical therapy via headset and all at home? Only if payers approve, unfortunately. AppliedVR has just secured its first commercial payer partner, Highmark Inc.. AppliedVR makes an incredible VR device, the RelieVRx, to help manage chronic lower back pain at home. The program includes a headset and software helping patients through pain management exercises. Highmark's decision to expand coverage for RelieVRx now adds 4 million plan members to the startups potential customer base. The startup has acknowledged its concentrated, regional launch plan, where Highmark has nearly a 50% market share (Pennsylvania, Delaware, and West Virginia). They now work with 200 leading health systems on more than 60,000 patients. Chronic pain imposes a significant economic burden on the U.S., estimated at $635 billion annually, and is a massive driver of the opioid crisis. This step continues to highlight how payers remain true gate keepers in startup success across healthtech. FDA approval does not immediately confer next stage success. For better or for worse, payers continue to control patient optionality and confer market access. ~~~ 💡 Enjoy this post? ♻ Share with your network and follow Andrew Kuzemczak for more content like it!