Research

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Siren’s Remote Diabetic Foot Temperature Monitoring Drives Net Savings of More Than $8,000 Per Patient Per Year, According to A New Analysis

Remote diabetic foot temperature monitoring saves $8,027 per patient per year on average compared to standard of care.

Remote diabetic foot temperature monitoring saves $8,027 per patient per year on average compared to standard of care according to a new cost-effectiveness analysis. The analysis, which was based on a methodology developed by independent health economics firm TTi Health Research & Economics, confirms Siren’s impact on bringing down the tremendous cost involved with diabetic foot ulcers and amputations.

Diabetes constitutes a substantial financial burden to the US healthcare system. In 2016, diabetes was found to be the third-highest cost in terms of US healthcare spending. Annual direct costs for diabetes care in the US are upwards of $176 billion, and as much as one-third of this cost is related to lower-extremity issues, including both diabetic foot ulcers and diabetes-related amputations.

Early detection is the key in the care of diabetic foot problems as studies have shown up to 75% of DFUs can be avoided if at-risk patients are identified early. Temperature is considered one of the best diagnostics tests in determining whether or not a foot is likely to get an ulcer, helping patients catch potential injuries early, avoiding expensive foot ulcers, amputations and hospitalizations. 

The analysis shows that remote foot temperature monitoring is a cost-effective addition to standard of care in patients with diabetic neuropathy at a moderate-to-high risk of DFU and subsequent amputation. 

  • The use of remote foot temperature monitoring saves $38,593 per additional ulcer avoided. 
  • The mean annual cost per patient for remote temperature monitoring + standard of care is $10,303, while the mean annual per-patient costs associated with standard of care alone are $18,330, resulting in mean per-patient payer savings of $8,027 per year.
  • Further, reduction in foot ulcers and associated complications may result in improvements in the patient’s quality of life and mental health.

A recent study from Stanford Healthcare shows amputations have increased by 49% during COVID, emphasizing the need for remote monitoring technologies. Foot temperature monitoring for the prevention and early detection of diabetic foot ulcers is evidence-based and recommended in clinical practice. Use of remote temperature monitoring technology like Siren Socks is crucial in bringing down down the increasing cost of diabetic foot ulcers. 

About Siren

Siren is a virtual care company that uses novel medical devices and remote patient monitoring to improve patient outcomes. The company developed Neurofabric, the first of its kind microsensor-embedded textile, to enable a new type of medical devices. These devices integrate seamlessly into users' everyday lives and allow patients and doctors to make more accurate, real-time treatment decisions. Siren Socks, the company's first commercialized product, is an FDA-registered temperature monitoring sock for the early detection of inflammation that leads to foot ulcers in people with diabetes.

About Siren Socks

About Siren SocksSiren Socks are innovative smart socks that detect potential issues with your feet. Siren Socks are an FDA-registered Class I medical device and are for people with neuropathy.The socks measure your foot temperature. Temperature monitoring has been shown to help prevent diabetic foot ulcers in multiple clinical studies clinical studies over the past 20 years and is considered the gold standard in diabetic foot care.The information from the socks is monitored by licensed nurses who contact you regularly to check on your health and the status of your feet. Your doctor review any issues that arise and determine if a clinic visit is necessary.Siren Socks are covered by Medicare, Medicare Advantage, and many private insurance plans.Interested patients can find a Siren-Certified Provider near them and begin the enrollment process by clickinghere.

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