BG Medicine is a life sciences company focused on the discovery, development, and commercialization of novel cardiovascular diagnostics. The company's first commercial product, the BGM Galectin-3 Test, is for use in patients with heart failure and is available in both the United States and Europe.
The company announced today that it will be launching a major initiative to help hospitals reduce the number of unplanned readmissions for heart failure patients. The initiative will begin at the American Heart Association Scientific Sessions 2012 taking place November 3-7 in Los Angeles. Representatives at the BG Medicine booth (#1737) will be there to highlight the role that Galectin-3 blood testing can play in helping the medical community address the urgent need to reduce hospital readmission rates.
Currently, even with optimal care, nearly a one-fourth of all Medicare heart failure patients are readmitted to the hospital within 30 days. This makes heart failure a major factor of hospital readmission rates, far ahead of heart attack and pneumonia. Because heart failure patients with elevated galectin-3 levels are two-to-three times more likely to be readmitted within 30 days to a hospital, identifying these high risk patients through galectin-3 testing is a potentially valuable and cost-effective in combating these readmissions.
BG Medicine believes the company will benefit and be able to grow the market for its Galectin-3 Test thanks to recent government rulings. Effective October 1, 2012, new rules from the federal Centers for Medicare & Medicaid Services have made reducing unplanned hospital readmissions a critical priority. Hospitals that exceed the Medicare thresholds will be assessed financial penalties that may reach $1 billion by 2015, if improvements are not made.
For additional information about BG Medicine and its Galectin-3 Test, visit bg-medicine.com
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