ALR Technologies SG Ltd (ALRTF)

[GrandeS]

Great news for ALRT. Check out the news in most newspapers today about $750 billion in healthcare waste and abuse. The ALRT HeC system is perfect for waste and abuse in the diabetes glucose testing market. This should help speed up the process. The following was information on this very subject from the CEO of ALRT in a news release earlier this year. “There are many reasons that diabetes is so costly, including disease prevalence, poor patient adherence, and lack of accountability around blood glucose self-testing supplies covered by both public and private payers,” added Sidney S. Chan, Chairman and Chief Executive Officer at ALR Technologies. “Recent reports from the U.S. Department of Health and Human Services, Office of Inspector General (available to the public at http://oig.hhs.gov), indicate the loss of nearly $218 million annually from the Medicare program attributed to poor documentation around self-testing supplies. These statistics do not account for losses incurred by Medicaid or private payers. Improving accountability around diabetes self-glucose testing supplies alone could save the U.S. healthcare delivery system billions of dollars over the next five years.”

Mr. Chan continued, “A recent study from the Temple University School of Pharmacy indicates that the U.S. could save up to $8.1 billion annually by improving patient adherence to diabetes treatment plans. Currently, there is very little oversight around the buying, selling and appropriate use of diabetes self-glucose testing supplies. Attempts at oversight are fragmented, primarily paper-based, and rely on unverifiable patient reporting. Our HeC system provides solutions to overcome these obstacles and potentially save the country billions of dollars while providing better healthcare for its citizens. We feel that the timing could not be better for our company and shareholders as we are emerging as a leader in the chronic disease management space.”