iCAD, Inc. (NASDAQ: ICAD), a global medical technology leader
providing innovative cancer detection and therapy solutions, today
announced it is showcasing its ProFound AI Suite of clinically
proven solutions for breast cancer detection, density assessment,
and short-term risk evaluation in booth #228 at the AHRA 2023
annual meeting, taking place July 9-12 in Indianapolis, IN. The
Company will also be assisting organizations in determining their
return on investment (ROI) for adopting ProFound AI via an
easy-to-use ROI tool, which is available in iCAD’s booth at the
meeting.
“iCAD's Breast AI Suite is the only solution on the market today
offering a complete portfolio of breast cancer detection, density
assessment, and risk evaluation solutions that are clinically
proven to increase cancer detection, assist radiologists in
assessing short-term cancer risk, improve workflow, and enhance
patient care. But when it comes to measuring impact, we don’t just
stop at improving clinical outcomes. Our technology not only
maximizes our customers’ clinical performance, it also boosts their
bottom line,” said Dana Brown, President and CEO of iCAD, Inc. “We
know with any investment, it’s important to measure its return,
whether a facility is aiming to reduce reading times or backlog,
increase screening volume or improve cancer detection. Our ROI tool
enables prospective customers to envision how an investment in our
ProFound AI solution can pay off for clinicians, facilities, and
patients.”
iCAD’s Breast AI Suite includes ProFound AI Detection®, which
became the first AI technology for 3D mammography to be FDA-cleared
in 2019, ProFound AI® Density Assessment, which simplifies and
standardizes breast density assessments, and ProFound AI® Risk, the
world’s first commercially available technology that provides an
accurate short-term breast cancer risk estimation that is truly
personalized for each woman, based only on her mammogram.
“As more hospitals and imaging facilities adopt iCAD’s Breast AI
Suite, customers increasingly report the Company’s technologies
offer a range of benefits beyond cancer detection,” said Ms. Brown.
“Customers consistently confirm that our technology has empowered
them to reduce reading times, enhance efficiency, and increase
throughput, allowing them to accommodate more patients without
compromising the quality of care. Additionally, our technology is
clinically proven to minimize false positives, which can help to
reduce unnecessary follow-up tests and spare patients from undue
anxiety.”
Midstate Radiology Associates, LLC doubles screening
breast ultrasound with iCAD’s Breast AI Suite
In less than 10 years, Midstate Radiology Associates, LLC grew
from serving a single hospital with two outpatient imaging centers
to now serving four Hartford HealthCare hospitals, along with 18
outpatient imaging centers and three vein centers. During this
timeframe, the team grew from seven radiologists and two advanced
practice providers (APPs) to more than 50 radiologists and 11
APPs.
“We experienced such exponential growth that it became a
challenge to accommodate the sheer volume of patients we were
seeing. Due to our organic and inorganic strategies, we experienced
such growth year-over-year, so we really had to focus on improving
operational efficiencies, for both radiologists and frontline
teams. We knew we needed an AI solution to help us more efficiently
serve our patients,” said Tom Cappas MBA, MS RT (R)(MR), Chief
Operating Officer (COO) at Midstate Radiology Associates, LLC,
headquartered in Wallingford, CT. “We are laser-focused on adopting
the latest and most innovative technologies at our imaging
facilities, and iCAD’s comprehensive solutions fit nicely into our
intense focus on preventative care, so we decided to adopt ProFound
AI Detection and PowerLook Density Assessment in 2020.”
Although breast cancer screenings slowed during the pandemic,
the radiologists at Midstate Radiology Associates soon found iCAD’s
solutions helped them more efficiently manage the accumulation of
patients that needed to be screened as the threat of COVID began to
subside. After using the technology for about a year, they also
noticed their breast density assessments were becoming more
standardized, and other ancillary services, such as screening
breast ultrasound, had increased substantially.
“With PowerLook Density Assessment, our density assessments have
become more standardized and uniform, which has more than doubled
our utilization of screening breast ultrasound and ultimately helps
us identify which women would benefit from supplemental screening.
And with ProFound AI, our team is overall more confident and
efficient in reading even the most complex mammography cases,” said
Mr. Cappas.
ProFound AI increased patient volume by 15% without
adding additional staff at Kettering Health
Kettering Health upgraded all of its 15 breast centers with 3D
mammography in 2019, but the team soon discovered the AI solution
on some of their mammography units was not supporting radiologists
adequately. After extensive research, the organization chose
ProFound AI Detection as its AI solution for DBT, and ultimately
decided to implement this technology across its enterprise in
2020.
“We are proud to offer ProFound AI Detection on every mammogram
across our entire network,” said Sally Grady, Director, Kettering
Health Breast Centers, Kettering Health. “With ProFound AI, our
radiologists are more accurate and reading faster than ever across
the board. Last year we performed more than 66,000 screening
mammograms at our facility, and with ProFound AI, we are able to
find smaller cancers that are not easily detectable. We are now
reading in almost real-time – in fact, patients are increasingly
telling us how impressed they are that their results are ready
before they even walk out the door.”
Ms. Grady also feels iCAD’s technology sets the facility apart
as a leader in breast care on a local level, which has helped to
drive patient volume and increase ancillary services while
enhancing patient care at the facility.
“We’ve increased our patient volume by 15% without adding
additional staff, and our numbers show that not only are more women
choosing Kettering Health for their breast imaging, but they are
also choosing to return to us for any follow-up care that is
needed,” said Ms. Grady. “We believe ProFound AI is a great tool
that helps set us apart from other competitors in the area.”
ProFound AI improves cancer detection and reading time
at Naugatuck Valley Radiology, without increasing
recalls
As a full-service diagnostic imaging network with three
locations in Connecticut, Naugatuck Valley Radiology offers a
comprehensive range of diagnostic imaging services, including 3D
mammography.
“When we adopted iCAD’s ProFound AI software into our practice
in 2021, the deployment and integration of iCAD’s technology into
our mammography workflow and PACS was seamless, which enabled our
team to leverage this powerful tool right away,” said Yeo Yang
Shin, MD, breast imaging radiologist at Naugatuck Valley Radiology
in Waterbury, CT. “It acts as another set of eyes in the detection
of subtle breast abnormalities, without increasing our rate of
recalls. We’ve also found it decreases our interpretation times on
average about 30 seconds per case.”
As the team at Naugatuck learned to trust the technology more,
they found the technology not only enhanced workflow and confidence
for radiologists, it helped to elevate the caliber of patient care
at the facility.
“With this additional layer of intelligence, we can provide a
higher level of assurance and accuracy in our diagnosis, which is
crucial in the fight against breast cancer,” said Maria Benvenuto,
operations manager at Naugatuck Valley Radiology in Prospect, CT.
“ProFound AI enables our radiologists to focus their expertise
where it’s most needed and has reinforced our mission to provide
the highest standard of care to our patients.”
About iCAD, Inc.Headquartered in Nashua, NH,
iCAD® is a global medical technology leader providing innovative
cancer detection and therapy solutions. For more information, visit
www.icadmed.com.
Forward-Looking
Statements
Certain statements contained in this News Release constitute
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements
about the expansion of access to the Company’s products,
improvement of performance, acceleration of adoption, expected
benefits of ProFound AI®, the benefits of the Company’s products,
and future prospects for the Company’s technology platforms and
products. Such forward-looking statements involve a number of known
and unknown risks, uncertainties and other factors which may cause
the actual results, performance, or achievements of the Company to
be materially different from any future results, performance, or
achievements expressed or implied by such forward-looking
statements. Such factors include, but are not limited, to the
Company’s ability to achieve business and strategic objectives, the
willingness of patients to undergo mammography screening in light
of risks of potential exposure to Covid-19, whether mammography
screening will be treated as an essential procedure, whether
ProFound AI will improve reading efficiency, improve specificity
and sensitivity, reduce false positives and otherwise prove to be
more beneficial for patients and clinicians, the impact of supply
and manufacturing constraints or difficulties on our ability to
fulfill our orders, uncertainty of future sales levels, to defend
itself in litigation matters, protection of patents and other
proprietary rights, product market acceptance, possible
technological obsolescence of products, increased competition,
government regulation, changes in Medicare or other reimbursement
policies, risks relating to our existing and future debt
obligations, competitive factors, the effects of a decline in the
economy or markets served by the Company; and other risks detailed
in the Company’s filings with the Securities and Exchange
Commission. The words “believe,” “demonstrate,” “intend,” “expect,”
“estimate,” “will,” “continue,” “anticipate,” “likely,” “seek,” and
similar expressions identify forward-looking statements. Readers
are cautioned not to place undue reliance on those forward-looking
statements, which speak only as of the date the statement was made.
The Company is under no obligation to provide any updates to any
information contained in this release. For additional disclosure
regarding these and other risks faced by iCAD, please see the
disclosure contained in our public filings with the Securities and
Exchange Commission, available on the Investors section of our
website at http://www.icadmed.com and on the SEC’s website at
http://www.sec.gov.
Contact:
Media Inquiries:Jessica Burns, iCAD
+1-201-423-4492jburns@icadmed.com
Investor Inquiries:iCAD Investor Relationsir@icadmed.com
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