In the market for neuromodulation devices, advances in artificial intelligence, closed-loop therapies and wearable technologies are beginning to transform patient care by providing more precise, personalized care with a focus on improving patient outcomes. For the treatment of chronic intractable pain, companies are diversifying into adjacencies and are developing or acquiring less invasive, more targeted therapies in order to offer patients more treatment options earlier in the pain continuum of care. At the same time, a changing reimbursement landscape is placing downward pressure on pain providers to demonstrate therapeutic efficacy while decreasing the cost of care.
Amid these market dynamics, one company that is well-positioned for growth in neuromodulation is NXTSTIM. At the recent 17th World Congress of the International Neuromodulation Society (INS) in Lisbon, NXTSTIM presented 24-month data on its EcoAI device and was awarded one of the top five abstracts at the meeting. To find out more about the company, the EcoAI System and its latest research, SmartTRAK interviewed NXTSTIM Founder Krishnan Chakravarthy, MD, PhD. To listen to the interview, click on the following video (27:30 min). A link to download a complete transcript of the interview is also provided below.
SmartTRAK: Hi everyone. Anne Staylor here with SmartTRAK. I'm at the International Neuromodulation Society Annual Meeting in Lisbon and today I have the pleasure of speaking with Dr. Krishnan Chakravarthy, who is a well-known figure in the field of neuromodulation and the founder of NXTSTIM. He is also an affiliate professor in anesthesiology and nanoengineering at UC San Diego and VA San Diego. It's nice to see you again.
Krishnan Chakravarthy, MD, PhD: Nice to see you, Anne. Thank you.
So thanks for talking with me today. Over the last several years in meetings, I keep talking to you about NXTSTIM, the EcoAI device and seems to me that right now with all the stuff going on in PNS and all the different types of neuromodulation devices, the zeitgeist is kind of ready to talk to you about this device, plus you are one of the top five abstracts at this meeting and you had some wonderful 24-month results that I wanted to talk to you about. But before we get into that, I thought maybe you could tell us a little bit about NXTSTIM, the EcoAI device and what your vision is for the company and technology.
KC: Sure. Fantastic. So a little bit about being born in South of India, it sometimes puts perspective into how we think about healthcare globally. And I've been watching over the last decade, I think our specialty, especially in neuromodulation and the reality is that when you think about the number of devices that we put in yearly, it's about 100 to 150,000, which is about a 0.2% market penetration. And I think ultimately for something to truly be accessible to the common population where at least in the US, you have the benefit of insurance. There are places all over the world where you don't have access to healthcare where you can afford 100 to 150,000 cost device after all of the different parts between the vendor to the hospitals to all of that. In a way, it's very challenging and it also becomes a incredible vision to see that really permeate to the general masses.
So in 2019, when we founded the company, we really focused on three important things: ...
Click the button below to download the full transcript of SmartTRAK Executive Editor, VP & GM of Neuro Therapies Anne Staylor's interview with NXTSTIM Founder Krishnan Chakravarthy and learn how NXTSTIM is reimagining pain management.
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