By giving cardiac surgery more transparency and better quality, Pediatric Cardiology (PC) plans to lower the cost of cardiomyopathy surgery by more than half, according to a new report.
The company, which will be founded by two pediatric cardiologists from Harvard University, will make the procedure easier for people to access, the Wall Street Journal reports.
“Pediatric cardiac surgery is a complex procedure that involves the insertion of a catheter through the heart and then removing the heart valve,” Pediatric Surgery is the company’s slogan.
“PC hopes to revolutionize the medical industry by making cardiac surgery affordable and convenient,” the company said in a statement.
“The price reduction for pediatric cardiac surgeries is expected to result in an additional $1.5 billion in patient cost savings in 2024.”
PC is also looking to expand its scope, with the company hoping to develop a new device that can monitor the heart, improve the cardiac surgeon’s efficiency, and help patients in developing their own treatment plans.
Pediatric cardiac surgeon Dr. J. Scott Fogg, who will serve as co-founder, said he is “excited about the opportunity to help improve cardiac care for children and adults.”
“PC’s technology has the potential to revolutionise the entire field of pediatric cardiac care,” he said.
“Our goal is to revolutionizing the way pediatric cardiac surgeons treat patients, so we are excited to be working with Pediatric Imaging.”
The company will offer cardiac surgery for a fee, but the initial price will be lower than other cardiac surgeries.
PC plans to offer its technology to more hospitals, including hospitals that are already offering the procedure, and the company will work with the US Department of Veterans Affairs to make the technology available to more vets, the WSJ reports.
PC has raised $25 million in funding, but it’s not yet clear how much it will cost.