Client Spotlight: Readout Health
At the Concannon Insurance Agency, a large part of our business is learning the ins-and-outs of our clients’ industries. This process helps us uncover potential risks, and better understand how to customize insurance coverage for them.
As part of this learning journey, we’re excited to bring information about emerging technologies and brands to our readers and followers.
Today, we’re spotlighting one of our newest clients; a first-of-its-kind small business: Readout Health. A St. Louis-based company, Readout Health developed a Class 1 medical device called BIOSENSE. This handheld medical device and mobile app helps consumers and patients following a ketogenic diet or intermittent fasting better manage their own metabolic health. It is the only portable device that is both non-invasive and highly accurate -- tracking breath ketone levels and replacing traditional finger pricks.
Recently, we sat down with Jim Howard, President and CEO of Readout Health to learn more about this company and industry. Read on for more information about this revolutionary technology and how it can help consumers who want to take charge of their own health goals.
Tell us about Readout Health and its origins.
Jim Howard: “Readout is a digital biomarker company formed in 2018 to drive behavior modification in patients and consumers in metabolic health. The project relocated to St. Louis in 2019 and started manufacturing last year to both consumer and clinical markets.
We spent more than three years developing BIOSENSE with the goal of making in-home ketone testing available to patients, intermittent fasters, those concerned with weight management, endurance athletes and others wanting to be more in control of their health.”
How does the product work?
Jim Howard: “Readout builds handheld medical devices, including BIOSENSE (the only clinically-backed breath ketone monitor), that measure and analyze the breath, including ketones for ketogenic diets and chronic diseases.
Our patented deep lung sampling method of measurement is accurate enough to replace blood measurements to track fat metabolism rate. And, our technology lets consumers set a personalized goal for their daily time and depth in ketosis. We developed this so consumers can easily and accurately understand their own body’s responses to various activities and habits throughout the day.
Additionally, our team is building a number of digital therapeutic solutions that will be available on smartphones.”
When it comes to having the right insurance coverage and liability protection, what kinds of considerations would a health-focused technology company like yours need to keep in mind?
Jim Howard: “Since we are FDA-regulated and a digital health company, we require a higher level of security to ensure we’re protecting the data of our consumers and patients.
And, as more patient care is being delivered in the home through telehealth services, the landscape for business operations is changing rapidly. So, it is critical to stay on top of these changes and adapt accordingly.”
Why did you decide to work with the Concannon Insurance Agency for your coverage needs?
Jim Howard: “With the regulatory complexities that a digital health company like ours faces, it is important that we are aligned with a partner who understands and can keep up with the ever-changing landscape.
We’d worked with other insurance agencies in the past and were lacking the strategic support that the Concannon Insurance Agency was able to provide. Jim Concannon has had a number of on-site meetings with us and has asked all the right questions for the environment today -- and tomorrow. Their team’s highly organized and strategic approach has helped us ensure we’re obtaining the right coverage, which is particularly helpful for any small business that has a smaller staff.”
Take a look at Jim’s video testimonial of the Concannon Insurance Agency here, and follow Readout Health on social media: https://www.facebook.com/mybiosense.
