ABBOTT PARK, Ill., April 15, 2015
/PRNewswire/ -- The cost of insurance premiums and employee
medical claims continues to rise in the
United States, which is especially challenging for people
living with chronic conditions such as diabetes. For people with
diagnosed diabetes, average, direct medical expenditures can reach
up to $7,900 per
yeari—almost as much as the annual cost of a moderate
food plan at home for a family of two.ii
Now a new, slim-designed Abbott blood glucose meter with high
accuracy is available over-the-counter at major U.S. retailers at a
lower cost than other branded meters and test strips, and without
the need for insurance paperwork and copays often needed to
purchase branded diabetes supplies. This new meter, the FreeStyle
Precision Neo Blood Glucose Monitoring System™, received Food and
Drug Administration (FDA) clearance and is now available at a cost
of between $14-$17 USD for 25 strips
and a one-time fee for the meter, which ranges from $22-$28 USD.
"People with diabetes depend every single day on trusted,
high-quality tools to monitor their glucose levels," said
Robert Ford, senior vice president,
Diabetes Care, Abbott. "This dependence makes it even more
important to ensure people have affordable access to accurate,
fast, and easy-to-use systems such as FreeStyle Precision Neo
system. Today, more than ever, consumers have more influence on
their healthcare decisions, and Abbott is focused on offering
products that provide the highest standard of accuracy, and are
also affordable and easily accessible over the counter."
According to the American Diabetes Association, the medical
costs of people living with diabetes are about 2.3 times higher
than for people without the disease.i
In addition, the process associated with healthcare insurance
paperwork can be a challenge for some individuals. To help provide
a solution, Abbott developed FreeStyle Precision Neo—the first
system from Abbott's FreeStyle family of products that is available
over the counter with preferred copay pricing, giving patients the
option to pay out of pocket to obtain their monitor and test
strips.
The FreeStyle Precision Neo System features include:
- Monitor's memory holds up to 1,000 readings
- Slim design; the device is thinner than a "AAA" battery
- Large touchscreen display with simple icons; easy-to-read
numbers
- Fast, five-second test time
- Small blood sample size
- E-Ink screen, short for electrophoretic ink, which displays the
appearance of a printed page
Individuals with diabetes who are interested in Abbott's
FreeStyle Precision Neo System should visit
https://www.myfreestyle.com/freestyle-precision-neo-blood-glucose-monitoring-devices.
About Abbott:
Abbott (NYSE: ABT) is a global healthcare company devoted
to improving life through the development of products and
technologies that span the breadth of healthcare. With a portfolio
of leading, science-based offerings in diagnostics, medical
devices, nutritionals and branded generic pharmaceuticals, Abbott
serves people in more than 150 countries and employs approximately
73,000 people.
Visit Abbott at www.abbott.com and connect with us on Twitter at
@AbbottNews.
i
http://www.diabetes.org/advocacy/news-events/cost-of-diabetes.html Economic
Costs of Diabetes in the U.S. in 2012, commissioned by the
Association Diabetes Association
ii
http://www.cnpp.usda.gov/sites/default/files/usda_food_plans_cost_of_food/CostofFoodJan2012.pdf
Based on a family of two, 19-50 years in age, moderate-cost plan at
$597.40 per month.
Photo -
http://photos.prnewswire.com/prnh/20150414/198703-INFO
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SOURCE Abbott