CEO Quarterly Update

As we reflect on the second quarter of 2024, I want to take a moment to share our progress and reflect on the essential role healthcare professionals play in our mission at Monarch Medical Technologies.

This quarter was especially poignant as we celebrated Nurses Week, a reminder of the vital contributions nurses and the entire healthcare team make to patient care and our healthcare system.

Honoring Our Nurses

Nurses Week allowed us to honor those who dedicate their lives to improving patient outcomes.

Nurses are the true backbone of our healthcare system, and at Monarch, where 90% of our users are nurses, we see firsthand the pivotal role they play. Their dedication and expertise are fundamental to the success of our technologies, and we are profoundly grateful for their contributions.

Addressing the Nursing Shortage

However, the healthcare sector faces a serious challenge: a projected shortage of half a million nurses within the next three years. This shortage has significant implications for patient care and the overall efficiency of hospitals.

As someone with several nurses in my own family, I understand the devotion and sacrifices they make every day. Yet, burnout is a significant issue, driving many skilled professionals away from the field.

At Monarch, we are committed to developing technologies that support and enhance the work of nurses and the entire healthcare team. Our solutions aim to reduce the burden on healthcare professionals, streamline workflows, and ultimately improve patient outcomes.

By innovating and providing better tools, we can help alleviate some of the pressures that lead to burnout and support nurses in their critical roles.

CMS Proposed Mandate Changes

In our commitment to staying at the forefront of healthcare advancements, we are closely monitoring the recent proposed mandates by the Centers for Medicare and Medicaid Services (CMS), which will require mandatory reporting of severe hypoglycemia and hyperglycemia events in hospitalized patients starting CY 2026.

These new mandates highlight the critical need for effective diabetes management in healthcare settings, emphasizing not only the health outcomes of patients but also the financial implications for healthcare providers through Medicare reimbursement adjustments in FY 2028.

At Monarch, we recognize the challenges these changes pose and are well-prepared to assist hospitals through this transition. Our clinical team, led by Chief Medical Officer, Paul Chidester, MD has put together a comprehensive eBook “The Ultimate Guide to CMS Hospital Harm Mandates on Severe Hypoglycemia and Hyperglycemia” available for download. This free resource offers in-depth guidance on the new mandates and practical steps to achieve compliance.

Celebrating Dedication

As we move forward, we will continue to advocate for better support for nurses, celebrate their dedication, and stand by them as they navigate the challenges of their profession. By doing so, we not only honor their contributions but also strengthen the entire healthcare system.

Thank you for your continued trust and partnership. Together, we are making a difference in healthcare and supporting those who are at the heart of it all.