04.20.15
Abbott Laboratories Inc. recently received U.S. Food and Drug Administration clearance for a new diabetes blood glucose meter called the FreeStyle Precision Neo Blood Glucose Monitoring System.
According to officials with the Abbott Park, Ill.-based medtech firm, the meter has a new, slim design that offers high accuracy and 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.
The meter is available at a cost of between $14-$17 for 25 strips and a one-time fee for the meter, which ranges from $22-$28.
"People with diabetes depend every single day on trusted, high-quality tools to monitor their glucose levels," said Robert Ford, senior vice president of Abbott’s Diabetes Care business. "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. 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 year—almost as much as the annual cost of a moderate food plan at home for a family of two.
The FreeStyle Precision Neo System holds up to 1,000 readings, is thinner than a AAA battery, and has a large touchscreen display with simple icons and easy-to-read numbers. The meter also provides a fast, five-second test time using a small blood sample size.
According to officials with the Abbott Park, Ill.-based medtech firm, the meter has a new, slim design that offers high accuracy and 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.
The meter is available at a cost of between $14-$17 for 25 strips and a one-time fee for the meter, which ranges from $22-$28.
"People with diabetes depend every single day on trusted, high-quality tools to monitor their glucose levels," said Robert Ford, senior vice president of Abbott’s Diabetes Care business. "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. 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 year—almost as much as the annual cost of a moderate food plan at home for a family of two.
The FreeStyle Precision Neo System holds up to 1,000 readings, is thinner than a AAA battery, and has a large touchscreen display with simple icons and easy-to-read numbers. The meter also provides a fast, five-second test time using a small blood sample size.
