Issue link: https://viewer.e-digitaledition.com/i/1472735
Rao Wealth Partners is an independent firm with securities offered through Summit Brokerage Services, Inc., member FINRA and SIPC. Advisory services are offered through Summit Financial Group, Inc., a registered investment advisor. Summit is an independent broker-dealer with client assets held at First Clearing, LLC (a wholly owned Wells Fargo subsidiary). Summit and its affiliates are under separate ownership from any other named entity. You can name every bone in the body, but you can't name a single investment in your retirement account. It's time for a change. (212) 257-5794 www.raowp.com Individual Stock Selection | Corporate Retirement Accounts | Educational Savings Plans IN NOVEMBER 2021, the FDA authorized the first prescription-use immersive virtual reality (VR) system to treat chronic lower back pain. The EaseVRx device, manufactured by AppliedVR, uses a 3D VR headset to present patients with cognitive behavioral therapy (CBT) and other behavioral therapy techniques, such as deep breathing, for sessions over an eight-week period. Subjects in research trials had a 42% reduction in pain intensity and 49% reduction in activity interference compared to a 2D program. BUSINESS BETS BIG While VR medicine is still in its nascent stages, AppliedVR already raised $71 million in funding, including a new $36 million in series B investments ahead of FDA approval last fall. "We're committed to continuing research that validates our efficacy and cost-effectiveness for treating chronic pain and other indications," says Josh Sackman, AppliedVR Co-Founder and President, in a press release. If the technology shows success beyond back pain — it is also being tested for treatment-resistant fibromyalgia — it could help reshape the healthcare marketplace. The cost of all chronic pain cumulatively runs around $635 billion per year. AppliedVR is now working on further studies with Geisinger and Cleveland Clinic to test whether VR can help manage both acute and chronic pain in lieu of opioids. n Virtual Reality, Real Pain Relief? BY CARI WADE GERVIN APPLIEDVR HOPES ITS IMMERSIVE THER APEUTICS WILL HELP PATIENTS WITH CHRONIC PAIN, AND INVESTORS HOPE SO TOO. 1 6❱❱❱❱❱ I N N O V A T I O N T E C H N O L O G Y