Garmin HRM inaccuracies & weird shaped chest

I've had the Garmin HRM for a few years paired with an Edge 500. It used to work very well and accurately but for the last few months has been giving me readings that are well under what I know they are, 110bpm on a threshold effort and 55bpm on a zone 2 type ride. Anyone else had their monitor go dodgy on them? Is it the monitor itself or the contact points on the strap? Are there any alternatives that I can use with the Garmin that are better?
Also related to this, but a bit of a side bar, I have something called pectus excavatum (google it) where my breastbone is sunken into my chest a few cm. This means I have to wear the strap so that the monitor sits sort of underneath my arm on the side of my chest, as if it were in the middle where its supposed to be it wouldn't be in contact with my chest. As above, this used to work fine so I don't think it is an issue with me rather than the HRM being dodgy?
Any thoughts?
Also related to this, but a bit of a side bar, I have something called pectus excavatum (google it) where my breastbone is sunken into my chest a few cm. This means I have to wear the strap so that the monitor sits sort of underneath my arm on the side of my chest, as if it were in the middle where its supposed to be it wouldn't be in contact with my chest. As above, this used to work fine so I don't think it is an issue with me rather than the HRM being dodgy?
Any thoughts?
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I seem to remember a dcrainmaker article on hr strap issues. If i recall correctly he said you can use the straps on your back rather than chest.
So might be worth a shot.