Medical Treatment Adherence - Possible startup opportunity

Hi everyone,

A reminder that next week on Thursday, 9/2, we are having our P4E Idea Pitch Event from 4-7pm at HCA Auditorium at Fuqua.

All Duke students are welcome to attend.  More details here: http://www.dukep4e.org/pitch-event

Get ready to pitch an idea, or just come listen and hear about the neat startups that are being formed (which you could possibly join).

This will be followed, from 7-8pm, by an information session for undergraduates and graduate students (non-Fuqua) introducing the Program for Entrepreneurs.

Also, see below from a promising startup opportunity from Mike Noel (Fuqua '11).  If interested, you should contact Mike.

-Howie

Pharmaceutical Device & Services Opportunity in Medical Treatment Adherence

 

Medical treatment adherence is currently, and will continue to be, a hot button issue in the healthcare / pharmaceutical / medical insurance industries.  There are tremendous business opportunities in solving this $100B / year problem for all health sector players.

 

The solution we are proposing and developing is a three-part solution…

 

1. Pharmaceutical Devices – The devices are event-recording devices.  The event is the removal of a pill from a device, which is recorded in a database that is accessed through a web portal user interface.
2. Web Portal – The web portal is used by all parties involved / affected by treatment non-adherence (i.e. patient, caregiver, insurance, pharmacist, pharmaceutical company, employer, etc.) to monitor proper medical treatment plan adherence.  The interface is one similar to mint.com or nikeplus.com where a patient's medical information, goals, adherence data, etc. are all centrally located.
3. Rewards / Incentives – By recording data with a device and making it available for monitoring on the web portal, we are able to offer the possibility of rewarding / incentivizing healthy behavior with an AMEX style rewards program.  This could represent an excellent medium for advertising to a captured audience and could also lead to programs geared toward addressing obesity issues, child rearing, and any other issue that could be addressed with rewards / incentives.

 

The current status of this project is as follows:

• Initial funding secured (by large material / life science corporation)
• Prototypes developed
• Base web portal developed
• Some partnerships and potential pharmaceutical customers established

Needs are:

• Market research / analysis
• IT needs
• Product design
• Web portal design
• Partnership development
• Investor development
• Customer development (and analysis of who customer is)
• Business plan creation
• Product launch / business launch
• Much, much more.

Contact Michael Noel (mike.noel@fuqua.duke.edu) if you are interested in joining this startup team!

--
Howie Rhee, MBA
Managing Director, Center for Entrepreneurship and Innovation
Fuqua School of Business, Duke University
Office A236
919-617-1123 Google Voice / Mobile
919-660-1929 Office

Learn more about Entrepreneurship at Duke - www.EntrepreneurshipAtDuke.com
and read our Duke Entrepreneurship Manual - www.dukeven.com.
Twitter: @EshipAtDuke