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…
- 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.
- 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.
- 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
- 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 (firstname.lastname@example.org) 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
919-617-1123 Google Voice / Mobile
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