We provide future proof technology that expands the reach of healthcare and delivers greater safety, reliability and patient outcomes.
About Your Organization
United States, NJ, Keansburg, Monmouth County
Country where this project is creating social impact
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How long has your organization been operating?
Has the organization received awards or honors? Please tell us about them
References - Please provide two references with a two-sentence biography, email address, and phone number for each
Tel #: 732-476-2430
Mr.Davis is a named partner in the firm of Greenbaum, Rowe, Smith and Davis LLP, established in 1914 where Mr.Davis practices in the business law area specializing in M&A work. Outside the legal area he is a past chairman of Monmouth Medical Center, a member of the Board of Directors of Barnabas Health and a trustee of Monmouth University.
Joseph Jesson - Chief Technology Officer, GE - Asset Intelligence
Phone: 203 613-3344
Joe Jesson is the principal architect for GE Asset Intelligence and serves as the Chief Technology Officer. He received the coveted GE’s Edison Innovation Award in 2007 for his telematics/telemetry/M2M technology and architecture innovations.
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Select the stage that best applies to your solution
Start-Up (a pilot that has just begun operating)
How long have you been in operation?
Operating for 1‐5 years
Which of the following best describes the barrier(s) your innovation addresses? Choose up to two
The Need: What problem are you trying to solve?
We will simplify adoption and eliminate the risks and liabilities associated with remote data collection through patient or equipment monitoring by adapting robust and proven testing, monitoring and diagnostic technology. Our platform will expand the reach of healthcare into underserved markets and provide tangible benefits to multiple stakeholders involved in the delivery of care. This solution is highly adaptable and can be adapted as needs grow, regulations changes, technology improves or new business models are created. Healthcare needs a safe and reliable way to incorporate new technology in a future proof environment and this is precisely what our MedLogiq platform will deliver.
The Solution: What is your solution? Be specific!
MedLogiq enables advanced patient monitoring, diagnosis and data reporting. Licensed from the auto industry, it is heavily used in R&D, manufacturing, service and certification processes. The operation of medical devices, user interaction with a device, regulatory compliance and the data collected are managed. Hundreds of simultaneous apps can be run, permitting specific data collection based on individual stakeholder needs. (patients, providers, payers, regulators, pharma and researchers benefit). Software tools easily adapt the monitoring routines as the patient’s needs, regulations or new technologies are introduced. Powerful decision capability can automate actions when thresholds are met to provide and report the need for immediate care. This updateable solution expands the reach and capabilities of healthcare while reducing costs. Leveraging this will quickly close the technology gap and prepare for future changes in the way care is delivered, received and sustained.
The Model: Walk us through a specific example of how your solution makes a difference; include your primary activities
MedLogiq is a proven solution that simplifies the adoption and implementation of vital monitoring activities that increase safety, reliability and outcomes in healthcare. This future proof platform will grow and evolve as the needs and capabilities of healthcare change over time, eliminating the risk of adoption and legacy concerns. MedLogiq improves care by enabling robust patient monitoring that can take into account patient condition, medications or environmental factors to determine occurrence of an untoward event and provide real time alerts. Actionable data avoids wasted time, increases the level of care and improves patient outcomes.
Data can also be captured to ensure patient activity, adherence or overall compliance is maintained. This can preserve outcome based payment or identify training needs. Monitoring routines can also be simultaneously run to provide additional benefits to payers, researchers, regulators and pharma can extract data that improves healthcare and may create new business models or revenue streams. In addition, compliance, operational and management responsibilities can be automated and greatly simplified which eliminates many barriers to adoption.
Practically, MedLogiq can help avoid defensive tests, reduce bed days and identify or eliminate human errors or equipment failures associated with care. This reduces risks and liabilities that cause inefficiency and further contribute to escalating healthcare costs.
The Marketplace: Who are your peers and competitors? Identify others also working to address the needs you are and what differentiates you from them. What challenges could these players pose to your success or growth?
By adopting technology that exceeds the current needs in healthcare we have not identified any direct competitors. We did evaluate similar technologies and our efforts could be recreated though we feel we have the superior solution available. There are many groups with similar goals and we view our technology as an enablement platform and created a model to facilitate partnerships by providing benefits to existing device and solution providers.
Our solution and the market will benefit from integration with existing service providers so that a single location or interface provides complete access. We expect monitoring routines to be established automatically from PHR information with no interaction required by the provider in the future.
This Entry is about (Issues)
Founding Story: We want to hear about your "Aha!" moment. Share the story of where and when the founder(s) saw this solution's potential to change the world.
While working on a project relating to remote data collection in transportation we were told of a recent project completed by our technology partner. They were asked by another partner to adapt their technology to a tunnel drilling machine in order to prevent costly breakdowns. (Apparently if a machine fails it needs to be backed out of the hole it creates, serviced and repositioned.) They added the diagnostic capability to monitor the operation of this complex machine and used the available sensor data to determine the volume and ratio of 14 available lubricant additives that should be added.
The end result was the machinery had no breakdowns, two service intervals were eliminated and the project was completed on time and under budget. I immediately realized that they successfully administered “care” based on available data and the potential was far greater than simply vehicles. We then built a business case and ten months later secured an exclusive license to the technology.
Please describe the goal of your initiative; outline what you are trying to achieve
We plan to accelerate technology transformation in healthcare by providing effective tools for data collection and management to industry stakeholders and vendors. We have the support of our technology partner and an attractive and flexible business model. MedLogiq is especially useful in remote and impoverished areas where cost savings and proven technology will be more greatly appreciated. These initiatives will prove the viability of our solution without the potential delays that can occur due to regulatory requirements and provide immediate benefit. We’ll continually build services around our platform expand the benefits and capabilities to create revenue opportunities for us and our partners. Researchers and universities around the globe to use our solution to foster collaboration
What has been the impact of your solution to date?
Our solution has had a tremendous impact in the automotive and industrial markets globally. This has reduced the cost of products while drastically improving the safety and reliability. The benefits that will be delivered to healthcare are far greater and will have tremendous impact on societies around the world.
What is your projected impact over the next five years?
We expect to provide a significant improvement in patient safety and outcomes by providing a reliable, scalable and secure technology platform. The immediate focus will be largely on the patient / provider relationships and benefits. However; there will be significant benefits provided to regulators and researchers that will simplify and streamline processes and further transform healthcare.
The efficiency our platform provides will permit medical device and pharma companies to operate more efficiently and better manage product life cycles. Product costs will decline and an emphasis can be placed on innovation and better meeting the needs of society. Our technology is 15 years ahead of the healthcare industry and will have a profound and immediate impact in many areas.
What barriers might hinder the success of your project? How do you plan to overcome them?
Fulfilling the needs of the market is our primary goal. We must convert a powerful automotive solution into one for healthcare. This involves one important task, creating the monitoring functions or data points for the healthcare applications. We have discussed the market needs with a select number of stakeholders from different areas of healthcare and government agencies that see the value of our solution. The NIH also has the BTRIS system that may be a good template to use. Focusing on specific monitoring applications is also a viable route since the parameters created are reusable by the entire industry once they are developed. For example, once cardiac monitoring parameters are created they can be used by any cardiac monitoring device or application.
Winning entries present a strong plan for how they will achieve and track growth. Identify your six-month milestone for growing your impact
Completing a successful trial that shows the full potential of the technology in healthcare.
Identify three major tasks you will have to complete to reach your six-month milestone
Identify the data points needed for healthcare and integrate into tools
Complete the application porting on a device platform to prove the solution
Attract additional talent to our organization to plan product roadmap and set growth strategy.
Now think bigger! Identify your 12-month impact milestone
Complete negotiations and close licensing agreements with at least one device and solution partner.
Identify three major tasks you will have to complete to reach your 12-month milestone
Select the best medical device launch partner and close agreement.
Select the best EMR or solution provider and close agreement
Raise capital to establish platform hosting and implement growth strategy.
Tell us about your partnerships
Mahle Powertrain is the developer of the monitoring technology we’ve exclusively licensed. They provide this technology to dozens of OEM’s around the world. It has been used to monitor over 75 million vehicles at 11 thousand locations in 65 countries and supports more than 30 languages. Ongoing negotiations are underway with device manufacturers and IT solution vendors. We have also developed some strong relationships with personnel at government agencies that are focused on healthcare.
Are you currently targeting other specific populations, locations, or markets for your innovation? If so, where and why?
The US is an obvious target market since over 70% of the solutions in this market are developed here. This factor also makes the US a strong starting point to develop technologies to be used in impoverished countries like Africa and India. We believe these are important areas where a great deal can be learned about care delivery in the large population of underserved people in the US that like in high poverty or remote areas.
Though we see the US as a key market we believe that work in other markets will provide knowledge that provides improvements in the US and other developed nations.
What type of operating environment and internal organizational factors make your innovation successful?
Our background in high volume consumer products provides tremendous benefits in development, life cycle management and budgeting. We also understand the importance of the value proposition, not only to our “customer” but to every customer along the value chain. This is an aspect that has been missing in healthcare and something that will be required to adapt to the changes taking place in the industry.
Applying this knowledge and insight to adapt a very powerful, stable and reliable technology provides us with clear advantages because we not only enhance our partners technology we can help transform their operations.
Please elaborate on any needs or offers you have mentioned above and/or suggest categories of support that aren't specified within the list
We feel that every organization should always strive to have the right talent on board and we believe that will drive new creativity, applications and growth for our company. We also recognize that capital needs can dictate the growth curve and are open to investors. We also are happy to share our perspective and insight, we know that as “outsiders” our view is sometimes unique and has value.