Medication Cost Containment

Votes: 0
Views: 4303
Medical

We have developed equipment that when integrated into a system we have functionally defined, will save the healthcare system millions possibly billions of dollars, create jobs and revenue as well as an extremely generous ROI.

Our initial device is a centrifugal filler. This device can serve as a stand alone unit, work as a tabletop, or be integrated to competitive, existing, or legacy equipment to fully automate it. The device is programmable and will accept any capsule, gel cap, caplet, or tablet regardless of size or shape. It will deposit said products into any of the following formats; a blister card, sachet, or vial. In blisters it can fill, strip cards for 7 day dosing or 31 day cards for LTC or anything inbetween. It will verify product count and determine the chemical constituents of a product to avoid errors, counterfeiting, and fraud or determine if the product is brand or generic. It will track and trace product when combined with any facility software by lot, manufacturer, NDC no. including expiration date, and method of delivery.

This device uses no change tooling, it is swipe cleanable, meets GMP guidelines, and when properly integrated it will provide just-in-time delivery in a centralized model via decentralized distribution.

There have been no advances such as this in the last 40 years. We have prototyped and shown proof of principle and we have a patent. It is approximatly 50% cheaper than any products on the market (even though there are no comparables). It was fabricated in garage shops and basements so we know it is easy to manufacture and with the current health system cost containment issues it has demand in retail, LTC, Hospitals, Home Health, etc. making it easy to sell in its tabletop or semi-automatic form or as an integrated system.

We based our model on the state of Wisconsin as a cost saving demo. Using AHA and DHFS figures we demonstrated the following formula: Number of households x the avg. cost of a drug x the number of unused drugs averaged from 1000 medicine cabinets. This came to 2,000,000 x $2.38 x 72 or a cost savings on an annual basis of $342,720,000 for Wisconsin. If you take in $1 for Co-pay of the $80,000,000 scripts written each year it will generate no less than $80,000,000 in revenue. In Wisconsin we used three hubs so we would set up in Greenbay, Milwaukee, and Madison effectively creating no less than 1000 jobs. We would set up locations in HUB zones to provide training to people in need. The state would have buying power and could by direct saving an additional $150,000,000 and potentially passing the saving on to the consumer. Multiply this by 48 states and you can see the tremendous savings, opportunity, and capability of such a simplistic system. We have approached GPO's Health Insurers, Drug Manufacturers, retailers etc. and the ost to implement would be minimal.(Dist., Service, Parts Depots already aligned.)

Voting

Voting is closed!

  • ABOUT THE ENTRANT

  • Name:
    Joseph Trygar
  • Type of entry:
    individual
  • Profession:
    Business Development Consulting
  • Number of times previously entering contest:
    never
  • Joseph's favorite design and analysis tools:
    Autocad and Solidworks
  • For managing CAD data Joseph's company uses:
    SolidWorks PDMWorks
  • Joseph's hobbies and activities:
    Developing New Technologies
  • Joseph belongs to these online communities:
    Linkedin
  • Joseph is inspired by:
    Other inventors inspire me... I was inspired to design my product(s) to help a failing health delivery system.. America needs cost control and real jobs.. I believe I address both.
  • Software used for this entry:
    Autocad
  • Patent status:
    patented