dBMEDx won first place and $75K at the 2016 Prime Health Challenge
Littleton-based dBMEDx, a medical device company commercializing a revolutionary bladder scanner, was one of the 6 finalists who pitched at the Prime Health Challenge this past Wednesday. The digital health companies presented in front of healthcare professionals, provider executives, and investors in competition for both pilot hosts and pilot funding after taking part in a three month mentoring program put on by Prime Health.
Prime Health Challenge
“The final event was a success because of the way Prime Health organized the month leading up to the event,” commented dBMEDx CEO, Dave Shine. Prior to the final pitch the six digital health companies “speed dated” with judges and hospital executives interested in hosting pilots. The judges and provider executives gained a good understanding of the companies and were able to provide the founders with feedback before their final pitch. Shine commented that on the night of the challenge, “We did not know how we were going to do but we knew what was expected and that was so helpful.”
dBMEDx Wins First Place
dBMEDx ended up with first place and was awarded $75,000 in pilot funding. The company also received bids from SCL Health and Centura both wanting to host their pilot. Shine is elated to have two hosts for the pilot because he noted, “One of the huge challenges we face as a new entrant in the market is navigating the hospital’s procurement process. It is a very high hurdle and they like to see supportive data.”
Meetings to finalize the pilot project details will begin this month. The pilot trials will include collecting data on the accuracy and efficacy of dBMEDx’s bladder scanner used by nurses at SCL Health and Centura in a routine clinical setting. Shine is confident that the nurses will be impressed by the innovative device and that the pilot results will help open the door to implementation across the respective hospital systems.
Currently about 25% of all hospital patients receive catheters and an alarmingly high number of those people end up with hospital-acquired infections. The market opportu
nity for this product developed after Medicare stopped paying for the cost of hospital-a
cquired infections in 2008 and the government started tracking and penalizing hospitals for Catheter-associated Urinary Tract Infections (CAUTI) in 2015.
The product, BBS RevolutionTM, is designed for nurses to quickly and reliably measure bladder volume in less than five seconds. The wireless design makes disinfection so much easier than legacy systems and is ideal for isolation room patients. These are all top priorities for nurses as validated by a survey conducted earlier this month at a preeminent nursing leadership meeting which showed:
• 98% of nurses prefer an automated solution (no setup or aiming)
• 95% of nurses prefer a simpler disinfection protocol
dBMEDx has been an Innosphere client company since January 2016 and works closely with Mike Freeman, Innosphere CEO, and Alan Curtis, Health Innovation Program Director.
Shine commented, “Innosphere has opened doors for us because they have a well-developed network. Our involvement with SCL Health actually first began with an introduction from Innosphere.”
dBMEDx is a medical device company that is developing novel, automated scanning devices for a wide range of medical applications. The company has developed the world’s smallest, wireless 3D ultrasound scan engine with integrated image analysis capability. This device architecture overcomes many of the limitations of traditional imaging technology to create devices that can be used with very little training by any medical professional. The patented dBMEDx architecture automatically collects and analyzes the image data and wirelessly presents the user with a numeric result, bringing the power and safety of ultrasound-based diagnosis to all medical professionals. For additional information, please visit http://www.dBMEDx.com.
SOURCE dBMEDx, Inc.
David Shine, CEO