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Edison Nation Medical Announces Medtech Idea Search with Covidien
Medical device incubator Edison Nation Medical announces a worldwide search for ideas for medical devices, technologies and/or software to improve at-home monitoring of surgical patient recovery following discharge. Edison Nation Medical will work with Covidien, a leading global healthcare products company, to assess ideas submitted through the program, and Edison Nation Medical will share royalties with inventors of any technologies that are successfully commercialized.
“This initiative supports Covidien’s commitment to raising the standard of care and addressing challenges faced by health care providers and their patients,” says Randel Frazier, chief technology officer of medical devices and emerging markets for Covidien. “Partnering with Edison Nation Medical will allow us to harness the collective imagination of potentially thousands of health care workers and inventors around the world to find more effective ways to track patient progress post-discharge.”
Post-discharge (PD) surgical complications continue to be one of the most challenging problems in modern healthcare. According to a 2012 study in Archives of Surgery(1), more than 40 percent of patients experiencing surgical complications encounter them at home, with half of those occurring within the first nine days following surgery.
The study also found that patients with PD complications have significantly higher rates of reoperation and mortality than those without PD complications.(2) A key focus of the Patient Protection and Affordable Care Act is to reduce the avoidable re-hospitalization and associated costs often brought on by PD surgical complications3. Helping physicians better monitor patients remotely, post-discharge, is widely seen as a way to lower such risks.
Covidien and Edison Nation Medical are seeking solutions that will help monitor the root causes of PD complications. Some of the most common post-surgical complications include surgical site infections, respiratory ailments, wound necrosis, bleeding, thromboembolic events including deep-vein thrombosis, urinary tract infections and cardiac events.
Eligible submissions may include any combination of mechanical, electro-mechanical or software (mobile device or PC-based) technologies. Ideas may be submitted via a confidential portal at www.EdisonNationMedical.com/Covidien through Sept. 1, 2014. Edison Nation Medical and Covidien will review each submission and then work to commercialize the best ideas. Individuals pay a $25 submission fee for each idea.
“Covidien has a long history of transforming health care through the introduction of clinically relevant and cost-effective solutions,” says Robert Grajewski, president of Edison Nation Medical. “We’re excited to partner with such a respected company to encourage innovative solutions to this critical health care problem.”
1. Kazaure, et.al. Association of Postdischarge Complications With Reoperation and Mortality in General Surgery. Archives of Surgery. 2012:147[11]:1000-1007.
2. Kazaure, et al. 1000.
3. Kocher RP, Adashi EY. Hospital readmissions and the Affordable Care Act: paying for coordinated quality care. JAMA. 2011;306(16):1794-1795.
Source: Edison Nation Medical