Using smart, at-home blood testing technology to enable personalized medicine [Read More]
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April 30, 2019
August 01, 2019
Open to Investors
Historically, hospitals have been financially incentivized to treat you, not to keep you healthy and out of the doctor’s office. This has resulted in skyrocketing costs and a revolving door experience for patients. In most hospitals, heart failure patients face over 20% readmission rate within thirty days of discharge. Recent legislation has started an industry wide shift from reactive care to proactive care. Insurance companies are now penalizing hospitals for high readmit rates and poor outcomes. To adapt to this paradigm shift, healthcare providers are turning to new care coordination protocols and patient monitoring technologies to improve the management of complex chronic diseases. Unfortunately, current tools either lack sensitivity and specificity (e.g., apps and wearables) or are expensive and invasive (e.g., implantable devices) leaving a gap in remote monitoring technologies – until now. InnaMed is developing a smart, at-home blood testing device called TeleLab for remotely monitoring patients. Serial and frequent blood testing is a foundation of outpatient care as over 70% of clinical decisions require blood tests. Today only a small portion of blood testing may be performed at home, such as painful finger stick glucose testing. The bulk of blood testing is performed at outpatient labs, requiring patient willingness, effort, time and money as patients must travel, wait and rely on caregiver support in order to comply with the recommended follow-ups. The vision for TeleLab is to deliver clinical value by eliminating the barriers to blood testing, thereby shifting more outpatient care to the home setting and enabling more frequent appraisal of patient health. By combining microneedle blood collection, patented electrochemical blood analysis technology and cloud-computing, InnaMed will provide laboratory-level blood testing at the home setting and share the results with your physician for assessment.
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