IRIS (May 2015 – October 2015)
IRIS is a six month long Horizon2020 funded project to analyse and develop the business opportunities for addressing the issue of pre-empting serious complications in critical care post-operative patients. The business plans includes a roadmap for bringing IRIS to market and develop it further for use in international markets. Rinicare expects IRIS to become a significant factor in the next generation of healthcare technology.
PREDICTOR (September 2015 – August 2016)
Existing patient early warning score systems are basic, not patient-specific and only utilise small amounts of available data to identify patients at risk of deterioration or complications. The key focus of Stability is to prevent the development and reduce the severity of complications after surgery. Currently, more than 274 million major surgical procedures are undertaken worldwide every year, more than 7 million people suffer complications following surgery, 4 out of every 100 people who undergo the surgery might die after the procedure and thousands of people survive but with disabilities, making the economic burden amount to hundreds of millions of euros annually.
Progress has been made with current market solutions consisting of various scoring systems for patient monitoring and the identification of complications, however:
- Most solutions are static,
- They are not designed for patients in critical or intensive care,
- They analyse only a fraction of the available patient data,
- They cannot detect multi-dimensional trends,
- They rely on arbitrary thresholds and are not customised for individual patients.
Developed in collaboration with leading hospital researchers and clinical staff, Stability provides real time monitoring and risk prediction using Rinicare’s innovative software solution as detailed in the following diagram:
Stability allows for the calculation of a real-time, adaptive and personalised patient STABILITY Score using all currently recorded patient data. In doing so, the system predicts the likelihood of an improvement or deterioration in this score therefore providing an estimation of the patient’s future condition.
Stability poses a number of benefits over existing technology and has the potential to become the new standard of care. The system predicts the risk of major complications or patient instability, its patient specific algorithms identify risk of deterioration hours before it happens and it enables prompt preventive medical intervention. In addition to this, Stability has the potential to significantly improve patient outcome and have a positive impact on the healthcare budget.
Current Market Opportunity for Stability:
Global Patient Monitoring and diagnostic device market is expected to grow at 5.9% Compound Annual Growth Rate to reach €14.7B by 2016 & €17.8B by 2018.
National competitors include Abbott Laboratories, Covidien, Criticare Systems, Mediana Tech, Mindray, Nihon Kohden, Omron Healthcare and Proact Medical.
Global competitors include Dräger, GE Healthcare, Philips Healthcare, Roche Diagnostics Ltd and Siemens.
RINICARE and its medical research partners confirm no market solution equals Stability.