3 of the Most Innovative Medical Companies of 2016

8 August, 2016, by ClinCaptureTeam

ReferralMD

HIPAA Privacy Rule sets rules limit who has access to patient information. However, sharing the right healthcare information, at the right time, with the right person/organization can save lives. ReferralMD, a “value-based healthcare information exchange,” is changing helping to facilitate this.

How It Works

It allows healthcare givers with the same patients to share actionable data about said patient in real time. The benefits include:

• Better Patient Care: Because data is not compartmentalized, caregivers have a more detailed patient profile, allowing them to create specific treatment plans.
• Controlled Costs: According to a 2014 Commonwealth Fund study, administrative costs for hospitals account for a full quarter (25 percent) of total spending in the U.S., equating to more than $200 billion. In comparatively developed nations (eg, Canada, Scotland), these costs were less than half that (12 percent). Sharing information can save millions in expenses.
• Fewer Medical Mistakes: One-fifth (20 percent) of malpractice claims involve missed or delayed diagnoses due to deficiencies in the exchange and/or hand off of information between providers.
• Better Workflow: Healthcare providers — from small doctor offices to large hospitals — a responsible for keeping files on every patient who walks through their doors. This can mean handling hundreds or thousands of files from specialty offices — all who may have different handling processes.
  Exchanging information electronically in a systemic manner is a more fluid process. This not only saves time, it cuts down on errors like incorrect patient information being passed along.

SetPoint Medical
Pain is an enormous problem globally. Estimates suggest that 20 percent of adults suffer from pain globally and 10 percent are newly diagnosed with chronic pain each year. The majority of these cases are from some kind of inflammatory pain.

How SetPoint’s Technology Works

SetPoint Medical is one company bringing some relief. It created a built-in pain-relief platform to help sufferers afflicted with conditions like Crohn’s Disease, rheumatoid arthritis, diabetes and multiple sclerosis, to name a few.

How SetPoint’s Technology Works

• A small implant is put in the vagus nerve of the neck, which, when activated, reduces systemic inflammation using the body’s natural Inflammatory Reflex.
• SetPoint’s proprietary technology consists of an implantable microregulator, a wireless charger and an iPad prescription pad application.
• A human study using SetPoint’s implanted neuromodulation device to treat rheumatoid arthritis reported positive results at the American College of Rheumatology Annual Meeting in November 2012.
• The company is expanding use of its neuromodulation platform technology to develop safe and effective alternative therapies for other diseases.

Foundation Medicine 
According to the World Health Organization (WHO), cancers figure among the leading causes of morbidity and mortality worldwide, with approximately 14 million new cases and 8.2 million cancer-related deaths in 2012. The organization goes on to state that death from cancer can be reduced if cases are detected and treated early. Cancer treatment is not one-size-fits-all though.

Personalized Cancer Treatment Is Finally Here

Foundation Medicine uses “precision medicine” to treat cancer, using a three-pronged approach.

• Individualized Treatment: It provides detailed genomic profiles to oncologists to help them create a targeted treatment programs for their patients. It’s made personalized cancer treatment a reality.
• Collaborative Research: It works with drug developers and cancer researchers to identify novel targets, develop innovative therapies, and facilitate active clinical trials.
• Data Collection: Using our ever-growing database of genomic information about human cancers, we help to keep drug development companies informed so that they can create even more effective precision medicine therapies.
• Foundation Medicine’s first clinical product is a genomic test, FoundationOne, that analyzes the DNA mutations in tumors, which helps physicians and researchers better understand the development and spread of the disease. This knowledge assists cancer specialists in creating specific drug treatments and therapies, in addition to identifying which patients are ideal candidates for clinical trials and/or experimental treatments.

Foundation Medicine’s first clinical product is a genomic test, FoundationOne, that analyzes the DNA mutations in tumors, which helps physicians and researchers better understand the development and spread of the disease. This knowledge assists cancer specialists in creating specific drug treatments and therapies, in addition to identifying which patients are ideal candidates for clinical trials and/or experimental treatments.