Our Story
Introduction
We are carrying out a plan to create a healthier population! Our firm is using a multi-patent-pending combination of technology, hardware and people to solve the tremendous societal problem associated with medication mismanagement.
In spite of the staggering impact medication nonadherence has on society, it rarely makes headlines in the media. In 2016, the annual cost to the health care industry was approximately $528 billion (1). The problems it creates for individuals’ health and their family members’ peace of mind goes beyond a monetary calculation. The impact goes much deeper.
Hello, my name is Bruce Pitcher. I am a 25-year health care industry veteran and the president of MedSensible. I have extensive, first-hand experience with the challenges of medication management. After the sudden death of my mom’s husband in 2010, I had the honor of helping her live the final seven years of her life with dignity. Since my mom suffered from dementia and was on multiple medications, one of the biggest challenges was ensuring her proper medication management, administration and adherence. The formidable problems I encountered helping her are the same ones millions of people and their families experience every day.
One of the main reasons why medication mismanagement plagues society can be traced back to typical physician protocol. They write prescriptions, but very rarely provide their patients any method, system or device to manage the prescriptions. Patients are on their own! So, my team and I set out to create a comprehensive system that could overcome everyday medication management challenges and pitfalls. MedSensible and its corresponding products are the outcome of this significant undertaking, and it is an honor to share them with you.
Products
General Information
A person’s medication assistance needs are very individualized. There is certainly no one-size-fits-all solution. MedSensible is different because we use a combination of technology, hardware and human support to create individualized solutions. The comprehensive assistance delivered by our three separate products enables MedSensible to customize a plan for individuals with even the most challenging needs.
Pending Patents and Business Models
There are multiple patents pending for the three products. Also, each product has its own distinct business model and accompanying revenue source. So, each product can be used in a stand-alone capacity or be combined with the others to become what we feel is the most complete medication management offering available.
Product Descriptions
The Medication Manager
Our flagship technology system is The Medication Manager. It is an easy-to-use, state-of-the-art system that automates almost every aspect of medication administration. It was uniquely designed to also help those with no computer skills or smart phone expertise, which is unbelievably helpful to the senior population.
The system’s collaboration platform is second to none and allows for real time interaction between patients, their physicians and their family members, regardless of their geographic location. We call this the Support Team feature. It’s a fine example of how the “power of numbers” can make a difference in medication compliance.
My Medication Station
Our second product is a smart, electronic medication dispenser known as My Medication Station. The first prototype has been completed and it is in beta testing.
My Medication Station eliminates the confusion of multiple pill bottles and organizes medications into a single location. It’s an easy-to-operate device that houses a week’s supply of medication.
The video below provides you an animated view of My Medication Station's components.
Below is a video of our current prototype in action. Note that the day of the week, Thursday, has all three compartments illuminated to distinguish it as the current day. When the medication reminder triggers, the video screen changes to display the medication to be taken; the bin where the medication is located starts to flash; and the audio notification can be heard.
Here are some additional photos of our prototype. The final design will be updated to include a larger video screen. Additionally, the materials that will be used for final manufacturing, and the device's color combination, will be modified to closely resemble the graphic rendering found in the My Medication Station introductory video above.
The dispenser’s technology is truly impressive. It has both audio and touch-screen capability. It’s also directly linked with The Medication Manager, thus allowing the combination of the two systems to deliver amazing features. One of them is real-time notifications. This is truly peace of mind for people who are concerned about an out-of-town loved one meeting their medication needs. The dispenser can promptly notify them of a list of important situations: such as their loved one missing a medication intake or when a medication count is low and it is time for a refill.
Mobile MedNurse
Our third product is Mobile MedNurse. It fosters one-on-one, at-home service for individuals that require extra help with their medication needs.
The Mobile MedNurse platform is essentially technology that delivers three important components to its users:
- First, it is an introductory forum where individuals seeking medication support can meet providers who deliver service in their area.
- Second, through its proprietary field technology mobile app called All-Link, it provides uniform visit delivery standards and guidance to ensure exemplary interaction protocols are achieved and documented. It also brings an individual’s physicians into the picture for superior collaboration.
- Third, also derived from All-Link, it supplies the parties an efficient and effective billing and compensation forum.
With its one-on-one interaction model, Mobile MedNurse is the ultimate in personal medication management advocacy. Visits can be established on a recurring basis or on an as-needed basis. Further, its distinctive business model makes it a value-oriented program, with pricing approximately 50 percent below typical private-duty home care fees.
What We Need & What You Get
Our Funding Needs
The MedSensible offering consists of three products. Two of the three are completed. We are seeking $20,000 to finish the third product and to conduct the initial marketing launch of our complete offering in the Tampa Bay area.
Funding Program and Allocation
We have chosen a Flexible funding program. All funds that are received will first be appropriated to the completion of My Medication Station. Thereafter, the funding will be used to build inventory of the devices. Finally, the balance will be appropriated toward the marketing roll out in Florida. Funds that we receive over our campaign goal will be used to expand our offering on a national basis.
Perks
We are proud to offer everyone that supports us with a $25.00 donation a subscription to the base model of our flagship technology system, The Medication Manager. The subscription also comes with a valuable discount card we call the Patient Appreciation Lifestyle Reward. The discounts are available for travel, meals, concerts and much more. Some of the participating retailers are Hilton and Best Buy. The discount reward is immediately sent to the email address used to create the account at The Medication Manager.
For those individuals who contribute $250 to us, we are pleased to reward the generous support with our smart medication dispenser, My Medication Station. That is approximately 50 percent below our retail price of $495.00.
The Impact
It was an unbelievably challenging experience for me to help my mom through her final years. As I looked back on that time, I came up with a saying that will resonate with almost everyone at some point in his or her life. The statement is as follows:
“If you live long enough, and your parents live long enough, you WILL become your parents’ parent.”
The vision is to make life better for people taking medication and their family members. I do not want people to struggle with medication management like I did. MedSensible’s offering overcomes the pitfalls that I encountered, and many, many more. It paves a much smoother path for those who will, at some point, walk in my shoes.
We are right on the cusp of delivering a comprehensive medication management solution that society has needed for a long time. We can change lives with MedSensible. So, I would like to respectfully ask you join us in our quest by becoming a backer. You can be assured your financial support of MedSensible is an investment in both health and humanity.
Risks & Challenges
The market for solving the medication management dilemma is very fragmented. There are a lot of companies that produce one tool or another aimed at overcoming the problem. Our plan employs three distinctive components to separate us from the competition.
Risks
There are risks associated with our offering. Most of the risks are inherent in any new company’s path to success. Accordingly, the biggest risk we face is a competitor with sizeable market share expanding their offering to mirror our pricing structure and comprehensive approach.
There are three barriers to entry a competitor will face is they decide to challenge us on these fronts. The first is time. It will take a competitor a sizeable amount of time to build what we have created. During that window, we fully expect to be able to build market share and product loyalty.
Another barrier a competitor faces is the pending patents associated with our products. These patents provide a formidable obstacle for duplication of the MedSensible offering. We are prepared to defend the intellectual property associated with the patients.
The third barrier a competitor must overcome is our pricing structure. Because of our technology, the unique business models of our offering’s products and our company’s low overhead, we have been able to establish price points well below the majority of our competitors. We can maintain our current pricing structure and achieve solid profit margins. Our competitors typically do not enjoy this positioning, and therefore, would cease to be profitable if they chose to compete with us on pricing.
Challenges
The biggest challenge we have right now is our financial condition. We need to raise money to complete My Medication Station and roll out our offering in Florida. We anticipate overcoming our financial constraints in July 2020.
The second challenge we face is technology related. It is no secret that technology can have bugs and malfunctions. Although our systems have been beta tested and some are currently operational in the field, we fully expect to find there are minor flaws in our technology. We are fully prepared to promptly address and repair any system defects.
A third noteworthy challenge we face is our lack of notoriety. The MedSensible name is new to the health care industry. Hence, we must create awareness for the company and its corresponding offering of products. We are very optimistic that the implementation of our Territory Ownership Program will generate the notoriety we need to capture market share.
Other Ways You Can Help
If you are not in a position where you can provide us financial support, you can still be a part of the solution to society’s medication management quandary. First, we encourage you to enroll for a free subscription to The Medication Manager and download its mobile app from iTunes or Google Play. You can then begin using its tremendous features for your medication administration or that of any family member.
Second, simply tell your friends and family about MedSensible and your experience with The Medication Manager. Helping them become aware of our offering’s wide range of solutions to medication management problems will foster our grass-roots effort to create a healthier population.
Thank you very much for your consideration!
(1) Pharmacy Times. Does Nonadherence Really Cost the Health Care System $300 Billion Annually? Aungst, Timothy. 6/1/18.