OrthoForge
A medical Device Company that specializes real time monitoring of bone growth
Monday, May 8, 2017
Embassy Suites, Chesterbrook, Pennsylvania (directions)
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About
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OrthoForge is a Medical Device Company that specializes real time monitoring of bone growth. Our company strives to develop and deliver the gold standard orthopedic stimulation and quantitative information to all healthcare stakeholders. Through the use of our proprietary device we have a mission and vision to promote personalized medicine, improve outcomes, and better the patient experience in a cost effective manner.
Today’s clinician, when dealing with bone healing, is offered no direct, real-time insight and measurement at the fracture site. This leads to reading multiple x-rays/palpitations which may be viewed as subjective and retrospective. The current treatment model for a fracture yields a 12% re-hospitalization due to the misdiagnosis. In the case of the physician prescribing a bone stimulator, physicians are not aware and cannot track patient compliance in real time. This ultimately leads to a disconnect in communication between the patient and the clinician. This disconnect leads to misdiagnosis, lack of understanding, and unknown patient compliance. This ultimately costs the healthcare system valuable dollars
At the root of our technology, we are using an FDA approved ultrasonic signal that is applied directly at the fracture site by a sensor, and is applied by the patient. We also provide immediate feedback to the patient towards proper placement and usage. We then take that signal, analyze it, and return information to the stakeholder (i.e. clinician as to how well the bone is healing (quantifying) and if the device is used as prescribed. Our Device will minimize/remove misdiagnosis through scientifically quantifying the bone healing site. Opposed to subjective analysis of the wound, we provide quantitative information indicating to the clinician if the bone is fully consolidated. The OrthoForge Device is the only product that can provide real-time measurement of bone healing and patient compliance. Our product can potentially reduce payers’ liability, mitigate physician reimbursement loss, and increase the clinicians’ outcomes.
3 Major Issues
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- Is it better to market the company as a medical device bone growth stimulator or as a digital health/ telemedicine play, or a hybrid of both? This has been a hot topic of conversation with potential investors, especially in regards to exit strategies.
- How can the OrthoForge system fit into the current reimbursement landscape given the increase in bundled payment models and telemedicine. What are the keys components needed to prove the cost benefit argument for the prescribing physician. Clinical trial makeup? Traditional fracture healing paradigm versus traditional plus OrthoForge or even traditional versus just OrthoForge.
- Should OrthoForge launch the product with a very narrow target audience such as orthopedic surgeons that currently prescribe bone growth stimulators or should they broaden the scope and go after orthopedic surgeons, sports medicine, hospital systems and payers. Should the data acquired by the device be sold as a separate product/service.
Program:
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6:30 - Cocktails & Dinner (Cash bar and special 2-entree buffet menu)
8:00 - Jim Fries, CEO, will deliver OrthoForge's "Elevator" Pitch to the Group
8:20 - A Panel will address three major issues crucial to helping the Company reach the next level.
9:00 - Open discussion: members and guests
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