Group K Diagnostics
A MultiDiagnostic device
company
Presenter: Brianna Wranko, CEO and Founder
Monday, May 14, 2018
Embassy Suites, Chesterbrook, Pennsylvania (directions)
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About
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Group K Diagnostics was born out of diagnostic obstacles observed in a local HIV clinic. Patients were constantly being lost prior to follow up because the time to receive results from diagnostics tests is too long. HIV patients have a higher chance of liver or kidney toxicity from the antiretroviral drug regimen and if something is failing, clinics are oftentimes unable to contact patients to change their pharmaceutical regimen. The long follow-up times, or inability to follow-up, led to higher hospitalization rates, permanently lowered organ function, and increased multi-drug resistance.
A particular case that stood out to us involved a pregnant mother diagnosed with HIV. The patient’s liver function was tested, but without results, doctors were unable to adjust her medication before she left the clinic. Although they discovered that the patient required further care, they were unable to reach her for 6 months. By that time, harmful complications had developed that would lead to extensive physical obstacles and financial expenses for both her and her child.
The MultiDiagnostic was created to eliminate harmful situations like these, so that patients can get the care that they need. Development of the platform is complete, and our first panel, liver function, is going to clinical trial.
Laboratory testing is a vital step in the clinical decision-making process, but providers are struggling to effectively manage test results in a system wrought with lag time between patient appointments and results. Currently, patients have to go to an outside lab for blood work. The delayed results are leading to complicated workflows, suboptimal patient care, and significant expenses downstream.
Point-of-care testing has the potential to remedy these pain points for providers, patients, and payers. However, current POC solutions require expensive hardware and significant training that prevents outpatient practices from investing in these solutions. Consequently, providers are left without crucial information during patient visits.
The short turnaround time of our MultiDiagnostic POC test allows providers to take immediate therapeutic action based on results. Providers will no longer face the risks associated with delayed results such as losing contact with a patient or not altering a care plan on time. In doing so, they will simultaneously prevent the downstream impacts on patient outcome and expenses.
Our MultiDiagnostic's affordable price point and ease of use eliminate the barriers of access to POC testing so that all outpatient providers and patients can benefit from the streamlined workflow. Our solution allows outpatient providers to have access to results immediately in an office setting, without extra training, setup, or personnel.
Urgent care clinics often struggle to send out laboratory testing and patients do not return to their clinic in the existing workflow. Current solutions are expensive, and we offer a cost effective, time saving alternative to give their patients the care they need.
Our main product is the MultiDiagnostic, a multi-test modular point of care (POC) diagnostic, that can be used with minimal to no training in any setting. Using an app powered by a smartphone, providers simply have to take a picture and press a button to have results analyzed and outputted to the Electronic Health Record in seconds.
3 Major Issues
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- How do we find management level expertise and attract and retain such?
- When and how do you decide on an exit?
- Do we have an application for working with pharmaceutical clients to make a paired drug/diagnostic combo? We are interested in speaking to pharmaceutical companies about how we may test for the likelihood of a therapeutic working or see if a patient is complying with treatment regimens.
Program:
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6:30 - Cocktails & Dinner (Cash bar and special 2-entree buffet menu)
8:00 - Brianna Wranko, CEO and Founder of Group K , will deliver "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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