About our project
The problem we solve: In the United States, 36% of adults (approximately 115 million) lack the required health literacy to read or act on prescription labels, patient handouts, understand pharmacist counseling, or to convey their needs to the pharmacist. Low health literacy is associated with poorer health outcomes and higher hospitalization and mortality rates, as well as an increased risk of adverse medication events. Furthermore, patients receive prescriptions in the mail or pick up prescriptions from busy pharmacy counters on a daily basis. Current barriers to effective medication counseling do not regularly allow time for the pharmacist to sit with the patient and discuss their medications for 10-15 minutes at the counter. Pharmacists are under tremendous pressure to meet their performance metrics and will regularly cover the counseling points of three or four medications in fewer than two minutes. The patient is then sent home with stacks of medication leaflets that may be difficult to read.
About our solution:
DELIVER Consumer Medication Information, through accessible patient portals, bridging the medication education gap that exists between patients and their healthcare providers. ACCESSIBLE and USEFUL education, with the intent of helping patients and their caregivers understand what they do and don’t know about their medication so they may take educated questions back to their own health care provider. DESIGN CMI content with specific Federal Health Literacy guidelines in mind. Create a document that is more pleasing to the reader and easy to read, while also meeting all the necessary requirements listed in the FDA Useful Consumer Medication Information guidance document. FORMAT CMI to allow consumers to "read along" with an audible presentation of the CMI accessed seamlessly through their computer or mobile device
Progress to
date:Prior to July 2016, Steve Leuck exhaustively researched issues with health literacy and established CME guidelines. Based on his research, monographs for approximately 300 medications, addressing 85% of prescribed medications were developed. In Q3 2016, AudibleRx was incorporated and the name trademarked. The team was established, a prototype in English and Spanish was developed and distributed to over 1600 users for input. In Q4 2016, AudibleRx partnered with the University of Waterloo and Touro University to design and conduct a large-scale study of AudibleRx. As of today, we have developed a prototype app that allows patients to LISTEN to the CMI as they READ along. The prototype has been developed in both English and Spanish. Each session is an original production and copyright protected by AudibleRx, Inc.
About Our Team
Creator: Steve Leuck
Location: California
Education: University of the Pacific
Bio: As a practicing pharmacist for nearly 30 years, Steve has experience in both the hospital and community setting. AudibleRx was born from an idea that patients need a better way to access medication education. Steve proceeded to build a library of nearly 300 Consumer Medication Information audio sessions. July of 2016 Steve partnered with longtime colleague and pharmacist, Jill Adachi. Together, the two are disrupting patient medication education by creating a novel CMI platform.
Hospital Affiliation: Out-Patient Clinic Pharmacist
Title: President Co Founder
Advanced Degree(s): Pharm.D.
About Team Members
Jill Adachi
CEO Co Founder, M.S. Pharm
Biography: Jill has 35+ years in health care management in institutional and industry settings with a proven track record in successful startups, turn around operations, and IPOs. In 1996, she also successfully started Strategic Healthcare Staffing, Inc. providing temporary staffing for[pharmacists and pharmacy management consultation.The company employed up to 50 employees until dissolution of corporation in 2016
Title: CEO Co Founder
Advanced Degree(s): M.S. Pharm
Luka Tehovik
Social Media Manager, M.S.Pharm.
Biography: Luka received his Masters degree in Pharmacy from the Faculty of Pharmacy, University of Ljubljana. During his studies, he did a clinical pharmacy rotation in the US and later graduated in the same area. He now works in a pharmaceutical industry, gaining relevant experience in sales, marketing and medical field
Title: Social Media Manager
Advanced Degree(s): M.S.Pharm.
Twitter:
@Pharmacist_Luka
LinkedIn:
www.linkedin.com/in/lukatehovnik
Luke Adachi
Project Manager, BFA, Advertising
Biography: After graduating from the Academy of Art University, San Francisco, in 2014, Luke served as project manager for website development start up Mainsail Creative. Luke joined the AudibleRx team in July 2016
Title: Project Manager
Advanced Degree(s): BFA, Advertising
About Our Company
How We Help Patients
AudibleRx will bridge the medication education gap between consumer, pharmacist, and physician in consumer medication information (CMI) to improve outcomes, decrease medication misadventures and associated costs.
AudibleRx will improve patient experience and CMS 5 Star ratings performance by enhancing and increasing patient understanding of medications. AudibleRx will assist physicians and clinicians in achieving EHR goals as established by Medicare Access and CHIP Reauthorization Act (MACRA) of 2015 by improving patient engagement and use of patient portal.
AudibleRx will place audio and visual CMI in the patient portal to give patients access to their data while meeting requirements for secure messaging and patient data. AudibleRx will provide a tool to augment current practices in dissemination of CMI and establishing “best practice” for consumer medication education.
AudibleRx will improve health literacy by providing an alternative auditory model for consumer medication education in addition to text.
How We Help Physicians
AudibleRx will bridge the medication education gap between consumer, pharmacist, and physician in consumer medication information (CMI) to improve outcomes, decrease medication misadventures and associated costs.
AudibleRx will improve patient experience and CMS 5 Star ratings performance by enhancing and increasing patient understanding of medications. AudibleRx will assist physicians and clinicians in achieving EHR goals as established by Medicare Access and CHIP Reauthorization Act (MACRA) of 2015 by improving patient engagement and use of "patient portal".
AudibleRx will place audio and visual CMI in patient portal to give patients access to their data while meeting requirements for secure messaging and patient data. AudibleRx will provide a tool to augment current practices in dissemination of CMI and establishing “best practice” for consumer medication education.
AudibleRx will improve health literacy by providing an alternative auditory model for consumer medication education in addition to text.
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How We Help Hospitals
Provide a tool to augment current practices in dissemination of CMI while establishing “best practice” for consumer medication education.
Improve health literacy by providing an alternative auditory model for consumer medication education in addition to text.
AudibleRx is easily integrated into Electronic Health Record (EHR) patient portal. End user (patient/consumer) can access individualized CMI via secured patient portal, thus improving electronic health information and patient engagement in accordance with Affordable Care Act (ACA) meaningful use guidelines.
The AudibleRx library content is uniquely compliant with existing standards and guidelines for CMI.
Bridge the medication education gap between consumer, pharmacist, and physician in consumer medication information (CMI) to improve outcomes, decrease medication misadventures and associated costs, including hospital readmissions.
Improve patient experience and HCAHPS performance by enhancing by increasing patient understanding of medications.
Assist in Meaningful Use attestation in accordance with American Recovery and Reinvestment Act of 2011 by improving patient engagement. MU2 states that education needs to be tailored to the learning needs of the patient and MU3 states that this education needs to be available to the patient through patient portal.
AudibleRx will place audio and visual CMI in patient portal to give patients access to their data while meeting requirements for secure messaging and patient data.
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How We Help Partners
Potential partners include Electronic Healthcare Record (EHR) companies, such as Epic and Cerner and database companies such as First Databank and Walters Kluwer.
AudibleRX, integrated into the EHR patient portal would enhance the consumer experience by supplementing and enhancing current CMI products such as text and other audio visual platforms.
AudibleRx may also assist in achieving Meaningful Use and MACRA EHR benchmarks for clients.
Challenge Mission
Market Size
Profile of Target Market (Target Industries. US Census Bureau and IBISWorld), including hospitals, Primary Care Doctors, Specialist Doctors and Specialty Hospitals is 469,401 prospects. Combined annual revenue is $1,541.7 billion.
This is exclusive of chain and community pharmacies, pharmacy benefit managers (PBMs),and specialty practices, all of which are potential AudibleRx consumers.
Projected 3 Year Growth
With a $500.00 annual subscription fee; projected revenue for 2017 assuming .001% market penetration 500.00 X 469,401 x .001 = $234,700.50; projected revenue for 2018 assuming 0.01% market penetration 500.00 X 469,401 X 0.1 = $2,347,005.50; projected revenue for 2018 assuming 0.03% market penetration 500.00X 469,401 X .03 = $6,966,015.00.
How We Will Make Money
AudibleRx will be sold on an annual facility subscription basis with an additional start up/ implementation fee.
About our Competition
Cerner, First Data Bank, Elsevier, Wolters Kluwer, and Micromedex are all multinational, large medical information companies. They each provide a form of written Consumer Medication Information in order to help pharmacies meet the legal requirements of handing out a pharmacy leaflet stapled to the bag. To our knowledge, none of these companies have Useful CMI (as defined by the FDA) designed specifically for audible format.
Meds-On-Cue provides 90 second medication information that is aimed at helping patients with their treatment; however, it does not meet all recommendations listed in the FDA Guidance Document on Useful CMI.
AudibleRx is designed with the learner in mind. Our product meets the FDA Guidance Document requirements as well as maintains its Usefulness and Accessibility for consumers.
Innovation Details
Intellectual Property Summary
Patent
- Title: Systems and Methods for Providing Disclosures to Customers
- Number: US 20130179282 A1
- Filing Date: 06/08/2012
- Status: Patent Pending
AudibleRx registered Trademark by USPTO
https://trademarksoncall.com/trademark/audiblerx/87132666
Nearly 300 Consumer Med Info sessions, written and recorded by AudibleRx and copyright protected under Common Copyright Law.
Patent Link
https://www.google.com/patents/US20130179282?dq=ininventor:%22Steven+Leuck%22&hl=en&sa=X&ei=Q4eZVLenL8L0UM3UgcAL&ved=0CB8Q6AEwAA
Clinical Information
1. Prototype distributed to over 1600 users; exceptional conversion rate with overwhelmingly positive feedback.
2. Study conducted by Huda Wali, University of Waterloo, The Future of Pharmacy Counseling: Feasibility Study of Providing Low Health Literacy Medication Counseling through NFC-enable AudibleRx; persented by Kelly Grinrod, Assistant Professor of Pharmacy, University of Waterloo at Federation of International Pharmacists ,Buenos Aires 2016.
3. Large scale study design in process in conjunction with Touro University and University of Waterloo to demonstrate efficacy of AudibleRx.
Regulatory Status
AudibleRx does not diagnose, cure or treat any disease and therefore the AudibleRx app does not require FDA approval.
http://www.fda.gov/MedicalDevices/DigitalHealth/MobileMedicalApplications/default.htm
Consumer Med Info is developed by commercial vendors. FDA provides a Guidance Document with recommendations on how to write Useful CMI; however, the FDA does not approve or disapprove CMI.
http://www.fda.gov/downloads/drugs/guidancecomplianceregulatoryinformation/guidances/ucm080602.pdf
AudibleRx is fully compliant with FDA guidance on usefule CMI.
AudibleRx is also ADA compliant. https://www.ada.gov/pcatoolkit/chap5toolkit.htm
How we will use the funds raised
Funds will be used for:
Product development - professional recordings in English, Spanish translations and recording for 300 monographs inEnglish and Spanish.
Full time IT personnel, professional sales and marketing staff.
Thank You
Just reading the prescription label and taking your medications as prescribed is no longer enough. Patients deserve the opportunity to be involved in their own care and understand their treatment as well as the consequences of not following their treatment regimen.
AudibleRx provides Consumer Medication Information that is not only Useful, it is also Accessible. Designed and written by pharmacists in an easy-to-listen format and recorded with a human voice. Consumers have the ability to read-along while they listen to all the important counseling points of their medication.
With your support, Jill and I will bring accessible and useful consumer medication information to hospitals, clinics, community pharmacies and bedsides across the country.
