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About our project
The problem we solve: The current technology for radiation monitoring at the work place is an antiquated ThermoLuminescent badge technology that takes 60 days to collect the data.
About our solution:
Clinitraq is a revolutionary new Radiation Dosimeter device that reduces the time for diagnosing radiation exposure from 60 days to 60 seconds.
As medical procedures are getting more reliant of equipment such as X-rays, CAT scans, and fluoroscopes the exposure to radiation for healthcare workers is higher than ever before. However, the protocols and devices used in measuring radiation exposure use dated technology from the 1960s.
With Clinitraq:
1) healthcare workers can now enter a safer work environment
2) healthcare facilities can benefit from lower liability exposure from lawsuits
3) consulting physicians, and medical reps who often from between facilities can now monitor their own exposure levels
The device is patent pending and matches the cost of existing solutions using a unique approach.
Progress to
date:
The MVP is almost ready
Once ready, the system wil be rolled out at a few test sites and receive cetification by a governing institution in any give jurisdiction.
Enclosure prototype shown below
About Our Team
Creator: Raghu Bala
Location: California
Education: University of Pennsylvania
Bio: CEO/Co-Founder of Clinitraq Inc, based in Southern California. Formerly with Yahoo, Infospace, PwC, and with 3 successful startup exits. Wharton MBA in Finance, MS in Computer Science from RPI, Ex-Columbia University Adjunct Lecturer, published author and major conferences including IoT Congress, Google IO, and more. Current focus areas: Decentralized computing, Distributed ledgers, IoT, Cryptocurrencies. Currently Head Learning Facilitator/Learning Facilitator for AI/Blockchain for MIT-Sloan/GetSmarter.
Title: CEO
Advanced Degree(s): MBA
About Team Members
Divakar Krishnareddy
Consulting Physician, MD Biography: Orthopedic surgeon with over 3 decades of experience.
Title: Consulting Physician Advanced Degree(s): MD
About Our Company
Clinitraq Inc
Location: 92 Corporate Park Ste C750 Irvine, CA 92606
Phase 2 of our rollout plan is to introduce our device into the patient market. We believe our device will help patients ascertain the amount of radiation they have been exposed to. For Radiation Assisted Oncology patients, they may want to ensure how much dosage they are actually receiving. For patients with other ailments e.g. orthopedic, they want to ensure they are not receiving too much radiation when the actual ailment being solved is something else and not to inadvertently contract some radiation related program eg killing off thyroid glands.
In summary, we believe in line with JCAHO mandates, our technology helps hospitals, patients and healthcare workers alike in having a more safer environment.
How We Help Physicians
Physicians who are roving between various medical centers, do not have a good handle on their radiation exposure today. This is because the whole program of administering the radiation detection is not in the hands of the physicians but primarily handled by the healthcare facility. For a roving consultant physician or healthcare worker, they cannot accurately ascertain their total exposure as there is no centralized source to aggregate such data. With our solution, the consultant physician is in charge of his or her own data, and data is collected in real time, thereby making it much easier for physicians to take corrective measures that impact their own health.
How We Help Hospitals
JCAHO mandates are calling for hospitals to have stricter procedures in place as far as radiation exposure measurements are concerned. Our product is the solution for this problem as it collects data in real time, it has fewer loopholes for errors unlike the current solutions e.g. rolling window calculations, it accomodates roving consultant healthcare workers, it has cloud analytics to help see patterns in the data and more.
How We Help Partners
Partners such as Insurance companies who underwrite the health insurance policies of hospital workers can now monitor exposure rates and this will help reduce claims while ensuring worker safety.
Challenge Mission
How We Address the Mission of The Challenge(s)
Our challenge is the Real Time Results Challenge. Our Smart Dosimeter is an IOT (Internet of Things) device that captures real time data. This is 100% in line with the goals and objectives of this challenge. We not only capture data in real time, but we can analyze (via AI) and share (via blockchain) such information with ecosystem partners (e.g. insurance companies, patients ).
New Orleans and Our Company
We plan to invest in the New Orleans area and the healthcare ecosystem in the area if we win this challenge. We will open an office, hire staff, and participate vigorously in the local community to ensure we earn the community's trust.
Innovation Details
Intellectual Property Summary
We filed a provisional patent in 2017
We also filed a full utility patent in 2017 but there is some back and forth currently going on with the USPTO
U.S. Patent Application No.: 15/817,001
Title: REAL-TIME LOCATION AWARE RADIATION SYSTEM AND METHOD FOR USE THEREOF
Filed: November 17, 2017
Clinical Information
We have to complete our prototype and then go through testing and certification
Regulatory Status
No FDA Application filed at this time
How we will use the funds raised
Industrial Testing $50K
Certifications $50K
Tooling for Manufacturing $50K
1000 unit run of manufacturing $200K
Completion of firmware, software $100K
SG&A $50K
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Total $500K
Thank You
Excessive Radiation exposure poses an immediate threat to all those in the healthcare. The current dosimetry technology is antiquated in its technology and protocols
We have a modern, affordable solution to this problem that keeps costs in check while helping improve the speed and accuracy of data collection around radiation exposure. Help us in our mission to help safeguard the health of our medical professionals.
Investor Info
Market Size
The Total Market Opportunity is approximately $4BUSD for the Dosimeter market if we considered only healthcare professionals. If we include the patient market which is Phase 2 of our rollout plan, it goes up to $50BUSD as there is a large contingent of cancer patients.
Projected 3 Year Growth
We anticipate 6% market penetration in 5 years with gross margins at 30%. This will produce revenues of US$6.5M in 2021 to $41.6M by 2023. This growth will enable us to expand both domestically and globally. and also enter adjacent markets for the dosimeter e.g. TSA workers at airports and other places where radiation exposure risks are high.
Revenue Model
In healthcare, we have 4 subsegments we plan to attack:
Healthcare workers
Patients - radiation directed oncology
OEM manufacturers
Individuals e.g. consulting physicians
Our product has enormous potential in each of these subsegments. Apart from this, we have additional markets outside healthcare e.g. TSA workers at the airport, which offers more revenue growth opportunities.
Competitors
We have 3 competitors:
1) Mirion Labs - passive dosimeter, TLD badge
2) Landauer - passive dosimeter, TLD badge. They do have a patent for an active dosimeter, but we have filed a patent that supercedes their 2013 technology.
3) Dosime - active personal dosimeter, not industrial strength and slow in detection time. Also a monolithic unit and very expensive.
Traction
We are finishing up our prototype and readying ourselves for field trials this summer.
Due Diligence Docs
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CEO/Co-Founder of Clinitraq Inc, based in Southern California. Formerly with Yahoo, Infospace, PwC, and with 3 successful startup exits. Wharton MBA in ...
Progress to
date:
