There is a great need for a solution at the point of care.
We felt the idea has social value as well as a business opportunity. Currently, protocol validation requires a second person for observation and manual data entry which is expensive and impractical.
Only a for-profit company can effectively develop, maintain, and promote this type of technology.
We have key insights and a multi-disciplinary team with the right skills. Doctors, nurses, PhDs in Healthcare Informatics, Computer Science, Engineering; MBAs, Project Management, Product Development, and a passion for assistive technology. We are system integrators who know more than just hardware and software. The Clear Protocol team includes outstanding subject matter experts. They have built businesses and authored related scientific research over many years. Our patent application was processed by a U.S. “Top 100” law firm, which resulted in the successful issuance of two patents. We have continued this relationship. Please refer to the “Our Team” page.
We estimate the addressable market to be 5.6 million doctors and nurses in private practices, clinics, and hospitals.
Initially, the Target Market is direct sales to clinics and private doctor practices in the major metro area near our offices - over 7,000 clinics & private practices. Please refer to our presentation deck.
A “Top 100” US law firm, Sheppard Mullin, filed our patents, which were issued in 2019 and 2022.
UCLA computer science advised and programmed our working prototype.
Since 2016, we have been collaborating with Dimitrios Zikos, Ph.D., Associate Professor, Health Administration Program, Director of Health Administration Division, Central Michigan University.
There are about twenty specialized experts who helped or are helping with development.
We have received "early-seed" capital in May 2022 and a follow-up round in September 2022 from Ashur Capital, LLC, led by Robert Gabriel, PhD.
We have connections to engineering talent, medical advisors, and legal advice both corporate and intellectual property.
The company is currently pre-revenue, focused on developing the product.
Our biggest challenge is raising the target capital to stay on the current milestone projections while working on product development and marketing at the same time.
Our system design must be practical for the technical abilities and fit the ergonomics of a diverse population of clinicians.
Providing the product within the projected costs or at prices the customers are willing to pay.
There are many similar-sounding products, but we are the first with a practical solution to this information technology problem in healthcare. We have broad, defensible patents. There is a strong demand to protect patients and medical personnel, as well as hospital cost reduction. Centers for Medicare and Medicaid (CMS), and the states track re-admissions statistics, and they are severely penalizing hospitals. Hospitals have a strong motivation to consider our product.
We are the first with a comprehensive patented solution (2 issued US Utility Patents). Healthcare has an information bottleneck at the point of care, decades in the making. The innovation of Clear Protocol® is to enable a clinician at the point of care to contemporaneously verify and log a procedure, potentially saving valuable time. Hospitals also can expect ongoing cost reductions and many other benefits.
Customer acquisition can be expensive for B2C (business-to-consumer) companies. However, Clear Protocol® is business-to-business, so the ratio is more favorable. The lifetime value of even the smallest customer (a solo physician practice) is in the thousands because all the staff will be using our product every workday. Our cost to acquire a customer will be comparatively low – mainly the initial engagement. After that, the customer pays an ongoing monthly fee to cover the maintenance. Customization, installation, and training will be charged separately. Since profit is derived mostly from scalable software, the incremental costs of adding customers are minimal, and the margins are excellent.
FDA clearance is not required. The Clear Protocol ® IT (information technology) system is NOT regulated.
The competition is the existing software on various electronic devices: 1) a desktop computer, 2) a laptop computer, 3) a tablet, or 4) a smartphone. These are not practical at the patient’s bedside due to potential hand contamination, the inconvenience of being out of reach, or out of view, interruption, and distraction.
Often it is impractical for clinicians to walk over to a PC or hold a mobile device in their hands and they work by memory. Later, when recording the data into the EHR, it is only what they can recall.
Please refer to the headings in BOLD that correspond to each quote.
CDC 2023. Centers for Disease Control and Prevention, Implementing Clinical Decision Support Systems, see the first sentence of the second paragraph, “The evidence base demonstrating the effectiveness of CDSS [Clinical Decision Support Systems] is very strong.” The statement was made in reference to Clinical Decision Support (CDS), the area of Healthcare IT for Clear Protocol®. www.cdc.gov/dhdsp/pubs/guides/best-practices/clinical-decision-support.htm Accessed January 6th, 2023.
HIMSS 2022 Health Information & Management Systems Society 2022 State of Healthcare Report, available at: https://www.himss.org/SoH-Report, quote located on page 2, in the fifth paragraph titled "Digital Transformation". Accessed January 10th, 2023
ONC 2023 Office of the National Coordinator for Healthcare IT. The statement was made in reference to Clinical Decision Support (CDS), the area of Healthcare IT for Clear Protocol®. See the first sentence of the 2nd paragraph, entitled “Clinical Decision Support Promotes Patient Safety”. https://www.healthit.gov/topic/safety/clinical-decision-support Accessed January 10th, 2023.
Investors Page:
1 Agency for Healthcare Research and Quality AHRQ, 2020
2 Video at 00:22:20 (help.senate.gov/hearings/more-than-1-000-preventable-deaths-a-day-is-too-many-the-need-to-improve-patient-safety) Accessed March 10th, 2023
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Clear Protocol®. All other trademarks herein are property of the respective owners.
Covered under US Utility Patents 10,318,928 B1 (2019), and 11,341,460 B2 (2022).