The authorization of value-based purchasing (VBP), by the Patient Protection and Accountable Care Act of 2010, means hospitals across the country are confronting new measures for reimbursements based on performance including quality, efficiency, safety, cost, and outcomes. A study by the Government Accountability Office reported an average of 700 device recalls per year from 2005 to 2009. Just over 40 percent of the recalls involved cardiovascular, radiological, or orthopedic devices, with coronary stents the focus of at least 20 of those recalls. Product recalls result in unnecessary increases in cost and readmission rates and decrease in patient satisfaction.
Edison Nation Medical is seeking innovations in coronary stents to lower costs and improve quality of this life saving product. Innovations submitted can improve the design, manufacture, packaging, or placement of coronary stents including balloon angioplasty. A few specific areas for improvement include:
• Improved flexibility to maneuver around sharp turns in an artery
• Reduced procedure time or improved patient comfort during/after the procedure
• Non-allergenic contrast agents for x-ray guided placement
• Alternative system to x-ray imaging to guide balloon placement
• Improved catheterization devices or methods
• Reduction or elimination of restenosis, clots, bleeding
• Improved device designs that reduce risk of mechanical failure or defect
• Innovations that help maintain integrity of packaging and sterility
• “Next generation” ideas that leap-frog conventional coronary stenting
We ask for well-communicated ideas. This includes filling out our easy-to-use submission form to the best of your ability. Upload images, sketches and any other media that support your idea. Tell us your story. We even encourage you to create a video demonstrating your innovation. Don’t worry. We don’t expect you to break out your inner Spielberg. Please keep videos to less than 2 minutes.
Your submission should be unique and protectable (we love to see patented ideas but that isn’t required).
Each idea costs just $25 ($20 for Edison Nation Medical Insiders) to submit. Click here for more details on Innovation Searches.
Is my idea secure?
Yes! Every idea that is submitted to Edison Nation remains private. If your idea is selected to be presented to a partner, we have strict NDAs in place. Your intellectual property is extremely important to us.
If my idea is selected, what do I get?
If your idea is selected for licensing, we will remain in contact with you and our partner from the moment the deal is signed until it is ready for the marketplace. Our team negotiates competitive royalty structures and all licensing revenues are split 50/50 with you, the original inventor.
Why do I have to pay $25?
$25 is a nominal fee to help offset the costs Edison Nation takes on to review each idea that's submitted. It is a one-time cost. If your idea is selected for licensing, we will navigate the road to commercialization -- all at no cost to you. If you are an Edison Nation Insider, the submission fee is only $20!
What do I need to submit?
We'll review all ideas, whether it's a sketch on a napkin or a prototyped invention. You don't need a patent to submit an idea to Edison Nation.
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