by Raghu Bala
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
Creator: Raghu Bala
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.
Advanced Degree(s): MBA
Consulting Physician, MD
Biography: Orthopedic surgeon with over 3 decades of experience.
Title: Consulting Physician
Advanced Degree(s): MD
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 CompanyWe 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.
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.
In healthcare, we have 4 subsegments we plan to attack:
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.
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.
We are finishing up our prototype and readying ourselves for field trials this summer.
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