Durable Medical Equipment Effective Date: July 1, Issue Date: May 14, Last Reviewed: Wound healing is defined as improvement occurring in either surface area or depth of the wound.
One patent is initially incorporated. The number of indications for this device is expected to rise as further research on the benefits of pulsed magnetic fields unfolds. For example, pulsed field magnetism has recently been shown in controlled studies to be an effective treatment in accelerating the healing of skeletal fractures.
The market for magnetic stimulation devices in allopathic medicine is existent, but in the embryonic stages and subject to explosive growth once the technology proves cost-effective. This potential market has reached an estimated 4. The new and innovative device designed to target this market has been named the MedStim system.
Alternative Medicine Another market addresses an unanswered need in the alternative medicine market for a device which will provide a more powerful and consistent therapeutic magnetic field. Dynamic magnetic field therapy the treatment of soft tissue with variable magnetic pulses is currently thought to have beneficial effects on circulation, immune system function, wound healing, etc.
The new and innovative design created to answer this need for a more powerful therapeutic magnetic field in alternative medicine has been named the TheraMag system.
This market is in existence and is expected to have the potential of approximately 40 million customers in the United States on our starting date.
Technology Patent applications on the company's first market entries have been filed using a patent agent specializing in biomedical device patents.
MedNexis' technology utilizes the principal that a current in a coil will generate a magnetic field which will, in turn, generate a current in any conductive material within this field. This model is currently effectively applied in diagnostic studies in which single nerves are stimulated with magnetism for diagnostic purposes alone.
Using this model, and considering the human nerve to be the conductive material, MedNexis has developed an electromagnetic device which will painlessly stimulate human muscles to contract.
Applications of this technology are numerous, with the following devices being those initially marketed: MedNexis' patented device will be tailored to effectively stimulate muscle. This will require larger electrical currents, greater functionality, and a wider range of settings.
This device will be marketed for mainstream, allopathic medicine TheraMag- MedNexis' patented device will bathe tissue in a magnetic field without causing contraction of the muscle.
This device will be marketed for alternative applications. Strategy MedNexis will target the following two markets: In order to effectively distance the two products from possible negative connotations associated with alternative medicine in the field of allopathic medicine, the two devices will be given separate and distinct names: MedStim for the allopathic medicine device and TheraMag for the alternative medicine device.
Furthermore, physicians will demand randomized, controlled study data, the production of which will be the focus of the bulk of MedNexis' early efforts in this market. TheraMag will be distributed to alternative medicine centers which are less centralized and direct sales will also be possible.
Less scientific proof is required by this market, and entrance will be immediate once the FDA issues an Investigational Device Exemption. Acceptance of these products based on successful research results will drastically increase demand and allow for expansion to foreign markets Major Milestones Animal stage Research and Development underway, early Year One.
Research studies published, end of Year Two. TheraMag for sale, end of Year One. Profitability established by Year Four. Competitive Advantage While the MagnaStim and TheraMag devices are effective and user-friendly, with multiple home healthcare applications, all the competing devices currently on the market are only partially effective or difficult and awkward to use for the recommended therapeutic treatment.The mission of the Georgia Association of Medical Equipment Suppliers (GAMES) is to facilitate business success, influence public policy and improve patient care in the home.
Vision Statement GAMES: Georgia's pre-eminent resource and voice of home medical equipment business, complex rehabilitation and respiratory care. OFFICE OF INSPECTOR GENERAL MEDICAL EQUIPMENT SUPPLIERS Assuring Legitimacy JUNE GIBBS BROWN a small subdivided office supposedly housed four suppliers.
Though their business licenses were posted in the office, there was no inventory at the site and no homes, hospices, and durable medical equipment suppliers . A Business Plan is crucial for starting and running your business successfully. Sound business plans can help you get a loan, keep you on track toward your goals, and provide a reference for benchmarking, reviewing results and making adjustments in your business.
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