When the Angel Capital Association recently announced its Silvertip HP Startup Central Award, the recipient was INRange Systems of Altoona, Pennsylvania. The award honors entrepreneurship that creates markets through innovation.
INRange Systems identified a problem in the management of medication for patients recovering from illness at home. The company’s solution created a new market for administration of medications. The INRange Systems device provides remote electronic medication management. This is the only such device cleared by the FDA.
INRange Systems has essentially created a new standard of care. Previously, patients who left the hospital environment were unmonitored in the management of their medications. This resulted in a high rate of error in taking the correct pill at the right time.
To resolve this situation, INRange Systems created the Electronic Medication Management Assistant (EMMA®). This medical equipment device accurately dispenses medication at prescribed times.
This is the first tele-health device to receive an HCPCS code from the Center for Medicare and Medicaid Services in order to facilitate billing. EMMA is also approved by Tricare, the military health insurance system. Next in line for reimbursement approval are private and other public payer systems.
Patient rehabilitation at home is recommended as soon as hospital care is no longer required. The only problem has been the lack of supervision for medication intake. A higher degree of pharmaceutical care was called for to address an aging population as well as critically infirmed patients.
INRange Systems stepped in with an entirely new methodology and its solution has innovated post-pharmacy care. Angel investors and private equity have provided funding to INRange Systems. As the company continues to expand in the US, it is also working with a pharmaceutical manufacturer on penetration of the European and Asian markets. Clinical trials of EMMA in the UK begin in 2011.