A medication adherence tool, an innovative lighting solution embedded in a cane and a device to measure brain activity for concussions were among the products pitched at a recent early stage venture event. Five companies made presentations, but there was not one technical meltdown. That’s because PowerPoint presentations were banned.
Villanova Entrepreneurs Network founder Richard J. Anthony Sr. says software, particularly PowerPoint, tends to be used as a crutch by startup presentations and are generally a distraction. He founded the early stage ventures and angel investors program 12 years ago, but it became affiliated with the Villanova University Center for Innovation, Creativity & Entrepreneurship last year. Anthony is also entrepreneur-in-residence at the university in Villanova, Pennsylvania, and runs a management consulting firm, The Solutions Network.
Mind Field Solutions’ predictive model is designed to figure out the real reasons patients do not follow medication instructions. The company’s work has generated interest beyond the realm of medicine with a query from online matchmaker website eHarmony.
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But the company’s primary interest is advancing ownership of a diabetes model for which it plans to partner with a payer and is looking to raise $1 million to develop what will be an iPad diagnostic tool to identify noncompliance with treatment regimens. The tool is designed to highlight who is not complying with the treatment regimen and the subconscious decisions driving that behavior. Plan members would pay a certain amount each month to their payer for a tailor-made program, Mind Field Solutions CEO Andrea LaFountain said.
It has worked with Shire (NASDAQ: SHPGY) and Cleveland Clinic to develop an adherence tool for Attention Deficit Hyperactive Disorder and with AstraZeneca (NYSE: AZN) on a version for oncology patients.
The ADHD model revealed that non-adherence was not so much about forgetfulness as a difference of opinion between parents about whether their child should be taking medication for ADHD.
A Personalized Approach to Medication Nonadherence
At the Abarca Forward conference earlier this year, George Van Antwerp, managing director at Deloitte, discussed how social determinants of health and a personalized member experience can improve medication adherence and health outcomes.
Andrea LaFountain, Mind Field Solutions CEO
Among the other medical device and healthcare companies pitching were 1DocWay, Technical Vision and Cerora. Villanova Entrepreneurs Network’s next event is September 12.
