Video Transcription
Jagosh Badnjarevic 00:02
My name is Jagosh Badnjarevic. I'm 30 years old, and I'm co-founder and CTO of BIOX. So for the past few years, IoT was all the rage, and in the past year or two, AI became everybody's favorite word, right? Both of those technologies revolve around the same thing, and that's access to structured data and lots of it. Unfortunately, medical technology is lagging far behind, and we had BIOX plan to address that. So our mission was always to give you data-driven health care and make it accessible to everybody. In 2019, I lived here in Portugal. Actually, I decided to quit my job and start something of my own. This is when I met my co-founder, Jason. He is a practicing MD, and he understands the need for access to medical data in real time and structured. So he wanted to design a medical device. Me, as an aspiring entrepreneur, of course, said no; I didn't want the job. But we kind of stayed in touch. A couple of months later, we started BIOX. We went full throttle like every new company, and then the pandemic hit. What this taught us is that the devices themselves are not that big of a problem. The looming issue is the access to the data. So we decided to pivot to software, and we found a couple of issues. Data is unavailable outside the room. Sometimes you have a central monitoring desk, but sometimes you don't. Nothing is connected. Nothing is smart. You can't access anything if you are not right there. There is a lack of integration, there is no ability to visualize any data. There is alarm fatigue, problems, a bunch of issues. To address all of this, we created our solution. It's our RPM platform, and we do multiple things. So this is basically a data analytics and performance optimization tool for hospitals just engulfed in an RPM platform. We have tools like digital rhythm stripping, EMR integration. We do our own alarm system that is very tailored for every facility we work with, workflow enhancement, warning scoring, we are HIPAA compliant privacy, and this actually solves most of the problems that I've mentioned before. Our software is vendor agnostic. We support more than 500 devices at this moment; you have a little, let's say, a snapshot of the platform here on the slide. So we know one thing in the modern medical industry, and that is, no matter the condition, the earlier something is done about it, the better the outcomes. Research shows, time and time again, that if you deliver timely and structured data to medical professionals, patient outcomes are vastly, vastly improved.
Jagosh Badnjarevic 03:45
As well as the institutional benefits. You can see some stats here. I don't want to read them to you if I don't have to, of course, but the impact is very, very big, especially in big and slow systems.
Jagosh Badnjarevic 04:11
All of these benefits will lead to inevitable market adoption. So this is an industry with 23% CAGR, and it's estimated to be about $42 billion in 2028 just in the US alone. You have 7,378 hospitals with more than like 900,000 staffed beds. Our revenue model is simple. We charge $1,000 to $2,500 per year per bed, depending on features that we provide and the size of the hospitals. At the moment in the US, 88% of the providers are evaluating remote monitoring. We are also open to licensing directly to other vendors and medical device manufacturers. We are open to partnerships with medical device manufacturers too. We have already partnered with multiple institutions like the University of Alabama, Birmingham, Defy Health Care, R Group, Wakefield Regional Hospital, and many, many others. I try to cut this as short as possible, but I'm available for any kind of demo, any kind of questions; I can show you the platform whenever you are free. If anybody has any questions, feel free to contact me through the app, send me an email, or call me on my phone, as well as my co-founder. Thank you very much. Applause.
