Non-adherence to prescription medication is one of the largest healthcare problems. The cost of non-adherence is estimated at $300 billion annually, including $100 billion from avoidable hospitalizations, nursing home admissions, and premature death —resulting in $188 billion in lost drug sales every year.
The healthcare industry has relied on self-reported and claims data to try to understand patient medication adherence. This data lacks timeliness, accuracy, and precision. There is no data available to show the relationship between patients and their medication as it happens—until now.
SMRxT’s medication adherence system, Nomi, accurately captures data to reveal how patients take medication.
● Translates data into actionable information for patient interventions and engagement.
● Empowers and improves patient behavior without the patient lifting a finger. Once the prescription is filled, the device is ready to use. There is no application set up, Bluetooth, or Wi-Fi connectivity.
● Impacts the patient’s behavior towards better health, but it also helps hospitals and health plans avoid preventable costs and boost productivity.
The SMRxT Advisors are made of up experts in their field including telecommunications, technology and finance.
An idea inspired by a momentous event: “I was walking around lower Manhattan right after the World Trade Center towers collapsed on 9-11,” Victor Chu, co-founder of SMRxT says. “I didn’t know how to help my fellow New Yorkers. So, I made a personal decision to pursue something useful that could help people.”
Victor began researching ways he could apply his expertise more meaningfully. “It became clear to me,” Victor explains, “that medication adherence was one of the biggest, if not the biggest problem in healthcare, and it was a problem that I could help solve as a technologist, inventor, and product designer.”
Victor partnered with Stephan Valter, SMRxT co-founder, and began modeling new designs. Around 2008, Victor and Stephan had a revelation. “We realized,” Victor explains, “that the data our product generated was more valuable than the product itself—not just to us, but to our customers and their patients.” That’s when they realized they weren’t inventing a new pill bottle, but an internet-based device that would help change the paradigm for taking medication.
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Pat McKinzie is the former Managing Partner of EC Manufacturing, LLC and EVP of Heatron, Inc.
The former was Contract Manufacturer for high volume consumer goods and the latter was a
resistive heating element company, both located in the Kansas City metro area. Pat was
involved in the ownership, was on the Board of Directors, and provided leadership of both firms
which served over 30 different high-tech markets, often in emerging technologies. Currently,
Pat is advising and investing in startup companies. Pat received an M.B.A from Rockhurst
University and a B.S in Mechanical Engineering from the University of Missouri-Columbia.