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Clear Protocol

Raised to Date: 
$0

0%
Funded:
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ID: 
CP-2021-CF
Exemption: 
REG-CF
Issue Type: 
Convertible
Accredited Only: 
No
Reviewed Financials: 
No
Minimum Investment: 
$1,000
Suggested Investment: 
$2,500
Additional Investments: 
$500
Target Goal: 
$1,000
Minimum Goal: 
$50,000
Maximum Goal: 
$250,000
Raise Start Date: 
Thursday, May 20, 2021
Raise End Date: 
Tuesday, November 30, 2021
Raise Target Date: 
Tuesday, November 30, 2021

The major problems of healthcare can be traced to the use of computing devices, which create an information bottleneck at the point of care. Most clinical interventions happen alongside a patient, and devices that could be used, such as personal computers, iPads®, or smart phones, are impractical due to potential hand contamination, the inconvenience of being out of reach, out of view, interruption, and distraction.

The solution is Clear Protocol®, a patented software system that uses electronic wearables, is hands-free, and voice operated. Users can select a procedure and validate it in real time. Completed protocols are logged automatically. US Utility Patent 10,318,928B1. Clear Protocol® was specially designed to be used at the point of care, hands-free, in a practical way.

A solution such as Clear Protocol® "…has the ability to significantly impact improvements in quality, safety, efficiency, and effectiveness of health care." (Agency for Healthcare Research and Quality AHRQ, 2020)

In Use Today

Currently, the most effective solutions to avoid medical errors utilize a checklist, and then record the verification by manual data entry. But they share two limitations: (1) they are not integrated into the clinical care delivery, and therefore cause interruptions in workflow to manually enter data; and (2) they are not practical to implement permanently throughout a hospital.

According the HIMSS 2019 forecast “...providers will [be] expected to do more with fewer resources and reduce costs while providing higher quality and safer care...11,000 people per day in the U.S. reach 65 years of age. This increasing volume of patients, many with complex health issues... To meet these demands, health systems... will be forced to advance value-based healthcare delivery.” (HIMSS, 2019) Market Indicators Microsoft's recent $21B deal with the US Military and announcements by both Apple and Facebook underscore the importance that AR is expected to play in the future.

Current and upcoming AR hardware includes Vuzix Blade, Microsoft HoloLens, Epson Moverio, Magic Leap, Everysight Raptor, and Lenovo ThinkReality.

Competitive Advantage

We are the first comprehensive patented solution that: 1. operates on smart glasses, hands-free, 2. gives clinicians bedside access to the EMR, Rx and CPOE systems, 3. enables clinicians to validate and log clinical practice protocols (checklists) continuously and unobtrusively, 4. accepts any checklist used in health organizations. Our solution leveraged existing, mature technology – voice recognition – already in use in 90% of hospitals and embedded in the leading EMR systems: Epic, Cerner, Allscripts, and MEDITECH.

Go To Market

We plan to gain adoption by appealing directly to physicians as they experience the greatest pain points of wasted data entry time and potential malpractice liability.

Financial

[See slide above]

Our Team

We have a multi-disciplinary team with the right skills and key insights to develop a system that will eliminate worker errors. We are system integrators who know more than just hardware and software. Our team has experience and degrees in nursing, PhDs in Healthcare Informatics, Computer Science, Engineering; Finance, Project Management,Corporate Law, Intellectual Property Law, and a passion for assistive technology –building businesses and authoring scientific research in this area over many years.

Use of Funds

We plan to use the initial funds to complete our Hospital pilot study, continue software development, and produce product test units. Traction We have a working prototype, and we are raising funds for the final stage of development. There are about twenty specialized experts who helped or are helping with development.

Some notable collaborations:

  • Since 2016 we have worked with Dr. Zikos of Central Michigan University, Healthcare Informatics
  • A top US law firm, Sheppard Mullin, filed our patent (second patent expected in 2021)
  • UCLA computer science advised and programmed our proof-of-concept prototype.

Revenue Model

Recurring revenue will come from “per bed” or “per user” subscriptions. There will also be one-time setup and training fees.

Securities Offering

We are offering a 24-month convertible note with a 6% return plus a 30% discount or more for early investors off of a $4,000,000 valuation. See the PPM for complete offering details.