Periodic Reporting for period 1 - MyTherapyTools (ABI telerehabilitation system with high impact in patient’s wellbeing at limited cost)
Reporting period: 2016-12-01 to 2017-04-30
Curative and rehabilitative care have become a real challenge for developed countries, as they already account for more than 50% of the total healthcare expenditure. Acquired Brain Injury (ABI), the leading cause of death and permanent disability worldwide, represent the main component of these costs, and their prevalence is also growing at great rates. Due to the ABI´s patient chronic condition, the only way to lessening effects or slowing down their disorder is following strict rehabilitation therapies. However, the current rehabilitation model presents a major shortcoming: Lack of impact on patient’s wellbeing at great healthcare cost. In addition, the potential of using telemedicine as an alternative is being hindered by the reduced participation of the clinical community, which turns into solutions that do not address the real ABI patient needs for a successful treatment, such as therapies that, on one hand, combine motor ability, cognition and sensory capacity and, in the other hand, are perceived by the patient to have a real positive impact in the quality of their lives, for which rehabilitation needs to be very intensive and, ideally, have the possibility to use it in real time and environments.
After 6 years of research at The Institute of Functional Rehabilitation (IRF) of La Salle University, we have developed integral exercises for the telerehabilitation of ABI, mainly focused in “medium-level” injured to train Activities at Work. We have compiled into a modular platform called MTT. It covers the need for a high performance ABI telerehabilitation Platform which can transfer therapy to work and train all related core functions (motor, cognitive and sensory) simultaneously.
MTT operates within the market of Virtual Reality and Telerehabilitation technologies that are experiencing a stunning high growth: CAGR of 19% and 76%, respectively. During the SME-Phase 1, we have elaborated a detailed Business Innovation Plan to make us ready for Phase 2 and market uptake following these main objectives: Market study and Validation activities, New Product Development, deeply studying relevant regulation, monitoring a very dynamic market and IPR integral strategy.
After 6 years of research at The Institute of Functional Rehabilitation (IRF) of La Salle University, we have developed integral exercises for the telerehabilitation of ABI, mainly focused in “medium-level” injured to train Activities at Work. We have compiled into a modular platform called MTT. It covers the need for a high performance ABI telerehabilitation Platform which can transfer therapy to work and train all related core functions (motor, cognitive and sensory) simultaneously.
MTT operates within the market of Virtual Reality and Telerehabilitation technologies that are experiencing a stunning high growth: CAGR of 19% and 76%, respectively. During the SME-Phase 1, we have elaborated a detailed Business Innovation Plan to make us ready for Phase 2 and market uptake following these main objectives: Market study and Validation activities, New Product Development, deeply studying relevant regulation, monitoring a very dynamic market and IPR integral strategy.
During the phase 1 period we have gathered a very qualified and committed team to develop MTT project faster. Now we are nine experienced professionals giving our best to make MTT a reality.
We have attained great advances towards product termination, running fruitful LEAN-based processes with reference figures of our main stakeholders: doctors, therapists, patients and their associations, health institutions, insurance companies, foundations related to labour inclusion and corporations. This has allowed us refining our product concept and market uptake strategy, as well as shaping our revenue model. Finally, it has become the seed for important alliances.
Our IPR protection is advancing and the strategy is completely defined. We are having success stablishing relevant partnerships. Details about all these issues can be found in the Feasibility Report.
We have attained great advances towards product termination, running fruitful LEAN-based processes with reference figures of our main stakeholders: doctors, therapists, patients and their associations, health institutions, insurance companies, foundations related to labour inclusion and corporations. This has allowed us refining our product concept and market uptake strategy, as well as shaping our revenue model. Finally, it has become the seed for important alliances.
Our IPR protection is advancing and the strategy is completely defined. We are having success stablishing relevant partnerships. Details about all these issues can be found in the Feasibility Report.
The overall goals of our business project are to help:
1. ABI patients gaining autonomy and inclusion, with particular focus in their participation in the labour market, by developing exercises especially designed to reproduce the real tasks they are going to carry out in a potential work position (Activities at Work -A@W).
2. Their therapists, since they could have access to extensive and accurate data to be able to give better advice and adjustment of therapies. Also, to aggregated data for further research around ABIs (IRF has already shown great interest in this).
3. Hospitals and clinics to reduce ABI rehabilitation cost in a 50% and, at the same time, increase impact in the quality of life of patients.
The overall plan is to commercialize MTT first in Spain and speed scalability at international level through a network of allies. Thanks to this strategy, we expect to grow to reach a turnover of €19,17 million and 82 employees by year 2022.
1. ABI patients gaining autonomy and inclusion, with particular focus in their participation in the labour market, by developing exercises especially designed to reproduce the real tasks they are going to carry out in a potential work position (Activities at Work -A@W).
2. Their therapists, since they could have access to extensive and accurate data to be able to give better advice and adjustment of therapies. Also, to aggregated data for further research around ABIs (IRF has already shown great interest in this).
3. Hospitals and clinics to reduce ABI rehabilitation cost in a 50% and, at the same time, increase impact in the quality of life of patients.
The overall plan is to commercialize MTT first in Spain and speed scalability at international level through a network of allies. Thanks to this strategy, we expect to grow to reach a turnover of €19,17 million and 82 employees by year 2022.