Periodic Reporting for period 1 - SECONDS (On Time Emergency Response System)
Período documentado: 2019-03-01 hasta 2019-06-30
Late arrivals and long response times of Emergency Medical Services (EMS) not only increase the risk of death – 1-minute delay increases the mortality rate by 8-10% in critical incidents such as cardiac and neurological emergencies (>20% of medical emergency calls) –, but also induce severe long term physical damages such as neurological damage after an ictus and result into higher hospitalization costs. This problem directly affects society as potential patients, but also private health insurance companies and governments who should cover these surcharges. SECONDS is an innovative real-time emergency vehicle management software that optimizes emergency first aid coverage thanks to its predictive engine of incidents based on big data, neural networks and deep learning, which reduces the response time by 7%. The pilot system is currently at TRL7 and has been fully implemented with 2 EMS providers in the Netherlands. Now the objective is to adapt SECONDS software to make it highly customizable to the requirements of each target country/region and prepare its commercial launch.
The Feasibility Study conducted during this period includes a technical viability plan, a market research study and a financial assessment that allowed us to prepare the company roadmap for a potential Phase 2 execution. On the technical side, we defined the specifications that SECONDS must comply with to reach TRL9, outlined our technical execution strategy and performed a technical risks assessment including contingency measures. To ensure business success, we identified the most attractive countries through a deep market analysis and quantified their suitability by a comprehensive decision matrix, giving rise to a strong go-to-market strategy. Regarding financials, we prepared the project's sales projections for 5 years from the end of Phase 2 – confirming its economic viability – and envisaged a scale-up plan to properly manage the company expansion in the EU.
Our solution will allow EMS providers to improve their coverage and reduce their response times in the easiest and most affordable way. Other than reducing the risk of death and long-term damage in patients, our solution will facilitate the work of dispatchers, reducing their usual high level of stress and will reduce private and public health costs. By the 5th year of sales, we expect SECONDS to achieve a turnover of €17.6M and foster digital management services in health care throughout Europe.