Report

Teaser, summary, work performed and final results

Periodic Reporting for period 1 - STETHOTELEPHONE (Device for improving the value of the Classic/Mechanic stethoscope – An innovative device for improvement, digitization and recording of the sound.)

Teaser

The Company propose a disruptive technology, with a strategic vision of mechanical functionality of the classic stethoscopes, proved by a continuous development of mechanical stethoscopes and increasing trust in mechanical stethoscopes by users, it provide devices for classic...

Summary

The Company propose a disruptive technology, with a strategic vision of mechanical functionality of the classic stethoscopes, proved by a continuous development of mechanical stethoscopes and increasing trust in mechanical stethoscopes by users, it provide devices for classic stethoscope.
The solutions proposed will allow less uncertainty in the first diagnosis, and software application for diagnosis support;
One of the most important value for the future will be the development of AI solutions for recognition of abnormal sounds.

The main objective of the Phase-1 has been to “assess the technological feasibility of the project by identifying critical risk and mitigation measures and by defining the expected upgrades to reach TRL9 and meet market demand.”The work was focused on develop a winning and innovative strategy, perform a sound market feasibility study and a detailed business plan to reduce time-to-market. The goal of our GTM strategy is to improve key business outcomes, also by accomplishing the unmet needs of our customers. We have created a detailed action plan with the following tasks:
1-Perfom a technical feasibility study to improve the knowledge of competitive solutions by comparing current state of the technology to user requirements, and identifying the key features that need to be enhanced to meet market demand. We have verified: Technical gap analysis and Technical upscale to bring the current prototypes of STETHOtelePHONE to TRL9 also by internal industrialization and logistics. Moreover, we have developed a Risk assessment and Contingency Plan in relation to main competitive solutions to address the action of Phase-2.
2- We have validated and improved our IP management strategy we have defined a strategy to limit the risk of reverse-engineering and patent infrigments and we have defined a trademark and legal protection for the device.
3-We have-defined a market entry strategy: we have verified customer needs analysis by feedbacks regarding user preferences, willingness to pay and product acceptance. We have started with a partner search (large scale production and healthcare facilities). We have developed an Action Plan and performed a
Pilot projects focused on different potential partner: Radbaud UMC, sint marteenklinik, Thermion Klinik in Netherlands. Private clinic, pugliese ciaccio hospital and university hospital in Italy.
4-We have designed a successful go-to-market strategy for both commercialization and/or licensing model, we focused on potential commercial partners and strategy of promotion; also in collaboration with our partner ROCKSTART DH accelerator.

STETHOtelePHONE bring the following key benefits for society:
1-Improve Classic/Acoustic stethoscope Register the natural sounds of the human body (sound fidelity)
3-Improve cardiology referral process and reduce the number of unnecessary referrals, patient anxiety and expensive testing (i.e. echocardiograms can range from $1,000 to $3,000);
4-Better user experience for clinicians by enjoying heart sound amplification, external noise reduction, wireless Smartphone connectivity, and EHRs integration;
5-Easiest evaluation of abnormal sounds: the auscultation can be stored and listened for second opinion. Thus will guarantee an improvement of diagnosis, a timely intervention and the possibility to start the therapeutic protocol in the early stage by increasing the quality of life of patients;
6-Remote Patient Monitoring (RPM): A wirelessly enabled stethoscope, like STETHOtelePHONE could prove beneficial for remote analysis. Basic analysis can also be performed by patient per provider’s instructions;
7-Medical students will be able to share auscultation with their professors for evaluation and better learning.
2- Versatility in the case of power loss and or/damage to the tool, the physician can utilize the classic stethoscope; moreover will be 51% less expensive than an electronic device being an add-on device (190€ vs 400€).

Work performed

Follows an overview of the work done and the results for the main actions described in the grant.
Task 1: Technical feasibility study
T1.1 Technical gap analysis: we compared current state of technology to user requirements and identified the key features that need to be enhanced to meet market demand. In addition, we selected the right API aggregation service with the aim to share mHealth data obtained through STETHOtelePHONE with other mHealth Apps.
T1.2 Technical Upscale: we created a plan to bring the current prototypes of STETHOtelePHONE to TRL9, and verified the feasibility of the product industrialization in relation to internal industrialization and logistics.
T1.3 Risk assessment & Contingency Plan: we identified, and described the mitigation actions, we included management, financial, technical challenges partners and market trends.
T1.4 IPR protection strategy: we definied opportune countermeasures to limit the risks of reverse-engineering and patent infringements and definition of a trademark, and its related legal protection.
Task 2: Market Feasybility study
T2.1 Customer and market survey: We interacted with our target clients and was highlited the user requirements, needs, willingness to pay and product acceptance. We verified primary and secondary target market starting with Netherland and Italy marketplace at first, than France and Germany; than we focused to the Asia-Pacific area as main reference for STETHOtelePHONE market entry in developing countries.
T2.2 Go-to-market strategy: based on the results of T2.1 thanks to a collaboration with our partner ROckstart accelerator, we definied a proper go-to-market strategy
T2.3 Commercialization strategy: we analyzed and setted up a commercialization model
• For direct commercialization - analysis of stakeholders to involve and definition of the dissemination strategy
• For commercialization trough distributors – analysis of potential international partners and geographical segmentation.
T2.4 Partner search: we interacted with healthcare facilities and stakeholder in the reference Countries. Strategic was the partnership with ROCKSTART accelerator and EIT health

the main result concern the product acceptance and the technical upscale, the first trial with commercial partners and the industrial setup for the next phase. Moreover we estended our patent pool and we worked on brand recognition and product differenziation in terms of appeal for the market.

Final results

STETHOtelePHONE (new brand SONE) is the unique device, protected by a PCT patent, able to digitize the natural sound exactly as it is heard by the examiner. All the Electronic stethoscope on the market, depends critically on the electro-acoustic properties of the sensors, used to acquire the signals of interest, and this is reflected in no existing acoustical standards for characterizing electronic stethoscopes; This lack, reduce the trust of physicians in an electronic based auscultation; they need to be trained for the sound electronically transduced. This project has the ambition to allow a better diagnosis of COPD and valvulopathies. Furthermore, STETHOtelePHONE will strengthen RPM services.
European data show the business opportunity: at least 1 out of 5 people suffers from chronic diseases suitable for homecare and 4 out of 5 citizens classify medical errors as an important issue. Patient anxiety, due to uncertain diagnosis, is reflected in expensive additional testing: the average price for an echocardiogram range from $1,000 to $3,000. The Global market demand of digital stethoscope from 2018 until 2022 is of 8 Million units.

Website & more info

More info: http://www.sonehealth.com.