Executive Summary-Medication Compliance Device

Topics: Marketing, Management, Prescription drug Pages: 4 (1435 words) Published: October 30, 2010
Executive Summary
Type of business:
The elderly often have multiple disease states and/or chronic conditions and consume an average of four to five prescription drugs and two over-the-counter drugs per day. Nearly 67% of all elderly patients fail to follow important dosage instructions for their medications. The risk of hospitalization due to adverse medication outcomes in elderly patients is almost 6 times greater than that for the general population; therefore getting this device for elderly is a good choice as it can be a portable reminder for them. * I-Beep Technologies (IBT) is a product based company.

* IBT manufacture and market an Alarm Medication Reminder device. * IBT not only a product based company; it is also a companion monitoring service to fill the medication compliance problem in Singapore by setting a reminder for elderly to take their medications. Problem and Opportunity:

* Problem:
-Elderly might not know to use technology devices when come to aid them in taking medication. -Elderly may forget to bring this device out with them to remind them to take medication. -This device is just meant to be a reminder, it is not able to track whether elderly, and do they take their medication once reminder is on. * Opportunity:

-This device is not out in the market yet. This product will enhance in self-reliant for elderly to promote interdependent in taking care of their health as this is just a reminder for them, not really can emphasize them in taking their medications. -It not only act as a reminder, it can also be used as a necklace, keychain and also a hand phone strap as it is light and portable. Technology:

IBT's mission is to provide people the opportunity to live better and healthier lives though the use of technology. We aim to provide medical systems for the home that will use patentable technology to ensure safety, ease of use and a continuous partnership with healthcare providers. * I-Beep has a Bluetooth...
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