Summate Awarded 7th US Patent....
September 30th, 2022
Newburyport, MA September 30th, 2022. Summate Technologies, Inc. announced today that it has received a notification of allowance from the US Patent and Trade Office for its 7th US patent. The utility patent centers on Summate’s ScanReady™ smart orthopedic tray technology, which enables scanning of orthopedic implant usage at point of use from inside the sterile field.
“One of the biggest headaches for the orthopedic industry is field inventory asset management,” commented Summate CEO Phil Sayles. “The amount of money that is expended on mundane field inventory support tasks, exorbitant overnight freight charges, and management time burden of remediating discrepant invoices and “bill only” charges is a multi-billion-dollar problem for the device industry, a bill which is passed on to the US healthcare consumer. ScanReady digital orthopedic sets and trays, and real time documentation and measurement of field inventory will dramatically reduce those costs, improve margin, and deliver supply chain efficiency for the entire device industry.”
Summate has developed an extensive suite of IP surrounding unique technologies and workflows that will bring point of use (POU) scanning to the healthcare operating room, which studies show represents 60% of hospital product spend. The benefits of POU documentation are enormous and broad, impacting financial, operational, quality and patient safety aspects of the entire healthcare system. The technology also brings automated documentation of complex orthopedic implant sets and trays to the sterile field for the first time.
“During my tenure we were constantly challenged with inventory management both at the field level and corporate level” according to Bob Bennett, former VP of sales at DePuy Synthes CMF. “ The manual process of accounting for implant placement was arduous and inaccurate. As a company, we had to account for implant usage when hospitals were loaned equipment. Consistently, there were discrepancies from what the hospital said they used and what we received back. Furthermore, at the hospital level, accounting for and billing for actual implant usage was always discrepant due to the manual accounting of implant usage. This created a significant loss of revenue. Point of view scanning eliminates all of this. Millions of dollars could be saved implementing this unique and proprietary technology by precisely tracking usage. Summate Technologies has a solution that solves this problem.”
Summate is currently in several pilots with medical device and healthcare provider groups in the United States.
About Summate Technologies. Summate Technologies has developed the ScanTrakker system, the world’s first total UDI documentation system for operating rooms that scans all product usage during surgery at true point of use.
For further information, please go to www.summate.net