PARALLAX HEALTH MANAGEMENT
Our goal is to deliver a service that will allow clients who operate medically related residential based services to reduce costs, increase revenues and provide a better client experience through the adoption of innovative new technologies of the Internet of Things ("IoT") and particularly the numerous possible combinations of products represented by the QOLPOM Hub, a medication dispensing, management and remote monitoring system developed by various health care technology companies in the last few years.
Products and Services
Parallax Health Management is a wholly owned subsidiary of Parallax Health Sciences, Inc. Parallax Health Management is creating a home health hub to support remote patient monitoring, medication adherence and tele-medicine; regardless of where you live or what language you speak. The product line is named and trademarked QOLPOM. QOLPOM Hub is a personal medication dispensing and remote monitoring solution that ensures seniors and Chronic Care Patients at home (or elsewhere), take the correct medications on time and notifies caregivers if they miss a dose. It can also capture (through external sensors), monitor and store vitals along with the electronic patient record for better follow-up by doctors and pharmacists. It gives users access to digital health care and telemedicine.
Parallax Health Management offers the most complete, cost effective, evidence based and flexible remote health solutions in the market place today. Applying technological supports to assist individuals in their day-to-day functions is not a new concept. There are an abundance of isolated services and many applications for a whole host of issues. Parallax Health Management provides an integrated, secure and scalable platform for collecting, transmitting and analyzing biometric data across a variety of wellness and clinical devices, including both fitness and clinical applications, for payers, providers and clinical professionals.
Parallax Health Management identifies the most sophisticated and up to date technology to support state of the art evidence based therapeutic and skill developing interventions to provide uniquely tailored services for each individual client. Parallax Health Management uses a new breed of human service providers referred to as QOLPOM Technology Counselors (QTC).
There are individuals trained in the art and sciences of behavioral and medical assessment, case planning, treatment and evaluation. They are also trained to complement these services with appropriate technologies that facilitate the care and treatment of each client. The primary outcomes that the QTC seeks are to increase/sustain independence and harness appropriate cost effective treatment technology assets to improve/sustain current functioning. Parallax Health Management, Inc. featured offerings are:
- Remote Patient Monitoring
- Wireless Medical Devices
- Data Collection & Transmission
- Secure Monitoring Center
- Chronic Disease Management
- Clinical Research Platform
- Home Monitoring Kit
- FDA Logistics Deployment Center
To visit Parallax Health Management, Inc., please click here.
Costs and Benefits
It is clear that the personal QOLPOM Hub robotic, cloud-based, medication dispenser and health monitoring device aggregator is the core of this new environment. But “how much does it cost”. The QOLPOM Hub can be leased for about $100 per month. Other sensors, devices, alarms and software (described briefly above) would represent additional costs. The cost for each of these is highly variable and is beyond the scope of this exercise as the selection of each is highly variable and dependent on client needs and management desires.
In addition certain point of care diagnostic tests can be performed at home and monitored and have the results analyzed/diagnosed. A doctor is able to make a prognosis without the expense or inconvenience of a doctor’s visit.
- The typical medical residence has 100 clients/residents.
- 40% of them are on a complex regimen of medications and require and/or would benefit from support in taking them.
- QOLPOM would charge $85 per month for monitoring, alerts and access to the patient web portal for caregivers and those in the patients Patient Care Circle.
- The built-in cellular connectivity is not required as additional monthly cost may be associated with this type of connection. Ethernet or WiFi can be used.
- The QOLPOM system has a useful lifespan of 5 years (amortization).
- The QOLPOM can be reassigned to a new resident following the departure of the former user.
- Administering medications to clients/patients that require them is currently a manual process that requires an attendant to sort, verify, organize, transport and administer medications to individual patients.
- Attendant labor is $18 per hour ($24 fully loaded incl. vacation, insurances etc.).
- 20 minutes per day per patient are required to distribute and administer medications 4 times per day (a very modest estimate).
- Any manual process is prone to human errors (and corporate risks and responsibilities).
- Patients and patients’ families are willing to pay for enhanced services including health and condition monitoring.
- Residences have the opportunity of charging for enhanced services and superior care
A Win-Win-Win-Win for all Stakeholders
Benefits for Patients
- Better quality of life
- Fewer hospital visits
- Better outcomes
- Reduced travel and health costs
- Increased social interaction with family and friends
Benefits for Patient Families
- Better visibility into the quality of life of the loved one
- Fewer hospital visits – fewer interruptions into their work days
- Better outcomes
- Reduced travel costs
- Increased peace of mind – reduced stress and concern
Benefits for Medical Residences
- Better overall quality of life in the residence
- Reduced risk and liability
- Superior service
- Reduced labor costs
- Increased revenues for enhanced services
- Superior reputation / higher desirability / increased ability to charge for core services
Benefits for Health System Stakeholders
- Increasing medication adherence through automation, empowerment and monitoring improves patient outcomes and achieves benefits for all health system stakeholders:
- Government, insurance and other payers reduce spending - patients who are more adherent with medication regimes use fewer health services
- Healthcare professionals and providers deliver better care more efficiently at lower risk
- Pharmaceutical companies increase profitability and deliver value beyond the pill
- Pharmacy retailers ensure repeat orders, increased fulfillment and enhance brand loyalty
- Physicians have the ability to become proactive, rather than reactive
- Every one percent improvement in medication adherence results in $2 billion in savings to the U.S. healthcare system and a $4 billion revenue increase to pharmaceuticals
- Differentiation in the marketplace for early adopters
- Clearly, as with the introduction of any new technology, there is a significant market differentiator for early adopters; medical residences, assisted living facilities and long term care facilities all exist in a competitive environment in which differentiation + higher desirability = higher profits. Unlike other service businesses, medical residences have the ability to attract clients for the long term
- Early adoption simply makes good business sense