Falls prevention with Bide

Medipex helped the team develop a value proposition based on in-depth competition analysis and feeding information into a cost-consequence model.

The customer need:

As people age, there is a higher chance that they will have accidental falls, These can have serious consequences, such as hospitalisation, and loss of independence, and some are fatal. A former GP, who saw the devastating effects of falls on his patients and their families, and the costs to the NHS and Social Care, invented a bedside device designed to prevent falls at night-time. This device called ‘Bide’ has sensors that detect both movement and light. When triggered by an individual moving to get out of bed, a pre-recorded message from a loved-one or carer is played, gently reminding them of their whereabouts, to take care when getting out of bed or to press their buzzer to ask for help. It gives confidence and feelings of independence to at-risk individuals and reassurance about their safety to their family or carers.

Project challenge:

At this stage of the project, Bide manufacturers, Peak Medtek Ltd, needed support to obtain objective, evidenced data and information to aid the development of a compelling business case to increase sales of Bide directly to consumers (B2C) as well as to businesses (B2B) such as care homes.  In addition, this information will be useful to attract additional funding or investment to support further product development and market expansion.

How did Medipex help?

Medipex provided an independent review of direct and indirect competitors, including an analysis of the features and limitations of each, in order to highlight the key benefits of Bide that differentiates it from the competition. The work was based on a combination of desk-based research and a survey of potential customers. The findings contributed to the development of a value proposition for B2B and B2C sectors to help potential customers to understand the benefits of Bide over the competitors. Medipex also worked closely with a value analyst at Market Access and Reimbursement Solutions Ltd. who developed a bespoke cost-consequence model to demonstrate the potential cost savings to care homes and the healthcare system if Bide was introduced.

Impact:

Peak Medtek Ltd, and their associated AHSN (an Academic Health Science Network), gave very positive feedback about the usefulness of the report, which will hopefully lead to further funding opportunities.

Peak Medtek Ltd report that the competition review has been very valuable for formulating discussions with investors and potential purchasers of Bide. In addition, the market analysis work allowed cogent arguments to be made regarding the benefits of Bide not just in terms of financial savings but regarding additional parallel benefits such as reputational and quality of offering.

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