Value Proposition

ThreadRite IV brings value by reducing nurse time for IV placement (reduced personnel costs),reducing patient pain (customer satisfaction) and therapeutic delays (clinical outcome benefit) as well as reducing the high rate of complications(extravasation, thrombosis) which result from multiple IV attempts (risk management). Failed IV attempts are not reimbursed and increasingly insurers will not pay for complications.

Market Opportunity

There is an unmet clinical need for nurses and medical staff to be able to accurately and successfully place an IV catheter on a first try inpatients with more difficult veins such as diabetics,the elderly and infants. This cohort makes up 25%of adult and 45% of pediatric patients with attributable cost increasing from $20 to approximately $60, $90 or >$120 when 2, 3 or more attempts are required (median 2.2-2.8). Over 1.2 billion IVs were purchased in N. America and difficult patients comprise ~130 million cases.

Competitive Landscape

Single use IV catheter/needle systems consist of a needle with a catheter overlying and require the operator to recognize blood return then advance the catheter into the vein without guidance. Guide wire techniques provide guidance but require time consuming sterile set up. Ultrasound and light based vein finders demonstrate vein position but do not provide assistance in recognizing vein entry or with catheter advancement into the vessel.

Technology

ThreadRite IV use electrical guidance to quickly,accurately, and easily place an IV maximizing successful placement on the first attempt. Unlike traditional catheter systems and ultrasound detection,the ThreadRite system gives instantaneous feedback as to when a vein has been punctured both to prevent passing through the vein and to give feedback as to when to thread the catheter. In addition the design incorporates a guide wire to facilitate successful “threading” of the catheter into the vein. These advantages are distinct from all other products that merely identify where veins are located. ThreadRite IV is designed to increase the incidence of first time IV placement success in the 25% of all patients who
are “difficult” and require 2-3 attempts on average.

IP Status

Invention disclosure was filed 1/26/2016. Prototype development presently underway with $23,000 in grant funding to support it. No public disclosures have been made.

Stage of Development

Prototype development underway.

Funding

-University of Pittsburgh (Pitt) First Gear program $3,000
-Pitt Center for Medical Innovation Grant $20,000
-Pitt CTSI PInCh Award – round 2 application for $100,000 under review