One out of 6 patients gets wrong medication during their stay in a hospital. For one out of 15 this leads to serious medical side-effects (ADE - Adverse Drug Event). Hospitals are increasingly looking for ways to track and trace medication all the way to the patient to ensure the patient gets the right medication (5 Rights).
At the same time, hospitals are increasingly confronted with budgetary constraints requiring their operations to become more effective by eliminating low value added activities. This cost focus also leads to increasingly fast turnarounds of patients at the hospital resulting in frequent therapy adjustments and thus frequent changes in medication prescriptions.
The current medication distribution processes are unable to cope with these new needs for traceability, efficiency and responsiveness. Often the required medication is not available when needed and over 20% of the medication distributed by the hospital pharmacy is to be returned. The result is an increasingly inefficient logistic process with lots of interruptions, rework and medication errors as a result.
ethilog helps hospitals to build safe, lean, versatile and affordable medication distribution processes that cope with their current and future requirements for medication management.
ethilog offers an integrated solution with both equipment to make medication traceable at the unitdose level and systems to dispense that medication in an effective, responsive way.
ethilog combines industry proven concepts such as pick-to-light, e-kanban , data-matrix scanning and lean management principles (JIT/FTR) with selective, smart automation to streamline the medication distribution process and to eliminate rework and non value adding activities. These solutions enable further automation of all related administrative and backoffice processes.
The ethilog solution is modular and can be tailored to the specific needs of each hospital, even for midsized and small institutions.
The ethilog solution is also the first truly open system that allows to integrate all kinds of unitdose medication, including third party solutions and UD-initiatives from the pharmaceutical industry.
This makes the solution cost effective, robust and future proof compared to competitor solutions that all require their proprietary repacking (overwrapping) system that results in additional costs and extra workload for the pharmacy and nursing departments.
THE INVESTMENT OPPORTUNITY
ethilog is looking for additional funding to further develop its sales and implementation capabilities and to continue its product development roadmap.
ethilog is looking for one or more financial investors with a strong interest in healthcare technology or for an industrial investor with complementary activities and a strong commitment to the healthcare sector.
If you are interested in a potential investment in ethilog please leave us your coordinates below or call us and we'll get back in touch soon to discuss the opportunity in more detail.