Edison Nation Medical Seeks Product Innovations that Provide Cost-Saving Opportunities within Healthcare Settings

General public encouraged to submit ideas for devices and tools that reduce costs.

Dec 08, 2014, 09:52 ET from Edison Nation Medical

CHARLOTTE, N.C., Dec. 8, 2014 /PRNewswire/ -- Edison Nation Medical, the premier healthcare innovation marketplace, announces a worldwide search for solutions that provide cost-saving opportunities within healthcare settings. 

Innovation ideas can include, but are not limited to, new devices, technologies and apps that provide immediate and/or direct cost reductions within healthcare settings, such as a hospital or medical office. Innovations that allow for similar or improved outcomes, or improved efficiency at a reduced cost, are also encouraged to participate.  Edison Nation Medical will carefully evaluate all inventions submitted, working to commercialize the most promising ones and sharing the resulting royalties or revenues with the inventor.

The Edison Nation Medical Cost-Saving Innovation Search is open to the public. Submissions should be made to Edison Nation Medical's confidential and secure online portal, www.EdisonNationMedical.com/Savings, now through December 2015.        

Hospital systems across the U.S. are struggling to eliminate millions of dollars in expenses and reduce costs in response to the implementation of the Affordable Healthcare Act. In the current healthcare climate, there is increased scrutiny surrounding costs, clinical outcomes and product utilization. The scope of potential cost-saving innovations for hospitals touches every aspect of the acute care setting. As such, individuals throughout the entire spectrum of care are invited to share their invention ideas.

"Every hospital around the country is laser focused on cost-saving strategies and technologies right now, while improving — or at least maintaining — current patient care and outcomes," said Robert Grajewski, president of Edison Nation Medical.  "We know there are many opportunities and ideas out there to greatly reduce costs, and we're excited to capture and help commercialize the brightest ideas that help hospitals deliver better care, while spending our healthcare dollars more wisely."   

All submissions can be submitted online, and will be evaluated by Edison Nation Medical's team of medical, intellectual property and product development experts. Edison Nation Medical will then work with contributors to commercialize the most promising inventions, sharing all licensing royalties or revenues with successful inventors.

The search is open to the public. Individuals, small businesses, and technology transfer offices from around the world are encouraged to submit inventions through a secure, confidential portal. While the Cost-Saving Innovation Search is a year-long program, submissions will be reviewed and evaluated on a rolling basis. For more information, go to www.EdisonNationMedical.com/Savings

About Edison Nation Medical

Edison Nation Medical is a healthcare innovation marketplace with deep expertise in open innovation, product development, and medicine. Born out of collaboration with Carolinas HealthCare System, the second largest public health system in the United States, Edison Nation Medical's mission is to break down the barriers to healthcare innovation. We make this a reality by providing a clear and easy pathway through our open innovation platform for anyone — physicians, nurses, entrepreneurs, even patients and caregivers — to submit a medical invention idea for full evaluation and potential commercialization.

Edison Nation Medical innovation headquarters is in Charlotte, N.C., with satellite offices in San Francisco and New York City. For more information, please visit www.EdisonNationMedical.com, or find Edison Nation Medical on Twitter, Facebook, and LinkedIn.


SOURCE Edison Nation Medical