What was the [pre-money] valuation of your $1.5m fixed-price round completed January this year?

Barnaby, thank you for your question. The pre-money valuation before our $1.5 million raise was $8.0 million. With the same per share purchase price, we view this crowdfunding raise to effectively be an extension of that initial capital raise.

How are you protected from possible new competitors? What gives you a competitive advantage that is hard to copy?

We have entered into an exclusive trademark license agreement with Boston Children’s Hospital for the use of the I-PASS trademark in connection with handoffs in a clinical setting. You can read more about the specifics of that trademark in the “Intellectual Property” section of our Business Plan that is linked toward the top of this profile page. The I-PASS studies have been funded by $7 million of grant funding, starting back in 2009. The studies have been structured and executed in order to...

Will I get equity, bonds or some thing else when I invest? When can I sell my shares and on what market?

Sandy, thank you for your questions. We are selling preferred stock to investors, and depending on how much any investor purchases, you would receive either Series A Preferred Stock or Series B Preferred Stock. would further refer you to our Form C, which can be accessed through a link in the section under this Q&A section. Question 13 of the Form C includes a discussion of the terms of each of the Series A and Series B Preferred Stock. We are a private company, with no market where our s...

One of the biggest issues it seems to me is that all these various EMR (electronic medical records) systems don't communicate with one another. So a resident in a nursing home as an example will be on one EMR system at that home but the hospital she is admitted to is on anothe...

Thanks for your question Mark. Our offerings do not address the issue of the portability of patient data that you reference in your question. Our current offerings do include aspects of working with existing EMR systems at a given hospital. (Many often use the terms “EMR” and “EHR” (electronic health records) interchangeably, and we tend to use “EHR”). More specifically, our solutions focus is on improving the configuration of the existing EHR to better leverage existing information in the EH...

What is your traction? How many clients and revenue do you have and how fast has this number been growing month on month?

Thanks for your question. Following our March 2017 commercial launch of software as a service offerings, we are seeing a positive reception for our offerings, and the interest in our offerings has been growing. We benefit from the fact that the I-PASS Handoff method is widely recognized among medical professionals who are our target audience, and the I-PASS Handoff method continues to receive positive publicity with regards to the benefits that its adoption can provide. The sales cycles for h...

I-PASS Patient Safety Institute Updates, Team, and Funding Progress

1

Software as a service offering in commercial release in Q1'17 following our initial $1.5M sale of equity.

2

$7M of clinical research proves 30% decrease in adverse medical events with implementation of the I-PASS Handoff program.

3

April 2017, the I-PASS Study Group was by awarded the John M. Eisenberg Award for Innovation in Patient Safety & Quality by the Joint Commission and National Quality Forum.

4

I-PASS was the winner of the 2014 Cox Award & Finalist in the 2015 Harvard Business School / Harvard Medical School Health Acceleration Challenge.

5

A recent analysis of a large portion of national malpractice claims data from 2001 to 2011 showed that the use of a handoff process and tool, such as I-PASS, could reduce malpractice claims by 18%, or over $12 billion annually in the U.S.

I-PASS Patient Safety Institute

Saving lives by reducing medical errors caused by communication failures

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I-PASS Patient Safety Institute

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