BME100 s2017:Group6 W8AM L2

BME 100 Spring 2017	Home People Lab Write-Up 1 | Lab Write-Up 2 | Lab Write-Up 3 Lab Write-Up 4 | Lab Write-Up 5 | Lab Write-Up 6 Course Logistics For Instructors Photos Wiki Editing Help
OUR TEAM Name: Madison Brandt Name: Hannah Griffin Name: Yvonna Chan Name: Drew Carlson Name: Keith Bush Name: Nate Gross LAB 2 WRITE-UP Device Image and Description Error creating thumbnail: Unable to save thumbnail to destination Error creating thumbnail: Unable to save thumbnail to destination Error creating thumbnail: Unable to save thumbnail to destination Error creating thumbnail: Unable to save thumbnail to destination Error creating thumbnail: Unable to save thumbnail to destination This product is designed to measure the users pressure distribution on their feet as well as their balance. The insoles can help a variety of people from the elderly, athletes and every day patients. There are gel pads that are placed on the insoles in various areas to help conform the users foot as well as to make it more comfortable. The gel padding is also used to help the user with their balance. For example, for an elderly patient who is falling over, gel padding can be placed by the toes to raise that area up and force them to apply more pressure on the heels of their feet which can help to eliminated the falling aspect. The users pressure distribution and balance charts will be transported to an app via Bluetooth for user to track their progress and data. Technical and Clinical Feasibility Technical Feasibility Score: 2 Creating the device should not be too complicated as there are already similar products on the market that are relatively cheap and easy to construct. The technologies needed for this product include the following: pressure sensors, gel pads, bluetooth/wireless charger, microprocessor, foam and mesh covering. There would not be many challenges or things to go wrong since we know the materials and methods to build the insole. The only challenge is that the insoles change slightly from user to user in regards to shaping the insole to their foot and their needs. However, it should not be too hard to get the correct measurements to provide the best fit and comfort for everybody. Clinical Feasibility Score: 3 Our product will have no problem in clinic since other similar products have already gone through and have been cleared and no longer have any problems. There have been many other products that have been in a clinical trial. During the trials, patients implant insoles into their shoes and then their data was wirelessly communicated to a smart watch or app where the patient could see their feedback and track their progress over time. Previous clinical trials have varied from a time range between five weeks and six months. Market Analysis Value Creation Customers will benefit from our improved design because not only is it more comfortable than those already on the market but it also a lot cheaper in cost. They are able to see their results as they are standing and walking which allows them to make changes more efficiently and to hopefully help them improve what they are trying to improve whether it is posture or balance. They will also be able to look back at past records and see their improvement and what they did to do so. Manufacturing Cost Using the 3x3x3 scale: Sensors (14): $89.04 Bluetooth/wireless charger: $15 Microprocessor: $30 Gel padding: $2.30 Foam pad/mesh covering: $10 Buying from second hand man: Sensors(14): $29.68 Bluetooth/wireless charger: $5 Microprocessor: $10 Gel padding: $.76 Foam pad/mesh covering: $3.33 Buying from first hand: Sensors (14): $9.89 Bluetooth/wireless charger: $1.66 Microprocessor: $3.33 Gel padding: $.25 Foam pad/mesh covering: $1.11 Sales Price Using the 3x3x3 scale, prices can range from $1,303.86 on the high end to $434.61 when buying from second hand manufactures and as low as $144.81 when buying from first hand. Market Size Our market size ranges from 80 million to 200 million users in the United States. In terms of dollars per year, our market size ranges from: 80 million people at $1,303.86: $104,308,800,000 200 million people at $1,303.86: $260,772,000,000 80 million people at $434.61: $34,768,800,000 200 million people at $434.61: $86,922,000,000 80 million people at $144.81: $11,584,800,000 200 million people at $144.81: $28,962,000,000 Fundability Discussion Competitors 2 Customer Validation 1 IP Position 1 Market Size 1 Competition 2 Technical Feasibility 2 Clinical Feasibility 3 Regulatory Pathway 3 Reimbursement 2 Fundability Score 144 Our current fundability score is 144 which shows that our product needs to be improved for it to be funded. Although our product is not high, we are continuing to do more research about the products that are currently on the market and how well they are producing and selling. The problem with the product is that it is not something that can save someone’s life and therefore many people many not look into buying the product, especially if it is marketed at a high price. However, if people are able to see a difference with their lifestyle and they are provided with more comfort when engaging in activities such as walking or running, it can be provide a major change in the users life.