September 26, 2024 (Waterloo, Ontario) – Studies across the world have shown that, on average, hospitals tend to use less than half of their medical assets at any given time. In addition, hospitals are likely to hold, on average, three times as much inventory as they need.
Technology Trace Inc., developer of the trevii data analytics platform and tracking technology, is pleased to announce a partnership with The Research Institute of St. Joe’s Hamilton to evaluate the application of trevii to improve the utilization of medical assets such as beds and stretchers, and how it could result in more effective resource management and patient flow. The study is funded through OBIO’s Life Science Critical Technologies and Commercialization (LSCTC) Centre of Excellence.
Improving medical asset management with trevii
The trevii technology is the world’s first private and secure IoT approach for medical assets. The trevii device attaches to medical equipment and provides real-time visibility of location, utilization and compliance status. Unlike conventional tracking technologies or embedded solutions, trevii operates independently of any particular equipment manufacturer, and tracks the details of medical devices anywhere in North America. The trevii technology provides tracking for equipment such as machines temporarily used in patients’ homes (for dialysis or infusion, for example) and the movement of medical assets shared across multiple care sites (wheelchairs, for example).
This evaluation will measure changes in the tracking, proactive maintenance, and downtime of the hospital’s assets. The data generated by the trevii platform will be used to identify potential monetary savings, enabling better capital purchasing decisions.
The trevii tracking solution hardware.
trevii is the world’s first intelligent tracking solution certified for medical asset management.
“We are so grateful for the ongoing support, trust, and investment of organizations like OBIO® and the LSCTC program that help us bring our product trevii to hospitals,” said Michael Becker, Co-Founder and CEO of Technology Trace.
“Hospitals like ours have limited resources and time. The purpose of the evaluation is to demonstrate how the innovative trevii solution tracks medical device assets in real-time and pulls multiple data sources together into a single view to show us the opportunities for saving money and improving access to patient care,” said Donna Johnson, Senior Director, Acute Operations, General Internal Medicine and Emergency Services at St. Joseph’s Healthcare Hamilton. “St. Joe’s fosters a culture of innovation and continuous learning, which serves as a catalyst to improving best practices.”
“OBIO® is pleased to support the evaluation of the trevii technology through our provincially-funded Life Sciences Critical Technologies & Commercialization (LSCTC) Centre of Excellence,” said Dr. Maura Campbell, President and CEO of OBIO®. “This project with Technology Trace exemplifies how 5G technology can be implemented to improve patient flow through medical assets management.”
The project is expected to conclude in Spring 2025.
About Ontario Bioscience Innovation Organization (OBIO®)
OBIO®, a not-for-profit, membership-based organization dedicated to advancing health technology innovation and commercialization, is prioritizing the evaluation and implementation of new solutions using critical technologies through its Life Sciences Critical Technologies & Commercialization (LSCTC) Centre of Excellence, supported by the Government of Ontario. OBIO® is engaged in strategy, programming, policy development and advocacy to further the commercialization of human health technologies, positioning Canada as a leader in the international marketplace. For more information, please visit OBIO.ca and follow OBIO® on LinkedIn and X.
About St. Joseph’s Healthcare Hamilton
St. Joseph’s Healthcare Hamilton is a premier academic and research health sciences centre located in Hamilton, Ontario. Innovation is woven into all aspects of the care that we provide and is a fundamental part of our culture. We lead disruptive innovation to create, test, and spread novel solutions that radically improve patient, caregiver, and provider experiences and outcomes. Our unique ecosystem enables industry-sponsored research, clinical trials, and innovative evaluations with world class researchers, clinicians, and learners, which are further supported by a diverse patient population. Learn more at stjoes.ca/innovation.
About Technology Trace
Based in Waterloo, Ontario, Technology Trace is an IoT hardware and software organization focused on implementing agnostic Medical Asset Lifecycle Management solutions for hospitals and medical device manufacturers. The trevii data analytics platform provides a single point of view to track medical device locations and utilization in real time utilizing a private and secure cloud-based platform. For more information, please visit technologytraceinc.com or contact [email protected].
Media contacts
Michael Becker
Co-Founder and CEO, Technology Trace
[email protected]
Mike Beattie
Research Communications Manager, The Research Institute of St. Joe’s Hamilton
[email protected]
Doriane Rey
Senior Manager, Marketing & Communications, OBIO®
[email protected]
