December 11, 2018
Under pressure by the opioid epidemic, healthcare has been issued a strict mandate to optimize pain management; the MOD is the only automated pain data and oral medication solution for hospitals wanting to stay compliant.
Avancen MOD Corporation is engaging Fundable to complete a Series B investment round to fuel its rapid growth strategy surrounding its premier product, the Medication on Demand oral PCA device, or as known in the healthcare market, the MOD®. Avancen’s MOD® System, comprised of its oral PCA device and proprietary data platform, is a turnkey solution addressing the new hospital accreditation issued earlier this year.
The MOD® device safely and efficiently automates oral pain medication delivery while the company’s MODTrac™ data platform documents and tracks pain scores at the patient’s bedside. Nurses are freed to spend more quality time with patients, ensuring better patient outcomes and satisfaction which translates into higher reimbursements for hospitals.
"As an ANCC Magnet hospital, we conducted a six-month study comparing the MOD® device and usual care delivery (manually, by a Nurse). In all five studied categories, patients using the MOD® device scored better.”
– Pain Certified Hospital Nurse Coordinator, Florida
Sharon Conley, MD PhD CPE, oncologist, inventor, and founder of Avancen, partnered with high-growth startup veteran Ned Buffington to bring the MOD® System to the marketplace. Together, with a dedicated internal team of product specialists and a network of specialty Med-Tech distributors, they are forging a strong foothold in healthcare, including four hospital customers with proven utilization increases; contracts with the two largest hospital group purchasing organizations [GPOs]; inroads into the Canadian healthcare system; and the start of an initiative to enter the Veterans Administration Medical Centers.
With a looming critical care nursing shortage, stiff reimbursement mandates and requirements, and a nationwide imperative to reform acute pain management practices, the MOD® System is poised to become the gold standard in oral pain management.
To learn more about Avancen MOD Corporation and this opportunity, visit our Fundable campaign .
About Avancen MOD Corporation – A South Carolina company medical device manufacturing company, Avancen MOD Corporation’s mission is to improve direct patient care, comfort and satisfaction through its product, Medication on Demand (MOD®), the world’s first oral PCA pain management system. The company’s goal is to provide continued and lasting value and support for its hospital and healthcare facility customers and the patients they serve.
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