iXOPE

The removal of ear wax and foreign body from the eye are common problems which require appropriate treatment in Emergency Departments to prevent permanent damage to the eyes and ears. The average cost for a non-admitted Emergency Department presentation in Australia costs AU$755.

Every year, there are approximately 14 million presentations to clinics and hospitals across the U.S.A, Europe and Australia related to ear wax and foreign bodies in the eye. This costs the public health system in each of these countries around AU$1 billion annually. In Australia alone, there are around 120,000 hospital presentations of foreign body removal from the eye, costing the public health system AU$61 million every year. Therefore, using the iScope means such procedures can be undertaken by the general practitioner which has the potential to reduce public health costs by 64%. This would save around AU$49 million dollars every year in Australia.

iXope is a cost-effective solution which could save Australia $78 million with removal of ear wax removal and foreign bodies from the eye every year. Including $49 million of cost of Illness averted and $30 million of productivity gains , the economic and non-economic benefits summing up to $79 million for Australia alone.

General practitioners often don’t have ear microscopes available in their clinics and instead must use ear syringing; a procedure which comes with a 1 in a 1000 changes of complication. Delays in treatments or associated procedure complications causes an increase in costs for the public health system. With iXope, general practitioners can offer microsuction for ear wax removal or other conditions where a clear view to the eardrum is available. This would mot only free time for specialists and hospital doctors but also a useful approach in improving safety measures in the community.

Furthermore, treatment by the general practitioner would make these procedures more accessible and affordable for the Australian community.

Thanks to the iXope’s specialized features, images can be easily shared with other health professionals to improve collaboration and communication and ultimately streamline patient management. Specialist advice is particularly sought after for eye conditions which often requires slit lamp examination. However, usually patients must be sent to emergency departments before they are able to see the designated hospital ophthalmologist. Therefore, sending images live from the general practitioner to the specialist would streamline the process, meaning patients can be treated during the same consultation by their general practitioner after receiving specialist advice. This reduces the need for two additional consultations and has the potential to reassign around 2 million hours annually for hospital doctors across the U.S.A, Europe and Australia.

Remote areas are often very limited when it comes to accessing essential medical services. Unfortunately, this often means that patients located in remote areas are very limited when it comes to their healthcare. This can lead to a significant delay in treatment and risks harming the patient further if their condition is not treated accordingly. Additionally, patients have to bear in average $1,000 in travel cost to attend their appointment coming from remote and rural areas. With 28% of the population living in this area it comes to $1.5 million in Australia every year. Therefore, to help prevent this, the iScope enables trained personnel to conduct examinations and send images to specialists for review and treatment advice. Through intervening at the earliest stage possible, patients will receive instant treatment and relief.

Junior doctors regularly have rural rotation and require supervision. By exchanging images using the iXope, doctors in training can access vital support during their rotations and increase patient safety. Furthermore, it is estimated that half of the world still lacks access to essential health services. Since the iXope can be used by any trained health professionals, not just a doctor, it can assist in improving access in developing countries that need it most. This is especially the case for countries who have a large portion of their population located in remote areas with limited access to resources and medical services.

The iXope is a first-of-its kind Australian made high-quality medical device. Over the next 10 years, we have a goal of manufacturing 56,000 units in Australia, which is valued at AU$160 million. The iXope is not only set to revolutionize the medical device sector but also create 123 jobs and training positions within the industry in the coming 10 years. In this timeframe, we are estimated to export 43,000 units, valued at AU$130 million, to our key markets in the U.S.A and Europe. By year 10, iXope’s operations and market share are projected to increase the annual Australian economic impact to $42 million in output, $22 million in GDP and $11 million in incomes.