Philadelphia-based PainQx is working on a software that promises to objectively answer the question: How much does it hurt? Using EEG measurements, the company will be able to get meaningful data which can then be used for further treatments.
“When patients are presenting pain, doctors are left with nothing more than an educated guesstimate,” CEO Frank Minella said. “Inaccurate pain measurement leads to inaccurate pain management.”
Advances in brain mapping will allow PainDx to study electro-activity data from an EEG headset to map out a patient’s pain reaction. For that endeavor, the company has licensed technology from the NYU School of Medicine, has thus far, managed to raised about $1.3 million.
PainQx’s ultimate goal is to change the standard of care in pain assessment.The ultimate goal of the company is to change the standard of care in pain assessment; in the meantime, PainQx has an incremental plan to validate the tool and bring it to fruition.
They’ll start out by working with CROs and pharmaceutical companies for pain management clinical trials. The average pain clinical trial cost, according to Minella, is about $105 million – so the use-case of any pain measurement device will be to improve data, reduce costs and have a cleaner population of patients.
The next step is to transition into nursing homes and assisted living centers, where patients can have problems to communicate pain.
Finally, the case for payors and providers is cost reduction, building out objective quality measures and monitoring data. And, of course, the ability to reduce opioid abuse.
According to the book titled “Pain in America: A Blueprint for Transforming Prevention, Care, Education and Research.,” overtreatment and addiction to pain meds comes with an estimated costs ranging between $560 and $630 billion.