United States Today
Physicians see 2.5 million patients per day in the US alone. In over 60% of those visits, the physician needs to order diagnostic tests to guide treatment or monitoring of their patient. Traditionally, a physician sends a patient sample to a reference lab and waits 1-5 days for the results. Because physicians lack an affordable technology to deliver real time, lab quality results, the physician is either forced to make decisions without the information they need, or schedule the patient for a second visit. This process is slow, inefficient, and penalizes the patient with suboptimal care, and the physician with the burden of overhead associated with two patient contacts, yet with reimbursement for only one visit. In this healthcare model, the biggest winner is the reference lab that captures all the testing revenue.
Global Healthcare Today
Healthcare in India, China, Africa, Eastern Europe and South America all have one thing in common: healthcare services are anchored in centralized locations and are available only to those who have geographic and financial access. The underserved healthcare population throughout the world is immense. In the rare cases that patients do gain access to treatment, they often travel many miles to central labs located miles from the nearest towns. The critical need for an affordable, easy to use by low skilled labor; diagnostic technology that can be distributed throughout each country remains a well-documented unmet need. Developing countries with minimal legacy healthcare infrastructure in place are fertile and receptive markets for the application of a robust, enabling, and most importantly, low cost technology solution. These emerging healthcare systems have the highest annual growth for diagnostic technologies in the world and are projected to remain so for the foreseeable future.
Parallax is focused primarily on serving the multi-billion outpatient Infectious Disease testing market with a platform that combines reference laboratory quality, real time results in the doctor's office and a menu of most commonly ordered tests. Reference labs do not have the infrastructure to cost effectively provide immediate results to physicians. Alternative Point of Care (POC) products are limited in scope, too expensive or too complex for wide-scale adoption. The Parallax system, however, is a technology-enabled system to improve patient outcome and improve physician office efficiency. As compared to reference labs or POC alternatives, Parallax Target System can deliver a combination of benefits not possible in any other solution.
The Parallax Point of Care Target System diagnostic system has a unique, Micro-Flow enzyme-linked immunosorbent assay (ELISA) technology that when applied to critical diagnostic tests can transform the way global healthcare is provided. This technology allows Parallax to put a large number of reference lab quality diagnostic tests in the hands of global healthcare providers in the locations where they care for their patients. The Company is focused on tests that detect or monitor infectious diseases. Reference lab quality, real time, easy to use, and low cost diagnostic testing lets physicians treat their patients in one visit. Parallax’s Target System will improve patient care and physician practice efficiency.
Parallax Target System Platform will unlock the potential of POC testing. This USPTO and International Patent Pending technology and process platform has the potential to transform global healthcare by providing a completely integrated solution that puts critical infectious disease diagnostic testing in the hands of the healthcare provider in real time. The results will dramatically improve patient care and physician practice efficiency.
Proven Lab Quality Diagnostics
Clinical Studies and FDA clearance has proven that the Target System can match the high quality standards set by reference labs. The diagnostic platform is based upon a proprietary micro-flow vacuum technology that delivers both qualitative and quantitative results.
Parallax Target System has the capability to test for a wide variety of infectious diseases or medical conditions. Each disease test has a disposable cartridge where the test is conducted, and inserted into a small desktop or handheld reader (in Development) with the results ready in minutes.
Real Time Results
Reference lab results often take 2-5 days to report to the physician. These systemic delays, prevalent in the current physician practice workflow, result in more non-billable work for the physician and his/her support staff, as well as unnecessary delays in treatment.
Compared to reference labs that require the patient to be seen on two separate days the, Parallax Target System results are available in minutes allowing the physician to review results with patients and make clinical decisions in one visit.
Cost Effective Test Procedure
Parallax Target System is designed to be the most cost effective Point of Care diagnostic system available because of its broad range of tests and inherent low cost of the shared test platform. Unlike more costly stand alone POC alternatives, the Parallax system delivers high margins without adding cost to the healthcare system and opens up the opportunity to penetrate the global healthcare markets.
Extensive Breadth of Testing
Parallax Target System Platform features a breadth of testing capabilities to include both qualitative and quantitative infectious disease and monitoring tests, offering assays for not only the most frequently ordered infectious disease and medical condition tests but for novel tests as well. Parallax Target System’s unique technology platform will allow expansion of its test library to hundreds of individual tests. Currently Parallax Target System has 24 tests FDA Cleared, including tests for infectious disease, pregnancy, drugs of abuse and cardiac markers. Parallax will focus its resources to bring to market novel, high value tests that serve an unmet clinical need. The first such novel test will be an immune status test that will quantitate CD4 and CD8 cells.
Provides Greater Efficiency
Because Parallax’s Target System family of tests is designed for CLIA waiver, easy of use, and fits into the everyday physician office workflow, the number of patient visits is reduced and office administration is simplified.