• About
  • Article PDF
  • White Papers
  • Listening Tours​
  • Contact
  • Support Us
  • Advertising & Sponsorships
Tuesday, May 17, 2022
No Result
View All Result
  • Login
Times Of Entrepreneurship
Growth and Equity for a Changing World
Times Of Entrepreneurship
No Result
View All Result

A UVa Startup with Machine-Learning Inventory Management Aims to Reduce Medical Waste

by Shirly Piperno
February 22, 2022
in Ecosystem
Reading Time: 3 mins read
0
Share on FacebookShare on Twitter
White man in checked shirt
Co-founder Matthew Meyer

For our Startup Spotlights, Times of Entrepreneurship scouted the most successful startups that spun out of top university competitions and programs. The impact of such awards can be many years in the making, especially in the DeepTech space.

Name: PeriOp Green

Interviewee: Matthew Meyer, MD, Co-founder

Which university challenge did you win and when? Or how are you affiliated to a university?

PeriOp Green’s team is strongly connected to the University of Virginia. Our co-founders are current and former students and one is an assistant professor. The first competition that we won was the UVA Entrepreneurship Cup: Concept Stage; and we were also competitively selected for innovation labs at the Batten Institute of the Darden School of Business at the University of Virginia. We also participated in [email protected] through the University of Virginia and Virginia Tech.

What is your elevator pitch? Has it changed much since you started?

The only acceptable healthcare waste is the least waste possible. We believe in high-value perioperative care with an initial focus on reducing intraoperative waste of sterile surgical supplies–saving hospitals money and preventing tons of garbage. Our SaaS product uses computer vision to identify unnecessarily wasted sterile surgical supplies. Over time, our machine learning algorithm suggests adjustments to the sterile surgical supplies opened during surgeries with a focus on minimizing waste, maximizing cost-reduction and minimizing clinical impact. PeriOp Green proves sustainable healthcare is cost-effective healthcare. 

The heart of our pitch, a focus on intraoperative reduction of unnecessary sterile surgical supply waste, has been consistent since the beginning. We have identified a real problem: far too many items are unnecessarily wasted in the OR. However, the delivery of the pitch itself is constantly refined as we receive feedback from stakeholders. Our goal with every pitch and every revision is to describe PeriOp Green as thoroughly and effectively as possible.

What should we know about you?

PeriOp Green is at the forefront of the sustainable healthcare movement. We are adapting innovative inventory technologies to sterile supplies in the perioperative space. Our mission is operationalizing sustainable healthcare, and the by-product is going to be financial-savings for hospitals (purchasing-less, trashing-less, storing-less, handling-less). 

What are you looking for?

We are looking to become stronger in two facets: 1) perioperative supply and instrument industry, and 2) robotics and computer vision. Anyone with experience in either of those fields, who is interested in making healthcare more efficient and more sustainable, we want them to be part of our team. 

Why should someone invest in you?

PeriOp Green is addressing the multi-billion dollar problem of perioperative waste. We are creating a solution that has been needed for decades, but is just now technically feasible. Health systems and surgeons love efficiency and have been working for years to improve the marginal costs of the OR. Now, with a new national and international focus on sustainable healthcare, we are offering the opportunity for health systems to generate less perioperative waste and create a sustainable health reputation while saving money and having long-term, reliable data on actual supply usage. 

How much total funding have you raised and from which sources?

We have received some non-dilutive funding and in-kind support from the innovation lab VP(x)2  but we are otherwise entirely bootstrapped.

How many employees do you have?

We are four co-founders with a small team of ML/CV developers who are passionate about making technology work to improve healthcare and the world. PeriOp Green is unique because of our team and our culture. 

What has surprised you the most after starting this?

One of the most surprising aspects to this venture has been the amount of people, whether they work in clinical medicine, healthcare administration or even computer science, that share our passion to reduce perioperative waste. We place this ethos at the forefront of recruitment for team members and partner organizations.  As evidence, the academic research team affiliated with PeriOp Green surveyed over 200 surgeons, and 95% of them said they would be willing to change their OR workflow if it meant reducing waste. Their manuscript will be published in Surgery.

For more inspiring stories, insights and actionable funding opportunities, subscribe to Times of E’s weekly newsletter, www.timesofe.com/introduction.
Tags: PeriOp GreenUniversity of Virginia
Shirly Piperno

Shirly Piperno

Related Posts

photo of a mural of eyes

The New Capitals of American Business

by Elizabeth Macbride
March 30, 2022
0

A mural in the Wynwood district, a rising tech and arts neighborhood, in Miami It was a hot day in...

Man in black standing in a technology classroom

In a System Without Much STEM Support for the Most Vulnerable, it’s Up to a Teacher Willing to go a Step Beyond

by Skyler Rossi
March 2, 2022
0

Mark Godinez This is one of a series of stories about Times of E’s reporting trip to Miami, Fla. Read...

Report: The Downsides of ‘Nebraska Nice’

Report: The Downsides of ‘Nebraska Nice’

by Skyler Rossi
January 10, 2022
0

Many midwestern entrepreneurs have noted the open and supportive ecosystem culture in their states. Nebraska is not different – its...

woman standing next to a brick wall

Eco-Depression is on the Rise. Here’s How University Students are Coping

by Skyler Rossi
January 7, 2022
0

Megan Martis Megan Martis wore tights for years as a uniformed, private school student, and they were always saggy, itchy,...

As the Pandemic Bears Down, An Innovator Steps Up To Solve the Digital Divide

As the Pandemic Bears Down, An Innovator Steps Up To Solve the Digital Divide

by Skyler Rossi
January 4, 2022
0

Evan Marwell, founder of EducationSuperhighway As offices and schools went remote during the pandemic, the digital divide in the U.S....

woman in silver jacket smiling

University Pitch Competitions Plan Cautiously for In-Person Events as Global Reach Expands

by Skyler Rossi
December 21, 2021
0

Amy Sallin, director at the University of Washington’s Buerk Center For Entrepreneurship Back when COVID-19 first began to spread in...

Subscribe to Times of E’s Free Weekly Newsletter

Learn about the emerging ecosystem of diverse founders

Popular

  • Distribution of Realized U.S. Venture Outcome Over the Past Decade

    Venture Capital Returns Are More Skewed Than People Realize

    0 shares
    Share 0 Tweet 0
  • Take Your IRR With A Grain Of Salt. It’s A Vanity Metric

    0 shares
    Share 0 Tweet 0
  • Canvas CEO Steps Down after $50M Round Incites Racial Controversy about Who Gets Funded

    0 shares
    Share 0 Tweet 0
  • A Young Tech Millionaire Moved To Boise. Now, He’s Humbler, And More Connected.

    0 shares
    Share 0 Tweet 0
  • Commentary: Women Now Face Pressure To Look Beautiful Everywhere They Go. Here’s How To Set Them Free.

    0 shares
    Share 0 Tweet 0

Recent

woman leaning against a brick wall in a white jacket

Editor’s Note: Times of E Is On A Summer Schedule

May 12, 2022
Weekly Newsletter: Abortion Scare Politics, Manufacturing Ethos And Most Fundable Companies

Weekly Newsletter: $200M Headed to Entrepreneurs, VCs’ Vanity, & Summer Vacation Plans

May 12, 2022
Take Your IRR With A Grain Of Salt. It’s A Vanity Metric

Take Your IRR With A Grain Of Salt. It’s A Vanity Metric

May 11, 2022

Recommended

  • Health
  • Climate
  • Deep Tech
  • Finance
  • Education
  • Women Entrepreneurs
  • Mentorship
THE HUB: $3B Fund For European Women VCs; $220M For New AI Institutes; Queen’s Gambit Offers A Hint Of SPACs’ Future

THE HUB: $3B Fund For European Women VCs; $220M For New AI Institutes; Queen’s Gambit Offers A Hint Of SPACs’ Future

10 months ago
Dr. Shelley Cooper

How Innovations In Telehealth, Communication Could Change The COVID-19 Picture

2 years ago
  • About
  • Partner
  • Bespoke Research
  • Listening Tours​
  • Contact
  • Support Us
  • Privacy Policy

(703-966-7357)

© 2020 Mondial Publishing Inc. All Rights Reserved.

 
Facebook Twitter Linkedin
No Result
View All Result
  • Research
  • Finance
  • Women Entrepreneurs
  • New Builders
  • Ecosystem
  • Events
  • Newsletter
  • Editor’s Note

© 2022 Mondial Publishing Inc. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Free Download

Times of E Speaks with Jim McKelvey

Get exclusive insights on the future of entrepreneurship. 

Download Now

Support Times of E

Times of E covers the emerging ecosystem of diverse founders.

With your support of our journalism, you will receive our weekly newsletter and one of these resources for free: 

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?