• About
  • Article PDF
  • White Papers
  • Listening Tours​
  • Contact
  • Support Us
  • Advertising & Sponsorships
Wednesday, February 1, 2023
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.



This story and others on Times of E are made possible by a sponsorship from the Ewing Marion Kauffman Foundation. The Ewing Marion Kauffman Foundation is a private, nonpartisan foundation that provides access to opportunities that help people achieve financial stability, upward mobility, and economic prosperity – regardless of race, gender, or geography. The Kansas City, Mo.-based foundation uses its grantmaking, research, programs, and initiatives to support the start and growth of new businesses, a more prepared workforce, and stronger communities. For more information, visit www.kauffman.org and connect with www.twitter.com/kauffmanfdn and www.facebook.com/kauffmanfdn.

Tags: PeriOp GreenUniversity of Virginia
Shirly Piperno

Shirly Piperno

Related Posts

Homepage Header

Opportunities for Entrepreneurial Leaders: Miami, Pittsburgh, Virtual

by Elizabeth Macbride
January 27, 2023
0

GET Champions: Tech Leadership in Miami Forward-thinking Miami tech industry leaders are invited to apply for GET Champions Miami. The program will...

A $350 Billion U.S. Chip Manufacturing Boom

A $350 Billion U.S. Chip Manufacturing Boom

by Elizabeth MacBride
January 6, 2023
0

The $350 billion chip manufacturing boom in the U.S. As I journalist, I’ve learned to ask myself: What are the...

Real Estate Entrepreneur Offers an Alternative to the American Dream of Homeownership

Real Estate Entrepreneur Offers an Alternative to the American Dream of Homeownership

by Lori Ioannou
December 8, 2022
0

Mark Wolf of AHV Communities is a pioneer in the build-for-rent real estate sector. Unlike many entrepreneurs who’ve made their...

A New Manufacturing Boom Could Come To Pittsburgh, But It’s Not Steel

A New Manufacturing Boom Could Come To Pittsburgh, But It’s Not Steel

by Elizabeth Macbride
November 4, 2022
0

Mill 19 within Hazelwood Green. Photo: courtesy of RIDC Times of E’s series: Deep Dives into Secondary Cities was sponsored...

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...

Subscribe to Times of E’s Free Weekly Newsletter

Learn about the emerging ecosystem of diverse founders

Popular

  • Modern Mexican Food Brands Give Old El Paso The Boot

    Modern Mexican Food Brands Give Old El Paso The Boot

    0 shares
    Share 0 Tweet 0
  • Venture Spotlight: Realist Ventures In Connecticut Focuses on Biotech, Healthcare

    0 shares
    Share 0 Tweet 0
  • Top 20 U.S. University Entrepreneurship Competitions

    0 shares
    Share 0 Tweet 0
  • Trailblazer: An Audacious Denver Entrepreneur Recruited An Xbox Creator To Develop Her Gaming Vision

    0 shares
    Share 0 Tweet 0
  • Venture Capital Returns Are More Skewed Than People Realize

    0 shares
    Share 0 Tweet 0

Recent

Homepage Header

Opportunities for Entrepreneurial Leaders: Miami, Pittsburgh, Virtual

January 27, 2023
Venture Spotlight: Realist Ventures In Connecticut Focuses on Biotech, Healthcare

Venture Spotlight: Realist Ventures In Connecticut Focuses on Biotech, Healthcare

January 26, 2023
Modern Mexican Food Brands Give Old El Paso The Boot

Modern Mexican Food Brands Give Old El Paso The Boot

January 25, 2023

Recommended

  • Health
  • Climate
  • Deep Tech
  • Finance
  • Education
  • Women Entrepreneurs
  • Mentorship
Weekly Newsletter: Gotham Gal, Liz Phair And CBD

Weekly Newsletter: Gotham Gal, Liz Phair And CBD

2 years ago
The Toyota Camry Of Cybersecurity: Israeli Soldier Built A Hot-Shot Startup On A Foundational Idea

The Toyota Camry Of Cybersecurity: Israeli Soldier Built A Hot-Shot Startup On A Foundational Idea

4 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

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?