Skyline Medical, Inc. (NASDAQ:SKLN) has reported vast savings for its STREAMWAY System, which took part in a case study earlier this month, from the Radiology Department of Tucson Medical Center (TMC). Aside from the cost savings, the company has also received positive safety feedback for the said product.
TMC reported that Skyline Medical’s STREAMWAY System has significantly lowered the waste fluid disposal costs of the department per procedure to $24, representing 77.60% savings from the previous $107.10 spent for each procedure. TMC expects the product to yield a cost savings of as much as $22,140 per year. According to Dan Felix, TMC Imaging Services Director, the use of the STREAMWAY System has allowed TMC to yield a return on investment (ROI) of about nine months.
TMC has been using evacuated bottles to dispose its waste fluids, which are highly costly and harmful to the environment and to the staff. TMC switched to the use of the STREAMWAY System because it is more efficient, safer, and cheaper. Moreover, the flagship product of Skyline Medical is self-contained and easy to operate.
Felix explained that TMC has been using the STREAMWAY System for about 80% of its paracentesis and thoracentesis operations and for 20% of its portables. Portables come handy for procedures that need to be conducted in the rooms of patients.
Approved by the Food and Drug Association (FDA), the STREAMWAY System is the first real direct-to-drain fluid disposal system that is intended for medical procedures such as cystoscopy, endoscopy, radiology, and urology. Collection, and disposal of waste fluids is automated as it is directly connected to the plumbing system of the facility.
TMC’s Feedback to Strengthen Skyline Medical’s Business
Josh Kornberg, Skyline Medical CEO, stated that the feedback provided by TMC, which are consistent with Skyline Medical’s initial expectations for the STREAMWAY System, will help strengthen the company’s marketing strategies. Kornberg is confident that Skyline Medical will be able to build on this success.
94 fluid management systems of Skyline Medical have already been installed in 50 facilities throughout nearly 20 states.
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