Most start-ups think they have a product or idea that will revolutionize how business is done. Few ever realize those dreams but the people behind Troy-based Consensus Medical think they have a winner.
Their idea is to create a software system for doctors to store patient information that is easily accessible and legible. No more thick manila folder files. No more trying to decipher doctor scrawl.
"If this company takes off like we think it will it will create hundreds of jobs, hundreds of jobs," says Gary Gentry, product development manager for Consensus Medical.
The people behind the startup (formed a year ago when the founders were approached by Beaumont Hospitals) hope it will allow doctors to switch their patient files to an electronic database securely yet cheaply. Gentry points out that most software that does this costs as much as $100,000. Consensus hopes to sell the same type of software for a fraction of the cost – under $10,000.
"Most doctors can't afford to pay $50,000 or $60,000 for a new medical records software system," Gentry says. "The state is mandating they use some sort of medical records software in four or five years. Our product conquers two problems. It's easy to use and cost is not an issue."
Actually, Consensus' price is causing a slight problem. Because it retails at $8,900 many medical professionals aren't taking it seriously because the closest competitor costs between $35,000 and $100,000.
However, the investors are still encouraged. So far 200 doctors in Metro Detroit are using the software and Consensus hopes to push that number to 2,000 by next year and the sky is the limit after that.
Source: Gary Gentry, product development manager for Consensus Medical
Writer: Jon Zemke
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