July 29, 2021
ROBBINSVILLE, NJ (MERCER)–On July 15, 2021, Smart MS3, a healthtech company building an evidence-based physical therapy solution, was accepted into Newchip’s renowned global accelerator program. With only a 7% acceptance rate, it provides over $750,000 in benefits and resources over the course of 24 weeks. This gives us ample time to learn about the expertise and knowledge that is needed to develop a startup while also furthering the development of the wearable device.
Today, 7 out of 10 patients never finish their physical therapy recovery process. Unfortunately the effect of this is twofold, not only does the patient remain injured, but the average clinic loses over $240,000 yearly due to their low retention rate. This is a loss for both patients and clinics. Our team is here to flip the script and provide a positive outlook by building a wearable solution which can objectively track the recovery progress of patients and keep them engaged.
We conducted trials at physical therapy clinics in which we found that our device has aided the clinics and patients in 2 major ways! It has increased the patient’s confidence within the PT by 5x and also kept a 100% retention rate throughout this 3-month trial. Having been provided resources by Newchip, we look to further test and develop our device until our demo day in September. “We are excited for Smart MS3 and believe they will do well at Newchip.”
The trial has helped over 40 patients and we look to continue collaborating with physical therapy clinics around New Jersey. Having worked with patients has made us realize that our device provides reassurance that exercises recommended by the physical therapists are improving their current state. Over the next few months we are looking to expand our start-up to bigger physical therapy networks.
Follow our journey through our website as we revolutionize the physical therapy industry.