Nadia Al-Samarrie |
Jul 14, 2014
Rick Admani, Co-Founder and CEO of Prodigy Diabetes
Care, and now UniStrip Technologies, was a newcomer to the highly competitive blood glucose monitoring market in 2006. Prodigy introduced one of the first low cost, blood glucose meter
and strips for the visually impaired.
Global Data estimates that the blood glucose monitoring business will reach 12.2 billion dollars by 2017. The new UniStrip1 is poised to capitalize on this market by offering low cost alternative test strip to use with some LifeScan monitors.
Healthcare professionals have long complained that patients are non-compliant. Consumers complain that they can no longer afford the high cost of frequent blood glucose testing.
Rick’s inspiration was finding a solution to the increasing cost of diabetes supplies, and the consumers’ inability to keep up with inflation. When asked how can he afford to compete at such a low price point, he explained, “Pharma companies are used to making 1,000 to 2,000% percent on their margins. They’re not used to these lower margins.”
Accuracy of low cost alternative test strips has been a significant concern for most patients. The FDA approves all makes that fall within their rigorous guidelines. UniStrip1 meets all FDA standards, and compares very well head to head with the LifeScan test strips.
The FDA currently only requires a +/- 20% variance. Assuming one's blood glucose monitor reads 100 on a clinical machine, this then means that one's blood sugar
can be 80 on the low end or 120 on the high end.
The FDA has not implemented the new international organization for standardization requirements, which has a variance of +/-15%. UniStrip1 is manufactured to the international organization for standardization.
People also need to know their Hematocrit level. The percentage of red blood cells in their blood can affect their blood glucose reading. Hematocrit levels below 30% may cause false high readings while Hematocrit levels above 55% may cause false low readings. It’s important to consult one's healthcare professional to understand their unique body chemistry.
ObamaCare has forced prices for test strips to continue to go down. Medicare will only pay $10.41 for a box of 50 strips. People with LifeScan meters and high co-pays, or who buy their supplies with cash at retail, will benefit the most from Unistrip1. As Prodigy has become one of the largest manufacturers in the Medicare mail order business, Admani has plans for UniStrip to do well in that market too. Rick states, “There is no reason for a retailer or person to continue to pay the high prices of brand name strips.”
The new UniStrip1 interfaces with the LifeScan OneTouch®Ultra, Ultra®2, UltraMini®, and UltraSmart®. Rather than paying $60.00 for a box of 50 Ultra Blue strips, a 50 strip bottle of UniStrip1 may be purchased for $13.00.
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