PCK 7.14% 3.0¢ painchek ltd

PainChek General Discussion, page-16040

  1. 4,406 Posts.
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    There are a few different reasons why assessments aren't many multiples of the number of bed licences.

    Firstly I'd be wary of that 125k assessments figure. The Twitter account has made errors before and I'd only believe an official statement from the company. Let's wait and see what the upcoming quarterly reveals. I think we're going to see a pleasant jump on that figure.

    There is a lag between licence sign ups and implementing of PainChek into the facility. Also training staff in the use of PainChek is an additional hurdle. Staff will take time to come around to the new way of doing things.

    Additionally a full assessment includes 43 data points, about 15-20 are captured from the 3 second video with the remainder from direct observation. If the full assessment is not completed it is not counted. As Krjae pointed out many staff have a habit of just completing the video section.

    Probably the most important aspect however is that PainChek is rolled out to an entire facility, of which only 40-50% may be non verbal. So while the facility has all their beds licenced to use PainChek, realistically they are only going to use it for a portion of their residents.

    And finally I don't think any of us really know what a normal usage of PainChek should be. Do you presume every bed should be checked three times a day with a full assessment? Or do you check when a particular non-verbal patient is behaving abnormally and you're trying to work out why?

    Client satisfaction is going to be the major indicator going forward and as the government trial period ends (presuming it isn't funded permanently) watching the churn rate will be really important.

    I'm really keen to see those assessments skyrocket, particularly because the bigger the data bank the bigger the moat between any competition. But until we can gauge what they should be, I'm going to focus on new licence sign ups.
 
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