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RFID Live Day 2: ODIN medical solution grabs the industry spotlight

The most exciting news coming out of the second day of RFID Live was the announcement by ODIN that it is partnering with the Mayo Clinic to commercialize a solution designed to automate tracking and data entry in pathology labs.

The solution could revolutionize the way that specimens are tracked as they move from one step to another. ODIN estimates that the average industry error rate of 10 percent could drop dramatically.

“The people at the Mayo Clinic are stunned that this is still a paper-based system,” says ODIN CEO Patrick Sweeney. “Each time a product comes into the lab, it gets re-labeled. One specimen might get re-labeled five or six times, and it could be get mis-labeled during the process.”

ODIN CEO Patrick Sweeney

“Pathology labs almost universally receive paper requisition forms with accompanying specimens for accessioning into the laboratory information systems,” says Schuyler Sanderson, a Mayo Clinic pathologist who has been championing RFID for AP specimen management at Mayo. “These paper requisition forms are typically filled in by hand from nursing staff and clinical providers. This practice represents a major source of specimen labeling errors, all of which have the potential for … adverse outcomes for patients.”

Mayo has been researching the solution for four years, and hired ODIN last year to commercialize the solution. Mayo has already begun to roll out the solution at 42 labs in North America. ODIN CEO Patrick Sweeney says that the average size lab could expect to pay about $500,000 for a solution, but could save $1-2 million per year, half from soft savings like labor costs and the other on material savings. ROI is expected in 12 months or less.

There are fun things we do at ODIN, like the social media applications with Vail Resorts,” says Sweeney. “Then there are things that are changing the world and this is an application that is changing the world.”

Sweeney also provided an update on his firm’s revenues, noting that sales increased 30 percent in the first quarter of 2011 over the same period last year. He expects healthcare to represent 50 percent of ODIN’s revenues in 2011.

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