Jul 27, 2016|
Dr. Shai Gozani (CEO Of NeuroMetrix) by The Financial Exchange
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
Like to remind you think you are welcome to be a guest on our show we'd love to have you in studio. We have to do his own a business we love business owners we talked to them every Wednesday. During the financial exchange in today's no different we're joined by doctor shy goes on I pronounced it incorrectly. In the previous segment and he is the chief president and chief executive of neural metrics a fascinating company. Also a spinoff from MIT is a current. That's correct and try to reply to so let's talk about neural metrics I actually covered this company because. The EU you have a product that I think is fascinating is to basically it's a pain relief product for those that are suffering from. From what I can understand Internet correct me if I'm wrong doctor it's knee pain hip pain back pain. Zen Bahrain. Yes so close a product for Sonoma from auction approach to treating chronic pain. So common causes crime no drugs no drugs that were tossed an electrical. Right on in in Iraq so the nervous system to. Use natural. Two modulation system to regulate. Your pace chronic pain is defined as pain that three months or more most states so different from do you pay after surgery. Common cause of chronic pain and basically those that you outline things like back pain back pain osteoarthritis. Such as the pain diabetic and fibromyalgia and such now is it the type of pain that can't be treated with surgery is and is that why people use your product. It chronic pain in some cases is treated surgically there's a mechanical problem for example you have the disk that's protruding pressing on your partners is next the spine. But in many cases chronic pain is not treatable surgically or sent me people on. Post surgery have chronic pain often and as a result of a searchers appears as. To watch recurrent pain is disease entity unto itself what happens is the debilitating. It is debilitating and what happens is it's not just the original source of pain gnashing your brain changes. In its source amplifying pain signals and even signals. Normal sensory signals that when beach you just paint. Your brain perceives him and he proceeds perceive him as paint so it's really a change in the nervous system. And that has to be on one ounce. So explain his truck and I talked about this when it came out in and we looked at it trucks adult soccer player beat up knees shoulders elbows whit how. But how does mechanically. This quirky you put it looks like you put two. Off a large bandage around your knee right and then but there's something electronic going. So. There's a a device called the third part of their high powered electrical stimulus actually to hundred volts point one Sampson is a very strong electrical stimulator in a sports fan Oaxaca. A ban might be might put it he says it's. The code of the breaks or something on those two on the upper count. Not because a lot of nerves there not because that's with a penis because a lot of nerves there. Hansack what is that I put in my upper cap that with her back absolutely if you had back pain or need pain or foot pain or even upper extremity shoulder and neck pain. What it's doing it's it's stimulating nerves in the upper calf because that's a good point to access the nervous system. That signal goes up into the lower levels in your brain called the Princeton where you have your pain centers are being mentally listeners. It activates a sinners too overproduced your intelligence team actually your own. Paint come out paying controlling chemicals which are called OP it's yeah but not prescription OP right panache dodges natural PO it's. As a result very effective it's very safe and non addictive and we export. Share in success story tell us about it you know an old athlete who tried one of these things and it really changed the lives. Or you send somebody is beat up communities who are generation on the baby boomer lot of us are beat up. Yes we are missing category. So that there's so many success stories and you know one of the one of the more prominent ones. Is mark Lara who says former football player's manager ESPN analyst he's the heart rate was needed he wasn't both he wants to provoke both with the Redskins and with the Broncos welcomed blog for John Elway. He has had 2829. Surgeries. As you can imagine. And has tremendous tremendous chronic pain. But once lived the life has grandchildren now wants note on the floor and play them Asia he's been talking about this and he tweets about the product. Pieces quell does when he used drugs that's the name of the product yes well well QU. ELL. Greg. And an Indy is so he's he's an stories and here's you know very successful football player who's really trying to. Of his life now with chronic pain you know it was a sprain but this is a way for him ticket and control without having to. You take medications which are really need them as very. I'm but you know there is but really more than now we have so many just average people who are trying to what we call you know reclaim the wise from chronic pain they just wanna be able to live that life. They want to be able to work to have good relationships around him to sleep and so forth artsy you're suffering from chronic pain. We've got to. We annoyed by it. We're a word like by a crime so well is. A medical devices weren't greatly by the FDA so glad to get a prescription for now that's what's interesting so. Originally yes dom but in the last few years we are able to get fifty goes over the counter labeling so we consult over the counter that consumers. We sell it online through our website Corel dot com. Amazon is available targets CVS Walgreens so what you do CBS and violence and yes and I'm not not all CVS is in the culture caring yet but but Adam gradually works and so word I'm in retail or on line. In and QVC weren't a lot of different places so how much. Do like mark Schuller the guy that's wearing one does he Wear it 24/7. Days where it only when he's a when he does he Wear and only when he's walking around like. Windy actually put this thing on. When it hurts. When you only your anyway yet it is like is an immediate it's certainly couldn't read it can't be calm and it can be quickly component 1520 minutes on. The way to think about it it's when the electrical stimulation is going on it's going to be. Giving you pain relief when it's off it doesn't. It was a slow so. Drop off after a soft so you Eagles after an hour off for an hour on an hour off for an hour. The nice thing about this technology's use it exactly as you need so if you need. Three hours a pain relief that's fine if you need 24 that's why you can usually sleepy and he's helped fall asleep and you're not an addicted to the drugged up there's no addictive aspects at all. That separates. This is amazing technology. What have you in terms of how you've built this company obviously the you've been in business for quite awhile at this point correct. Yes we vote we just crossed a twenty year anniversary and now originally this wasn't the direction that you were going and how'd you end up pivoting over to this odd device. That's at their assets and has a long story so we started out I'm coming out of MIT NC company focused on and diagnostics of devices to to help physicians. Assess neurological conditions. Things like Carpal Tunnel Syndrome diabetic nerve disease and such really built on a strong business that went public in 2004. Approximately that business or changed the dynamics there change. Says we were looking at our core technology. Are where we could take it we really got interested in taking into therapeutic directions supposed to diagnostics. We are really world experts and her stimulation stimulant in her system electrically it's that we found this opportunity. Adapted our technology we all know but the issues with chronic pain that could concern about prescription pain medications. So it really just call list for us. And then we really looking at where health care is going and we decided the way to approach this is direct to consumer. As opposed to more traditionally collective physicians and hospitals and such with the reimbursement went directly to the consumer the consumer channels such as retail. And how has that gone near consumers receptive. They're very receptive. You know people are looking for alternatives to drugs. They want they don't want to take medications now I understand the risks. This is this isn't only if lethal huge heroin epidemic here track in New England. And much of it is attributable to pain relief drugs is massive it is and you know that the governor has spoken out about this the CDC has spoken about this. So really fits with the consumers nation's health care consumers are taking over health care they're making the decisions we're offering to them in the places when they get their health care pharmacies on one and so forth. In them we have a model which is you gonna try to device for sixty days. It helps you keep it with price change your life if it doesn't return it. And Yemeni human events there's really no we've we've really. It's completely true to its leveraging your nervous system to do it already does which is controlling the radio or to have the capability control paint we just up that activate that. Our our text number is 68680. I know many of you are asking questions and I think we need to try to say well here's one. Is this device covered by any kind of health insurance. No so in what is such a potentially is this is an accountant advised insurance companies typically do not reimbursed over the counter medications or devices. We do have a prescription version which listeners from and which is reimbursement care it's insurance companies here's a good one. 508 asks will it work for. And Barack need. He BCA can you pronouncement Eric knew insist in fourteen to fifteen spine so don't borrow 504. Well. Potentially common low dose that we we typically get 70% of people shall pain relief so this is a great examples with chronic pain. The twos spinal problems. The Berkman tried it. No and it works it's fantastic that doesn't work return it says very hard to be specific yes we've had success in people with those conditions doctored you know it by the way folks reduce or accurate he might stick around. Nolan we're joined by doctor shy goes on he's the president and chief executive of neural metrics from our insurer Matt. Dot com studio. You've got a barrier and strong financial exchange it sure looked like me and she'll exchange radio network. Get your thoughts and questions seem instantly takes the financial exchange at 6868. This is a financial exchange on the financial exchange radio network. We're joined in studio by doctor shy goes on he's the president and chief executive of the company called neural metrics but really what we're talking about. Is a medical device called quell that provides. Pain relief. Without drugs and boy I tell you added that was the part that appealed to me when I first learned about this product. I feel like it was more than six months ago but. That's were talking about today chuck and we are getting text questions in in your questions are welcomed the doctor will answer them. Talk it truckers say you guys wanna direct questions to the doctor and and and let's hear what he has to say. Yeah a couple that we've gotten and one that I have a question about as well as obviously this promotes significant pain relief. In individuals is there any danger of an individual causing. Damage to himself because they're not feeling pain at the same level they were before and maybe an injury is not. Fully healed. That's a great question. And so there is no because it doesn't block acute pain. It blocks chronic pain which is a non productive Mal adaptive pain so there's no risk from from that that's not anesthetic technologies. Okay interesting. Looking at some other people are who have texted in some people said look I've seen products that sounds similar. That are significantly cheaper can you talk about some of the differences between this and some of those. Cheaper products. Yes of their is Saddam there are devices in the broad category is called tans or trance to select owners to simulators and and they are generally used for local pain beliefs that happen now it's our. Just a little bit low back to comment on the allocation. If fairly low power devices that can't be used ways sleepy chili's for twenty minutes there's so are device is high powered high frequency. I'm multi hour use device are average users in the product for over eight hours day no kidding because that's Hamachi. Chronic pain right and we have plenty of people to 24 sevenths so there really. It really addressing different different areas the types of pain once more so acute. Short term. Pain relief muscle soreness in what were dealing way it is. Chronic pain. It's really living with view all the time disrupting lives. One from the 908 area code does this do anything for pain caused by internal information like Crohn's Disease or. Very good question. And generally under on nerve stimulation techniques. Are not as effective what's called visceral pain which is what you're describing. Com we're actually dealing the clinical study right now at Scripps in San Diego on cancer pain which is a classic form visceral plankton and so armed you know we've had some success there but generally and in the spectrum of ups off their efficacy it's probably on the lower end relative to say a more traditional arthritic or back pain her. Nerve related pain. Another one from off or went three can use quell if you have a pacemaker. Great questions so the only FDA mandates Obama warnings against accuse. Any nerve stimulation technique when you are any stimulation when it happened. Anibal. Products such as a pacemaker differently or portable hardware wicca a plate. I'm what you need to do you talk to your doctor and make sure they're comfortable and okay. Other questions that we have here are pretty editing would what does it feel like from 781 and great question it feels like eighty. Of operation or pressure. That is not uncomfortable but it's clearly there. And it tells you it's working but Stephanie doesn't have sensation associate with a which actually. Most people like because it's not it's not pain and it actually reminds them that things are happening. One out of the seven they won doctor my son is a high school athlete has lyme arthritis which is affects his knee joint would quell help them. While playing sports. We've had a lot of success with people suffering from cars Forbes Clark associate with one disease. So it might make my kind of you know classic hazard these sort of a it's a yes many people have succeeded with that. On the best thing to try it. Ideally. Young people concede deaths that don't wanna be using medications and young adults and Jimmie Rodgers so definitely worth trying and them. And seeing how it works out it doesn't work of course is return now actually fall into that category at lime disease and chronic pain in my back so. Not one to take a lot of med so this. Might be right in my Alley actually and I asked you flexible spending account. You can you answer it is it is eligible for an assay and agency programs right. Chuckie got any other questions for the good doctor. No I mean I think it's it's a fascinating product and obviously you know you can tell a lot of our listeners have either friends or family members that. Sounds like they're pretty interest in trying it out so. How do the get more for is the is her website patent and absolutely so. Well relief dot com QQEL. Elderly dot com. Now as a tremendous amount of information about the product and oh destruction and more and you can buy locally. You combine local log into CBS was it target CVS target Walgreens. We have are retail locate her on the website you can order from Amazon QVC. And the best news of his own fault it's made in Massachusetts ran over a trailer I want to mention your headquartered in Waltham. But you manufacture. Royal wedding manufactured in China. Well we think that to maintain quality. We wanna do it locally and not criticize a you know an early lead and it like a lot of manufactures the products are made overseas we believe very strongly in in meeting yunis and in Massachusetts because of quality and vulnerabilities central process. And how many employees you have. We have about 41. Permanent employees mostly gotten all of them and then we have up to twenty. Employees in Woburn buckle up and down depending on the productions is that union or nonunion on nine it for you. And congratulations. The news has been a lot of fun for. It is and through wording and were were delighted bituminous and great feedback from from our customers and coupons and innovating. Well relief dot com yes and that's doctor shy goes sunny he's the CEO of Nora metrics they make that pain relief there's a device. If you want more and we're getting a million text messages asking us how do you get more information on. The website address is quell relief dot com that's a get it.