Entrepreneur Spotlight: MedSure Systems
By the Rockwall Times | August 13, 2024 | News
In a world where medication non-adherence is a leading cause of avoidable healthcare costs and adverse health outcomes, MedSure Systems is making waves with an innovative solution designed to tackle this pressing issue. Founded by Justin Monger, MedSure Systems is pioneering a groundbreaking approach to medication management that has the potential to revolutionize patient care and clinical outcomes.
The Inspiration Behind MedSure Systems
Monger’s journey to creating MedSure Systems is deeply personal. The idea was born from his experiences with a sibling who battled addiction issues throughout her adult life, ultimately leading to her early demise. Reflecting on this painful chapter after retiring from a successful career in aerospace, Monger realized that the problem of medication adherence, while challenging, was not insurmountable. “If a device like the one we have designed had been available when my sister went through her issues, she could still be here today,” Monger shared. This realization sparked his mission to “move the needle” on medication adherence and to help prevent both intentional and unintentional over- or under-dosing.
Overcoming Early Challenges
Starting a business is never easy, and MedSure Systems faced its share of challenges. The two biggest hurdles were raising capital and identifying who would be willing to pay for their innovative product. The pandemic made fundraising even more difficult, as in-person meetings were replaced by virtual ones, making it harder to build the trust needed to secure investments. Monger turned to friends and family, ultimately assembling a small group of core investors who believed in his vision.
Another significant challenge was the lack of Medicare reimbursement for medication management services before 2023. To address this, MedSure Systems developed a go-to-market strategy focused on convincing payers and value-based care entities of the product’s value. Simultaneously, they launched a campaign to persuade the Centers for Medicare & Medicaid Services (CMS) to reimburse for these services. After 2.5 years of persistence and finding the right consultant, their efforts paid off. As of January 1, 2023, Medicare now reimburses MedSure’s medication management services.