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Edison Nation Medical Announces Innovation Search To Improve Hazardous Waste Disposal in Hospitals & Healthcare Facilities
Date:8/14/2014

CHARLOTTE, N.C., Aug. 14, 2014 /PRNewswire/ -- Edison Nation Medical, a health care innovation marketplace, today announced a worldwide search for ideas to improve the disposal of hazardous waste material in hospitals and healthcare facilities. The search seeks to address one of the most inefficient and costly areas of opportunity within healthcare. Innovation ideas including, but not limited to, new devices, equipment, containers, and educational signage are all welcome.

Edison Nation Medical's search is open to the public and innovators from around the world are encouraged to submit ideas through the organization's confidential portal (www.EdisonNationMedical.com/waste) now through October 24, 2014. After reviewing and selecting the most promising ideas, Edison Nation Medical will work toward licensing those products and share licensing royalties with inventors whose ideas are successfully commercialized.

Hazardous waste is defined as waste that poses substantial or potential threats to public health or the environment. Hospitals are one of the largest generators of hazardous waste in the U.S. and the second largest expense on a hospital's balance sheet (following labor) is supply chain costs. The majority of the materials procured by a hospital ultimately become waste, resulting in nearly 7,000 tons of waste every day and $10 billion annually in disposal costs across the health care industry.

One of the biggest opportunities for cost savings is proper allocation of "Red Bag" versus "Municipal Solid Waste (MSW)". Regulated medical waste that requires proper red bag medical waste disposal includes liquid or semi-liquid blood or other potentially infectious materials (defined below); contaminated items that would release blood or other potentially infectious materials in a liquid or semi-liquid state if compresse
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