WEBVTT - B-Line Medical's Thompson on Video-Based Health Safety (Audio)

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<v Speaker 1>Broadcasting live to New York, Bloomberg eleventh, Rio to Washington,

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<v Speaker 1>d C. Bloomberg to Boston, Bloomberg to San Francisco, Bloomberg

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<v Speaker 1>nine to the country's US Exam Channel one nine, and

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<v Speaker 1>around the globe the Bloomberg Radio Plus and Bloomberg Got Gone.

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<v Speaker 1>This is taking Stock. Coming up on taking stock. How

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<v Speaker 1>do you enhance the delivery of medical service? How do

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<v Speaker 1>you enhance the delivery of healthcare and at the same

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<v Speaker 1>time prevent medical errors and save lives. Well, we've got

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<v Speaker 1>the chief executive of a company called b Line Medical,

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<v Speaker 1>and we're gonna learn all about it. We're also gonna

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<v Speaker 1>be speaking to an a gun. She's the star of

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<v Speaker 1>Breaking Bad, or at least she was. She's also the

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<v Speaker 1>star of an upcoming film, Equity. It's the tough world

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<v Speaker 1>of women on Wall Street. Let's go to the tough

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<v Speaker 1>world of Charlie Pellett. Now he's in the Bloomberg newsroom

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<v Speaker 1>with the Bloomberg Business Flash. Thank you very much. Can't

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<v Speaker 1>wait to see the movie. We've got the SMP trading

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<v Speaker 1>higher now up by a point sixty seven, a gain

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<v Speaker 1>there of about point one percent. Stack up nine to

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<v Speaker 1>fifty nine, a gain of two tenths, up one percent.

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<v Speaker 1>Stocks are fluctuating near records amid a mix of corporate

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<v Speaker 1>results as investors await data tomorrow on the strength of

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<v Speaker 1>the U. S economy. After the bell today, we will

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<v Speaker 1>be hearing from Amazon dot Com and Alphabet that is

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<v Speaker 1>the parent of Google. Alphabet shares up now by one

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<v Speaker 1>tenth of one percent. Facebook shares are gaining today after

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<v Speaker 1>the company reported second quarter revenue that beat analyst projections,

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<v Speaker 1>lifted by surging sales of video and Instagram ads, as

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<v Speaker 1>well as a boost in users. Facebook is up by

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<v Speaker 1>nine tenths, up one percent. David Kirkpactry Kirkpatrick is the

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<v Speaker 1>CEO and Fox co founder or founder. I should say

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<v Speaker 1>of technomogy media, Facebook is the most targetable ad platform

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<v Speaker 1>in history. It's not really you know, talk about mobile

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<v Speaker 1>and video with all cool and they're good with new technologies.

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<v Speaker 1>You know, they're gonna go into VR and RRA. That's cool.

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<v Speaker 1>But the fact is it doesn't really matter as long

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<v Speaker 1>as they kind of get that stuff right. They have

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<v Speaker 1>more data about more people than anybody else, and that's

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<v Speaker 1>what advertisers want. Chipotle Mexican Grill, following through on a

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<v Speaker 1>Planet discussed back in March, and will open its first

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<v Speaker 1>burger restaurant this fall in Lancaster, Ohio. SMP off a

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<v Speaker 1>point gain there of point one percent. Gold up five

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<v Speaker 1>sixty two up by four tenths of one percent, Crude

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<v Speaker 1>oil down one point seven percent. One right now on

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<v Speaker 1>West Texas Intermediate to thirty two. Now, let's look at

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<v Speaker 1>other stories making news. Thank you Charlie from the Bloomberg

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<v Speaker 1>News room. I'm rainy in a cent cio. Democratic presidential

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<v Speaker 1>nominee Hillary Clinton will be addressing her party tonight, taking

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<v Speaker 1>stage in Philadelphia to give her acceptance speech. The first

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<v Speaker 1>few days of the Democratic National Convention were tumultuous, with

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<v Speaker 1>Bernie sam the supporters booing loudly at times. Speaking to

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<v Speaker 1>ABC News this morning, Clinton's running mate, vice presidential nominee

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<v Speaker 1>Tim Kaine, says, the rivaling factions have come together over

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<v Speaker 1>the course of the convention. You see the way the

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<v Speaker 1>arc of this convention has gone to It started off

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<v Speaker 1>with some turmoil and some churn, but there's been a

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<v Speaker 1>direct arc to unification and an awareness that the stakes

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<v Speaker 1>are high and we gotta pull together to win. Republican

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<v Speaker 1>presidential candidate Donald Trump tells Fox News he was not

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<v Speaker 1>being serious when he called for Russia to find Hillary

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<v Speaker 1>Clinton's deleted emails and comments he made yesterday. And I'm

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<v Speaker 1>being sarcastic with some of course, I'm being sarcastic, but

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<v Speaker 1>you have thirty three thousand emails deleted, and the real

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<v Speaker 1>problem is what was said on those emails from the

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<v Speaker 1>Democratic National Committee. Pope Francis tripped and fell during an

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<v Speaker 1>open air mass in Poland today. He braced his fall

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<v Speaker 1>with his hand and several priests neared by rush to

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<v Speaker 1>help him back to his feet. Upon of his making

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<v Speaker 1>his first visit ever to Eastern Europe with a five

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<v Speaker 1>day trip to Poland for World Youth Day, a global

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<v Speaker 1>gathering of young Catholics, and the Port of Albany will

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<v Speaker 1>receive seventeen million dollars in federal funds for upgrades and

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<v Speaker 1>an expansion intended to allow the shipment of more heavy cargo.

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<v Speaker 1>Senator Chuck Schumer, who pushed for the additional funding, says

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<v Speaker 1>the work will help local manufacturers ship their products around

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<v Speaker 1>the world. The money will pay for a new warehouse

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<v Speaker 1>and upgraded maritime terminal and a new roadway. Global News

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<v Speaker 1>twenty four hours a Day, powered by more than twenty

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<v Speaker 1>undred journalists and analysts in more than one twenty countries.

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<v Speaker 1>I'm Rainy and Essentio. This is Bloomberg, Charlie, and we

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<v Speaker 1>thank you. And again recapping a mixed picture for US equities.

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<v Speaker 1>We do have the SMP five hundred index up to

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<v Speaker 1>now a gain of point one percent, downd US reels

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<v Speaker 1>down twenty five, a drop of point one percent, Gold

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<v Speaker 1>up six twenty again the ARA five tenths of one percent.

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<v Speaker 1>I'm Charlie Pellot. That's a Bloomberg business splash. Now on

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<v Speaker 1>Bloomberg Radio, we take stock of small business. Small businesses

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<v Speaker 1>want more streamlining and less red tag. Small businesses accept

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<v Speaker 1>the no. Maybe there's so many people that have ideas

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<v Speaker 1>and it has to be more than that. It has

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<v Speaker 1>to be making it real. Bloomberg taking stock small business

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<v Speaker 1>in focus on Bloomberg Radio. Medical airs the third leading

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<v Speaker 1>cause of death in the United States, according to a

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<v Speaker 1>research study. At Johns Hopkins enter Bline Medical, their mission

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<v Speaker 1>provide healthcare educators and clinicians with innovative video driven solutions

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<v Speaker 1>to stop this. A company providing technology innovative technology to

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<v Speaker 1>over four hundred fifty medical schools, nursing schools, hospitals of

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<v Speaker 1>all kinds. During US now here in our New York studios.

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<v Speaker 1>Hartley Thompson, he's the president of Beeline Medical. He's usually

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<v Speaker 1>in watching d C. Butts out me to people like

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<v Speaker 1>us today, welcome, thank you, Caffeine's a pleasure to be here.

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<v Speaker 1>So what do you do? I'm gonna sit down and

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<v Speaker 1>watch a video what I'm a I'm a nurse, um,

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<v Speaker 1>I'm a young doctor. How much difference does that make?

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<v Speaker 1>So a good way to think about it is to

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<v Speaker 1>look at it as an intelligent instant replace them. So

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<v Speaker 1>if you look at the way that professional sports are

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<v Speaker 1>records of the NFL, they record everything that happens if

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<v Speaker 1>they play it back to improve performance. So we provide

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<v Speaker 1>is a similar type platform for both healthcare students, so

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<v Speaker 1>medical school students, nursing school students, pharmacy students, et cetera,

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<v Speaker 1>and as well as clinicians. So when they actually start

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<v Speaker 1>treating real patients, were also recording everything that's happening at

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<v Speaker 1>the point of care that's delivered in operating room's trauma base.

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<v Speaker 1>Uh I see use, et cetera. And that's used for

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<v Speaker 1>educational purposes. After the fact, so it's used to see

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<v Speaker 1>if the mistake was made or to review and say,

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<v Speaker 1>this is what she did really well, this is what

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<v Speaker 1>you didn't do so well, And again it's all about

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<v Speaker 1>improving outcomes at the end of the day. Tell us

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<v Speaker 1>about robotic surgery because I note that recently you've joined

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<v Speaker 1>to support fundamentals of robotic surgery. You're providing a cloud

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<v Speaker 1>based video capture program. That's correct. So robotic surgery is

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<v Speaker 1>something that's as it around for a little while, but

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<v Speaker 1>it's really starting to take to take off a lot

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<v Speaker 1>more in hospitals where the surgeons are actually using an

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<v Speaker 1>instrument that has a much smaller arms that they can

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<v Speaker 1>that they control, and they also have a pedal control

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<v Speaker 1>so they able to make a much more precise incisions,

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<v Speaker 1>so the recovery time is a lot better and also

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<v Speaker 1>the outcomes are a lot better. So what we're providing

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<v Speaker 1>is a platform that actually records the video and the

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<v Speaker 1>audio of the either the surgery being used in training

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<v Speaker 1>or actually on real live patients, and they go back

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<v Speaker 1>and review and look to see what we could have

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<v Speaker 1>done better using the robotic h surgery device. So you're

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<v Speaker 1>in over four and fifty medical institutions. Uh, the company

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<v Speaker 1>you aren't joined the company in two thousands seven, it's

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<v Speaker 1>about eleven years old. You are you guys who studied

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<v Speaker 1>information managements? Really a dream fit for you? What about

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<v Speaker 1>the business model? What kind of money you can can

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<v Speaker 1>you make on this? You've got all kinds of pressures

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<v Speaker 1>now on providers and cutting costs. Where does that lead be?

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<v Speaker 1>Line medical? So that actually leaves us in a very

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<v Speaker 1>good position as far as business goes. So our business

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<v Speaker 1>model is we sell a perpetual license model currently, so

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<v Speaker 1>the medical schools and nursing schools are hospitals. They pay

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<v Speaker 1>for the product, so it's combined hardware and software platform,

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<v Speaker 1>So they pay a one time fee upfront for the product,

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<v Speaker 1>We do the implementation, and then they pay for annual

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<v Speaker 1>support and maintenance on a recurring basis year over year.

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<v Speaker 1>So it's a really good position for us to be

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<v Speaker 1>in because, as you mentioned, hospitals are now shifting to

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<v Speaker 1>more of a pay for value model that's compared to

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<v Speaker 1>pay for service. So we feel that we're well positioned

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<v Speaker 1>to take advantage of that and provide a tool that

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<v Speaker 1>can actually assist hospitals in figuring out why your outcomes

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<v Speaker 1>are where they are, and how to improve your outcomes

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<v Speaker 1>and also improve ultimately patient safety and patient satisfaction. Do

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<v Speaker 1>you have the black box with you? I do not

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<v Speaker 1>have it with me? And help people what is what

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<v Speaker 1>is in the black box? So in the black box

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<v Speaker 1>is a device that actually cap years the video and audio,

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<v Speaker 1>so we call it an encolder, And we also have

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<v Speaker 1>two cameras, and we also have a device that captures

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<v Speaker 1>the patient monitor display. And that's useful for the replay

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<v Speaker 1>aspect because you're able to tie what's actually happening with

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<v Speaker 1>either the simulated patient or the real patient as far

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<v Speaker 1>as the oxygen level, of the heart rate, blood pressure,

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<v Speaker 1>et cetera, with exactly what's happening at that point of

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<v Speaker 1>time of the action that's being performed during that point

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<v Speaker 1>in time. So that's what comes in in the black box.

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<v Speaker 1>So how far are you going to take this? Heartly?

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<v Speaker 1>How big can this company get? Where do you want

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<v Speaker 1>to go? Do you want to expand in products and services?

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<v Speaker 1>If you want to work about global what kind of

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<v Speaker 1>profitability and impact you for see for Bline Medical. So

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<v Speaker 1>we're wake up every day, we're taking it to the moon.

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<v Speaker 1>So you know, again it's a huge market for us

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<v Speaker 1>to grow in, and we are profitable. We've been profitable

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<v Speaker 1>for the last five years. You know, we're in the

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<v Speaker 1>double digit millions in in revenue and we're looking for

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<v Speaker 1>fift growth actually on pace this year over five years ago,

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<v Speaker 1>over the last five years. So it's a really good

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<v Speaker 1>market to be in. It's exciting. You know. We look

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<v Speaker 1>at simulation is a really good market that we're the

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<v Speaker 1>number one trusted platform and provider in that market. And

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<v Speaker 1>we're looking at the clinical space now as a huge opportunity.

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<v Speaker 1>So we see it as anywhere from seven and fifty

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<v Speaker 1>millions to a billion dollar potential market size. Thanks very

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<v Speaker 1>much for coming in and sharing this information with as.

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<v Speaker 1>Hartley Thompson as the president of b Line Medical. They

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<v Speaker 1>are based in Washington, d C. And they can be

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<v Speaker 1>followed on Twitter at b Line Medical. At some of

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<v Speaker 1>their I just gotta say, he's taken to the moon.

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<v Speaker 1>Maybe we'll get on that on that moon shot with

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<v Speaker 1>him when he's when he's on making that shot, right,

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<v Speaker 1>come on, you call me when you get there, just

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<v Speaker 1>to let you know. Some of their customers include the

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<v Speaker 1>Mail Clinic in Minnesota, the Cleveland Clinic, and of course

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<v Speaker 1>the Children's Hospital of Philadelphia and Massachusetts General Hospital in Boston.

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<v Speaker 1>This is taking Stock. I'm pim Fox My Coast, Kathleen Hayes.

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