Indiana Patent of the Month – July 2023
Predictive Wear is a medical technology company focused on accelerating the world’s transition to predictive and preventative medical monitoring. Their approach? Smart garments. Their logic is that smart watches and other wearable devices typically don’t have enough access to the body to properly monitor health. With garments, there can be more coverage and improved data of the body’s entire mechanical and physiological status.
In line with this mission, the company has recently been granted a patent for their smart Compression Legging System. This garment combines compression with a wearable sensor network and a mobile application to detect and monitor recurrent diseases such as deep vein thrombosis (DVT), congestive heart failure (CHF), and lymphedema, among others.
The wearable sensor network is made of multiple electrodes strategically placed within the compression garment. These electrodes are designed to collect ipsilateral bio-impedance measurements from different locations of each leg. By alternately and ipsilaterally activating the electrodes, the system enables data collection and analysis, providing valuable insights into the condition of the user’s legs.
The system’s central hardware unit, connected to the electrodes, incorporates essential components such as an accelerometer-gyroscope module and a bio-impedance module. These modules work together to collect additional data sets, including acceleration, gyroscopic data, and bio-impedance measurements, which are vital for accurate disease detection and monitoring. The central hardware unit also acts as a power source, temporarily storing the collected data before transmitting it to the mobile application.
Predictive Wear’s mobile app receives the collected data and integrates it with third-party data sets for analysis and comparison. The app also acts as a user interface, displaying health data to the user.
Currently in beta testing, the company markets their leggings as capable of accurate hydration monitoring and real-time analysis of inertial movement, player load and more. By increasing the surface area accessible to biomedical sensors, smart garments are able to utilize redundant physiological monitoring systems to ensure sensor accuracy. From monitoring recurrent DVT and CHF to aiding in post-operative care and lymphedema management, this innovative system has the potential to revolutionize disease detection, prevention, and management.
Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.
Who We Are:
Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.
Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.
Are you eligible?
Why choose us?
Pass an Audit?
What is the R&D Tax Credit?
The Research & Experimentation Tax Credit (or R&D Tax Credit), is a general business tax credit under Internal Revenue Code section 41 for companies that incur research and development (R&D) costs in the United States. The credits are a tax incentive for performing qualified research in the United States, resulting in a credit to a tax return. For the first three years of R&D claims, 6% of the total qualified research expenses (QRE) form the gross credit. In the 4th year of claims and beyond, a base amount is calculated, and an adjusted expense line is multiplied times 14%. Click here to learn more.
Never miss a deadline again
Stay up to date on IRS processes
Discover R&D in your industry
R&D Tax Credit Preparation Services
Swanson Reed is one of the only companies in the United States to exclusively focus on R&D tax credit preparation. Swanson Reed provides state and federal R&D tax credit preparation and audit services to all 50 states.
If you have any questions or need further assistance, please call or email our CEO, Damian Smyth on (800) 986-4725.
Feel free to book a quick teleconference with one of our national R&D tax credit specialists at a time that is convenient for you.
R&D Tax Credit Audit Advisory Services
creditARMOR is a sophisticated R&D tax credit insurance and AI-driven risk management platform. It mitigates audit exposure by covering defense expenses, including CPA, tax attorney, and specialist consultant fees—delivering robust, compliant support for R&D credit claims. Click here for more information about R&D tax credit management and implementation.
Our Fees
Swanson Reed offers R&D tax credit preparation and audit services at our hourly rates of between $195 – $395 per hour. We are also able offer fixed fees and success fees in special circumstances. Learn more at https://www.swansonreed.com/about-us/research-tax-credit-consulting/our-fees/
Choose your state
