ATA 2016 Emerging Technology Companies

BLM999_NORM VOLSKI_B_WEBMay 19, 2016 By Norm Volsky, Director of Mobile Healthcare IT Practice

As an executive search consultant in the Healthcare IT space, it is my job to be able to identify emerging technology companies that are poised for significant growth. Since I am specifically focused on Mobile Technology and Telehealth, I have plenty of companies from which to choose. I do research daily and during my discussions with industry thought leaders, I make it a point to ask them what companies in the space they find intriguing and unique. I feel it is my job as a member of this industry tATA2016-Logo_Date_CItyo share this knowledge/information with my network so that you could be exposed to these organizations too.

Below are companies I have had my eye on all year that I met with in person at ATA to learn more about their story and vision.

Avizia: Robust end-to-end telehealth platform that connects any doctor to any patient at any time. Avizia as a company has made it their mission to advance healthcare by helping all patients have the ability to get top quality healthcare regardless of their location or situation. Named one of the 10 Most Promising Telemedicine Solutions Providers of 2016 by Healthcare Tech Outlook.

American Well: Unveiled their new Exchange service which allows patients to choose the doctor they want to visit with. This announcement was on the heels of introducing the first Mobile Telehealth Software Development Kit (SDK), which lets organizations plug telehealth capabilities directly into their own consumer-facing mobile apps. With the Exchange, these consumer-facing apps can now tap directly into services from American Well’s partners, which include Cleveland Clinic and Nemours Children’s Health System.

Chiron Health: Provides its physician practice customers Telehealth services with the most robust eligibility checks for reimbursement. Chiron’s eligibility check solution is so advanced that they guarantee their customers reimbursement by paying them the claim themselves. They have increased collections by 3-4% for their customers, who also see 98% patient satisfaction. Chiron is partnered with athenahealth, Greenway Health and CareCloud. See their website here:  www.chironhealth.com

Zipnosis: With an average diagnosis time of 2 minutes, Zipnosis is a force to be reckoned with in the provider market. Allowing their customers to save $175 per patient, per visit. In January, the company raised $17M in investment.

Stratus Video Interpreting: With over 1400 hospital customers, Stratus allows its customer to reach a live video interpreter in 30 seconds or less. They have recently moved into Telehealth and hired Lee Horner (President) and Brad Blakey (VP of Sales and Marketing) to build out that team. Stratus has the unique ability to support hearing impaired and English second language patients. Their two new solutions recently launched are Emergency Room/Urgent Care Consult and Post Hospital Discharge. Stratus won Tampa Bay’s Most Innovative Company Award in 2014.

WeCounsel: Telemedicine specifically geared towards Behavioral Health. Their company mission is to increase access to behavioral healthcare for patients. They provide their customers unique back-end administrative functionality and have secured $3.5M in funding. WeCounsel was recently chosen to be the primary provider of Telehealth software for MedOptions.

AMC Health: Device Agnostic Remote Patient Monitoring solution built on an open source platform. AMC Health has over 50 care managers on their team that can communicate with patients using: Virtual Visits, Phone Calls, Texts or Emails. Their mission is to “help people be healthier…anywhere”. Recently, AMC Health partnered with Glooko to fight Diabetes, and Propeller Health to fight Asthma and COPD.  They helped Geisinger Health Plan reduce readmission risk by 44% and delivered a 3.3 to 1 ROI. Their solution is also endorsed by the American Hospital Association.

PokitDok: API platform that helps enable other software platforms to gather information easier. This solution allows its customers to do transactions easier and have access to powerful data. McKesson recently made a strategic investment in the company with a total series B of $34M. Recently, PokitDok became a member of the CommonWell Health Alliance. They launched Digital Eligibility and Pricing Estimate Services for prescription medications.

TruClinic: Was named 2016 IDC Innovators by supporting a variety of telehealth models such as site-to-site, facility-to-field (e.g., EMTs, visiting nurses) and clinician-to-patient (direct to consumer and fee for service). TruClinic has customers on 4 different continents and in all 50 states. Recently signed Sharp Healthcare as a customer. The company’s mission is to make on-line health as common as on-line banking. The solution allows physicians to create their own patient surveys. In the past 15 months the company has experienced 400% revenue growth.

Propeller Health: FDA-cleared asthma and COPD management vendor that helps patients and physicians better manage chronic respiratory conditions. They make digital products that have therapeutic benefit. Propeller Health won the 2016 Innovation in Remote Healthcare Award at the ATA conference.

Doctor on Demand:  “Putting Patients First” is the company motto. Doctor on Demand offer its enterprise customers a consumer-grade experience and does not charge PEPM fees. They have both United Healthcare and several state BCBS plans as customers. Their goal is to help increase healthcare access in the most convenient way possible. DOD has over 400 employer customers, and 4 of the Fortune 10 companies.

Glooko: Diabetes Remote Monitoring solution to help a patient manage their chronic condition. This mobile solution addresses both type 1 and 2 diabetes. Glooko is significantly helping its patients reduce their A1C using its patient engagement and education tools. They recently announced an EPIC integration.

Vivify Health: Remote Patient Monitoring Platform helping move the industry toward value based care. Helping its patient manage their chronic disease, Vivify is one of the leaders in mobile population health management. They recently not only signed UPMC as a customer, but the health system also participated in their recent $17M Series B investment round.

Quintree:  Telemedicine solution specifically geared towards first point of care centers developed by ENTs.  The platform allows a patient to be seen in real time by an ENT, even when there is not one on site.  The care centers can scope a patient and live stream to a waiting ENT or simply video conference an ENT for a consult.  The SaaS model allows for scalability with little capital expenditure. ENT coverage is sparse and this solution allows ENTs to see more patients, more efficiently and allows for care centers to provide quicker and better patient care.  In addition, this solution is trying to curb over-prescribing antibiotics.

Teladoc: The company goal is to improve access to care in a cost effective way. Teladoc provides an ROI of 5:1 to their customers and have saved their customers $400M in net savings. This turnkey telemedicine platform has 95% satisfaction rate and 74% net promoter score which is unheard of. Aetna and state BCBS are customers. Teladoc was the first telehealth company to receive NCQA certification and was honored by Frost & Sullivan with the Product Line Strategy Leadership Award for Virtual Telemedicine Services. The CEO of the company Jason Gorevic announced at ATA that Teladoc will be launching their first chronic condition management program by the end of the year.

REACH Health: Next Generation Telemedicine software platform that cut its teeth in Telestroke and has more recently established themselves as a full end to end enterprise Telemedicine solution. REACH recently launched their 5.0 software update which enables clinical adaptability across the healthcare continuum. Analytics dashboard and reporting functionality allow their customers to monitor their Telemedicine programs at all levels. Being hardware agnostic, REACH allows their customers to have very little capital expenditures and encourages adaptability.

I remember going to this show two years ago in Baltimore and I am amazed at how much the industry has moved towards being software focused. The software vendors are definitely trending up as they had the largest and shiniest booths. I always come back amazed at how passionate and innovative this industry is as a whole. All of the companies above are helping drive change towards value based care and I feel so lucky to be able work in this industry every day.

The next trade show I am planning on attending is mHealth in Washington DC…if you are interested in having your company highlighted in my next blog, please let me know.

mHealth Summit Recap

BLM999_NORM VOLSKI_B_WEB

November 18, 2015

By Norm Volsky, Director of Mobile Healthcare IT Practice

Last week, I attended the mHealth Summit in Washington D.C. for the third consecutive year. There is always a lot of excitement leading up to the show with emerging companies eager to show off their innovative technology. This year there were mostly young, high growth companies in attendance although large companies like Qualcomm Life and IBM had a strong presence at the show (which is a good sign for the industry as a whole). Of the many companies that were in attendance, the following caught my eye:

  • Edamam- A unique platform to help any person eat healthier. With over 1 Million recipes in their database, it allows someone to customize their meal choices depending on their goals/needs. Not only does it help people with food allergies, it also helps people trying to fight a chronic condition or even someone who is simply trying to eat healthier. Edamam has had significant traction and has grown its user base 15X in the past year.
  • CareSync- Chronic Disease Management/Care Coordination solution with over 100,000 patients using their solution/service. Their goal is to allow collaboration between every stakeholder in the care continuum and help get the right information to the right care team member at the right time. In helping their patients navigate their way through the Health System, they improve the quality of care and patient experience drastically. In 2015, the White House recognized CareSync’s chief operating officer, Amy Gleason RN, as one of nine “Champions of Change” for its national precision medicine initiative.
  • io- HIPAA compliant cloud computing vendor that enables innovative mHealth partners to scale appropriately. Its hosting and managed services encourage interoperability and allows its customers to save significant dollars. A “Last Mile Provider” that enables many companies to thrive affordably.
  • CareClix- Healthcare specific Telemedicine platform with over 3.5 Million members that is geared towards both primary and specialty care. This software connects with devices and shares biometric patient data, enabling patients in remote/rural markets to get high quality care while keeping costs low.
  • rimidi- Diabetes management platform to help patients manage their chronic condition. Allows patients to meet their glucose targets and create a more efficient cycle of care by encouraging communication. Tracks glucose, weight, exercise, etc. and using this data predicts glucose readings.
  • VisualDx- The name of the game is reducing errors in diagnosis. Using their unique clinical decision support tools that leverages medical images, they help their customers get the diagnosis correct. Although the company originated in the dermatology market (followed by ophthalmology and oral medicine), recently the company launched an innovative solution to address general medicine. VisualDx is also making a strong push into the international market.
  • PokitDok– API platform that helps enable mHealth apps to function better. This solution allows its customers to do transactions easier and have access to powerful data.
  • MDLIVE- Announced an expansion of their virtual care collaboration with Walgreens to an additional 20 states. The Telemedicine vendor has also have been making waves in the behavioral health market recently.
  • Doc Halo- Mobile Health Platform that enables HIPAA compliant communication, clinical alarms management, nurse call, scheduling, care coordination and more. Company has been expanding its footprint drastically in some prominent accounts.
  • Science 37- Groundbreaking vendor simplifying the process of participating in clinical trials and giving patients access to the world’s best scientists. Their mobile platform allows a clinical trial to reach rural/underprivileged participants (which has huge advantages for rare disease research). Shifts the care setting from the hospital to the patient’s home which improves patient experience while reducing cost significantly. Increases speed of the trial and results are the highest data quality.
  • Validic- Digital Health Platform that allows accessibility and integration to patient recorded data from mHealth apps, devices and wearables. Getting a lot of traction recently into the pharma and clinical trials market along with international markets. They doubled in size last year.
  • iVEDiX– Mobile Business Intelligence platform that enables the flow of bidirectional data. Secured business with the United Nations and has gotten some significant traction with healthcare providers.
  • Saturn Care- Chronic Disease Management program that enables providers to care for their patients remotely and get reimbursed for it. This program allows the care team to be in control and educate patients properly.

Overall, I came back from the mHealth Summit energized to get back to work in this great industry. Based on the impressive technology I saw last week, I am confident the mobile HIT space is thriving and poised for more growth. I feel so lucky to be able to work in a space where people are so passionate about improving patient care and hospital efficiency.

The next trade show I am planning on attending is HIMSS in Las Vegas…if you are interested in having your company highlighted in my next blog, please let me know.

All the Best

Norm