New York City is one of the largest healthcare markets in the country. With $150 billion in the market, $50 billion of which spent through the medicaid program, New York is in the process of a massive transformation in its delivery system. On Dec. 4, 2014, the New York Digital Health Accelerator (NYDHA) “Demo Day” showcased some of these changes through presentations from seven health tech startup companies. Through the guidance of the New York eHealth Collaborative and the Partnership Fund for New York City, the NYDHA startups have developed cutting edge programs that range from patient engagement tools to care coordination programs, predictive analytic systems and more.
On Demo Day, the startup companies pitched their ideas directly to investors. Empire State Development President, CEO & Commissioner Kenneth Adams said, “New York has the resources, talent, and capabilities necessary to create an environment that produces innovative approaches to New York’s Health IT landscape, and we are excited to see groundbreaking ideas like these develop through the accelerator program.”
Dave Whitlinger, Executive Director of the New York e-Health Collaborative agreed. “We are giving Health IT companies what they need but cannot get anywhere else: access to major customers and product feedback from senior-level executives at New York’s top healthcare institutions,” he said. “By providing these companies with direct mentorship to improve their technologies and business strategies, the Accelerator is quickly expanding New York’s Health IT landscape.”
Take a look at the class of 2014:
AllazoHealth – To counteract the $290 billion dollar problem of medication non-adherence for ACOs, hospital systems, payers, and PBMs, AllazoHealth uses a predictive analytic engine to combat compliance issues. Their system identifies high risk patients likely to miss medications and predicts which interventions will most effectively influence individual patient behavior (text messaging, phone calls, direct contact). The coolest part? Their system improves adherence by 80% and its clients already have over 3 million patients utilizing its system.
Clinigence – Clinigence efficiently integrates patient data from any EHR source, transitioning from the traditional payment model to a value-based model. They do this through real-time measurement of clinical quality, patient outcomes and total cost. Clingence’s first client reduced Medicaid patient costs by 30% and increased care quality, too. Their motto: “Integrate. Measure. Improve.”
Covertix – While there are many systems out there that protect confidential data, Covertix is the only company offering complete control and the protection of confidential files when shared with both internal and external parties. Their system offers seamless implementation that does not affect usability at the administrative or end-user levels. The Visiting Nurse Service of New York, which does over 30,000 home visits per day, utilizes the expertise of Covertix to protect their sensitive data.
iQuartic – The tech at iQuartic analyzes electronic health records (EHRs) to enable evidence based and outcome driven care. What does this mean? With iQuartic, companies are able to better address health risks of certain patient populations and increase best practices. Real-time feedback equates to more effective treatments, lowered costs and increased revenue. One client managed to save upwards of $600,000.
Noom – Noom hasn’t just developed a weight loss app – they’ve created a behavior change app that will revolutionize preventive health care. Users lost an average of 10 pounds which translates to diabetes prevented, heart disease avoided and health improvements all around. Plus, the app includes automated, intelligent guidance, motivation and even meal plans.
Quality Reviews – Quality Reviews fixed the outdated paper patient survey and created a simple electronic one that takes less than one minute to complete and gives real-time patient feedback. This feedback gives institutions actionable data that they can use to increase patient satisfaction. Simply stated: “It gives patients a voice… in real-time.”
Sense Health – Patient engagement is the key to Sense Health. Their main concern is staying connected to Medicaid beneficiaries by using a mobile care management platform. Patients are able to get the support they need through simple text messaging to get and stay healthy. An example message: “The most important thing you can do is to get moving even when you don’t want to get out. Do it for yourself.”
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