The 2017 Philips Wearables Challenge is well underway. Teams have begun to submit their novel solutions to predict early signs of patient deterioration in order to prevent hospital readmissions and escalation in care.
MedTech Boston caught up with last year’s winner, Harsh Vathsangam of Moving Analytics, to discuss how his company has grown over the last year.
Vathsangam’s winning idea was a mobile app that helps hospitals administer cardiac rehab programs at home. According to Vathsangam, patients who complete cardiac rehab cut their risk of hospital readmission by a third. Even so, only 20% of patients enroll due to cost or inconvenience. Moving Analytics provides a convenient and affordable alternative to traditional cardiac rehab that aims to engage more patients, improve outcomes, and cut costs for both patients and hospitals.
Since winning the Philips Wearables and Chronic Care Challenge, Moving Analytics has experienced impressive growth. This time last year their product was deployed in about two or three hospitals—soon their product will be deployed in about a dozen hospitals around the country. They’ve also successfully demonstrated that their software has similar outcomes as facility-based rehab.
Vathsagam used the $10,000 cash grand prize to develop the product further and solidify a marketing strategy. But the benefits in participating in the challenge went beyond the prize money. “When we go to customer pitches, we prominently display that we won the Philips Wearables and Chronic Care Challenge— it’s kind of like a badge of honor for us,” Vathsagam explains. “It helped us have credibility, which for a small company like ours was very important.”
For those considering submitting to this year’s event, Vathsagam has the following advice: “It’s important to be very true to your story. Speak to a general audience about why rather than what you’re doing.”
Do you have an idea to predict early signs of patient deterioration in order to prevent hospital readmission and escalation in care throughout the patient journey? Submit it today to the 2017 Philips Wearables Challenge!
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