Vaica is helping to solve the hundreds of billion dollar, global medication nonadherence problem with digital, medication management and adherence solutions.
Vaica helps get people to take their medications as prescribed — pills, liquids, inhalations, injections, etc — with precise patient support that optimizes medication adherence.
All of Vaica’s founders, including Tomer Gofer, its current CEO, started off in a different company that developed smart cabinets for medication dispensing in hospitals and addressed the medication adherence problem, as well as medication errors in the hospital environment. After a few years they realized that the true and more complex problem is actually at home, when the patient is suddenly left alone and is expected to cope with multiple medications, confusing prescriptions and absolutely no support. From that point they decided to address the bigger problem and find a solution that focuses on making it possible for even the most complex patient to take their medications as prescribed and lead independent lives at home.
Vaica’s distinctive solution includes a software/hardware combination that ensures accessibility to both patient and caregiver, the possibility to customize a product to the requirements of any therapeutic area as well as a particular patient’s needs and real-time notifications sent to select caregivers if a dose is missed in order to empower a relevant, proactive intervention. Vaica’s solutions have been tested at 15-world class medical centers, reporting a 92 percent to 98 percent success rate. Vaica’s solutions are commercially available worldwide.
Vaica market opportunity focuses on three main segments: pharmaceutical companies, specialty pharmacies and Payers.
Specialty pharmacies are a rapidly growing segment. Medication adherence and patient education is right at the core of the specialty pharmacy operation. This new care standard drives specialty pharmacies to provide services beyond the ones that are typically provided at the retail level. In 2014, it was estimated that retail, mail, and specialty pharmacies dispensed about $78 billion in specialty pharmaceuticals in the US.
Different payers such as health plans and self-insured employers, are a main focus for medication adherence technologies due to their will to prevent complications that result from medication non-adherence and come with great cost.
Who are your competitors?
We have competitors, such as different adherence apps or dispensing devices that are available in the market. We compete over similar segments, but none offer a complete end to end solution that includes software, physical devices and customization.
Founded in 2014, Modio Health is a cloud-based credentialing and career management solution for healthcare providers and organizations.
Modio Health makes physician career management easier. Replacing outdated and time consuming credentialing processes, expensive middlemen and pushy recruiters with a technology platform that serves both physicians and healthcare organizations. Our goal is to streamline hospital operations, from straightforward, cost-effective credentialing to transparent physician staffing.
The Modio platform is home to thousands of healthcare providers, as well as many larger healthcare organizations and practices. By integrating with government agencies, public databases, and private sources, Modio has built a centralized practitioner database, called the Unified Provider Record, for healthcare providers and their affiliated organizations. Case studies show that the Modio platform decreases both provider credentialing time and the associated costs, reducing administrative burdens and eliminating lapsed licensure.
Origin story/founder story
Modio Health was born from the firsthand experiences of our team of doctors. Our founders had all been stung by the inefficiencies they encountered in their years of practicing medicine. The hassle of credentialing, the constant, nagging contact from recruiters, and high fees for licensing and job placements encouraged them to create a solution to these pain points. After heading a successful EHR implementation business in the early 2010s, they left their full-time jobs to get Modio off the ground. With the help of a Bay Area network of technology and production experts, and their own connections with healthcare providers, our founders launched Modio in July of 2015. Modio immediately gained traction with large ASCs, medical groups, and hospitals. Just nine months after its initial launch, Modio is already an integral part of many healthcare practices.
Our marketing strategy is heavily based on our extensive network of providers. Whether that’s our in-house team of physicians, or providers whom we’ve helped to get credentialed or find jobs, our network is constantly building up through referrals and simple word-of-mouth communication. We also promote the Modio name through targeted media, conferences, and mail campaigns.
Market opportunity (in your particular space—numbers, competitors, etc. are helpful)
Modio offers a scalable solution for healthcare management in a chaotic landscape. Few platforms aim for the level of comprehensivity that we do; Modio is the only service that combines credentialing services, an open job marketplace, and practice management all in one. In an industry that wastes more than $200 billion dollars every year in hospital administration costs, our efficient, inexpensive system is the first step to solving the problem.
Lightning Bolt invests heavily in research and software development to solve complex problems in the area of medical staff scheduling.
Lightning Bolt is the leading provider of automated physician scheduling for hospitals around the world. The company manages more than 3 million physician hours each month, helping to create shift schedules that promote work-life balance, productivity and patient safety.
Lightning Bolt’s cloud-based scheduling platform helps hospitals create dynamic staff schedules with a few clicks, automatically optimizing hundreds of complex scheduling rules. Physicians are able to request time-off and shift changes through the platform, creating transparency and a fair system that balances staff needs. The system also includes HIPAA-compliant messaging and detailed analytics.
Working as a staff scientist at the Los Alamos National Laboratory to schedule massively parallel supercomputers in 1998, Lightning Bolt founder Suvas Vajracharya, Ph.D. was approached by a high school friend, a doctor, for help with a big frustration. The doctor noticed that the seemingly simple task of creating call schedules for his group was deceptively complex, time consuming, and often proved an inaccurate science where equitable distribution of staffing resources, or the honoring of individual physician requests, would often conflict or simply could not be met.
Suvas saw that his own technology experience with scheduling supercomputers could provide the foundation for creating an elegant, easy to use solution to solve the inherent complexities in medical staff scheduling. Both supercomputing and medical staff scheduling share fundamental requirements, including the need to distribute tasks equally and efficiently in the presence of complex and often changing rules with varying priorities. Within a few months, Suvas developed a prototype scheduling system to tackle his friend’s challenging problem and Lightning Bolt was born.
The company’s growth has largely been through word-of-mouth between physician executives and hospital operations leaders who have discovered the software and become loyal customers. Lightning Bolt also attends several industry events each year, including HIMSS, MGMA and RSNA.
The vast majority of physician scheduling is still done manually today at America’s 5,700 hospitals. There are emerging players in the space of automated scheduling but nowhere near as established as Lightning Bolt. The company is part of a growing sector of hospital operations technology, including companies such as Silversheet, Modio Health, HealthLoop and AnalyticsMD.
How does your company differentiate itself from the competition
Lightning Bolt is the only platform that considers significant and complex relationships to auto-generate the best possible schedules for large medical organizations. Also, they are the only scheduling system that provides transparency across a healthcare workforce. Since manual scheduling using spreadsheets or paper is the largest competitor, Lightning Bolt’s biggest differentiators tend to be time and efficiency. In one case study, iNDIGO Health Partners generated a $38M ROI over 5 years by switching from manual to automated scheduling with Lightning Bolt.
With a powerful database of more than 20,000 hospitals, Gauze helps employees, students and staff find the exact medical facility for their healthcare needs just when they need it. Search by an array of criteria, such as international hospital accreditations and certifications, that demonstrate adherence to global quality standards; medical specializations such as oncology, trauma, or endocrinology to direct you to the hospital with services to match your needs; or even whether a facility is publicly or privately funded which may dictate if they offer emergency or trauma services in the first place. Stop looking for a needle in a haystack—search Gauze to find the right healthcare provider for your emergency and basic healthcare needs while away from home.
You’ve got Montezuma’s Revenge in Mexico. Or, having a heart attack in Hamburg. Perhaps you’re simply sick in Seoul. You don’t speak the language. You might be scared. And, you don’t know where to go. We do. We’re Gauze and we’re transforming the way people connect with healthcare around the world. Gauze uses proprietary information and disruptive technology to connect the 1.1 billion international travelers around the world with any healthcare facility outside the United States right when they need it, according to their specific medical needs and geographic location.
Inspiration for origin
I (CEO Sue Garber) became ill while visiting the Middle East and, like many other travelers, waited until I got home to receive care. Turns out, I needed open heart surgery to fix a congenital heart defect I never knew I had. My situation was pretty dire and sickness affects all of us regardless of our current location. I had worked in international healthcare and medical assistance for several years and knew that getting appropriate tools, information and resources into the hands of those who are outside their home countries would facilitate access to quality healthcare no matter where you find yourself.
How your company differentiates itself from the competition
There is currently no company offering such an immediate, accurate and technology-based solution such as Gauze. Medical assistance companies rely on telephonic communication to physically speak with a person prior to referring them to an appropriate medical facility. This can be costly with international roaming rates coming into play, not to mention the time-cost factor of waiting for a phone representative to tend to your needs. Gauze removes the middle man by giving immediate access to valuable healthcare information in virtually any country around the globe. Gauze covers the world, protecting you.
Gauze offers B2B services for multi-national organizations who send out international travelers and expatriates, universities that offer study-abroad programs to students and faculty, and nonprofit organizations that are sending out charity and missionary workers to some of the most remote places on earth. As such, Gauze participates in a wide variety of thought leadership, social media and speaking platforms across a broad spectra of professional and industry associations who are geared toward keeping travelers and expatriates healthy while abroad.
The international medical assistance community is relatively tight knit with many employees from one organization making their rounds through the various players. These options include Medex, HTH Worldwide, Global Rescue, ISOS and OnCall International. There’s a number of smaller operators as well that earn less than $50 million and it’s estimated that the entire industry nets around $3 billion. With only a fraction of the 1.1 billion travelers actively utilizing these services, there is room for expansion–particularly via disruptive technology that facilitates interaction across a more mobile and technologically connected audience.
In 2013, while searching for a telemedicine solution, Brandon Welch thought that his only options were expensive and complicated telemedicine systems or video conferencing solutions that were not HIPAA compliant. He wondered where he would find simple and free telemedicine solutions. He said he felt, “The world needed a simple and secure telemedicine solution that was freely available to all healthcare providers.”
So he created Doxy.me.
Telemedicine will revolutionize the delivery of healthcare by making it more convenient and accessible for patients to access qualified healthcare professionals, and reducing unnecessary expenses. Unfortunately, current telemedicine technologies are expensive and complicated to use, limiting its widespread impact on healthcare.
For telemedicine to change the world, we believe that telemedicine technologies must be simple and free to use. That’s why we developed Doxy.me — the simple, free, and secure telemedicine solution.
Doxy.me is a simple, secure, HIPAA-compliant and free telemedicine available to an clinician in the world. They can use the platform to provide care to their patients, or use it for clinical research or clinical trials.
Origin Story/Founder’s Story
Doxy.me was founded at the University of Utah by then Biomedical Informatics PhD student Brandon Welch while working on a research project within Department of Obstetrics and Gynecology. The goal of the study was to develop and evaluate a novel prenatal care delivery model that replaced several in-person prenatal care visits with telemedicine visits with pregnant moms from home or work. Initially, he wanted to use Skype or FaceTime for the technology, but the institution wouldn’t allow it because these popular and free conferencing solutions were not deemed to be HIPAA-compliant. So he set out to find a good, simple and free telemedicine solution. However, he was surprised upon reviewing HIPAA-compliant telemedicine technologies that the only options available were complicated and expensive; none were deemed practical to be used by patients at home. Being familiar with the technology, he set out to build a simple and free telemedicine solution. He first submitted the idea to a medical invention competition at the university and won the “Consumer’s Choice” award, and he used the winnings from the competition to build the first prototype of Doxy.me (which was used in the prenatal care study). Over the next year, he continued to improve the Doxy.me features based on clinician and patient feedback, but with a guiding principle of simplicity and ease of use.
Since it was officially released to the public, it has grown exceptionally over the past year with little marketing efforts. Networking with organizations and word of mouth has been the largest marketing tool.
Competitors include snap.md, telehealth.org and vsee.com. Market opportunity really focused on the fact there were no telemedicine solutions that were HIPAA-compliant, free and easy to use. This gave us a leg up on our competitors, as most other solutions require downloads, plug-ins, or are expensive.
TapCloud creates a real-time stream of data that enables care teams to quickly grasp whether a patient is getting better or worse, assess the effectiveness of treatments and medications and identify the onset of emerging complications. TapCloud is currently being used in settings from single practitioner to national hospital systems.
TapCloud allows patient’s and provider’s to communicate in ways never before possible to improve the doctor/patient relationship, focus clinicians on patients that need the most attention and insure that the patients that require services receive them in a timely manner to maximize health benefits to the patient (including quality of life, not just physical issues) and minimize the expenditure of health resources.
TapCloud is a solution for gathering key patient information in between clinical visits. There are two parts to the TapCloud solution: a patient facing instructional and information collecting APP and a web-based clinician dashboard. Typical use is for patients to follow/consume their provider-based care plan/educational info and enter their well-being, pain levels, symptoms, side effects, medication compliance and vitals into the APP (unique design allows patients to complete this in less than 1 minute per day). This information is then presented in a comprehensive dashboard that allows clinicians to rapidly interpret key insights into a patients overall well-being. Based on this patient reported information, clinical protocols will dictate if any specific patient needs to be seen, have a home health visit or meds adjusted, etc.
Our CEO, Tom Riley, is a former health insurance executive who spent the past 25 years living at the intersection of healthcare and technology. A few years ago, after his mom was diagnosed with ovarian cancer, his experience with the healthcare system became much more personal as he became a primary caregiver for her. During that time he attended office visits with his mom on a regular basis, and discovered that there is an inherent gap in communications between the way doctors organize/accept information from patients, and the way patients organize and deliver information to their doctors and other clinical staff.
Over and over again, he found himself serving as a translator between his mom and her doctors. He would help his mom by creating easy to understand checklists of things she was supposed to be doing each day, activity, medications, etc. And he would help the doctors by keeping track of his mom’s symptoms and watching for developing complications and then making sure that the information was shared during her appointments. It frequently made a significant impact on the diagnosis of issues, and the assessment of treatment effectiveness. It also helped his mom regain a measure of “quality of life” by making sure that even non-critical complications like chronic constipation were identified and addressed.
After his mom passed away, he decided to devote his time to taking what he had learned first-hand and developing a solution to improve patient-doctor communications in acute-care settings like post-surgical recovery and chemotherapy and since has morphed into a chronic disease management solution as well. TapCloud runs on smart-phones and tablets and includes personalized services for the patient, helping them organize and customize generic discharge/care plan instructions into a personalized daily plan for them to follow. At the same time, the technology uses a sophisticated, but incredibly easy to use, interface to probe for indications of developing complications and/or medication side-effects. It allows clinicians to effectively monitor patient progress remotely and focus their attention on the right patients. It also ensures that doctors are aware of all of the issues affecting a patient, not just the life-threatening ones that have their patients end up in the ED or admitted to the hospital without them even realizing their patients were experiencing any issues.
Healthchat is a communications platform that allows patients, physicians and medical staff to communicate and collaborate in a more efficient manner through the use of short videos sent through their mobile phones. This simple and secure application is available to physicians for a low monthly fee and free for patients and medical staff.
Healthchat is a HIPAA-compliant video-sharing app to connect healthcare providers and their patients – with speed and convenience.
Founder and CEO, Chris Chowquan, is an IT veteran, who has spent much of his career managing technology for healthcare payers. After many years of interfacing with physicians and patients he saw the need for a simpler, more efficient communications solution. Healthchat was founded in 2015.
As a father and full-time employee who has to take time for doctor visits, he figured there must be a better way.
Healthchat’s sales team will be marketing to physicians directly. In addition, Healthchat will launch an integrated marketing campaign aimed at reaching all three groups who can benefit from this product: physicians, medical staff and patients.
Despite mandates to improve the patient experience, accessing healthcare services remains highly inefficient. Healthchat addresses the problem – and stands alone as the only HIPAA-compliant, mobile-friendly communications platform for patients and their providers to connect about their healthcare.
Physicians can now get reimbursed for the coordination effort that is involved in managing a patient following a hospital discharge. ACT.md’s TCM-specific Health ACT Sets facilitate a structured, standardized, and proven process for optimal care coordination to reduce hospital re-admissions and support TCM billing. The ACT Sets are structured in a way for providers to assess complexity, complete care actions required by CMS, and follow specific time sensitive requirements for care delivery and billing. ACT.md takes the complexity out of the TCM Billing process and pays for itself within months.
ACT.md is the platform for team-based care. Care teams need a way to jointly manage medical conditions in concert with behavioral, social, and functional needs. With ACT.md’s high-tech, high-touch platform and project management-like approach, healthcare organizations can engage in collaborative care planning, efficiently manage in-between visit care, and make safe, reliable handoffs across the care continuum. Our customers have seen a 30 percent reduction in the time spent on care coordination activities and improved compliance to care plans through meaningful caregiver and patient engagement.
Through an elegant and intuitive cloud-based technology, the web-based solution connects all members of a dynamic care team, including the patient and their trusted caregivers. We enable our customers to efficiently develop, reliably execute, and securely communicate a patient-centered care plan across their teams. The technology is complimented with a flexible care coordination workforce service offering to ensure nothing falls through the cracks and clinicians are working at the top of their license.
“At ACT.md we are patients, caregivers, physicians, nurses, public health professionals, engineers, and operational leaders. We have personally experienced the significant challenges associated with managing complex care and are working to make life better for patients and everyone supporting them,” said Ted Quinn, CEO and Co-Founder, ACT.md.
The company was founded by Ted Quinn along with Ken Mandl, MD and Zak Kohane, MD, both nationally-renowned healthcare informatics experts. The company was incubated at Boston Children’s Hospital and Harvard Innovation Lab.
“We were inspired to launch ACT.md after observing for decades the constant dropped handoffs across the various providers caring for patients. So we created ACT.md as an operating system for team-based care that drives action toward improved outcomes and reduced costs,” said Dr. Kenneth Mandl, co-founder, ACT.md, professor at Harvard Medical School and director of the Boston Children’s Hospital Computational Health Informatics Program.
Every healthcare entity is dealing with change management around care delivery and care coordination. We’re sharing our vision of team-based care and it is resonating with the market.
We’re proud to work with our world-renowned advisory board – including John Halamka, MD, CIO at Beth Israel Deaconess Medical Center, and Troy Brennan, MD, CMO at CVS Caremark – who help us share our vision with the nation’s leading providers and payers.
According to Frost & Sullivan, the care coordination software market is expected to grow at a 26.1 percent compound annual growth rate between 2015 and 2020.
How your company differentiates itself from the competition
EMR/EHR vendors are the incumbents in the market, but they are not designed to do this job. Up to 70 percent of provider/patient work is conducted in the informal region outside the EMR, especially work related to the coordination of care. We have heard directly from healthcare organizations we are working with that with the leading EMR there is no way to track the status of handoffs, connect with outside providers and family caregivers, and that they really need a Care Coordination Record. This is the job that ACT.md is being hired to do, and we are getting traction with large health systems across the country.
ACT.md shines in complex care settings. The company is focused on powering team-based care for high-risk, high-cost patients.
HealthLoop connects doctors and patients with timely and actionable information, improving patient satisfaction and driving better outcomes. HealthLoop is a cloud-based platform that automates follow-up care; keeping doctors, patients and care-givers connected between visits with clinical information that is insightful, actionable and engaging. Its peer-reviewed follow-up plans automate the routine aspects of care while tracking patient progress and monitoring clinical areas of concern. Its analytics engine sifts through and filters the deluge of patient-generated data in realtime; focusing the care team’s time and attention on patients who need them the most.
HealthLoop automates physician and patient connectivity to create an empathetic engagement reducing patient readmission rates by half. It is a technology leader in the field of patient engagement.
HealthLoop’s sophisticated, HIPAA-compliant messaging platform automatically delivers timely check-ins to patients during an episode of care. For example: a knee surgery patient receives daily check-ins from their doctor helping them prepare for surgery and follow pre-op instructions. After being discharged from the hospital, the patient gets daily follow-ups reminding them to change their bandages, work on exercises and watch for signs of infection. This personalized patient experience is delivered with no extra work from medical practice staff. Complications are caught and resolved early through the platform and patient outcomes and physician ratings improve as a result.
Practicing physician Dr. Jordan Shlain was looking to solve a communication problem he encountered with his own patients. As much as he wanted to deliver a caring, VIP experience to each patient, he simply didn’t have the time or the tools to do it automatically. In what Dr. Shlain calls “innovation by irritation,” he had been painstakingly tracking patients between visits in an Excel spreadsheet before hiring a developer to turn it into easy technology. HealthLoop was founded in 2009 based on this original concept.
HealthLoop works with medical practices, departments and hospitals across the country. The company is active at conferences including HIMSS and AAOS. Word-of-mouth from physicians who are able to save time while also delivering personalized care is also a significant driver.
The rapidly changing reimbursement landscape has created a boom for HealthLoop’s technology. With mandatory bundled payments for hip and knee surgery (CCJR) on the horizon for 2016, increasingly healthcare providers are looking for solutions to provide personalized, responsive service to patients. The patient engagement market is expected to surpass $13.7 billion by 2019.
How your company differentiates itself from the competition
Compared to the typical passive “patient portal,” HealthLoop offers a much more sophisticated and personalized experience to patients. The company tracks an industry-leading patient engagement rate (more than 70 percent). By delivering timely, empathetic messages, HealthLoop has created a platform that is truly useful to patients, physicians and staff.
Sherpaa connects employees directly with doctors and insurance guides online to reduce healthcare costs. Founded in 2012, Sherpaa has redefined the healthcare experience for companies and employees across the country. Sherpaa powers its medical practice in the cloud with dedicated board-certified physicians and insurance navigators. It saves time and money by solving 70 percent of issues without routing them through the traditional healthcare system – fewer interactions with the healthcare system means greater efficiency for the individual and savings for the employer, Sherpaa currently “takes care” of more than 120 companies including Tumblr, Etsy and GLG.
Sherpaa was co-founded by Dr. Jay Parkinson MD, MPH, trained in pediatrics and preventive medicine at St. Vincent’s and Johns Hopkins. He’s given talks for TED and The Clinton Global Initiative. He’s been referred to as “The Doctor of the Future.”
We are a B2B company selling into the HR and C-suite. Our founders are a doctor and an experienced HR expert leading up a proven sales team. We know firsthand what companies need, how they make decisions, and how to sell into them. As one of the few employer-driven healthcare services actually founded by a physician, our thought leadership in the space enables us to speak at conferences, produce interesting content, and truly have a respected voice in what the future of healthcare looks like.
Our sweet spot is companies with 100 to 1,000 employees. Every single company of this size is struggling with out of control healthcare expenses without the in house resources to do anything about these skyrocketing costs. They’re being sold wellness plans that don’t work to control costs and traditional telemedicine services that can’t control costs when only 3 percent of a company uses them. They need a better solution that people will actually use. Without meaningful usage, costs can’t be contained. Unfortunately we’re lumped into the telemedicine space and people confuse us as being in competition with TelaDoc, American Well, Doctor on Demand, and MDLive. Sure, they sell into the same HR departments, but offer a service that nobody uses, and therefore can’t move the needle on healthcare costs. Presently, there is no other service in America available to companies that operates like Sherpaa, gets 70 percent of a company to use our services, and delivers the kind of results that we do.