This week’s WV Academy assignment is to, “name specific startups based in that (your) ecosystem and discuss what verticals the ecosystem is best known for.”
Our Ecosystem: Our startup is all about new models of healthcare in a changing world. We are working to bring logistic and data solutions to key areas of the healthcare continuum that have never had the ability to track and inform patient care in a useful, clinically relevant way.
Defining the Healthcare (HC) Ecosystem: Focusing on healthcare startups is pretty easy. Depending on what you read, you’ll find that the HC ecosystem is the most well funded startup domain at this time. So StatTransfers is in a nice space, and as an early entrant we are pretty well positioned. This is because we are not simply focused on “apps” and “data analytics” as most HC startups are…instead we want to bring Amazon levels of logistics to accountable care models that the Accountable Care Act has essentially forced into the market place. These new accountable care organizations must move from sickness models to wellness models and to do this they need more than new tools and data (oh yes, they do need these things) they need new levels of visibility into those providers and members they’ve never had or needed before.
So, assuming this to be the case, let’s take a look at a set of the most recently funded HC startups and their foci and stated area of expertise. This is just the last 30 days or so….what a time to be in HC startups!
Keep reading below!!
Company Amount Invested Investors My Comments Accolade $22.5M Independence Health Group, McKesson Ventures Consumer focused decision support apps.Data platform – patient, Ux cost reduction Pager $14M Sound Ventures, NEA Apps to get house calls medCPU $8M Merck Global Health Innovation Fund, New Richmond Ventures Provider focused, EHR-like clinical decision support.Data platform – clinical , Ux cost reduction Celmatix $5.5M Topspin Partners Patient focused fertility apps Picwell $4M MassMutual Ventures, Osage University Partners, Angels Employer focused insurance exchanges.App for public coverage selection Welkin Health $2M Rock Health, Asset Management Ventures, Great Oaks VC, iSeed VC, iKang Healthcare Group, Mayo Clinic Chronic disease mgt for covered populations.Data/ Apps for high risk cost Ux reduction MDLive $50M Bedford Funding Apps for house calls Mousera $20M Undisclosed Clinical research platform Cureatr $13M Deerfield Investments, Cerner Capital, Windham Ventures, Cardinal Partners, Milestone Venture Partners, JMI Services, Partnership Fund for New York City Chronic disease mgt for covered populations.Data and Messaging Apps for high risk cost Ux reduction Spreemo $13M Pamplona Capital Management Data platform : Clinical quality and outcomes tied to cost.Data to drive improved contracting. Heal $5M Slow Ventures, March Capital, Pritzker Group Venture Capital Apps for house calls Wildflower Health $5M Easton Capital, Hatteras Venture Partners, Cambia Health Solutions, HealthTechCapital Wellness mgt for covered populations.Data aggregation / Messaging Apps for pts engagment Lyra Health $3.1M Castlight Health Behaviroal Health mgt for covered populations.Data platform / Messaging Apps for high risk cost Ux reduction AbilTo $12M HLM Venture Partners, Blue Cross Blue Shield Venture Partners, Sandbox Industries, .406 Ventures High Risk Post-care mgt for covered populations.Data platform / Messaging Apps for high risk cost Ux reduction SwipeSense $9.7M Undisclosed Care Giver hand sanitization medtech SQream $7.4M Blumberg Capital “Big Data” analytics platform to support research QualMetrix $5M Angels “Big Data” analytics platform to clinical quality and outcomes, performance improvement =cost savings at point of care Arrowlytics $3M Surgical Care Affiliates Clinical dashboards and intelligence platforms Catalia Health $1.3M Khosla Ventures Pharmacy Ux compliance through robotic interfaces.*TABLE DATA FOUND AT ROCKHEALTH.COM
So what we see is a huge trend towards the following:
1. Big data solutions to inform quality, outcomes, and performance to reduce cost.
2. Platform solutions to engage membership in active and informed health consumerism to reduce risk/cost
3. House calls driven by consumer apps, increasing access and thereby lowering expensive episodes of care.
Beyond this, we have small med-tech solutions also focused on preventing expensive, easily impacted clinical outcomes such as Rx compliance and community acquired infections. All told, great stuff and it shows a huge focus on startups centered on clinical cost reduction and data informed outcomes getting the lion-share of VC funds.
My question is: Does StatTransfers meet these same needs? The answer is a resounding yes in both verticals.
I’ve decided to do a couple new things this week.
I enjoy trying new things. That’s a pretty trite thing to say, but it is true. As an autodidact, I consistently feel compelled to learn new things. From orbital physics to machine learning, I am always exploring new thinking and the way these new data points fit within the schema of my own brain. But, whatever.
Here’s what I’ve decided to do:
1. Start journaling again. It’s been a long time and I miss it. I recently came across my writing from ages ago (thanks unforgetting mind of the internet!) and while it was somewhat embarrassing and cringe-worthy, I found it revelatory to read about myself form a time in my life where I was a totally different person than I am now. More on that later, I am sure.
2. Participate in a Start-Up Foundations course hosted by our local business accelerator. I joined a start-up about six months ago. Being a part of startup has been iincredibly challenging process mainly because it is so far from my standard role in business where I develop new products and solutions within existing business and organizations. At first I really did think that my skills would translate 1:1. Nope. It is just not the case, the startup world is much more dynamic and it is a whole lot further from “business development” and starting a small business than I would have known, and honestly, further than I might have wanted it to be. So here I am. Bringing learning to my enthusiasm for our project.
So- hopefully this blog can help bring together my thoughts on life, healthcare as an industry (I wont talk about my employer, ever), startups, tinkering and whatever else.