Vator Splash Health, Wellness & Wearables 2017

Vator Splash Health, Wellness & Wearables 2017

All contestants:
Iris Plans
Location: 1300 Guadalupe St., Suite 201, Austin, Texas, United States United States
Founded in: 2015
Stage: Revenue generating
Number of employees: 6-15
Funding history:
- Date: 11/2016, Seed: $1 M (post valuation: undisclosed amount).
Investors: Wes Selke, Michael Collins
Investment Firms: Better Ventures, Green D Ventures
Short URL: vator.co/irisplans
Splashx_health1_320x240

Iris Plans

Healthcare Planning for Serious Medical Conditions
Startup/business
Austin, Texas, United States United States
http://www.irisplans.com
3
  • About
  • >
  • Activities
  • >
  • News
Company description

Iris Plans reduces the cost of complex care by 25% with our Advance Care Planning (ACP) solution for health insurers and at-risk providers. We dramatically reduce unnecessary care delivered to patients facing serious illness - a focused population that drives significant spending. Our telehealth platform allows Iris healthcare professionals to meet with patients and their families anytime, anywhere, creating a plan to guide major healthcare decisions. We have decades of palliative care experience and deliver a targeted offering at considerably lower cost than a traditional palliative program.

 

 









Team
  • Steve Wardle
    Steve Wardle | Founder
    I started my career in investment banking and have since run an international organization, led a successful bank turnaround, launched and directed a debt/equity fund and chaired several boards & committees. Also a proud Blue Devil (Duke MBA).
  • stephen bekanich
    stephen bekanich | Founder
    CEO of Ascension Health's Texas ACO with 2,500 physician CMO of Ascension and Cigna's JV in TX Division Chief of Palliative Care (PC) at the Univ of Miami School of Medicine Founded, or consulted for, several PC programs across the country
  • Andrew Chen
    Andrew Chen | Founder
    I'm a product management leader with a software development and analytics background. I thrive in early-stage startups and have been part of very early teams in multiple startups that have gone on to IPO or have successful exits.
  • Mary Beth Kean
    Mary Beth Kean | Team member
    Doctorally prepared Advance Practice RN with 25 years experience in palliative care and extensive expertise in project management and quality improvement methods.
Business model

Iris Plans provides a complete Advance Care Planning (ACP) solution for payers and at-risk providers, reducing the cost of care for members with serious illness in the last few years of life by 25%, while improving quality and experience. Our solution uses the payer's claims data to identify high-risk members, and a telehealth platform (video/phone) that guides Iris healthcare professionals, patients & families through disease-specific ACP discussions, creating personalized plans to guide major healthcare decisions. These documents include Advance Directives to Physicians, Medical Power of Attorney, DNR/POLST and Iris' proprietary disease-specific form. Iris then distributes these documents to the patient, family, hospital, physician offices and residential facility if applicable. Finally, Iris follows the patient for 24 months, updating the plan as necessary. We work on a case rate basis, currently offering a 12x ROI on the price of our services while generating 75% gross margins. 

Competitive advantage

Iris Plans is first to market with a video-based ACP offering, with only one telehealth ACP competitor that is 100% phone-based, in a market sized at $3B. To successfully walk families through these ACP discussions, the most difficult discussions in healthcare, it is critical to leverage technology to power face-to-face interaction. Being first to market, we will achieve two primary benefits: (1) generate outcomes data on cost savings before others, a critical competitive item for payers and other healthcare organizations, and; (2) secure sticky channel partnerships with payers who are the critical source of revenue and data for segmentation and targeting within their member population. 

Investors
Wes Selke
Wes is Managing Director of Better Ventures, a venture firm that backs early-stage technology companies creating innovative solutions to big and important problems.
27805
Better Ventures provides funding and support to technology startups building innovative solutions to big and important problems, from work and education to health and sustainability. Given the magnitude of the these problems and the enormous marke...
27806
 Green D Ventures is a community of Dartmouth alums: investors, executives, entrepreneurs, and innovation enthusiasts, with a connection to Dartmouth College. At our core, we are a Dartmouth alumni venture fund investing in Dar...