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DaiWare, Inc.
Location: Baltimore, Maryland, United States United States
Founded in: 2016
Stage: Pre-launch
Number of employees: 1-5
Funding history:
- Date: 03/2018, Government grant: $3.7 M
Short URL: vator.co/daiware-inc
Followers (1)
Awards and mentions
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American Business Awards, 2018 Startup of the Year
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We have received a grant of $3.7 million from the American Heart Association to conduct 2 clinical trials using our technology.
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Metabolic Compass was also granted an award from Amazon AWS for innovation in cloud computing and machine learning.
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Our app received an award from the Institute for Data Intensive Engineering and Science (IDIES) for applying our data-intensive technologies to problems of national interest in physical and biological sciences and engineering.
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DaiWare, Inc.

Preventative Healthcare
Startup/business
Baltimore, Maryland, United States United States
http://www.daiware.com
1
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Company description

Our clinically validated app pulls daily patient-generated data and integrates it with a patient’s medical history from EHRs.   Machine learning algorithms then process the data to predict health issues before they arise.  A risk score and warning system are visible to the healthcare team through the EPIC EHR.  We have 2-way APIs in EPIC so that we can pull information out of the EHR and put information back into it. Doctors can then use this information for more frequent patient assessment and updating of treatments through telehealth consultations.



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Team
Business model

Currently, there are medical billing codes for remote patient monitoring, though many doctors remain unaware of them.  This is additional money that each doctor can earn by using our technology for non-face-to-face treatment time.   Our model is to make money through a revenue share agreement with doctors.  Doctors only pay us when they earn money from using our product. Current insurance reimbursement would pay $94 per patient, per month to use our product.  We propose a 50/50 split of that amount. A doctor's typical patient load is approximately 2000 patients. Higher risk patients typically make up about 30% of those patients or approximately 600 individuals.  Of those high-risk patients, our potential customer interviews revealed that only about 10% of patients would be engaged in making significant improvements in their health through lifestyle changes and daily monitoring. Thus, we estimate that doctors could use our technology for approximately 60 patients per month, at $94 per patient per month, or $67,680 extra income per year, of which we would take half, which is $33,840 per doctor per year.

Competitive advantage

DaiWare’s offering is unique in many ways: (1) our products have clinical validation, which means that doctors can trust the information provided by our technology; (2) we have 2-way APIs into EPIC, one of the largest EHR providers, which means that we can pull information out of the system and put new information into the system; and (3) as we are able to harness big-data analytics, our technology can serve virtually any type of disease or disorder.