The ballots are in! They have all been counted and recounted, and we have a winner for this year's Vator Splash Health is... LIGHTHOUSE.
LIGHTHOUSE, from the American Diabetes Association, is a digital patient care program that brings together patients, their primary physician, extended care providers and our dedicated team of nurses, counselors and dietitians that will re-write the standards of care for people living with diabetes and elevate the impact of great self-management.
The company's program is pre-approved for for a $500/year Medicare incentive and picks up where most diabetes protocols drop off — the moment a patient leaves their doctor’s office with a pile of great physician instruction, but with little guidance on how to translate their care plan into action. LIGHTHOUSE integrates into the existing patient/doctor workflow through the Electronic Medical Record (EMR) system and helps the care team identify opportunities for care. The connected patient program draws on the deep library of ADA expertise to slowly help patients develop core skills in diet, physical activity, adherence and logging.
We also have our Honorable Mention winner, Bloom Technologies.
Bloom is designing the future of prenatal care with technology designed to improve the health of moms and babies.
The company combines wearable devices with data analytics to reassure moms and provide doctors with better information to improve birth outcomes. Bloom's first product, Belli, measures the most important health parameters of mom and baby from conception to birth. This includes pregnancy specific information no other wearable can measure today (contractions, fetal movement, fetal heart rate). Moms receive personalized feedback on her baby and her body to take the guesswork out of pregnancy and provide much needed peace of mind.
We also want to say congratulations to our People's Choice winner, Carrum Health.
Carrum Health is an innovative Bundled Payments marketplace for planned surgeries.
A major reason why healthcare is so expensive is the administrative overhead in the purchasing process. For every healthcare dollar spent, 40 cents is lost to health plans and other middlemen. By taking advantage of key regulatory changes brought on by Affordable Care Act, Carrum has identified a new business model that cuts down the transaction cost from 40 cents to less than 10 cents.
Carrum Health’s Bundled Payment marketplace draws a direct line between the supply (i.e. hospitals) and demand (i.e. employers and their employees) in healthcare. Through the company's platform, self-insured employers and their employees can purchase planned surgeries (e.g., hip replacements) directly from top-quality hospitals. In doing so, Carrum delivers up to 50% savings to employers, dramatic improvements in the care consumption experience for employees and additional surgery volume to hospitals – making it a win-win-win for all stakeholders involved.
And a big thank you to all of our other finalists who presented today:
Lab Sensor Solutions is a sensor network platform that delivers real-time information on healthcare assets and gives customers the tools they need to increase efficiency, prevent medical errors and save lives.
The company increases patient safety while helping customers meet regulatory requirements, reduce costs and save lives. The opportunity for sensor networks and the data that they provide to positively impact systems and processes within healthcare is huge, and this is Lab Sensor's focus.
The company's initial product, T-Tracks™, is a real-time ‘Sensor as a Service’ solution that monitors perishable materials, like lab samples, blood and pharmaceuticals, in transit, and alerts customers before materials are compromised. T-Tracks™ meets a real need right now. Lab Sensor's initial customers are seeing major benefits and the industry is waking up to the realities of increased regulatory enforcement and shifts in reimbursement policies that make this solution a must-have for the industry's operations.
DocDelta is a talent engine for healthcare.
On average every hospital has 15% positions vacant, costing $200,000 per month in lost patient revenue. In addition, hospitals bear an immense cost of physician recruiters and temp wages while the positions remain unfilled. These systems spend billions on recruitment and retention practices that are neither scientific nor efficient.
DocDelta solves this problem by identifying the doctors with the itch to move jobs. We analyze terabytes of data to find top physicians, assess their flight risk probability, and create deep candidate profiles.
Crediyo leverages big data and analytics to lower consumer out of pocket medical expenses.
The company works directly with patients to educate them on their financial responsibility, and work with medical practices to increase their collections and improve cash flow.
Crediyo helps patients pay for their out of pocket medical expenses (e.g. their deductible) by giving them access to completely customized, low interest credit products at the point of service. Additionally, Crediyo pre-funds healthcare providers on behalf of their patients, giving medical practices immediate access to cash flow. Crediyo’s analytics platform allows medical practices to identify and evaluate all patients’ propensity to pay- even those with limited credit histories. Overall, Crediyo creates a retail-like pricing, billing, and credit experience at the point of service, where prices are transparent, patients are rewarded with discounts for positive repayment behavior, and providers collect more.
Aledade raised $260M; Zocdoc partnered with Elation Health; Eli Lilly acquired Dice
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Steven Loeb
Simple HealthKit and Walmart partnered; Electronic Caregiver raised $95M; Aya bought Flexwise Health
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Steven Loeb
Alkeus Pharmaceuticals raised $150M; Care.ai partnered with Samsung; DoseSpot bought pVerify
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Steven Loeb
Startup/Business
Joined Vator on
Lab Sensor Solutions specializes in IoT Sensor data & uses it to solve real problems in the healthcare and food safety markets. We increase safety while helping customers meet regulatory requirements, reduce costs and save lives. The opportunity for sensor network data to positively impact systems and processes within healthcare and food safety is huge.
Our initial product, T-Tracks™, is a real-time solution that monitors perishable materials, like lab samples, blood and pharmaceuticals, and fresh foods, dairy and key farm production parameters, and alerts customers before materials are compromised. T-Tracks™ meets a real need right now. Our initial customers are seeing major benefits and the industry is waking up to the realities of increased regulatory enforcement and demand for safer products and reducing margins that make our solution a must-have for their operations.
Our team has deep experience in the space, where founders previously worked together to solve similar customer problems. Our T-Tracks™ customers are very enthusiastic, we have a distribution partnerships and VAR deals and integrations underway.
Startup/Business
Joined Vator on
We help hospitals make millions of dollars in additional revenue by helping them to hire the best clinicians more cost effectively and win the war for talent. Our solution enables:
Startup/Business
Joined Vator on
Healthcare is unreasonably complex and costly. At Carrum Health, we’re applying a common sense approach to simplify the payment model and produce greater value for employers and their employees. We do so by directly connecting progressive self-insured employers to top-quality regional healthcare providers through the industry’s first comprehensive bundled payment solution. Our innovative platform reimagines how care is paid for and delivered, improving the value of health benefits for employers and their members.
Good for employers. Even better for members. No tradeoffs.
Carrum’s solution is a “win” for all parties, a rarity in healthcare:
- Employers achieve significant cost savings and predictability without risk or hassle.
- Members receive top-quality care and a concierge experience for zero out-of-pocket costs so they can focus on recovery instead of medical bills.
- Providers gain streamlined administration allowing them to do what they do best – deliver expert care.
For more information about Carrum Health, please contact info@carrumhealth.com.
Startup/Business
Joined Vator on
Bloom is designing the future of prenatal care with technology designed to improve the health of moms and babies. We combine wearable devices with data analytics to reassure moms and provide doctors with better information to improve birth outcomes.
Our first product, Belli, measures the most important health parameters of mom and baby from conception to birth. This includes pregnancy specific information no other wearable can measure today (contractions, fetal movement, fetal heart rate). Moms receive personalized feedback on her baby and her body to take the guesswork out of pregnancy and provide much needed peace of mind.
Startup/Business
Joined Vator on
Crediyo helps patients pay for their out of pocket medical expenses (e.g. their deductible) by giving them access to completely customized, low interest credit products at the point of service. Additionally, Crediyo pre-funds healthcare providers on behalf of their patients, giving medical practices immediate access to cash flow. Crediyo’s analytics platform allows medical practices to identify and evaluate all patients’ propensity to pay- even those with limited credit histories. Overall, Crediyo creates a retail-like pricing, billing, and credit experience at the point of service, where prices are transparent, patients are rewarded with discounts for positive repayment behavior, and providers collect more.
Startup/Business
Joined Vator on
LIGHTHOUSE is a digital patient care program that brings together patients, their primary physician, extended care providers and our dedicated team of nurses, counselors and dietitians that will re-write the standards of care for people living with diabetes and elevate the impact of great self-management.
Our program is pre-approved for for a $500/year Medicare incentive and picks up where most diabetes protocols drop off — the moment a patient leaves their doctor’s office with a pile of great physician instruction, but with little guidance on how to translate their care plan into action. LIGHTHOUSE integrates into the existing patient/doctor workflow through the Electronic Medical Record (EMR) system and helps the care team identify opportunities for care. The connected patient program draws on the deep library of partner expertise to slowly help patients develop core skills in diet, physical activity, adherence and logging.
A five minute enrollment process in the doctor’s office kicks off an Mayo Clinic patient management team focused on care coordination, patient self-management and a digital care plan shared by everyone supporting the patient living with diabetes. For a typical family practice of 8 physicians, our program could easily drive an incremental $1MM annually to their bottom line, while transforming the quality of care they deliver to their patients.