Start-ups That Could Lower Healthcare Costs

To add your healthcare start-up to the list, go to WhenHub.com and create a new schedule with one entry for your start-up on the year your product was (or will be) available. Include any links and media you want. Share it to email address healthcarestartups@gmail.com for approval. Once approved, any changes you make later will flow immediately to the Whencast.

Sandstone Diagnostics, Inc.

2016
CA
United States
Livermore

50% of fertility issues are attributed to men. The TRAK system allows men to inexpensively test their sperm at home, potentially avoiding expensive tests on the man's partner.

Virgo - Machine Learning for Surgery

2017
N\A
N/A

Virgo is developing machine learning and autonomous technologies that will improve the outcomes of, and access to, medical procedures. Think Tesla Autopilot, but for surgical and diagnostic procedures!


One example of how our technology will improve outcomes and reduce healthcare costs is in colonoscopy. Studies have indicated that during screening colonoscopies, it is not uncommon for adenomatous polyps to be missed (https://www.ncbi.nlm.nih.gov/pubmed/16454841). Virgo's technology will help physicians identify difficult to spot polyps using machine learning and computer vision. Better polyp detection and removal is likely to reduce the incidence of colorectal cancer, thus preventing expensive therapies such as chemotherapy, radiation therapy, or surgery, down the line.


We currently have our first trial device being used at Kaiser SF. Virgo is based in San Francisco and is currently raising angel investment. Please contact matt@virgosvs.com if interested.

teleMOVEMENT.com

2017
1106 Walnut Street
93405
CA
United States
teleMOVEMENT.com

teleMOVEMENT is a telehealth platform that couples a proprietary algorithm focused on the musculoskeletal system with virtual physical therapy consults.


teleMOVEMENT enhances access, assures evidenced based AI utilizing current evidence to provide the right care at the right time thus reducing healthcare costs.


teleMOVEMENT functions as a stand alone platform or integrated with a suite of other tele health tools.



Direct Primary Care

2017
N\A
N/A

Direct Primary Care is a low-cost monthly subscription service that gives you access to one doctor. Insurance is not part of the process.


From the article:


Direct primary care also comes with near-constant access to a doctor — talking via FaceTime while the family is on vacation, or taking an emergency trip to the office to get stitches after a bad fall on a Saturday night. Because direct primary care doesn't take insurance, there are no copays and no costs beyond the monthly fee.

Primary Care Wholesale Drug Prices

2017
N\A
N/A

Quantgene

2017
N\A
N/A

Potential to reduce cancer screening costs by 10X or more.

Overlap

2017
N\A
N/A

Overlap lowers healthcare costs in one major way: Operational efficiency. We know that any data presented in an easy-to-view form can reduce the amount of time a clinician spends with a patient trying to deduce how a patient is doing in between clinical visits. This time saved on the clinician end has massive implications on throughput for hospitals (as much as value-based care and reimbursements are being testing, healthcare is still a frequency based system) allowing them to see more patients per hour then ever before. Every hospital and program is different, but even a few minutes saved on a per patient basis is huge.


Overlap's platform allows healthcare orgs to insert good technology to collect data from outside the clinic, where health is happening 99% of the time, and see that data in a way that makes it easier to not only save time but spend each visit counseling patients on how to improve behavior.


The jury is still out as to whether this kind of data or programs improve health outcomes, but that is the big goal.

Healthfinch Practice Automation Platform

2011
WI
United States
Madison

In 2011 our CEO, Jonathan Baran, MS, partnered with a physician, Lyle Berkowitz, MD to launch healthfinch. healthfinch is a company dedicated to making healthcare delivery more efficient by automating, delegating and simplifying as much clinical busywork as possible.


The sad reality is the the majority of our healthcare professionals, but especially providers, are spending 6-8 hours per day on below-license tasks. Most of these tasks reside in the clinical inbox. Providers and staff are inundated with lab results, prescription refill requests, pre-visit planning activities and so much more. Our Practice Automation Platform, Charlie, "swoops" in to take care of all the busywork associated with these tasks.


Using Charlie, health systems can redesign manual and high-touch workflows to be automated, simplified workflows. The results are staggering. Essentia Health, using healthfinch's refill tool, was able to improve financial and resource efficiencies by a minimum of 4X. In order to cover refill busywork for all their providers, Essentia would have needed to double the nursing staff dedicated to researching and executing on requests. Instead, they implemented healthfinch's solution and were able to 1) reduce dedicated nurse time for refills and 2) increase clinical coverage to all primary care physicians.


Other clients have achieved similar, impactful results. Check out Modern Healthcare's 5 part series on healthcare transformation, specifically citing healthfinch clients and our product.


healthfinch's automation platform fully integrates with several EMRs, meaning staff don't need to learn new applications. Health systems in 22 states use healthfinch's refill tool. To date, more than 3,500 providers benefit from our product's efficiencies, which has processed more than 5M clinical tasks for more than 3M patients.

Wellbe

2009
8040 Excelsior Drive
53717
WI
United States
8040 Excelsior Dr

Roundtable Analytics Launches Emergency Department Strategy Lab

2016-12-01T00:00:00Z
N\A
N/A

Roundtable’s Emergency Department Strategy Lab launched at multiple sites, allowing pro-active, analytics-based decision making in one of healthcare’s most important and challenging areas.


Roundtable Analytics, Inc. provides consulting and comprehensive data analytics for emergency departments, including easy-to-use, site-specific simulation models. Securely leveraging each ED's unique data resources, Roundtable Analytics delivers its data services via SaaS to ED managers who can quickly assess the state of their ED and simulate the impact of key management changes using Roundtable's Emergency Department Strategy Lab, or EDSL. This approach eliminates the risks of suboptimal patient care and financial losses that can occur during costly trial-and-error periods.

IDx-DR Europe released

2013-03-01T08:00:00Z
485 Iowa 1
52246
IA
United States
​IDx, LLC

For more information see www.eyediagnosis.net


Event:

In March of 2013, IDx was awarded a CE mark for their AI medical device, IDx-DR. The CE mark means that this revolutionary technology, which leverages the power of deep learning, can be sold in the 31 countries that comprise the European Economic Area (EEA). IDx-DR automatically assesses people with diabetes for diabetic retinopathy, a debilitating eye condition which is the leading cause of blindness among adults in developed countries.


The Issue:

There is far too much blindness and loss of precious sight. In fact, most vision loss from diabetic retinopathy is preventable! 


IDx is a company formed with a singular goal: to end blindness.


Diabetic retinopathy is treatable 95+% of the time - if detected early. But, less than half of the people who need to be tested receive the service. Thus, even in our modern society, diabetic retinopathy is a major risk of sight loss and a leading cause of blindness.


How big is the problem?

Blindness is a monumental problem for every single individual who loses their sight. Every single case of blindness is a tragedy, and people with diabetes fear blindness most of all potential complications of their disease.


If everyone with diabetes wanted to receive the care they needed to protect their vision, both in the U.S. and globally, healthcare resources could not support it. People simply haven't been getting this care, even in the United States circa 2017. 


And the shortage is growing. The number of people with diabetes is expected to rise to 1 in 10 by the year 2040, and the vast majority - 85% of people with diabetes - will develop diabetic retinopathy if not managed correctly. In the US alone, approximately 25,000 people go blind from diabetic retinopathy every year.


See diabetes facts and figures here: http://www.idf.org/about-diabetes/facts-figures


How does IDx want to lower the cost of healthcare?

Productivity gains in healthcare have lagged compared to all other sectors of the economy. To date, automation such as the introduction of electronic health records and computer assisted diagnosis has not changed this, unlike the retail and finance sectors. IDx sees healthcare being transformed by automation done the right way. 

 

Automated detection of the eye condition diabetic retinopathy - which is a sign of impending vision loss - is the first leap that we need to take. IDx’s mantra is to do this faster, better, cheaper, and in every community. 

 

The type of quality, precision screening we strive to provide with our advanced computer algorithms is currently available only at a retinal specialist’s office. IDx-DR technology is designed to enable automated detection of diabetic retinopathy in family physician practices and other front line providers who manage diabetes care. This would allow eye care specialists to focus on the patients that are most likely to need treatment. The associated provider cost savings may allow every local community in the U.S. to serve every person with diabetes, and take the most important step in preventing blindness for thousands - if not millions - of people.


Very simply, IDx wants to end blindness by making this type of test widely available. Every person should be able to receive the care they need, every year, in their community. Individuals should not need to incur expense and time loss to travel to a special vision center if unnecessary. IDx wants every person to keep seeing the incredible world we live in.

 

Michael Abramoff, MD PhD, and founder of IDx said the following in a March 2017 IBM press release:

 

"Over the past decades, productivity in healthcare has not kept pace with other sectors. Patients and providers worldwide are paying the price. Our mission at IDx has always been to transform the quality, accessibility, and affordability of global healthcare through the automation of medical screening to support physicians’ diagnoses. We are incredibly pleased to partner with IBM Watson Health, which shares this vision, and believe they will help us scale the IDx mission to its fullest potential,”


March 2017 press release mentioned above: http://www-03.ibm.com/press/us/en/pressrelease/51833.wss


Big News:

IDx wants to bring our technology to the U.S. and to your local community soon! Clinical trails of our diabetic retinopathy screening system are scheduled for completion during 2017. 

A clinical trial is an essential step in receiving FDA clearance to distribute medical devices in the US. IDx cannot market or sell any devices in the US market before completion of a trial and subsequent FDA clearance.


*IDx products have not been approved by the FDA and are not currently for sale in the United States. IDx-DR has received clearance as a Class IIa Medical Device for sale in the European Union.*


For more information see www.eyediagnosis.net