7 HealthCare IT Startups Compete for Funding: Who Wins?

At a Dell event, healthcare IT startups pitched to score major funding. Can you pick the winner?
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This week I attended Dell’s Innovation Day, targeting the Healthcare Market, and it was a fascinating event. Innovation Day is funded by Dell and Intel, along with other partners, which brings in startups and has them compete in a Shark Tank kind of event.  

This showcases their solutions to an audience of people that might want to fund them, gives them visibility to media, and helps drive innovative solutions into a target market, in this case, Healthcare.  This was the final competition and the result of three similar events in three different cities in the US where 7 finalists (two from each city and one wild card) could compete for funding for a pilot. 

The solutions ran the gamut. Here are some of the highlights.  

1) Caring In Place

The Caring in Place solution is targeted at home care givers.   This group of people, often made up of relatives of the patent, is often untrained and in dire need of help with regard to how best to deal with their ailing, and often dying, loved one.  

The solution aggregates the information they need to do their job better into an easy to use experience. This helps them avoid expensive mistakes, get questions answered timely, and offers a better approach to major decision points.  Benefits surround quality of life for both the care given and the patent benefitting from this service and the result should be lower costs to the health insurance provider, as well helping avoid unneeded or wrong procedures and complications that might otherwise result from untrained care.  

2) Sii Ventures

Sii Ventures (think of IBM Watson light) is a big data analytics solution that analyzes the information on the patent and the problem, providing the health care professional with a tightly focused, in-depth view of the patent.

Doctors move from patent to patent and, sometimes, can confuse them or simply not have the time to fully research a problem. This solution helps assure the health care professional has, at their fingertips, information on related procedures, available trials that might apply to the patent, and unique information surrounding the patent and problem. It might suggest alterative solutions that could be more viable and affordable to the patent based on their unique needs.   

3) Vivify Health

Think of Vivify Health as a mobile app for remote caregivers that assists out-patient programs. This app collects and monitors the things the out-patient must do in order to improve and helps drive the needed behavior, reducing substantially the need to readmit them because their problem has worsened. Using a mobile device with an optimized interface, the solution uniquely targets a need to remain connected with the patent while the patent is remote. The medical staff can monitor progress, be made immediately aware of complications or problems, and more effectively respond so that the patent is far less likely to have to return to the hospital.  

4) Blue Marble Game

The Blue Marble Game Company was one of the more interesting presentations. These folks used games to better assure health care professionals remained current with regard to a variety of subjects and that patents remained engaged with the process. 

In addition they had games targeted at improving performance both for health professionals and patents by focusing on improving cognitive skills. If you can make learning or adhering to a health regimen fun you can likely improve both the quality of care and the quality of the patent experience. You should also improve the success of the healing effort. Creating a solution engineered against a human specification seems like a far more successful path than more traditional tech-centric solutions, so this pitch was also one of my favorites.

5) RxWiki

RxWiki is, as you would expect, is targeted at pharmacists.  It is heavily social media-based and better integrates this important function with both the patent and the rest of the health care industry.  

This should both help assure the right medication is prescribed and help prevent both doctor and patient mistakes.  It should improve health literacy for both pharmacists and patents over time, which should better assure the process of providing appropriate medication. This service is so popular they are simply unable to keep up with the number of pharmacies trying to sign up. They estimated that if they could scale to demand (they make money off of the prescriptions) they could generate $100M in top line revenue.  

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Tags: IT, Dell, startup, healthcare IT

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