On Friday, the New York Digital Health Accelerator (NYDHA) – a five month program showcased six early and growth-stage digital health startups for healthcare providers and patients in the areas of care coordination, patient engagement, and workflow improvement. Each startup received $100k in up-front funding per company from a syndicate of leading venture capital and strategic investors.
14 New Pilot Programs Anticipated to Result from Program
Since entering the accelerator program, the six participating startups raised over $3M in funding and is currently finalizing or negotiating 14 pilot agreements. Several of these pilot agreements were announced on Friday to an audience of potential investors and senior executives from the healthcare industry included:
–Mount Sinai Health System and OffTheScale, a 12-month, app-driven disease intervention program backed by Jay Cardiello, a partner in OffTheScale who showcases the company’s approach in the new ABC primetime reality show “My Diet is Better than Yours.” As part of this pilot agreement, Mount Sinai will offer OffTheScale to Mount Sinai employees.
– iVediX to develop a data visualization tool that will help clients of Onondaga Case Management’s health home program to participate fully in the creation of care plans by having access to data on their own outcomes across important domains of functioning.
The NYDHA has already shown strong success. The 15 graduate companies have raised over $65 million in additional capital and have created more than 150 new jobs in New York City. Two of the graduate companies were acquired within six months of finishing the program.
Without further ado, here is a look at the six companies participating in this year’s accelerator:
Dorsata provides clinicians with the tools to build and share defined workflows – called care pathways – to improve decision-making, documentation, and order entry. Leveraging clinician-developed care pathways, Dorsata will transform healthcare, reducing costs and improving quality.
iVEDiX is an innovative leader in mobile analytics and workflow solutions focused on creating an extraordinary clinician and patient experience interacting with data. Its miVEDiX product is a highly configurable, intuitive and interactive platform providing unified & easy health information access, workflow optimization and clinical decision support. The result: time savings, increased revenue potential and improved patient experience/quality of care.
OffTheScale (OTS) is a chronic disease, affordable health management platform which has shown to slow, stop and reverse the progression of chronic diseases. OTS starts with a 12 week group intervention program called OTS-4-U that consists of a customized experience, delivered to the group but targeted to the individual. OTS achieves lifestyle change through its OTS-4-U intervention, and then continues life-long maintenance and sustainability with its’ OTS-4-LIFE program.
Parable provides tele-monitoring and analytics for wound care. Current processes in wound care, characterized by inconsistent assessments, a lack of standards, limited expertise, and poor care transitions lead to wasted resources and poor outcomes. Parable Health helps provide more effective measuring, monitoring, and managing of wound patients to improve outcomes and reduce cost.
TelaDietitian is the premier telehealth solution for nutrition counseling. Leveraging the nutrition care manuals of the Academy of Nutrition and Dietetics, the company makes medical nutrition therapy easy to deliver. It offers convenient, cost effective and high quality medical nutrition therapy consultations via a HIPAA compliant video, chat and phone portal. Through a simple sign up, a patient sees an expert Registered Dietitian and also receives a personalized nutrition guide with a custom meal plan, recipes, relevant nutrition information, shopping guide and information on food/drug interactions.
Wellth allows payers and ACOs to maximize the value of every dollar spent on the care of high cost chronic disease patients. By nudging patients towards evidence based care options and by motivating and tracking healthy habits, they can measurably improve population quality metrics like HbA1c in diabetics. They apply the principles of Value Based Insurance Design, which have been developed by Dr. Mark Fendrick of the University of Michigan, and are now being incorporated into numerous health plans and policies nationwide.