Will adoption be difficult? Are their rules or regulations that could prevent mass adoption? Have you signed any clinic/hospital up thus far? Is their a waiting list on hospitals that are willing to try this? I understand this is def. a better mouse trap but what type of obstacles do you and your team expect to encounter? Usually change doesn't come easy. I will be investing very soon, I love the idea and I hope it goes according to plan. Good luck.
To answer that, it's best to give you some history: we were founded in 2016 as part of the inaugural class of the Boomtown Health-Tech Accelerator in Boulder, Colorado. This led to a collaborative exchange with Permanente Medical Group, part of the Kaiser Permanente consortium. In case you're unfamiliar with Kaiser Permanente, they are one of the largest not-for-profit health plans in the U.S. serving 11.3 million members across a chain of 38 hospitals.
Patientory is also part of the Startup Health portfolio. With over 2,000-customer validation interviews with the aid of Kaiser Permanente and Startup Health, this has given us the ability to continue to learn, build and scale our product on a global level. We’re on track to provide superb value to our users.
And now as of May 2017, we have 8 pilots in the pipeline.
All of this is in our Roadmap,
which you can find online. It's also in the Executive Summary PDF I sent you earlier via email.
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As for regulation, the biggest obstacle to most healthcare innovation is HIPAA. However, that has not proven to be any challenge for us because Patientory’s use of blockchain follows HIPAA Security Rules, including but not lmited to:
- Administrative Safeguards – Assignment of a HIPAA security compliance team.
- Physical Safeguards – Protection of electronic systems, equipment and data.
- Technical Safeguards – Authentication & encryption used to control data access.
This ensures covered entities maintain reasonable and appropriate administrative, technical, and physical safeguards for protecting Electronic Protected Health Information (e-PHI), with 0 health breaches.
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You said it best: change doesn't come easy. What we've got going for us is that Patientory is so much more than just a flashy demo and hope. There's already a huge market need for Patientory right now, especially in the US.
- Healthcare providers need to provide care to 117 million Americans diagnosed with one or more chronic illnesses
- Reimbursement from CMS (Centers for Medicare and Medicaid Services, an agency of the U.S. Department of Health and Human Services) for chronic care management services is only ~ $43 per patient per month.
- That reimbursement then gets reduced by penalties if the patient is readmitted within 30 days.
- 2,597 hospitals face $500+ million USD in penalties under the CMS readmissions reduction program in 2016 alone.
- If all that weren't enough, healthcare data breaches totaled over 112M in 2015, costing >$6B in damages.
- Global healthcare cybersecurity spending is expected to reach $10.84 billion by 2022
- 1 in 13 people will experience their personal medical history compromised by a hack by 2021
Bottom line: providers and patients urgently need a secure, scalable and cost effective population health management solution. That's solution is clear: Patientory.
Thanks again for your support. We definitely appreciate it!
At your service,
Michael
