This MedCity INVEST Pitch Perfect During the competition, four groups of entrepreneurs seeking to transform healthcare gave some high-profile presentations. They address myriad pain points in care coordination, care delivery, patient experience, and improving data collection and analysis to support clinical decision-making.
The conference was organized in cooperation with MHIN.
Startups compete on four tracks. A team of three judges evaluates startups based on criteria including overall plan integrity, business idea, market opportunity, business model and founder experience. Take a look at the winners below. MedCity News Editor-in-Chief Arundhati Parmar presented the award, along with some insights into how the judges made their decisions.
Care Coordination and Value-Based Care (Sponsored by UnityPoint Health Ventures)
Health systems and payers are increasingly interested in improving outcomes and patient satisfaction while reducing costs. Startups in this category use digital tools to address care delivery and coordination and clinical decision support, with the goal of driving the eventual shift to value-based care.
Shalen De Silva of Vincere Health and Arundhati Parmar of MedCity News
winner: win health — Shalen De Silva, Co-founder and CEO
Judges’ comments:
Justin Norden, partner and track judge at GSR Ventures, said the Vincere Health team is tackling one of the most difficult and important problems: quitting smoking.
“What’s really exciting about them is that they’re not only targeting Medicaid populations traditionally overlooked by digital health solutions, but they’ve also created innovative models of care where Vincere only charges for successful treatments. We need to see more Solutions like Vincere that work with our most vulnerable populations and have a particular focus on health outcomes.”
Diagnostics 2.0
Convenience is the name of the game, especially in the field of diagnostics after the pandemic. Such startups are developing home tests (whether in kits with immediate results or kits that can be used to test at home and easily mailed) or bedside tests with results available soon.
Arundhati Parmar of MedCity News and Bryan Nolan of myBiometry
winner: my biometrics – Brian Nolan, Founder and CEO
Judge’s opinion:
Michelle Snyder, Partner at McKesson Ventures, said: “There is a significant opportunity to improve the lives of people with asthma through more cost-effective proactive care. I am impressed with how my biometrics Ability to engage patients before symptoms appear and utilize nursing coaches to better manage the condition. “
Vijay Patel, Partner, CVS Health Ventures: “I think myBiometry’s comprehensive approach, combining guideline-based guidance, diagnostics and predictive modeling, has the potential to enable patients to better manage their asthma symptoms.”
Medical technology
With digital transformation in full swing, Big Pharma is looking beyond the pill. Such startups are using digital tools to help all aspects of the pharmaceutical industry, be it drug development, clinical trials, manufacturing, digital therapeutics, patient engagement, and more.
From left: Monica Schmiede and Jessica Thurmond of Athelo; Arundhati Parmar of MedCity News; and David Suendermann-Oeft of Modality.ai
Award winner: (tie):
Athelo Health— Monica Schmiede and Jessica Thurmond, co-founders
modal.ai — David Suendermann-Oeft, Founder and CEO
Judge’s opinion:
Jessica Federer, Partner, Millennia Partners, Boston: “Athelo Health’s personalized approach to supporting women with cancer can lead to increased awareness, adherence, and even better outcomes. She puts people first in a way that empowers individuals to fight cancer.” and center, and do it with inspiring dedication.
“As we start to see more neurointerventions coming to market, the solutions provided by Modality.ai are becoming increasingly important. Reliable assessments on demand to support diagnosis and monitoring drive the field.”
Jeff Weness, Head of Digital Opportunity and Business Intelligence, Otsuka Pharmaceuticals (USA): “I am very impressed with Jessica and her commitment to helping all women overcome the many unknowns in cancer care. Athelo’s virtual model should be able to Improve accessibility and reduce costs.”
Remote Patient Monitoring and Smart Devices
The world of medical devices is digitizing to help patients and doctors better manage their ailments, and even implantable devices can connect via bluetooth and wifi. Such startups are developing smart devices—whether wearable or permanently implanted—that can connect to apps and disease management platforms.
Cathy Skinner of NXgenPort
Catherine Liao of Blumio
Winner (tie): NXgenPort Corporation — Cathy Skinner, Co-Founder
Brumio —Catherine Liao, Co-founder and CEO
Judge’s opinion:
Tom Olenzak, Managing Director, Independent Blue Cross Strategic Investments:
“Both companies have impressive CEOs who are able to succinctly define the company’s product and strategy. These companies are addressing two very specific unmet clinical needs. Not only do their technologies appear to work, And just as importantly, these companies have a thoughtful approach to bringing their products into the clinical workflow. Ultimately, both companies understand the need for a clear strategy to address the business side of the company through sound strategies.”
Dipa Mehta, VP of corporate venture capital and innovation, advocates for Aurora Health: “Both companies are also in large markets (oncology and maternal health) and have a clear view of their technology reimbursement.”
Photo: Walter Lim of Breaking Media
