The problem we solve: More than 100 million Americans currently have one or more chronic illnesses. Given the changing ethnic demographics, the aging of the U.S. population, and advances in treatment, the prevalence of chronic illnesses will continue to increase. It is also clear that the quality of care for a variety of chronic illnesses is suboptimal. These issues have already begun to tax health care systems. The current solutions, however, have limitations that lessen their likely long-term impact. Specifically, they are often short-term, are not evidence-based, are not integrated into primary care, frequently pay only scant attention to self-management support and training, and are almost always directed toward a single chronic illness. According to the data, patients forget 86% of what they learn from their doctors, 30% of medications are never filled and 50% of medications are not taken as prescribed.
About our solution: MedAux helps hospitals to implement & optimize patient-education faster & more efficiently. The platform is powered by artificial intelligence that matches the best patient-education materials with the patients' age, diagnosis, & language. We provide doctors a library of patient-education videos that incorporate best-practices for adult learning, health literacy, etc. Doctors can prescribe educational packages (videos, images, articles) through EHR. Patients are notified automatically via SMS, Email, or mobile notifications. We identify patients' actions in real-time, & intelligent algorithms alert healthcare team for patients at-risk of ER visits or readmissions, helping the care team to be proactive in catching patients off-track. Doctors can communicate and reach out to the patients via MedAux HIPAA compliant web/mobile messaging. MedAux integrates into the hospital's EHR, improves patients' activation measure, & compliance with no additional burden on the healthcare team.Progress to date:
The web and mobile app are launched, and we are running a pilot study with 1200 asthma patients.
The platform is scalable for all specialties with a specific focus on diabetes.
Creator: Elnaz Sarabchian
Education: Hofstra University
Bio: Elnaz Sarabchian, CEO & co-founder at MedAux is a doctorate in educational technology from Hofstra University. She started MedAux company with her husband, Behzad Jazayeri, MD. Her passion is to solve problems by using technology and innovation. Elnaz previous company, ReLinking, is integrated into Research Center at Tehran University of Medical Sciences.
Advanced Degree(s): Ph.D
Biography: Behzad Jazayeri is a physician, published researcher, and inventor with numerous international awards. He earned his MD at Tehran University of Medical Sciences in 2013. Behzad’s passion is healthcare innovation, quality of life improvement, and personalized care. He has been selected as the top research award winner by AOSpine international community of spine surgeons in 2015. In 2013, Behzad founded ReLinking, an application for Iran's medical student research market. In United States Medical License Examinations, Behzad scored among the top 10%. He has published two books, and more than 40 articles in peer-reviewed journals including Urologic Oncology, European Journal of Spine, Cancer Epidemiology, Neuroepidemiology, Urology (Golden Journal). Currently, Behzad is a researcher at Lenox Hill hospital at NYC.
Advanced Degree(s): MD
Biography: Ali Alavi is a Ph.D. in computer science with more than 20 years of experience in machine learning & product development.
Advanced Degree(s): Ph.D.
MedAux is aimed to reduce complication rates in diabetes patients. Reduction in complications not only reduces the direct cost of chronic disease to the health care but also reduces the burden of chronic diseases on the society. On the other hand, reduction of chronic disease complications has a direct and robust impact on not only increasing the lifespan of patients but more importantly increasing the quality of life of patients. In all, the changes in the behavior, knowledge, and attitude of patients dealing with chronic diseases are of utmost importance for the next generation. The changes in diet, exercise, and lifestyle of parents have a direct impact on the children. This impact ensures a healthier society in the future.
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MedAux partners with health systems to optimize patients' self-management skill, increase patients' education, and reduce preventable ER visits or readmissions.
We provide a number of solutions such as remote patient monitoring, patient-education, identifying patients' actions in real-time and quantifying costs for all payers.
Providing patient education and active engagement in hospitals result in:
Value-based care is shifting increasing responsibility for quality and cost to providers, hospitals and health systems. Healthcare organizations need more scalable ways to deliver better care across the continuum.
Our mission is to give every patient the best health outcomes. We are clinicians, educators, and engineers leveraging health-literacy, data, and technology to improve patient engagement and care coordination across the care continuum.
The patient engagement solutions market is expected to reach USD 18.68 billion in the USA by 2024.
Projected 3 Year Growth
We intend to achieve 10% market penetration within three years with gross margins at 70%. This will produce $3M annual recurring revenue by the end of 2019
How We Will Make Money
While we believe our platform is extremely useful for innovators and the four main stakeholders of healthcare innovation (Patients, Providers, Partners, and Institutions) we believe the greatest opportunity for our company is to work with hospitals, performance provider services, and large physician groups. We charge $24k annual subscription fee per department in a hospital.
About our Competition
While MedAux is presently unique, there is no reason others can not follow in our footsteps. We are building MedAux advisory board with strong connections in the industry. We are planning to protect our technology (AI algorithm) through filling a patent. Our platform is designed in a modular format which enables us to expand fast.
Progress with Customers to date
We have raised our seed round from NYU StartEd accelerator program in September of 2017. We are raising $750k seed round.
New Orleans and Our CompanyWe are based in New York at the moment and had the chance to meet Sally Lindsay and Louis David during the MedMo17 event, in which MedAux was among the award winner companies. We will move the operations to the New Orleans if MedAux gets selected in the challenge. This way we will focus and understand the needs of the community and provide the solutions that match best to those needs. Through our circle of friends, we have heard great feedback about the New Orleans health system and cannot wait to be part of the movement.