About our project

The problem we solve: Physicians are unable to manage patient's condition's effectively due to limited visibility into patient's complete medical records spread across multiple care settings (Hospitals/ER, Physician Practice, Nursing Home & specialists) & inefficient clinical workflow(administrative burden) imposed by Electronic Medical Records (EMR) applications. This is causing significant hospital re-admissions resulting in $25B/Yr in unnecessary spend by Healthcare industry and $528M/Yr in penalties for Hospitals.

About our solution: Mili, a Virtual Clinical Assistant for Health systems to simultaneously connect to all their EMRs (in Hospitals, ERs, Practices ...) for analysis of consolidated medical records to identify patients at risk of hospital admission. Physicians can simply talk to Mili via smartphone in their natural language to diagnose & treat the patient to prevent the ER visit. They can then quickly dictate instant clinical notes into patient chart & auto submit to billing to complete their workflow efficiently

Paying customers - 25 healthcare organizations providing physician care in hospitals, long-term care facilities & office settings

Community response: 70% of all our new customer acquisition through existing customers referrals

Physician - Patient encounters completed - 700,000
Monthly Revenue in Sept 2017: $19k

Partners: Allscripts, Epic(agreed to partnership)

About Our Company

How We Help Patients

This technology takes over the burden from the patient of knowing & reporting all pertinent information to the physician & ensures physicians identify the risk of potential hospital admissions for any & all their patients so as to take preventive measures like adjusting medication to avoid their hospital visits keeping patients happy and healthy at home.

How We Help Physicians

Today Physicians are spending 40% of their time for clinical documentation & other administrative tasks. Our solution helps them reduce that so they have upto 30% more patient time. Our solution allows them to dictate instant clinical notes using an iPhone that is then stored in discrete format to help with clinical decision support and report on quality measures to avoid penalties imposed by payers like CMS. All this at 25% of the cost of a traditional transcription service and 10% of the cost of a traditional scribe.

The solution can also be setup to seemlessly exchange patient data with hospital and specialists to identify high risk patients and effectively manage their condition to avoid ER visit.

How We Help Hospitals

Health systems face financial risks/penalties with capitated payment structure due to hospital re-admissions and longer length of patient stays. Their efforts to simplify a physicians workflow and enable them to manage patient's condition effectively require changes to their EMR and clinical decision tools that involve years of application development cycles. They can instead train Mili  through machine learning for smarter clinical decision support to avoid hospital readmissions and shorten length of hospital stay with automation of administrative tasks instead of waiting through years of EMR application development cycles.

How We Help Partners

The EMR vendor partners can improve their value by providing cutting edge technology of a virtual clinical assistant with medical understanding to simplify their customer's clinical workflows enabling them deliver more effective patient care and mitigate their financial risks associated with hospital readmissions without having to invest massive capital into their EMR application development. They can deliver clinical decision support intelligence faster to their customers by training our virtual assistant through machine learning

Challenge Mission

Innovation Details

Intellectual Property Summary

Our technology is hard to replicate as it requires combination of gathering massive amount of data around user behavior, deep understanding of clinical information and EMR integration knowledge. We have decided to maintain this as trade secret rather than file for patent.

Clinical Information

Measured our physician users performance for 700,000 patient encounters to report the following improvements:

More Patient Time:

Increase in average patient time for a physician by reducing documentation & other administrative burdens with our solution : 32% more patient time (25 patient encounterd completed by our physician users Vs. 17 patients when using paper charts or EMR applications)

Lower Cost of Care:

Average length of stay for patients in Skilled Nursing Facility : 25% shorter (18 days for our physcian's patients vs 24 days national average)

Regulatory Status

Solution does not require FDA clearance.

How we will use the funds raised

45% -  Further developing NLP / AI / MACHINE LEARNING ENGINE and Integrating with customer's EMR applications

35% - Business Development (Sales & Marketing) to drive revenue

20% - Operational & other Expenses

Thank You

We as a nation have spent close to $25B in incentives to drive the adoption of EHR technology for smarter care at lower cost. But today only 56% of patients with chronic conditions get required care resulting in $17B spend on avoidable hospitalizations & $528M hospital penalties threatening the financial viability of providers. This is because EHR technology provides physicians incomplete patient data spread across multiple settings(Hospitals, Physician Practice, Nursing Home, Specialists....) & imposes heavy administrative burdens on them (40% of physician time spent recording data).  We are on a mission prevent such waste & make healthcare more affordable. Please vote for our project & help us get required financial support.

Investor Info

Market Size

Target Market: Health systems in English speaking countries (USA, Canada, UK..)
Total Market Opportunity (USA alone) : $9B in Annual Recurring Revenue (ARR) [1.3M Users (Physicians & Mid level practitioners) in USA alone -  x $450/Mo/user subscription fees x 12 Months]

Estimate Total Market Opportunity for key English speaking countries(USA, Canada, UK, Australia): $25B Annual Recurring Revenue (ARR)

Projected 3 Year Growth

We intend to achieve 3% US market penetration within three years with gross margins at 55%. This will produce 180M in Annual recurring revenue by 2020

Revenue Model

While we continue direct sales to smaller physician groups, we plan to pursue larger health systems through partnerships with EMR vendors by leveraging their existing relationships. 

Individual Physician Practices: Direct Sales

Larger Health/Hospital systems: Channel Sales via partnership with EMR vendors to resell Mili to their customers
Allscripts already a signed partner
Epic agreed to partnership (Integrated solution ready by Dec 2017)

Plan to publish Mili's connector framework for 300 other EMR vendors so they can integrate it wilth their EMR and to resell to their existing customers

Competitors

Current Competitors: Augmedix, Entrada(Acquired by Nextgen), TalkChart, NoteSwift, Scribes, Transcriptionists, IBM Watson

Future Competition: Siri (Apple), Alexa(Amazon)

- Clinical decision support based on complete patient data (consolidated from Hospital, ER, Physician Office...) Vs. based on incomplete patient data (from a single EMR)
- Quick clinical intelligence updates via machine learning for smarter care Vs. Long software application development cycles
- Have clinical understanding of Medical terms and context(Missing in Siri & Alexa) - Our platform has ability to deliver the service via Siri & Alexa in the future

Traction

Paying customers - 25 healthcare organizations providing physician care in hospitals, long-term care facilities & office settings
Physician - Patient encounters completed - 700,000
Monthly Revenue in Sept 2017: $19k

Due Diligence Docs

Please note that access to the company's confidential materials is limited. Click this button to request access from the Company and its representatives.

Send access request

Supporters

• 
  Ben Berlin
  11/12/2017 - Liked the project.
• 
  Francie Grace
  10/27/2017 - Liked the project.
• 
  Anita Singh
  10/26/2017 - Liked the project.
• 
  Srkprasad Siddamsetti
  10/26/2017 - Liked the project.
• 
  Satish Mejanarao
  10/26/2017 - Liked the project.
• 
  Bangaram Raj
  10/26/2017 - Liked the project.
• 
  Mark Liber
  10/25/2017 - Liked the project.
• 
  Shiva Kiran
  10/25/2017 - Liked the project.
• 
  Ramesh Koppula
  10/25/2017 - Liked the project.
• 
  Mark Jamilkowski, FSA
  10/20/2017 - Interested in helping your project as a mentor or team member.
• 
  Mark Jamilkowski, FSA
  10/20/2017 - Followed the project.
• 
  Sharad Mishra
  10/18/2017 - Liked the project.
• 
  Alex Fair, MS
  10/16/2017 - Liked the project.

Comments

• 
  Avinash Kodey posted on 1st November, 2017

  Thank you for the comments. The application is customizable with associated words/phrases for billing codes to help physicians pick the right one. The patient records created by a physician are accessible by the entire care provider team. And all the patient data recorded via notes and other means can be automatically posted in real time into patient portal for access/review/correction by patients.

  Report as Spam
• 
  April Russell posted on 28th June, 2018

  Health systems face financial risks/penalties with capitated payment structure due to hospital re-admissions and longer length of patient stays. five nights at freddy's

  Report as Spam
• 
  games vex posted on 3rd July, 2019

  Love it, it's definitely important to know how to do this properly and efficiently, clients LOVE these. candy crush soda

  Report as Spam
• 
  Jual Flimty posted on 8th November, 2019

  aaa

  Report as Spam
• 
  restoe boemie posted on 13th November, 2019

  Tidak mudah memang menemukan tempat website untuk nonton film yang benar-benar sesuai dengan keinginan. Sebagai pengguna, tentu kita ingin menikmati film secara gratis, mudah, nyaman, lengkap dengan subtitle indonesia dan kualitas HD

  Report as Spam
• 
  restoe boemie posted on 13th November, 2019

  [url=”google.com/”]google[/url]

  Report as Spam
• 
  restoe boemie posted on 13th November, 2019

  Di artikel sebelumnya sudah saya buatkan panduan mendaftar facebook lewat hp via aplikasi facebook seluler. Jika anda tertarik mengikuti cara tersebut silahkan baca panduannya di cara bikin fb

  Report as Spam
• 
  restoe boemie posted on 13th November, 2019

  Technically you can bookmark anything – you could literally bookmark every page of your website however I don’t recommend that. The idea behind social bookmarking is that you are sharing content with other users around the web.

  Report as Spam

Updates

No updates found .