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About our project
The problem we solve: DIASYST addresses:
• Suboptimal outpatient management of chronic diseases that results in high healthcare costs
• Clinical inertia where healthcare providers are not set up to deliver the care patients need
• Labor-intensive clinical decision making by automating patient data collection and analyses
• Lack of physician-patient engagement by enabling low-cost, rapid, virtual interactions
• Low rates of drugs being prescribed by helping the healthcare provider understand how to begin new medications for their patients
• Poor patient medication adherence by keeping patients engaged with their care
• Need for more diabetes care providers by empowering primary care clinicians to manage more patients and do more for them with an "endocrinologist in your pocket"
About our solution:
DIASYST is a health IT company out of Emory University, Georgia Tech, and the Atlanta VA Medical Center developing novel solutions to improve the management of common and costly diseases, including diabetes, hypertension, and hyperlipidemia. We engage patients to collect critical information in real time, analyze the data with proprietary algorithms, and provide time appropriate medication intervention recommendations for the healthcare team to make effective, individualized, and safe treatment decisions. Using clinically proven and published approaches, DIASYST delivers financial and clinical outcomes by reducing patient risks of complications, optimizing workflows for providers, and increasing care capacity for systems.
DIASYST is the first, live, reimbursable comprehensive pharmacological decision support solution, with proprietary algorithms and support of over 90+ diabetes medications, that monitors patients in real time and seamlessly integrates into the physicians' EHR workflow
Progress to
date:
DIASYST has launched to its first customers, with apps in production and currently live on the Apple App and Google Play Stores. We have an increasing client base in the Southeast (primarily Georgia) and are now executing on our direct sales and channel partnership strategies. With recent CMS reimbursements and FDA deregulation, and 1.25M raised out of 2M, the market response has been very enthusiastic for a comprehensive patient- and provider-facaing solution that finally provides real clinical, operational, administrative, and financial outcomes.
About Our Team
Creator: Tim Eggena
Location: Georgia
Education: Auburn University
Bio: Tim Eggena joined DIASYST in September of 2016 after previously serving as a corporate advisor since 2015. As Chief Strategy Officer, Mr. Eggena oversees the early stage capital fund raising, go-to-market launch strategy, and the corporate build-out of the infrastructure required to scale.
Prior to his full time role at DIASYST, Mr. Eggena had a 25-year career in HIT having co-founded MicroMed, the practice management backend of NextGen Healthcare, and assisting in its explosive growth to half a billion in ARR, 3000 employees, and over 85,000 providers served. Mr. Eggena had served in many different executive leadership positions within NextGen ranging from product development to revenue cycle management. Mr. Eggena's track record has a proven success and passion for HIT innovation, vision, strategy and execution.
Title: Chief Strategy Officer
About Team Members
Chun Yong
Chief Executive Officer & Founder, BS - Georgia Tech Biography: Georgia Tech biomedical engineer; UX, health IT, technology, operations, marketing expert; digital strategy advisor for startups to Fortune 500.
Title: Chief Executive Officer & Founder Advanced Degree(s): BS - Georgia Tech LinkedIn:https://www.linkedin.com/in/chunyong/
Dr. Larry Phillips
Chief Medical Officer & Founder, MD - Harvard University Biography: Emory Professor of Medicine, Atlanta VA Director of Clinical Studies Center; 40+ years diabetes care, 250+ research publications, teaching, research.
Title: Chief Medical Officer & Founder Advanced Degree(s): MD - Harvard University LinkedIn:https://www.linkedin.com/in/medlsp/
Ian Schneider
Chief Design Officer , BS - Kennesaw State University Biography: Award-winning designer and user experience strategist; previously Coca-Cola; 10+ years product design, photography, and marketing.
Title: Chief Design Officer Advanced Degree(s): BS - Kennesaw State University LinkedIn:https://www.linkedin.com/in/goian/
Dimitar Ivanov
Chief Technology Officer, BS - Technical University of Sofia Biography: Founder of Incept Development, software development agency for mobile and webapps; 15+ years leadership in technical development.
Title: Chief Technology Officer Advanced Degree(s): BS - Technical University of Sofia LinkedIn:https://www.linkedin.com/in/dimitar-ivanov-16942a17/
Jay Mansour
Regulatory Advisor, MS - Southern Polytechnic State University Biography: 100+ FDA premarket notifications submitted and cleared; 20+ years medical device/software quality and regulatory leadership.
Title: Regulatory Advisor Advanced Degree(s): MS - Southern Polytechnic State University LinkedIn:https://www.linkedin.com/in/jay-mansour-5a272b1/
Rick Haury
Corporate & Financial Advisor, JD, MBA - Vanderbilt Biography: CrossLink Life Sciences general counsel; founded SEMDA; previously Morris Manning; 30+ years medical device leadership.
Title: Corporate & Financial Advisor Advanced Degree(s): JD, MBA - Vanderbilt LinkedIn:https://www.linkedin.com/in/rick-haury-0ba35549/
Rich Walsh
Marketing Advisor, BS - Auburn University Biography: 25+ years in HIT marketing: strategic relationship building, vendor partnerships, network development, organic growth, territory enablement, enterprise solutions sales, and M&As.
Title: Marketing Advisor Advanced Degree(s): BS - Auburn University LinkedIn:https://www.linkedin.com/in/richhwalsh/
Carmen McGraw, PA
Customer Experience Architect, PA - Emory University Biography: 25+ years in ambulatory medicine and electronic health records: HIT software installation, training, support, product development, product utilization, and medical practice (family medicine and emergency medicine)
Title: Customer Experience Architect Advanced Degree(s): PA - Emory University LinkedIn:https://www.linkedin.com/in/carmen-mcgraw-pa-mmsc-7413799/
Theresa DiStefano
Clinical Quality Assurance Lead, RN - Kennesaw State University Biography: 15+ years as RN, clinical analyst, and quality assurance: prior experiences with McKesson, REACH Health, and WebMD
Title: Clinical Quality Assurance Lead Advanced Degree(s): RN - Kennesaw State University LinkedIn:https://www.linkedin.com/in/theresa-distefano-rn-bsha-44928223/
Julie Thiede
Technical Quality Assurance Lead, BBA - University of Georgia Biography: 20+ years in senior quality assurance positions and analyst roles, including: McKesson, WebMD, TeamStaff, LexisNexis, and REACH Health
Title: Technical Quality Assurance Lead Advanced Degree(s): BBA - University of Georgia LinkedIn:https://www.linkedin.com/in/julie-thiede-569a592/
DIASYST engages patients directly with their diabetes care by allowing them to report their glucoses, medication changes, and differences in diet and activity. We educate them on their patterns and how what they do might impact their glucose control. Additionally, we provide a channel between the patient and their care teams: without the need for office visits, we allow changes to occur virtually to help patients achieve diabetes control much more rapidly and cost-effectively.
How We Help Physicians
DIASYST is a comprehensive, EHR-integrateable solution built to revolutionize the management of common and costly diseases, including diabetes, hypertension, and hyperlipidemia. We engage patients to collect critical information in real time, analyze the data with proprietary algorithms, and provide time-appropriate pharmacological intervention recommendations for the healthcare team to make effective, individualized, and safe treatment decisions. By deploying DIASYST, providers will be able to achieve key clinical, operational, administrative, and financial goals, such as:
Improved A1c and blood glucose levels of type 2 diabetics, reducing the incidence of both hyper- and hypoglycemia
Reduced risks of developing diabetes complications, including heart attack, stroke, kidney failure, blindness, and foot amputations
Reduced ED visits, hospital stays, and readmissions
Reduced office visits and phone calls for optimal patient care, which will:
Increase patient access to care
Increase provider productivity and capacity
Improve patient satisfaction and retention
Decrease costs of care
Increase provider-patient engagement
Scaled specialist endocrinology-level care to primary care, mid-level providers, and pharmacists, who manage over 95% of all diabetics
Increase value-based and fee-for-service-based reimbursements, through improvements in MIPS and ACI measures as well as increases in telehealth/remote monitoring collections
How We Help Hospitals
By helping providers monitor and control blood glucoses of their high-risk patients, DIASYST reduces the risks of developing diabetes complications, including heart attacks, strokes, kidney failure, blindness, and foot amputations, and helps reduce ED visits, hospital stays, and readmissions. DIASYST is very suitable for transitioning care from the hospital to the patient home, particularly for patients admitted initially due to severe hyperglycemia, hypoglycemia, or other diabetes-related factors.
How We Help Partners
• Payers, shared-savings programs, and Medicare Advantage programs that will benefit from lowered costs due to improved diabetes management
• Large employers that will develop a more productive and healthier workforce while decreasing healthcare expenses
• Pharmacies that would benefit from increased patient engagement, medication adherence, and decreased DIR fees
• Diabetes drug and device manufacturers that will benefit from more, better, and safer use of their products
• Electronic health record companies with third-party app programs as channels into healthcare provider users
Challenge Mission
Market Size
Diabetes, hypertension, and hyperlipidemia affect over 29, 70, and 74 million Americans, respectively, and cost the U.S. over a quarter trillion dollars annually. 1 in 3 Americans is going to develop diabetes in their lifetime, and each patient costs $13,700 per year, of which about $7,900 is attributed to diabetes. Adoption of smartphone technologies by patients have risen to over 70%, allowing for tech-enabled disease management, and it is growing rapidly every day. Our results have shown cost savings of at least $800 per diabetic per year, and Medicare currently reimburses up to $58 per patient per month for use of our solution. In just the U.S. diabetes market alone, at a price point of only $5 per patient per month, DIASYST represents a 1.2 billion USD (29 million x 70% x $5 x 12 mo) potential in annual recurring revenue today.
Projected 3 Year Growth
Our conservative 3-year projections are as follows:
2018 - 30,000 patients (0.1% US market), $1.8M in ARR
2019 - 60,000 patients (0.2% US market), $3.6M in ARR
2020 - 120,000 patients (0.4% US market), $7.2M in ARR
How We Will Make Money
See previous response to this question.
DIASYST revenue will primarily come from direct and channel sales software subscription-based revenue from the market served. We are currently focused on providers that serve diabetics, including endocrinology, internal medicine, and family medicine practices, integrated healthcare systems, and Medicare Advantage programs. Over time, other revenue sources will be explored, including share-savings based license models, data monetization, ad-based revenue, complimentary software services, and revenue sharing for helping distribute drugs and devices.
About our Competition
The diabetes market is saturated with literally hundreds of solutions. Key players include Livongo, One Drop, WellDoc, Glooko, Rimidi, MySugr, and Omada. However, adoption has been poor, and many of these solutions require extensive use of human capital, are very expensive with questionable ROI, tied down to a specific device, do not provide comprehensive clinical decision support, are not workflow-friendly, may not be reimbursable, and do not address both the provider and patient problems. DIASYST empowers current providers to provider better care more effectively and generate more revenue without the need of additional human capital, is inexpensive with proven clinical and financial ROI, is device-agnostic, provides comprehensive support for all diabetes drugs, is very workflow and user-friendly, is reimbursable, and addresses comprehensively problems for both providers and patients.
Progress with Customers to date
Our current clients include:
Emory Healthcare
U.S. Department of Veterans Affairs
Georgia Mountain Endocrinology
Olive Branch Family Medical Century
North Georgia Primary Care
Canterbury Court
DIASYST is gaining massive traction in the southeast with diabetes clinics, primary care, endocrinology, retirement communities, and specialty pharmacies.
New Orleans and Our Company
By winning this challenge, DIASYST is seeking early adopters to implement the solution and work closely with us on the evolution of the product and services. DIASYST foresees dedicating appropriate resources, including employees and new hires, to the city of New Orleans and the state of Lousiana, as we deploy the solution locally.
Innovation Details
Intellectual Property Summary
Methods and systems for dynamic management of a health condition
WO2015175767 A1
Inventors: Lawrence S PHILLIPS, Chun YONG
Applicant: Emory University, The United States Government Represented By The United States Department of Veterans Affairs
Methods and systems relate to dynamic management of a health condition based on the changing needs and status of individual patient(s) and/or provider(s). The method may include processing information to determine one or more health management factors for a patient; generating a health management plan for managing a health condition of the patient based on the one or more management factors, the management plan including one or more goals, treatment regimen information, one or more prompt conditions, one or more attributes of one or more treatment events, or a combination thereof; and generating one or more prompt(s) based on the management plan.
DIASYST was founded based on diabetes research and approaches at Emory University, the Atlanta VA Medical Center, and various other research affiliates. Key publications in the past are listed below, with ongoing studies that continue validating DIASYST's clinical efficacy at both sites.
Translating What Works: A New Approach to Improve Diabetes Management
https://www.ncbi.nlm.nih.gov/pubmed/25759182
We Can Change the Natural History of Type 2 Diabetes
https://www.ncbi.nlm.nih.gov/pubmed/25249668
An Endocrinologist-Supported Intervention Aimed at Providers Improves Diabetes Management in a Primary Care Site: Improving Primary Care of African Americans with Diabetes (IPCAAD) 7
https://www.ncbi.nlm.nih.gov/pubmed/16186262
What Does it Take to Keep Glucose Normal?
https://books.google.com/books?id=DGjACQAAQBAJ&lpg=PA284&ots=zqHvHCiWIG&pg=PA284#v=onepage&q&f=false
Increased Cardiovascular Disease, Resource Use, and Costs before the Clinical Diagnosis of Diabetes in Veterans in the Southeastern US
https://www.ncbi.nlm.nih.gov/pubmed/25608739
Nurse Practitioners, Physician Assistants, and Physicians are Comparable in Managing the First Five Years of Diabetes
https://www.ncbi.nlm.nih.gov/pubmed/28893514
Regulatory Status
DIASYST is not regulated by the FDA. However, we are currently pursuing various industry-recognized certifications and attestations, including but not limited to: ISO 13485, ISO 27001, SOC2, and SOC3.
How we will use the funds raised
Use of funds will be primarily focused on operational buildout in marketing and sales to help DIASYST achieve its annual revenue goals and become cash flow positive. Funds will support a sales force, lead generation, travel, CRM, exhibitions, and other general marketing-related activities. Funds will secondarily support ITS (implementation, training, and support) and continued development and maintenance of the product.
Thank You
There has never been a solution like DIASYST with global potential brought to market that provides benefits to patients, providers, health systems, payers, pharmacies, large employers, pharmaceutical companies, glucose meter manufacturers, and everyone who is affected by diabetes. While we are focused first on type 2 diabetes, our roadmap will address additional critical disease states such as hypertension, hyperlipidemia, and congestive heart failure. Based on evidence generated from Emory University, the Atlanta VA Medical Center, and other affiliated research partners, we have built a team that is able to truly address the epidemic of the century. JOIN THE DIASYST DISRUPTION TODAY!
Investor Info
Market Size
Diabetes, hypertension, and hyperlipidemia affect over 29, 70, and 74 million Americans, respectively, and cost the U.S. over a quarter trillion dollars annually. 1 in 3 Americans is going to develop diabetes in their lifetime, and each patient costs $13,700 per year, of which about $7,900 is attributed to diabetes. Adoption of smartphone technologies by patients have risen to over 70%, allowing for tech-enabled disease management, and it is growing rapidly every day. Our results have shown cost savings of at least $800 per diabetic per year, and Medicare currently reimburses up to $58 per patient per month for use of our solution. In just the U.S. diabetes market alone, at a price point of only $5 per patient per month, DIASYST represents a 1.2 billion USD (29 million x 70% x $5 x 12 mo) potential in annual recurring revenue today.
Projected 3 Year Growth
Our conservative 3-year projections are as follows:
2018 - 30,000 patients (0.1% US market), $1.8M in ARR
2019 - 60,000 patients (0.2% US market), $3.6M in ARR
2020 - 120,000 patients (0.4% US market), $7.2M in ARR
Revenue Model
DIASYST revenue will primarily come from direct and channel sales software subscription-based revenue from the market served. We are currently focused on providers that serve diabetics, including endocrinology, internal medicine, and family medicine practices, integrated healthcare systems, and Medicare Advantage programs. Over time, other revenue sources will be explored, including share-savings based license models, data monetization, ad-based revenue, complimentary software services, and revenue sharing for helping distribute drugs and devices.
Competitors
The diabetes market is saturated with literally hundreds of solutions. Key players include Livongo, One Drop, WellDoc, Glooko, Rimidi, MySugr, and Omada. However, adoption has been poor, and many of these solutions require extensive use of human capital, are very expensive with questionable ROI, tied down to a specific device, do not provide comprehensive clinical decision support, are not workflow-friendly, may not be reimbursable, and do not address both the provider and patient problems. DIASYST empowers current providers to provider better care more effectively and generate more revenue without the need of additional human capital, is inexpensive with proven clinical and financial ROI, is device-agnostic, provides comprehensive support for all diabetes drugs, is very workflow and user-friendly, is reimbursable, and addresses comprehensively problems for both providers and patients.
Traction
Our current clients include:
Emory Healthcare
U.S. Department of Veterans Affairs
Georgia Mountain Endocrinology
Olive Branch Family Medical Century
North Georgia Primary Care
Canterbury Court
DIASYST is gaining massive traction in the southeast with diabetes clinics, primary care, endocrinology, retirement communities, and specialty pharmacies.
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.
CEO, Chun, had another demo this week that produced a signed deal. Rollout starts next week. Had another demo is a very large healthcare organization yesterday. Deal and rollout forecasted for April. Another demo later today. The feedback we are getting on our solution continue to confirm many aspects of our product and business model. Very exciting!
Chun, our CEO, did another sales pitch to a very (unnamed) large endo practice and closed them on the spot. Rollout to start soon. The response from the endo market is off the charts.
Our first installed client, a GA endo, reported his first payment of the 99091 CPT4 code! This confirms that CMS is reimbursing for tele-health solutions like DIASYST. Providers can now be paid for DIASYST.
Excited about 2 full time, seasoned, sales executives starting tomorrow. Their experience and network will fulfill a component of our strategic revenue plan. They are looking forward to providing such a valuable solution to the market with a powerful ROI.
216
Medstartr Index Score
171
Interest Score
9
Adoption Score
37
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Partners
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Pilots
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Tim Eggena
Chief Strategy Officer
Auburn University
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Tim Eggena joined DIASYST in September of 2016 after previously serving as a corporate advisor since 2015. As Chief Strategy Officer, Mr. Eggena oversees t...
