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About our project
The problem we solve: Patient instructions today are a mess of papers & rushed complicated verbal instructions. Poor patient instructions lead to surgery late-cancellations and no-shows, costing hospitals $24B every year.
About our solution:
An EMR compatible solution, MedAux interacts with patients through automated text message, navigates them at various steps of care, while strives to provide real-time clinical data and updates the medical team.
The patient-generated data collected through the MedAux platform is reimbursable through the CMC Virtual Check-in code: HCPCS code GVCI1.
Progress to
date:
MedAux platform is integrated with Cerner and Epic app store.
We are implemented in the clinical workflow of 9 clinics and hospitals.
Below is the result of our trial with Johns Hopkins Bariatric:
- 96% of patient engagement
- 44% reduction in poor patient preparation
- 64% reduction in late cancellations and no-shows
- 9.6 out of 10 patient satisfaction
Also, in our trial with Napa Vascular Center, we reduced readmission 26%.
About Our Team
Creator: Dr. Elnaz Sarabchian
Location: New York
Bio: Elnaz Sarabchian is a successful CEO and Board member, building two companies over her 8-year C-level career. An inspired, visionary leader with a proven track record of attracting world-class talent and capital to early-stage start-ups, building them into respected, successful high growth companies with strong cultures and committed customers.
Increasing patient compliance and adherence to treatment
Providing longitudinal follow-ups
Reducing call volume and clinical workload
Increasing patient satisfaction levels, resulting in higher HCAHPS scores
How We Help Physicians
Customers' Testimonials:
Dr. Shawn Garber: New York Bariatric Group (12 clinics), USA
Behzad, and the MedAux team have been wonderful from the start! They are willing and ready to perform training whenever needed or answer any questions that the NYBG team may have not to mention their product is amazing our patient rave about it. The constantly provide
feedback stating the program makes them feel well informed and it is easy to use.
Dr. Hany Takla, Middlesex Surgical Associates MA, USA
I had a great experience with MedAux. My patients loved it, they like the reminders and someone sending them a text msg to check on them postop. They felt that they are well cared for every day before and after their surgery. Medaux gave personalized care to each of my patients based on the specific type of surgery they had. The Medaux team is very helpful and supportive. They have available IT support around the clock and trained my staff to use the program. They also helped with legal paperwork and cost of the program to make it affordable for my practice. Great tool and a great team!”
Kimberley E. Steele, MD, Ph.D., FACS, FASMBS,
Associate Professor of Surgery, Director of the Johns Hopkins Adolescent Bariatric Surgery Program, Director of the Johns Hopkins Center for Bariatric Research and Innovation
I believe that such a platform is so timely in an era of health care costs rising and further quality measures based on outcomes being so important. One can only imagine the extent of how a tool like this can make such a difference in the care of any surgical patient. More so, I believe that such a platform can also be an absolute benefit to other medical disciplines as well. My husband, who specializes in internal medicine and sub-specializes in hypertension, would welcome such a platform to monitor his patient’s medication compliance and remind his patients of the importance of taking their medications as directed.
How We Help Hospitals
Generating patient-reported data: Reimbursable through new CMS codes: (HCPCS code GVCI1)
Significantly reducing surgery late cancellation: Enhancing revenue opportunities
Increasing patient compliance and adherence to treatment
Providing longitudinal follow-ups
Reducing call volume and clinical workload
Increasing patient satisfaction levels, resulting in higher HCAHPS scores
Generating patient-reported data: Reimbursable through new CMS codes: (HCPCS code GVCI1)
Challenge Mission
Affiliation(s)
MedAux is an EMR agnostic solution that can integrate with multiple EMR platforms, collect patient-level data, analyze the data, and find the missing information using multiple sources of information. Once the missing data points are identified, our text-messaging solution prompts patients to respond to the missing information. Our solution can help to organize data at large scale using multiple resources. With these capabilities, our solution can help in uniting data and improve the quality of collected data for the participating organizations.
Key Milestones Achieved and Planned
We are integrated with Epic and Cerner EMR and providing service to 7 large medical groups across the US with more than 1000 daily patient-users.
Our Competitive Advantages
MedAux differential value: MedAux generates proprietary data points through direct patient interactions. As patient-reported-data enters to the platform, our algorithms make risk-assessment for each patient and predict the probability of canceling surgery or readmitting to the hospital.
Barriers to Entry
MedAux platform is customizable to design proprietary pathways to automate patient-provider communication at different timelines based on the hospital's current protocols and marketing materials.
Our competitors have a fixed set of pathways that is the main barrier for hospitals’ adoption: One size does not fit all.
Also, MedAux generates proprietary data points through direct patient interactions. As patient-reported-data enters to the platform, our algorithms make risk-assessment for each patient and predict the probability of canceling surgery or readmitting to the hospital.
Funding, Partners and Alliances To Date
We have raised $250K from Angels investors and Village Global Venture.
Revenue
Our YTD revenue was in excess of $150,000, up 20% month over month this year.
Innovation Details
Intellectual Property Summary
N/A
Clinical Information
Generating patient-reported data: Reimbursable through new CMS codes: (HCPCS code GVCI1)
Significantly reducing surgery late cancellation: Enhancing revenue opportunities
Increasing patient compliance and adherence to treatment
Providing longitudinal follow-ups
Reducing call volume and clinical workload
Increasing patient satisfaction levels, resulting in higher HCAHPS scores
Regulatory Status
N/A
How we will use the funds raised
We will use the proceeds of this funding to reach out to more hospitals and communities.
Thank You
We are looking enthusiastically to participate in AMIA Pitch IT Competition 2019.
Investor Info
Market Size
Automated health is forecasted to be an $24B industry.
Projected 3 Year Growth
Our projected revenue in the next 3 years is $2B (considering the market size ($24B) and capturing a quarter of the value that MedAux provides for hospitals).
Revenue Model
We have a SaaS business model, annual subscription based on the number of patients using the platform.
Competitors
Our direct competitors are Medumo and Conversa Health.
The way we stay ahead of the curve and build a competitive moat is based on our continuous learning algorithms that generate propriotory data points through direct patient interactions. As patient-generated data enters our system, our algorithms detect which patients have a higher probability of canceling surgery or readmitting to the hospital.
Traction
We are implemented in the clinical workflow of 9 hospitals and medical centers.
Customers' Testimonials:
Dr. Shawn Garber: New York Bariatric Group (12 clinics), USA
Behzad, and the MedAux team have been wonderful from the start! They are willing and ready to perform training whenever needed or answer any questions that the NYBG team may have not to mention their product is amazing our patient rave about it. The constantly provide feedback stating the program makes them feel well informed and it is easy to use.
Dr. Hany Takla, Middlesex Surgical Associates MA, USA
I had a great experience with MedAux. My patients loved it, they like the reminders and someone sending them a text msg to check on them postop. They felt that they are well cared for every day before and after their surgery. Medaux gave personalized care to each of my patients based on the specific type of surgery they had. The Medaux team is very helpful and supportive. They have available IT support around the clock and trained my staff to use the program. They also helped with legal paperwork and cost of the program to make it affordable for my practice. Great tool and a great team!”
Kimberley E. Steele, MD, Ph.D., FACS, FASMBS,
Associate Professor of Surgery, Director of the Johns Hopkins Adolescent Bariatric Surgery Program, Director of the Johns Hopkins Center for Bariatric Research and Innovation
I believe that such a platform is so timely in an era of health care costs rising and further quality measures based on outcomes being so important. One can only imagine the extent of how a tool like this can make such a difference in the care of any surgical patient. More so, I believe that such a platform can also be an absolute benefit to other medical disciplines as well. My husband, who specializes in internal medicine and sub-specializes in hypertension, would welcome such a platform to monitor his patient’s medication compliance and remind his patients of the importance of taking their medications as directed.
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.
1) We are integrated with Cerner and Epic app store
2) The patient-generated data collected through the MedAux platform is reimbursable through the CMC Virtual Check-in code (HCPCS code GVCI1)
277
Medstartr Index Score
277
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Adoption Score
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Elnaz Sarabchian is a successful CEO and Board member, building two companies over her 8-year C-level career. An inspired, visionary leader with a proven t...
Progress to
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