How We Help Patients
E-Triage attacks the problem of ED crowding and wait time. We have shown an ability to improve the ED wait time at our client Emergency Departments through using evidence based methods.
How We Help Physicians
E-Triage helps providers by providing operational decision support mainly for triage nurses. The current standard of the Emergency Severity Index has proven to be highly subjective and based upon estimated resources. E-Triage combines clinical judgement with evidence to support improved identification of patients' at risk for critical care and hospitalization.
How We Help Hospitals
E-Triage has proven to create 10,000 bed hours in an average ED. This is equivalent to cost savings of approximately $674,000 per year thus helping to bend the cost curve by providing better outcomes with the same resources.
How We Help Partners
E-Triage can provide real time operational decisioin support for identifying patients at risk for critical outcomes or admission. StoCastic also has a deep level of exerience in taking evidence based operations research tools to the bedside.
Challenge Mission
Affiliation(s)
Scott Levin, PhD is an Associate Professor and Associate Director for Research in Emergency Medicine at Johns Hopkins Unversity. He is also the Director for Systems in the Malone Center for Engineering in Healthcare at Johns Hopkins University.
Jeremiah Hinson, MD, PhD is an Assistant Professor and Director of Residency Research in Emergency Medicine at Johns Hopkins University.
Johns Hopkins University also maintains a minority equity position in StoCastic.
Key Milestones Achieved and Planned
ü6 Paying Customers
ü$160K annual recurring revenue (ARR)
ü$250-500k revenue per year; ARR + consulting + R&D awards
üOver $830K in SBIR funding
üRealized ROI in multiple clients and care settings
Our Competitive Advantages
E-Triage is currently under a provisional patent. Through market research and customer discovery we have not seen another product addressing ED crowding with a triage tool using a similar approach. We describe competitive risks in the competitors section.
Barriers to Entry
Patent for E-Triage.
Partnership with Johns Hopkins Medicine provides a competitive advantage.
Have demonstrated evidence of success in deploying E-Triage within EHR systems achieving improvements in patient flow linked to cost-savings and/or revenue generation.
Funding, Partners and Alliances To Date
Our current source of external funding has been through the NSF SBIR program. We are currently within our Phase II and have raised ~$830K to date.
Revenue
Our annual revenue ranges between $250-500K per year. A portion of this is SaaS ARR and the rest is from R&D funding (i.e. grants, partner funding) and consulting revenue.
Innovation Details
Intellectual Property Summary
Exclusive License held by StoCastic for Feb 16’ Provisional patent filed by Johns Hopkins University US 62296753 “E-TRIAGE: An Electronic Emergency Triage System” (Levin, Primary Inventor)
Clinical Information
E-Triage has been peer reviewed through the following publications.
1.Dugas A, Kirsch T, Toerper M, Korley F, Yenokyan G, France D, Hager D, Levin S. An Electronic Emergency Triage System Improves Patient Distribution. J Emerg Med. 2016.
2.Levin S, Toerper M, Hamrock E, Hinson J, Barnes S, Gardner H, Dugas A, Linton B, Kirsch T, Kelen G. Machine Learning-Based Triage More Accurately Differentiates Patients with Respect to Clinical Outcomes Compared to the Emergency Severity Index. Ann Emerg Med, 2017
3.Levin S. Machine-Learning-Based Electronic Triage in Emergency Medicine. American College of Emergency Physicians (ACEP) Annual Educational Conference, Linthicum, MD, 2017.
4.Barnes S, Saria S, Levin S. An Evolutionary Computation Approach for Optimizing Multi-Level Data to Predict Patient Outcomes. Journal of Healthcare Engineering, 2018.
Regulatory Status
We have recieved guidance from an FDA consultant and are continuously monitoring the regulatory landscape. We are considering applying for FDA clearance for future claims and iterations of StoCastic products in the near future.
How we will use the funds raised
The funding will enable to StoCastic to further deploy E-Triage and to improve it's functionality to other health systems. We will use this funding to support further data science resources and to invest in marketing and sales resources. This funding will allow improved functionality for future iterations of E-Triage and to create further awareness of the tool through the participation in conferences both academic and industry related.
Thank You
If you or a loved one has every had to wait in an emergency department you know how frustrating the experience and wait can be. E-Triage is an evidence based tool that leverages the data that health systems have invested significant amounts of money into but have not realized the benefits that were anticipated. StoCastic has realized significant results in some of the world's leading hospitals and would like to spread this work to the rest of the world including your community emergency department.
