As a New York City based entrepreneur, I've been excited to watch as the Big Apple has become the epicenter for innovation on the East Coast. While I mentioned that another industry might be having the biggest 2015, funding for healthcare startups have grown significantly over the past two years. According to a report by Rock Health, over $2 billion has already been invested into health care tech companies this year with a lot of this activity happening locally. In New York, there's an extremely diverse mix of innovators including accelerators, startups and hospitals.
Here's a glimpse of some great organizations that are paving the way for the future of health care.
Named one of the world's most innovative health care company's, Blueprint Health's startup accelerator helps entrepreneurs build the next generation of healthcare IT companies. With 8 classes of companies completed, alumni of the program represent 68 companies and 140 entrepreneurs. Located in SOHO, Blueprint touts the largest structured mentor network in the digital space and established a reputation for building successful, revenue generating portfolio companies.
With US health care system costing more per capita than any other country, it's not surprising to discover that over a third of visits to specialists are avoidable. To address this problem, RubiconMD connects primary care providers to specialists for e-consults, improving timely access to specialist expertise.
The company was founded in March 2013 by two Harvard MBAs and a physician on faculty at Harvard Medical School with a mission to democratize medical expertise. To-date, they have raised $1.5M in financing, led by Waterline Ventures and EMR giant athenahealth, and are currently deployed in 17 states. They're definitely a company to keep an eye on.
One of the most overlooked problems in the health care system is physician education. Research shows that, despite continuing medical education (CME) requirements, physician competency decreases over time highlighting a fundamental problem with CME. Enter forCME. Their on-demand, CME solution allows physicians to ask clinical questions at the point of care, receive answers from peer-reviewed literature immediately, and earn CME credit for learning. Barton Harris, MD, an orthopedic surgeon and forCME user said the technology should "be a no brainer" for all doctors to use. The company is led by a former Duke Hospital administrator, accredited by Hospital for Special Surgery, and is backed by physician investors.
New York-Presbyterian Hospital
One of the nation's largest hospitals, New York-Presbyterian saw over 2 million patient visits last year and was also ranked #7 nationally by US News World Report. But NYP isn't content with their position as one of the nation's to top hospitals. They recently launched their Innovation Center to be on the forefront of health care innovation. The center is creating new ways to improve health care delivery through a structured framework to innovation, organizing open innovation competitions, and partnering with other forces for disruption.
If you've ever been admitted to a hospital, then you know how stressful it can be. Founded by a tech executive and a cardiologist, PadInMotion provides a comprehensive tablet solution that helps improve the patient experience. Their solution not only keeps patients entertained, but helps engage them in their care with customized education. Launched only a few years ago, the company works with over a dozen large health systems such as The Mount Sinai Medical Center, NYU, Hackensack, LifePoint, Piedmont, and Rush. Healthcare organizations using PadInMotion have found it beneficial for things such as: