The healthcare space is constantly changing and growing. Forbes has said that healthcare is a trillion-dollar industry in the making, citing that McKinsey & Company predicts health care spending in China will reach $1 trillion by 2020. That’s a lot of dollars going through payers, providers and consumers. Who are the movers and shakers that will make a difference, not only from a financial perspective, but from a patient-centered “meaningful care” perspective?
Will they answer the trillion-dollar questions of: how do we keep people healthy, make sick people well again and best manage those that have barriers to health – all within a manageable cost containment?
There are 7 innovative health companies that are tackling at least one of the solutions to those questions, so let’s take a glimpse at some of the movers and shakers and how they’re going about changing healthcare (listed in alphabetical order):
1. Health Hero, Inc.
Health Hero promises delightful and profitable health engagement, in seconds. Founded in 2010 and receiving $1.3M in one round in October of 2016, Health Hero brings Artificial Intelligence (AI) to health and wellness. Through AI, they provide smart, multi-channel, and integrated health engagement experiences that are simple to deploy to patients & employees. Think about AI touches including automated phone calls and texts that “feel” human to the user and where that can take the ability to implement and deliver health engagement. Keep your eye on Health Hero.
2. Imagine Health, Inc.
Imagine Health, based out of Utah has a transformational “SmartCare” approach to healthcare by matching employers that have large concentrations of employees in a single geographical area with the highest-performing providers. This value-oriented payment strategy increases efficiencies and standard of care. Companies may save 20 percent or more on cost while improving outcomes and member experience. After securing $21M in series A funding over a year ago, Imagine Health has ramped up into a company-to-watch as they transform healthcare delivery.
3. Simplee® (Simplifycare, Inc.)
Founded in 2010 out of Palo Alto, California, Simplee® is redefining how patients engage and pay across the customer journey in healthcare. Built for providers and focused on consumers, they are out to make healthcare consumer friendly with their patient communication engine: kind-of-a mint.com for healthcare finance. The platform shows you how much money you’ve spent, the status of your deductible, your health savings account balance and transactions, and a very important feature: where there may be errors in your bill. Receiving their most recent funding round of $20M in May of 2016 for a total of $37M in 4 rounds, Simplee® is paving the way for stress-free payments on the payee and receiving end.
4. Solera Health, Inc.
This Arizona based company has a preventive health approach as it connects patients, payers and physicians to a network of partners who are preventing and managing chronic disease. The Solera team proactively identifies the chronic disease prevention program provider that will fit best based on each individual’s unique needs and preferences. Solera is currently making strides in the Diabetes Prevention Program (DPP) space taking note that the Centers for Medicare and Medicaid Services (CMS) announced the creation of a new Medicare Diabetes Prevention Program (MDPP) benefit to begin on January 1, 2018. Just late last year (2015), Solera secured $3M in series A funding and last June (2016), $4M more. Keep your eyes on this preventive health company whose technology creates a marketplace that connects the 86 million U.S. adults at risk for type 2 diabetes.
5. Synchronous Health, Inc.
A brand new Nashville-based start-up as of mid 2016, Synchronous Health approaches behavioral change with the help of ground-breaking technology. Synchronous Health calculates that there is only one (1) health provider for nearly 200 people who need mental health services. To solve this challenge, they are reinventing behavioral health care by utilizing artificial intelligence (AI) for data analysis and predictive analytics to predict when a client will need support, rather than waiting for their next appointment. By combining AI (affectionately named “Karla™” – hat’s off to Carl Jung) with human compassion they are set to improve health by monitoring Bio-psychosocial patterns allowing for early intervention. Check out the Venture Nashville Connections article about how they are out to disrupt population behavioral healthcare as they plan to raise $1.2M in capital by the end of this year with $3M projected for 2017.
6. Thrive Global
Arianna Huffington, well-known for her successful online news aggregator, Huffington Post, is entering the wellness space. After sharing her experiences in her book: “Thrive: The Third Metric to Redefining Success and Creating a Life of Well-Being, Wisdom, and Wonder” and research in “The Sleep Revolution: Transforming Your Life, One Night at a Time” – she is set to launch her new company: “Thrive Global” later this year. Based out of New York, as a corporate and consumer productivity platform, Thrive Global will offer corporate workshops and certifications as well as consumer products, live events, a website, apps and a management consultancy that helps workforces get healthier. Securing $7M in series A funding mid-2016 we’ll be watching this company and its impact in the wellness industry.
Sanofi and Verily Life Sciences LLC, (formerly Google Life Sciences) are teaming-up to launch Onduo, a comprehensive diabetes management platform. The Massachusetts-based company will leverage Verily’s experience in miniaturized electronics, analytics, and consumer software development, and Sanofi’s clinical expertise and experience in bringing innovative treatments to better people’s lives with type 1 and type 2 diabetes. With $500M backing from Google, we can’t wait to see what Onduo will do.
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Brandy Oliver is a Health, Technology and Well-being expert with a passion for product innovation and helping others. She has partnered with individuals and corporations to solve challenges in work and life for over 20 years. Brandy resides in Tampa Bay, Florida with her husband, dog and cat. Visit BrandyOliver.com to learn more and subscribe to her youtube channel.
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