New York is making a major push to become a hub for Digital Health innovation. As part of that effort, Milestone Venture Partners is investing in the New York Digital Health Accelerator. Six venture capital firms, two large health plans, and 20 NY-based provider organizations are participating. The deadline to apply is June 1, 2012. Twelve companies will be selected. Each selected company will receive up to $300,000 of capital: $100,000 at the start of the program, and an additional $200,000 at the four-month checkpoint if the company meets predefined milestones set by the venture capital and provider organization participants. Capital provided will be structured as a note convertible into the next round with modest warrant coverage.
Please help me spread the word and feel free to let us know who might be interested.
The program is looking for early and growth-stage companies where access to clinical and technical feedback from provider organizations could have a meaningful impact on the company’s development prospects. At a minimum, the company should have a beta version of its technology. The application is open to any company, although the company must have a New York presence, at least for the duration of the program (approximately nine months). Pharmaceutical, biotech, surgical medical device, and diagnostic companies do not qualify for the program.
Products and technologies focused on four focus areas are invited to apply:
- Collaborative care solutions that reflect the continuum of information on a patient and support team based care, management of patients by risk category, secure messaging, and transitions of care.
- Retrospective and predictive analyses related to care coordination, quality management, and decision support. Tools capable of identifying high risk patients and notifying patients of follow-up care appointments, based on standard criteria for risk. Analytic capabilities that take into account both quality and financial measures to adequately identify risk. Statistical tools related to quality improvement and public health reporting.
- Alert tools that provide a secure and standardized messaging environment for accurate communication and information exchange between transferring and receiving provider.
- Clinical decision support including point-of-care alerts indicating transitions in care settings, hospitalizations, medication changes, discharges, non-medical referrals, other medical changes to care plan.
- Personal health management solutions that facilitate better healthcare decisions, and help improve communication on care management between the provider and the patient and/or family members. Patient engagement tools need to span the possibilities of innovation and present a wide range of options that allow for easy access by patients.
- Examples of innovations in this focus area include but are not limited to telehealth, consent management, patient portals, personal health records, medication adherence, caregiver tools, appointment scheduling, tools that facilitate self-management and capture health risk behaviors, preventive care elements, community resources, health and wellness tools, patient understandable lab results, etc.
Thank you for your help, Todd Pietri