BoxWorks SuperSession: “The Future of Healthcare and the Cloud”


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While healthcare has been one of the last industries to go digital, some argue that it is now hitting an inflection point for technology innovation. Patients are accessing healthcare online and through smartphone apps while doctors and hospitals are using software to update medical records in real-time. The Federal government is even putting some muscle into this transformation by spending close to $29 billion in incentives to get providers to digitalize healthcare records. Moving data online opens up all kinds of opportunities for cloud and content collaboration in medicine. How will the digitalization of healthcare lead to more light weight solutions that are cloud based? Once data is digitalized, how can it be shared faster and more efficiently along the care continuum? Hear from Glen Tullman, former CEO of Allscripts (NASDAQ: MDRX), a leading provider of electronic health records to doctor practices and hospitals. One of the largest companies in the healthcare digital space, Glen joined the Allscripts in 1997 and created a whole new market in healthcare technology. He took the company public and grew revenues to $1.4 billion with over a 180,000 physician customers in 50,00 practices across the U.S. and 1,500 hospitals accounts. The scale of Allscripts client base enables them to connect providers and patients wherever care is delivered - in the cloud and using unique software solutions.

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BoxWorks SuperSession: “The Future of Healthcare and the Cloud”

  1. 1. BoxWorks SuperSession: “The Future of Healthcare and the Cloud” Glen Tullman, former CEO, Allscripts, Founding Partner, 7WireVentures Missy Krasner, Strategic Advisor to Box, Healthcare & LifeSciences Some background stats: AllScripts was at 500M eRx’s/yr when Glen departed the company in December 2012. The company serves 180,000 MDs, 50k practices, 1.5k hospitals, and 10k post-acute care orgs The average PCP exchanges paper files with 274 other MD’s each year There are now 10k healthcare apps in the Apple app store Fundamental problems with EHRs: they tell you what you told them but don’t tell you what to do with it Enterprise software in healthcare was developed from the orientation of billing and the need to get paid: 1. Billing/electronic data capture 2. E-prescribing 3. Practice management 4. EMRs 5. EHRs Adoption of EMRs to date (per CMS stats): 55% of MDs and 80% of hospitals have received payments from the HITECH act. This represents 291,325 physicians and 3,800 hospitals. Most adoption in cloud has been in: 1. Infrastructure, storage and app development 2. Image archiving 3. Revenue cycle management Expecting a shift to open platforms with APIs for third party ecosystem expansion 1. Monetize platform partners 2. Expand into adjacent systems About 7WireVentures: Priorities are mobile, connected & cloud, software supported services, and care coordination (especially around handoffs). 5 investments to date. None in Google Glass, but looking. Two 7Wire portfolio companies mentioned: 1. EOS (diabetes chronic disease mgmt) 2. WiserTogether (What did other people like me do? What did physicians do?)  Crowd/social collaboration Investment thesis: Drives engagement and satisfaction. Lowers costs.