Mirror MD - Startup Weekend Pittsburgh 2013
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  • 1. Peter Dausman Dillan DiNardo Karen Tang Rohan Singh Karli Mather
  • 2. $26.2 Billion
  • 3. $26.2 Billion per year
  • 4. The Reality of Readmissions Hospital readmission costs: $26 billion /yr
  • 5. The Reality of Readmissions Hospital readmission costs: $26 billion /yr 37% of mentally ill patients re-admit within 1 year, much higher than industry avg of 27%
  • 6. Why Readmissions Are Costly
  • 7. Why Readmissions Are Costly Patients may not remember symptoms from their last visit
  • 8. End-Result of Readmissions Less impactful patient visits Limited or failed recovery
  • 9. End-Result of Readmissions Less impactful patient visits Limited or failed recovery  Higher costs of readmission
  • 10. What Are Others Doing?
  • 11. Our Value Propositions End goal: lower readmission rates How?
  • 12. Our Value Propositions End goal: lower readmission rates How? With Mirror MD: a unique app that boosts patient-doctor communication through transparent data sharing
  • 13. Our Solution: Mirror MD Psychiatrists work with patients to determine what’s most useful and effective to record
  • 14. Our Solution: Mirror MD Allows patients to self-report data between appointments
  • 15. Our Solution: Mirror MD Allows data to be viewed on a web-based dashboard, accessible to the patient, the psychiatrist, and his staff
  • 16. Our Solution: Mirror MD The psychiatrist’s staff can also respond to patient data between appointments
  • 17. Our Solution: Mirror MD In seconds, just before seeing the patient, the psychiatrist can view the patients dashboard.
  • 18. Proof of Concept
  • 19. Customer Validation By 2017, 1.7 billion people will be using mobile health apps4
  • 20. Customer Validation Lynn Brusco, Executive Director at Disruptive Health Technology Institute, Carnegie Mellon University, on Mirror MD: “In the future of health care, patients, traditionally passive in their care, will have a new role as an engaged part of the solution. An app that allows patients to be proactive, arms the physician with accurate, real-time information and makes the continuum of care more affordable can be a game changer."
  • 21. Customer Validation Ingrid Gindin, Certified Psychiatrist, on Mirror MD: “I think its is a great concept. There are some apps out there but I haven’t found anything that people wanted to use. If you can come up with an app that is easy to use, I would definitely see the value in using this program.”
  • 22. Customer Validation Dana Henry, MS, LPC, Sewickley, PA
  • 23. Other Applications & Considerations Secure data channel to medical provider – avoid HIPPA pitfalls
  • 24. Other Applications & Considerations Secure data channel to medical provider – avoid HIPPA pitfalls Option of making dashboard visible to family support network
  • 25. Other Applications & Considerations Secure data channel to medical provider – avoid HIPPA pitfalls Option of making dashboard visible to family support network Can be used for other medical practices outside of the psychiatry market in the future
  • 26. Impact of Using Mirror MD $39.3 Billion
  • 27. Customer Insurance companies Value Proposition Reduced readmissions = reduced costs Distribution Channels Get doctors and healthcare executives to want the system Roll-out Strategy Leverage current contacts for beta testing, then expand to local health providers. In parallel build strategic alliances with local insurance providers. Key Activities Development sales/marketing Deployment Software maintenance Revenue Stream Monthly payments from Key Partners Doctors Key Resources Tech & sales talent Secure data channels Cost Structure Salaries Secure data channels Storage/infrastructure
  • 28. Sources • Langewitz W, Denz M, Keller A, Kiss A, Rüttimann S, Wössmer B. Spontaneous talking time at start of consultation in outpatient clinic: cohort study. BMJ 2002; 325: 682-683. http://www.bmj.com/rapidresponse/2011/10/29/listening-patients-how-much-time-will-they-spendtalking-about-their-initi • NY Times. http://economix.blogs.nytimes.com/2008/11/14/do-doctorssalaries-drive-up-health-care-costs/ • PNHP.org. http://pnhp.org/blog/2012/06/13/2012-health-care-spendingincluding-administration/ • Forbes. http://www.forbes.com/sites/ciocentral/2013/09/08/will-an-appa-day-keep-the-doctor-away-the-coming-health-revolution/