Mirror MD - Startup Weekend Pittsburgh 2013

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Mirror MD - Startup Weekend Pittsburgh 2013

  1. 1. Peter Dausman Dillan DiNardo Karen Tang Rohan Singh Karli Mather
  2. 2. $26.2 Billion
  3. 3. $26.2 Billion per year
  4. 4. The Reality of Readmissions Hospital readmission costs: $26 billion /yr
  5. 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. 6. Why Readmissions Are Costly
  7. 7. Why Readmissions Are Costly Patients may not remember symptoms from their last visit
  8. 8. End-Result of Readmissions Less impactful patient visits Limited or failed recovery
  9. 9. End-Result of Readmissions Less impactful patient visits Limited or failed recovery  Higher costs of readmission
  10. 10. What Are Others Doing?
  11. 11. Our Value Propositions End goal: lower readmission rates How?
  12. 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. 13. Our Solution: Mirror MD Psychiatrists work with patients to determine what’s most useful and effective to record
  14. 14. Our Solution: Mirror MD Allows patients to self-report data between appointments
  15. 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. 16. Our Solution: Mirror MD The psychiatrist’s staff can also respond to patient data between appointments
  17. 17. Our Solution: Mirror MD In seconds, just before seeing the patient, the psychiatrist can view the patients dashboard.
  18. 18. Proof of Concept
  19. 19. Customer Validation By 2017, 1.7 billion people will be using mobile health apps4
  20. 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. 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. 22. Customer Validation Dana Henry, MS, LPC, Sewickley, PA
  23. 23. Other Applications & Considerations Secure data channel to medical provider – avoid HIPPA pitfalls
  24. 24. Other Applications & Considerations Secure data channel to medical provider – avoid HIPPA pitfalls Option of making dashboard visible to family support network
  25. 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. 26. Impact of Using Mirror MD $39.3 Billion
  27. 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. 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/

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