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Poctor pitch v5
Poctor is developing the Poctor Secure Network (PSN), a geographically distributed cloud hosting platform designed specifically for healthcare organizations. The PSN allows sensitive patient data to be securely stored, accessed, and shared across state lines in compliance with HIPAA. Poctor sees significant market potential as healthcare spending grows and organizations need secure data transmission solutions. The company projects strong financial growth by licensing the PSN to healthcare clients and other industries requiring secure interstate data transport such as financial services.
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Poctor pitch v5
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- 2. Poctor Vision The PoctorSecure Network (PSN) is a geographically distributed, healthcare cloud-hosting platform. “Poctor is HIPAA secure, distributed AWS for healthcare organizations and their patients.”
- 3. The Team Co-Founder andPresident - Tom Capozza M.D., >18 yrs experience in the healthcare industry, practicing physician board certified in Gastroenterology and Hepatology, senior partner at PrimaCARE, P.C. Co-Founder and Developer - Mike Plasse, >20 yrs experience in health information technology, a self-taught freelance consultant in website development, has been creating applications since 1999 Security and Encryption Advisor - Todd Cooper, >30 yrs experience in security and encryption including Gen Dynamics, MIT/Lincoln Labs, Cisco, Cobham Defense, iRobot, Intuit and Harvard University Business Development Advisor - Geoff Grzywinski, >20 yrs experience in management, including former President & COO, Go Green Global Technologies Corp., Former IT Director & Executive Analyst, Reflexite Corp. Product and Technology Advisor - Jason Farrell, >16 years of experience in project and product management/development, Senior Technology Consultant and Project Manager at Advent Software
- 4. Poctor Milestones/Traction 2013:Poctor Inc. founded and incorporated in DE -- bootstrap development of P2P app, operating system (mOS) and network prototype 6/2014: Two patents filed for Poctor network and app architecture 9/2014: Poctor trademarked and alpha test commenced with PrimaCARE GI 3/2015: Poctor network architecture with RI/MA and virtual servers complete 4/2015: Third patent filed “continuation in part” Poctor network architecture 8/2015: Poctor network and operating system certified by NCS 8/2016: Final submission for patents to U.S. PTO with legal team
- 5. Market Opportunity In2016, the U.S. is projected to spend >$4.0T on healthcare By 2020, the global mobile health (mHealth) market will exceed >$49B All HIPAA compliant communication options available today need a secure network to serve their customers (1.1 million medical providers and 242 million adult patients in the U.S.)
- 6. Communication and Securityare a Problem Data security remains the single largest deterrent to mobile transmission of sensitive patient health information The Joint Commission: poor communication is the second leading cause of sentinel events in healthcare Outdated communications systems cost hospitals $8.3 billion annually in lost productivity Over 80% of physicians admit to texting patient health information to colleagues in violation of HIPAA mandates
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- 8. Revenue Model Poctorcan derive considerable revenue from licensed access to the PSN, allowing companies to utilize our infrastructure to host their web and distributed data applications Freemium model for medical organizations that choose to use our Poctor P2P messaging app, hosted on the PSN
- 9. Marketing and Growth Strategic partnerships (i.e. secure messaging providers, telemedicine providers, large healthcare or insurance organizations, and medical schools) Annual medical conventions, medical websites and on-line journals Vertical potential: licensing of the Poctor Secure Network to any industry that requires secure data transportation (virtual currency, i-gaming, financial industry)
- 10. Financial Projections (in millionsof U.S. dollars)
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- 12. Competition Poctor advantage: our proprietarynetwork specifically designed for security, dynamic geographic transport, and HIPAA compliance
- 13. The PSN Advantage Poctor’s distributed server configuration and network architecture form a one-of-a-kind solution Best-of-Breed solution – once established nationwide, the PSN can be leveraged to transport sensitive data for any industry with interstate business Poctor’s unique routing of data, tagging of information and layered encryption provide a new healthcare industry standard
- 14. Thank You For moreinformation visit us at poctor.com Poctor Secure Network (PSN) is a geographically distributed, dynamic data-centric platform. PSN allows an organization to store and interact with sensitive data at it’s point of origin and need. PSN can seamlessly manage data based on state-to- state and federal privacy laws without the risk of unintentionally breaking either state or federal mandates.
Editor's Notes
- #3 By delivering a HIPAA compliant solution on our proprietary network, Poctor will improve doctor-patient relationships and save healthcare organizations millions of dollars Our message to providers: “Get back to the business of healthcare and let Poctor provide the security and the network you need, so you can focus on what matters most... patients.” We have gone beyond HIPAA standards by creating an architecture that will support federal and state mandates pertaining to the use, collection, and disclosure of medical information in the present and for the future. Transform the healthcare data management space into a secure, accessible architecture that provides real time data when professionals need it
- #4 Thomas Capozza M.D., President Company co-founder and physician with over 18 years of experience in healthcare, he served 10 years in the United States Navy with leadership positions managing and training physicians. He is now a senior partner and consultant at PrimaCARE P.C. a large multi-specialty medical practice in southeastern Massachusetts. Michael Plasse, Product and Technology Manager Company co-founder with 20 years of experience working in the health information technology arena. He is a self-taught freelance consultant in website development and has been creating applications since 1999. Todd Cooper, Encryption and Security Advisor Security and encryption consultant with 30 years of experience in the computer science industry. He has held senior technology positions at Cisco, Cobham Defense, iRobot, Intuit, and Harvard University. He was senior software engineer for General Dynamics and MIT/Lincoln Labs where he held DoD secret clearance. Geoff Grzywinski, Finance and Business Advisor Entrepreneurial corporate development consultant and business leader with 20 years of broad management experience including Strategic Planning, Financial Analysis, Operations, Engineering, Quality Information Systems, Marketing, and Product Development in a range of technology manufacturing industries, including both startups and established companies. Former President & COO, Go Green Global Technologies Corp. Former IT Director & Executive Analyst, Reflexite Corp. Jason Farrell, Product and Technology Advisor Technology advisor with over 16 years of experience in project and product management/development, as well as software architecture in the finance and healthcare sectors. Previously, he was the Director of Research and Development at Capital Systems in New York City. His current position at Advent Software includes Senior Technology Consultant and Senior Project Manager.
- #5 Two patent applications in June 2014 entitled “System and Method for Securely Managing Medical Interactions” (application numbers 14/316,980 and 14/316,984 with docket numbers P2078-700019 and P2078-700119 respectively. Application # 14/316,980 has Track 1 designation. Third patent filed April 2015 as “Continuation in Part” (CIP) P2078-70330 expanding on 14/316,984 Poctor is also a registered trademark of Poctor, Inc. (September 2014/ serial number 86244008).
- #6 the global mHealth market will continue to make a mark in a serious way, with the industry poised to exceed $49.1 billion by 2020, according to a new market report (San Francisco-based market analysis and consulting firm Grand View Research)-- monitoring services are projected to remain the dominant and most rapidly growing market segment, with revenue topping $1.2 billion in 2012, and seeing a nearly 50 percent CAGR from 2014 to 2020. Investors pumped a record $6.5 billion into digital health ventures during 2014, an increase of 125 percent from the 2013 level, according to StartUp Health's annual report. The U.S. healthcare industry market for secure data management of electronic patient health information will approach 100% by 2015-2017 due to enforcement of existing HIPAA regulations and advent of Meaningful Use There are over 870,000 physicians, over 180,000 nurse practitioners and 77,000 physician assistants registered in the U.S. And there are 242 Million adult (age >18) patients in the U.S. Hospitals, physician offices, and insurance companies have “silos” of medical data that live within different EMRs and are not accessible to all medical professionals that need to make real-time, life and death decisions. eMarketer estimated that 79 percent of internet users will access the internet through their mobile phone in 2014 Beyond the rapid pace of innovation in the cloud, the CIOs may have particular concerns about compliance – such as within what geographic jurisdiction sensitive data resides CIOs may find that rather than do-it-yourself, they’d sacrifice some savings in exchange for more handholding Implementation partners that can offer a "white glove” service have an advantage in today’s segmented cloud IaaS marketplace.
- #7 “Deficiencies in communications lengthen patient discharge time, which currently averages about 101 minutes. 65% of survey respondents believe that secure text messaging can cut discharge time by 50 minutes, which could generate more than $3.1 billion in revenue per year across the healthcare industry.”— Ponemon Institute, 2013 Hospital based providers waste an average of 35 minutes per shift in workflows such as admissions, transfers, and emergency response coordination. These time wastages are due to the inefficient communication problems of pagers. Such wastage translates into an annual loss of about $1.75 million per U.S. hospital and more than $11 billion, industry-wide. – Ponemon Institute, 2013 - HIPAA compliance has always been required but now is being enforced by OCR HHS “Wall of Shame” through 2014: 720 organizations/167 BA’s with HIPAA PHI data breaches; 27.8 million patient records total (12.9 million from BAs) 2015: Anthem (80 million) and Premara Blue Cross (11 million)
- #8 After the directory server authenticates a user on the Poctor network, the user is provided a URL to a specific local server based on his/her registered location. All future communication for that user/session combination will be routed through, and stored on, that local server. Data use, logging, and expiration can be managed at that local server level, to comply with local and state mandates. Encryption and Message Routing Data in transit and at rest is fully encrypted. Passwords are salted/hashed making unauthorized retrieval virtually impossible. Server to server communication takes place inside a secure, site-to-site virtual private network (VPN). Data transport between servers is further encrypted along SSH. The “Handshake” (Step 1) During the initial “handshake”, the client device (tablet, desktop/laptop, or smartphone) is authenticated against the Poctor directory server over a 256-bit SSL connection. The directory server authenticates, and provides the URL of the state server needed for this client. Inside the private site-to-site VPN, the directory server also updates the appropriate state server to prepare for messages from this client. Session Communication (Step 2) After the “handshake”, the client communicates directly with the state server, over SSL. Data is stored on an encrypted database, on the appropriate state server. Differing state laws and control of ePHI as potential future and use HIPAA rule citations as reference: Section 160.201 of the HIPAA Omnibus Rule Section 264(c) of the HIPAA Privacy Rule Section 13421(a) of the HITECH Act Section 1178 of the Social Security Act ...concerned with the lack of uniform Federal and State privacy laws, we note that the preemption provisions of the HIPAA Rules are based on section 1178 of the Social Security Act and section 264(c)(2) of HIPAA. Through these statutory provisions, Congress made clear that the HIPAA privacy requirements are to supersede only contrary provisions of State law, and not even in all such cases, such as where the provision of State law provides more stringent privacy protections than the HIPAA Privacy Rule. Accordingly, the HIPAA Privacy Rule provides a Federal floor of privacy protections, with States free to impose more stringent privacy protections should they deem appropriate. From BitGlass: 1. Secure Data, not Devices By securing sensitive data as it flows down to end-user devices, healthcare organizations ensure that even if the device is lost or stolen, sensitive data is not compromised. Technologies such as on-the-fly encryption, redaction, DLP and DRM on sensitive data must be dynamically and automatically applied 2. Make Data Security a User-Friendly Experience Mobility enables healthcare workers to spend more time on their patients. Any solution that hinders productivity is bound to attract workarounds that defeat security policies. In
- #10 -“Moore’s Law on Sharing” "It's sort of a social-networking version of Moore's Law,” -- Zuckerberg Examples of strategic partners: Doximity, State Medical Societies, very large medical organizations (ie Partners, Steward, Lifespan in MA/RI) - Target medical schools with free Poctor P2P to medical students during 3-4th yrs training (approx. 12,000/yr total) and target residency training programs with deeply discounted group rates for residents (approx. 110,000/yr total)
- #11 Revenues -Target market includes U.S. based non-govt./trainee medical professionals. Includes >878K registered MD/DOs, >180K NPs and >77K PAs (source: U.S. Census Bureau, Population Division, 2012)– approx. 78% of providers are non-govt/trainee workers. -Customer acquisition rate among Medical Professionals segment increases from 0.5% to 8%, doubling annually from 2016 to 2020. -Patient utilization rates increase from 40% in year 1 to 60% in year 5, consistent with current 3rd party market research (source: Understanding Determinants of Consumer Mobile Health Usage Intentions, Assimilation, and Channel Preferences. Journal of Medical Internet Research. 2013;15(8):e149 Capital Expense Projections assume a 5-year build-out of our patent-pending Secure Geographically Aligned Data Management Network in order to minimize CAPEX needs in year 1. In subsequent years, profits are reinvested in additional hardware to complete the network build-out in a 3-phase approach: Phase 1: Initial use of Poctor’s existing dedicated server for regional initial customer base in Mass./RI, with virtualized servers for other states. Phase 2: Roll-out of dedicated hosted servers and co-located physical servers to expand network presence across 50 States. Phase 3: Complete build-out with implementation of co-located physical servers (customized OEM servers and custom-built Poctor designed units) in all 50 States.
- #12 Our solution provides three distinct advantages – our core focus on patient communication, option for secure content sharing with outside providers and our proprietary distributed network, specifically designed for healthcare and HIPAA security. Whereas our competition uses standard security measures and commercial cloud technology not designed with HIPAA in mind, our unique routing of data, tagging of information and layered encryption provide a new healthcare industry standard. Our P2P mobile and web applications not only allow providers to communicate with their colleagues from all mobile and desktop platforms, but they also allow patients to communicate with their providers in a reciprocal fashion. Poctor’s geographically distributed network of HIPAA secure servers allow us to dynamically manage electronic protected health information (ePHI) based on evolving federal and individual state mandates. The geographically distributed architecture allows us to dynamically manage our resources (servers/storage/bandwidth) more efficiently based upon regional utilization or need. Potential Customers: TigerText, Imprivata, Spok, PerfectServe, qLiqSoft, DocBookMD, DocHalo, PingMD, Cureatr, SafeTextMD, Medigram
- #13 -Poctor can derive sizeable revenues from licensed access to its patent pending secure network -Specifically, we have a significant value proposition to offer competitive cloud-based messaging app providers, whereby the combination of their already-developed software operating over our proprietary network could represent a true best-of-breed solution in the industry, resulting in a significant competitive advantage for one of the established players in the space. Once established nationwide, Poctor’s network can be leveraged to manage and store data for anyone requiring secure HIPAA compliant networking. Several companies have already brought HIPAA-compliant secure messaging solutions to market and have amassed a sizeable customer base in recent years. None, however, offers the same comprehensive and complete solution to secure handling of ePHI as Poctor. Poctor’s distinctive approach to routing of data, tagging of information, and layered encryption usage will represent a new industry standard, and will deliver a level of operability and security that is unmatched in the healthcare industry.
- #14 -Poctor can derive sizeable revenues from licensed access to its patent pending secure network -Specifically, we have a significant value proposition to offer competitive cloud-based messaging app providers, whereby the combination of their already-developed software operating over our proprietary network could represent a true best-of-breed solution in the industry, resulting in a significant competitive advantage for one of the established players in the space.
- #15 Our message to providers: “Get back to the business of healthcare and let Poctor provide the security and the network you need, so you can focus on what matters most... patients.” Cybercurrency exchange (ie Bitcoin), Gaming industry, Financial industry, Insurance industry