HealthFinch is a startup based out of Madison, WI/Chicago, IL. We are looking to change the healthcare using the medical app. This is our presentation. Want to chat about HealthFinch some more? founders at healthfinch.com

2. “Many healthcare systems use
enterprise systems customized to
fit the needs of the particular
provider....[and don’t] provide an
open and robust platform for
software developers to build
applications to improve data entry
processes, provide decision
support, or other functionality.”
President's Council of Advisors on
Science and Technology Report
BUSINESS OVERVIEW

3. “...We conclude that achievement of the
President’s goals requires significantly
accelerated progress toward the robust
exchange of health information.”
President's Council of Advisors on
Science and Technology Report
BUSINESS OVERVIEW

4. The future of HIT is
modular.
BUSINESS OVERVIEW

5. We make medical
apps.
BUSINESS OVERVIEW

6. How big can a single
medical app become?
Epocrates
$500M
Market cap (as of 5/16/2011)
BUSINESS OVERVIEW

7. The HealthFinch
Partners
THE TEAM

8. Lyle Berkowitz, MD
The “Change Doctor”
Practices Internal Medicine
Healthcare Informatics Expert
Director, Szollosi Innovation Program
CMIO Northwestern Memorial
Associate Professor, Northwestern
Author
Speaker
Held numerous CMO Positions
“Twenty People Who Make Healthcare Better”
“Future Health Top 100”
“Top 50 Healthcare IT Blogs”

9. Ash Gupta, Developer
BusinessWeek’s Top Entrepreneurs under 25
Co-founded and sold previous startup, InZum

10. Jonathan Baran, MS, Designer/Developer
PhD dropout (researching the design of modular Health IT technology)
$10K Recipient of the CIMIT Prize for Primary Care (for innovative
solutions to problems in primary care)

12. “A frequent complaint is that electronic
health records do not make the
physician’s job easier.”
President's Council of Advisors on
Science and Technology Report
THE PROBLEM

13. Many physicians are struggling
to keep up with administrative
tasks given to them.
THE PROBLEM

14. Case in point, prescription
refills requests...
THE PROBLEM

15. Med Refill Message
Patient Message - Create Phone Encounter
SOURCE: [ x ] Phone [ ] VM [ ] RelayHealth
FROM: [ ] Patient [ ] Mother [ ] Father [ ] Pharmacy
Other: daughter
CONTACT INFO
Patient Phone:
Other Contact Info: daughter xxx
[ ] Do NOT leave message in voice mail
[ ] Only call patient during special time (please specify):
**** Pt told to expect response within 1 business day unless otherwise noted:
[ ] Today [ ] Other:
PHARMACY INFO
Name/Phone: Walgreens xxx
APPOINTMENT INFO
LAST Appt with Prescriber:
NEXT Appt with Prescriber:
Other Relevant Appointment Info:
For OB Call Center Use Only
[ ] Patient is pregnant, EDC :
*********************************************************************************
MEDICATION INFORMATION
Name and Dosage Quantity Other Information
----------------------------------------------------------
1. ZOCOR 20MG 1 A DAY
2.
3.
THE PROBLEM

16. You decide:
Refill or not?
THE PROBLEM

17. Physicians do this
over 50
times...per day!
THE PROBLEM

18. We make the lives of
clinicians easier
THE SOLUTION

19. with workflow tools.
THE SOLUTION

20. THE SOLUTION

21. RefillWizard provides smart predictions
for refill requests based on a
physician’s custom protocols.
THE SOLUTION

22. The Screenshots.
THE SOLUTION

23. THE SOLUTION

24. THE SOLUTION

25. These predictions can:
1) Better prepare messages for the doc
2) Allow for task-shifting (e.g. standing
protocols which can be carried out by
lower level staff instead of involving the
physician)
THE SOLUTION

26. What do docs think
about this idea?
THE SOLUTION

27. Early April we started
testing RefillWizard...
THE SOLUTION

28. We showed them this.
THE SOLUTION

29. They were sold.
50% of the
participants wanted to
be beta customers.
THE SOLUTION

30. Let’s make some money!
Free $19/month $49/month
One MD One MD Up to 3 MDs
All protocols All protocols All protocols
Custom protocols Custom protocols Custom protocols
Shared receptionists Shared receptionists Shared receptionists
BUSINESS MODEL

31. Why is this model going
to work?
Physicians love
control.
BUSINESS MODEL

32. Enterprise value proposition
Making life easier
+ Increasing
compliance with
existing protocols.
BUSINESS MODEL

33. The more interesting sales
channels...
BUSINESS MODEL

34. The big money...
Enterprise pricing
Protocol creation consulting
EMR Integration
BUSINESS MODEL

35. The Competition
THE COMPETITION

36. Impact on Quality The breakdown of current HIT tools
(Physician workflow tools
such as RefillWizard)
Impact on Efficiency
THE COMPETITION

37. Why are we better?
They have slower development cycles.
THE MILESTONES
COMPETITION

38. Why are we better?
They don’t think like us.
THE MILESTONES
COMPETITION

39. Why are we better?
We leverage the cloud.
THE MILESTONES
COMPETITION

40. Why are we better?
There is a land rush* for the
EMR market.
*In order to take part in the
gov’t sponsored land rush
vendors must comply with over
250 pages of software specs
and customer demands.
They are busy with “meaningful use”.
THE MILESTONES
COMPETITION

41. Why are we better?
Physicians “liked” paper records.
Life was easy.
Legacy vendors made the
transition and caused lots of
problems along the way.
Will physicians buy from these
same vendors again?
Physicians don’t like them.
THE MILESTONES
COMPETITION

42. Where do we go from
here?
THE MILESTONES

43. The Alpha Launch
(Through the first of June 2011)
Product
Testing onsite @ Northwestern Memorial with Dr. Berkowitz
No custom protocols (paid option)
Team - Three founders
Marketing
Reach out to potential beta customers,
Submit application to the SMART App
Challenge
THE MILESTONES

44. The Beta Launch
(Private Beta through July)
Product
Testing onsite @ two Chicago-area hospitals
Fully functioning application
Team - Three founders + two full-time developers
Marketing
Leverage the private beta to
generate interest
High profile beta testers, AMDIS
Group, Major HIT Blogs
THE MILESTONES

45. Public Launch and Beyond
(End of summer 2011)
Product
Fully functioning application
Team - Three founders + three full-time developers
Marketing
Leverage interest from beta, Reach out to all major blogs
(promotions for specific blogs), Talks with potential
partners, SBIR Funding
THE MILESTONES

46. Since August of 2009,
cumulative burn of ~$10,000.
(Dr. Berkowitz added February 2011)
FINANCING

47. We have survived through small grants and
bootstrapping.
FINANCING

48. What if we had rocket fuel?
RefillWizard, Refined
Integration
EMR, Re-imagined
FINANCING

49. This is just the
beginning.
THE FUTURE

50. ResultsWizard NoteWizard
Help MDs and staff deal A better, faster way to
with results (lab/imaging) complete clinical notes
The engine built for RefillWizard
can be used in other contexts
CareWizard MessageWizard
Find at risk patients in Helps MDs and their staff
populations deal with messages
THE FUTURE

51. and brought into a single,
unified experience for the
clinician.
THE FUTURE

52. Unleashing the power of the
electronic medical record.
THE FUTURE

53. Help us fix healthcare.
Join us now.
founders@healthfinch.com