January’s event was full of transitions and excitement as Mary Anne Rooke, the new Executive Director of CVG, dove head first into the execution of a successful first meet-up. Unlike previous monthly events, the Healthcare IT meet-up featured a new program structured around a re-organized pitching segment called the Pitch Pit!
The Pitch Pit:
Three successful growth companies were selected to present in front of a panel of highly experienced investors and live audience. Each company was given five minutes to pitch and then allotted five more minutes for Q&A with the audience and feedback from the investor panel. Investors also used a Connecticut-based web tool called Test My Pitch in order to give detailed remarks and advice to each of the presenting companies. Audience members filled out physical comment cards which were later distributed to the presenters. The following companies presented in the pit:
- Bioarray Therapeutics – Presented by Marcia Fournier. Bioarray is tackling the problem associated with the large number of patients unresponsive to taxane chemotherapy. According to Bioarray roughly 75% of patients who take taxane, the first line of therapy, do not respond to the drug. Instead then, of sending patients through a cumbersome and exhausting trial and error of other drugs in line Bioarray aims to halt therapy that will not work for these patients, before they even start. According to Bioarray, clinical studies can classify non-responders upfront, and therefore increase the rate of improvement by 68%. Bioarray is not quiet ready for commercialization but are expecting to launch within the next two years.
- Diameter Health – Presented by Eric Rosow. Diameter Health is in the business of digitization and standardization of medical data with financial incentives. They aim to bring scalable, cost-effective medical apps to market that will transform healthcare through clinical intelligence. One platform with multiple solutions, integrated for those involved in the healthcare space.
- Inbox Health – Presented by Black Walker. Inbox Health was inspired by the simple fact that “Nobody knows the price of healthcare services,” all stemming from mysterious pricing, inconsistent reimbursements, illusive affordability, complex benefit packages. The direct result of the confusion surrounding healthcare costs leaves patients scrounging for money and doctors unpaid. Inbox Health aims to revolutionize the transaction process associated with healthcare. With a mind to make collecting payment and distributing bills seamless for the physician and submitting payments easier for the patient, Inbox Health intends to be the next major app to drive the financial side of healthcare.
Immediately following the Pitch Pit keynote speaker Allen DeGraw, CEO and Founder of Post-n-Track, took to the podium to discuss the impacts of IT has on the healthcare industry. As many would guess, Allen noted that the healthcare industry is a great place to be right now, and according to him some of the major drivers in healthcare are cost optimization, competition, reform and consumerism. As far as trends go, big data, the cloud, and mobile applications are among some of the top leading trends in the industry – all tech related. That being said, Allen touched upon some of the greatest areas for market growth and investment, some of them being business intelligence and anayltics, systems management, database, and business applications. Of course, even as IT and healthcare become closely linked and changes in the industry become more apparent and accepted, some of the biggest unsolved problems still include cost and quality of systems.
Thank you again to Mary Anne Rooke for helping us plan and execute a successful Second Thursday Presentation!
Congratulations to Gerald Michaud, President of Horizon Technology Finance, winner of this month’s “Ticket for Two” Innovation Summit giveaway! You can win tickets at the next CVG meet-up event by dropping your business card in the raffle box!