Wellth allows providers to directly impact quality metrics they are paid on and optimizes the value of care
WINNER: Third Place Prize: Wellth
We were originally inspired by the shift in our healthcare system from fee-for-service towards value and quality based care. We were very excited about the prospect of more aligned incentives driving greater efficiency in the system and realized that new tools would be required to support providers and payors under this new paradigm. As tech geeks, we have always been interested in the potential for healthcare to be disrupted by new technologies and business models. However, when we reviewed the digital health landscape, we were disappointed by the fact that the majority of the startups seemed to be developing for people like themselves, that is, upper middle class males in their 20s and 30s.
From the beginning, we have known that in order to make the biggest impact to the value of healthcare, we need to focus on the highest cost patients with chronic diseases and co-morbidities. These patients tend to fall under a demographic that is not as tech savvy as the millennial set. We are proud that we have always focused on UI and UX that passes the “mother test” (if my mom can’t figure out how to use it without any coaching, we need to go back to the drawing board). Our target users are people exactly like Mary. These are the patients that need the most help. These are the patients that need the most resources, tools, and attention. As a nice bonus, behavior change in these high cost patients can also produce the biggest value and quality changes in our healthcare system.
As we did more and more research on value based care, we kept running into the work of Dr. Mark Fendrick from the VBID Center at the University of Michigan. We knew that he was THE thought leader that we needed to talk to. After developing a relationship with Dr. Fendrick, he became so excited about the prospects of our technologies and services taking his research principles to scale, that he agreed to join as our team as Chief Medical Advisor. We are very excited to continue to learn from thought leaders like Dr. Fendrick in order to further improve our products and value proposition.