Blueprint Health’s Summer / Fall 2013 Class

Blueprint Health, a New York City-based healthcare accelerator, announced and welcomed its next class of startups last week. The headline and message is that it is made up of more mature companies, five of which are apparently already making money.

It’s a good sign for Blueprint that increasingly mature companies are entering the accelerator. That means it is attracting lower-risk investments with additional validation of the product and market, presumably at the same investment terms as earlier stage startups. Other successful accelerators, like YCombinator, are able to attract later stage startups because the thought is that good accelerators can still deliver value worth more than the seven percent equity they take.

A valid argument against accelerators, especially those focused on healthcare, is that their programs are too short and rarely deliver the most important result — customers and pilot sites. I’ve talked to several accelerator grads (not from Blueprint) who feel let down or at the least have mixed feelings about their experience. They felt the focus of the accelerator was on demo day and fundraising, not on acquiring pilots and customers. Blueprint has done a good job of helping its portfolio companies get customers, but it’s always easier when the company has a saleable product.

The ten companies in Blueprint’s new class are below.

Artemis

Artemis. This is a Meaningful Use dashboard and attestation platform. From the Angelist site, it looks like Artemis does other things with operational metrics for dashboards, but that’s not a part of the release. There isn’t too much more to say about Meaningful Use dashboards and attestations, which is a good thing because it means people will get it. This company sounds a lot like SA Ignite, which I think is having good success.

boardvitals

BoardVitals. This is a medical education company specifically focused on graduate medical training. It sounds like it is trying to address the hole in the market with companies like Kaplan not creating good solutions for medical residents and fellows. I’m married to a dermatology resident who has a hodgepodge mix of legacy PowerPoint and pharma-sponsored study material, so there’s an opportunity to create something of value.

CredSimple_Logo_V1-01-300x65 (1)

CredSimple. This is a credentialing service for hospitals to reduce the time and cost spent on the inefficient process that most physicians hate. Interestingly, Phynd just raised money to develop a similar service.

genterpret logo v1.2

Genterpret. This new company, spun out of Harvard, focuses on making tools that help individuals understand genetic testing results. It also has (or is developing) a database to help genetics labs understands variants. Personalized medicine is a monster trend, but I’m curious where this fits, at least the consumer part of it, with tools like 23andMe.

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GoalSponsors. It’s a marketplace for finding personal virtual coaches for weight loss and addiction. It also provides a virtual platform to deliver coaching. Users pay coaches monthly. It seems like a wellness version of the original Keas care plan marketplace, but it’s probably targeting a better demographic. I think this makes sense, especially if it can find a way to do something with affiliates like gyms and devices. They should market the heck out of this right around New Year’s.

healthify

Healthify. The company is tackling the social needs of patients. The SaaS service offers targeted recommendations and tracking through mobile messaging, such as for healthy food options. It reminds me of a generalized, location-driven Text4Baby. Text4Baby proved that people will use recommendations for public services, many of which they’ve probably never heard of. Healthify seems cool — it just needs to target the right organizations.

I really wish I had bought the domain "healthify" a few years ago. I don’t think the .com was available, but others were, and I’m a sucker for names like this. I think it’s being used by a few companies now doing different things in health and wellness.

pathdrugomics

PathDrugomics. This is a platform to do fast analysis on big drug data to make drug discovery cheaper. It reminded me of a talk I heard recently by a pharma exec that mentioned the cost of failure being variable for different classes and types of drugs. PathDrugomics, which is a horrible name that does the opposite of roll off the tongue, wants to make it faster and cheaper to fail, helping to speed the time to successful drug discovery in the process.

spotme

SpotMe. This is an employer-based tool that enable organizations to offer and manage benefits programs specifically for activities such as gym memberships and sports leagues. I assume the goal is to integrate with larger benefits programs. I also assume selling through either TPAs or benefits brokers would be helpful. It doesn’t say this, but it would be good if there was some sort of added benefit, blended with gaming somehow, to provide additional rewards to employees who actually use these activity benefits.

staffinsight

StaffInsight. It’s a tool to help hospitals and long-term care facilities manage their workforces. Not terribly sexy, like a sensor-based device or quantified self app, but it probably has a faster route to revenue. It’s starting with a tool to quantify productivity and then moving into payroll and scheduling.

welltrackone

WellTrackOne. The company is trying to help systems and ACOs capture revenue from annual Medicare wellness videos. It sounds like it needs an interface to clinical data to perform a risk assessment. I assume from there it provides targeted lists of patients who are eligible for reimbursable wellness visits. The company is in Hilton Head, SC, which seems like a not-so-common location for a startup.

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Travis Good is an MD/MBA involved with health IT startups. More about me.

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