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MedPad. Chuck Berry, Michelle Iiyama, Brian Jung, Paul Wanis. The Seamless EMR Interface. MedPad Team: Dedicated & Experienced. Paul Wanis Strategy / Business Dev. Brian Jung R&D, Design & Prod Dev. Chuck Berry Finance & Mktg. Michelle Iiyama Operations & Cust Svc.
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MedPad Chuck Berry, Michelle Iiyama, Brian Jung, Paul Wanis The Seamless EMR Interface
MedPad Team: Dedicated & Experienced Paul Wanis Strategy / Business Dev Brian Jung R&D, Design & Prod Dev Chuck Berry Finance & Mktg Michelle Iiyama Operations & Cust Svc
MedPad – the seamless EMR Interface Data entry Front End for Electronic Medical Record (EMR) systems Integration with standard EMR databases Resolves long-standing issue of usability (barrier to adoption).
The Problem • Tied to a data terminal – have to turn away from the patient • Cumbersome • Designed by engineers, architected to be logical, but not intuitive / fast. • Portable EMR interfaces exist, but still miss the mark: • Too heavy: 3lbs+ doesn’t seem like much, until you’re carrying it around for an entire day • Poor battery life: 4 hr life means 1-2 stops for recharge during a typical shift
MedPad Key Features • Wi-Fi interface • No longer tied to a terminal • Fits in lab coat pocket • Easy to keep with you all day • 10 hours Battery life • No more stops to recharge • Clean interface • Created by UI designers with medical advisors, instead of programmers • Leverage easy-to-use and well-known iPhone / iPad interface. • Ease-of-use enhancements • Voice recognition for automated transcription of notes • Predictive auto-completion for fast manual entry
Value proposition • Save physicians’ valuable time • Add one more patient per hour ($150/hr) • Improved doctor-patient interaction • Ease pressure on staffing • $12,000/yr on transcription (reduce 50-100%) • Eliminate need for computer-savvy nurses • Enhanced accuracy of records • Correct coding ($26/patient in Central Utah Medical Clinic study) • Automated billing
Opportunity Source: Bureau of Labor (2008) EMR market was $13.8B in 2009 alone No one company has more than 20% of the market US healthcare market size is 3.5M practitioners US estimated revenue for MedPad is $1.3B
Roadmap Global
Mandate & Incentives Executive Order 13335—Incentives for the Use of Health Information Technology and Establishing the Position of the National Health Information Technology Coordinator “Goal 1: Inform Clinical Practice…Centers around efforts to bring EHRs directly into clinical practice” “President Obama believes we must take serious steps to modernize our health care system […] Health information technology is a critical part of the President’s strategy […]” Stimulus money (ARRA) offers $10k per year, up to $44k per provider, for EMR implementation.
The Competition • Contineo – connecting mobile devices to “disparate medical information systems” • MangoMed – web-based, can be accessed from mobile, focus on usability. • Motion Computing – Provide C5 portable platform. • Existing EMR vendors (including in-house development)
Solution offering • HW/SW bundle • Pre-configured for usability “out of the box” • Typically part of a bundle w/ training and setup (see below) • Training & setup option • Tailored training and office setup • Typically part of a multi-license package • SW only option • Individual licenses • Includes users guide, on-line tutorial • User procures and configures their own iPad / system • Typically for adding on to existing install • Annual maintenance • Includes upgrades and support line
Roll out Plan $750K Rd 1 Funding $1.3M Rd 2 Funding • Phase 1 – Prototype Development 9-12 months • Partner with selected family practice providers • Pilot installations with partners • Phase 2 – Build Sales 1-3 years • Establish sales network • Begin in S. California; expand to western states • Distribution deals with EMR vendors • Focus on General Practice / Family Practice offices • Phase 3 – National Distribution 3-5 years • Partner with leading EMR back end solution • Nationwide sales network • Branch out into other specialties
Five Year Projection EBIT 50,000 Units Sold 32,490 Units Under Maintenance $56M in Revenue 47% Gross Margin
MedPad The Seamless EMR Interface