PILOT Health Tech NYC is new program that provides funding of up to $100,000 each to 10 innovative pilot projects to take place in New York City. Winner cCaring is a comprehensive in-home health care management system that helps healthcare providers reduce costly hospital re-admissions to avoid Medicare penalties.
Tell us about your product/service.
eCaring makes it easy to generate comprehensive real time actionable health care data from the home. Its intuitive system enables home health aides, caregivers and patients to enter extensive behavioral, clinical and medication adherence data and alerts that keep people in their homes and out of the hospital, lowering health care costs while improving care quality. eCaring is a new source of big health care data — for the first time, from the home.
What market are you attacking and how big is it?
Tens of millions of elderly and patients with chronic conditions will benefit from using eCaring to manage their in-home health care. Many are enrolled in Managed Care Organizations which bear the risks, costs and responsibilities of taking care of these patient populations, who require eCaring to be able to manage the care and contain the costs of treating them. As millions of Americans gain access to insurance under the Affordable Care Act, as well as the two to three million aging-in to Medicare each year, the cost and management issues for patients will become even more acute.
What is the business model?
Primary revenues are software license fees on a per-patient per-month basis. Additional revenues will come from providing education, training and support services, online sales of equipment and services and data mining, as well as expansion into other markets, including veterans, pediatric and international.
Tell us what it means to be matched up to a large healthcare institution.
Working with Pace is like adding a great staff team to our organization, people with experience, dedication and skills that help us more rapidly expand our development and implementation. It’s a terrific experience, and an honor to work with one of New York’s great institutions.
Why did you choose NYC over other locations for your project?
I’m a New Yorker born and bred, and in the past few years, New York has become a much better environment for digital health company development, which was unknown until recently.
Learn more about Pilot Health Tech NYC.