Sramana Mitra: Has there been new business for you in the last two months?
Bronwyn Spira: Yes, we’ve been very busy. We actually came out of the market with a complementary offer because we could see that a lot of patients were lingering in no mans’ land. Patients that were scheduled to have surgery were stuck at home. They’re anxious and still in pain. We really have the opportunity in this crisis to bridge that gap with our solution and be the voice of comfort for patients.
We have seen a lot of increased interest in our solution during the crisis. There’s also the other side of the coin, which is mind share. Everybody is scrambling to figure out how to deal with this crisis.
Sramana Mitra: You’ve answered a very interesting question on what additional service or product you’ve provided in the context of COVID. My question was a little bit different. Have new health systems come on board with you in the last two months?
Bronwyn Spira: Absolutely. We’ve had an influx of new clients in the last six weeks. We’ve seen a lot of health systems join us.
Sramana Mitra: Do you have competition? Are there other companies that are doing what you are doing?
Bronwyn Spira: There are definitely other point solutions out there. As you mentioned, WebPT does more of the electronic health record side. There are companies that only do navigation, but don’t have the virtual rehab component.
There are companies that do patient-reported outcome collection but don’t necessarily have that full engagement platform. There are other systems out there. We’re seeing more and more of them crop up.
In terms of where we sit in the marketplace, we probably have the leading health systems. The thought leaders are on our platform. We are certainly the most published of all the digital health companies because we have a strong clinical and research focus. We think of ourselves as an end-to-end solution.
Sramana Mitra: Very good. If you look at the general segment that you’re in, what are some problems and gaps in the market where you could point new entrepreneurs to go start new companies in?
Bronwyn Spira: One big area of innovation is thinking about provider burnout. Even with COVID, it has been highlighted how important and how necessary healthcare workers are. They’re the true heroes of this era.
I think we need to rally around them and think about how to support them and prevent burnout. They’ve had a lot of pressure in terms of regulation and documentation. It just seems like there is a lot of room to improve the provider experience and support providers so that they can do what they do best, which is provide care for patients.
I am a provider, so I understand it intuitively from my own experience but I also see it a lot in the market with our customers.