Sramana Mitra: Explain to me specifically how the product that you sell is applied to the use case that you discussed.
Eric Langshur: If you are a healthy system executive and you are responsible for creating an online portal, for example, a digital front door for Saint Joseph’s health system.
What do you do? Today, you would fire up a team, call people in the industry, hire a consultant, and start getting educated. In our world, you would come to AVIA Connect and you can get the knowledge map and playbook and continue to double click on the different domains that we are talking about.
AVIA Connect gives you an understanding of the capabilities – how they fit together, what the sequences of moves should be, what the foundational moves are, and what steps can be skipped and not skipped.
This goes all the way through to identify each of these levels. Who are four different tech providers who can help you with the search and schedule? How do they compare to each other? It also shows which health systems have implemented them and what sort of results they have achieved.
It’s rich in information and practice information sets that take what would have been a time-consuming arduous process that results in massive inefficiency in the market. AVIA Connect compresses the time cycle and brings efficiency to the company. It helps decision-makers avoid mistakes and act with confidence.
Sramana Mitra: I see on your profile that you also run a healthcare incubator. Let’s talk about five ideas that are cool ideas that you are incubating that address specific pain points in the digital health ecosystem.
Eric Langshur: That’s a beautiful softball discussion for me. Our investment thesis is that there are megatrends here. We play at the intersection of the experienced economy, the aging tsunami, and the data explosion.
Idea number one is that we launched an alliance of health systems who have come together to create new enterprises in a way that drives new sources of margin to fund our mission. The idea here is to de-risk the development of companies by starting with clients. This is a company-starting machine.
Idea number two, we have a big bed in the digital therapeutic space. We have partnered with Boston Consulting Group to set up a one-stop shop digital therapeutics company. We believe that digital medicine is the future. It’s what healthcare will be in the delivery world of patient engagement.
This business case begins with providers identifying digital care pathways that complement traditional medicine. It then helps develop the software, get it regulatory-approved, embed and incorporate it in a clinical workflow, and in distribution and commercialization.
Companies call it DPSL. We have another company which is in this intersection of the three mega trends. It focuses on the aging tsunami especially relevant to the COVID and post-COVID world where people want to age in place.
Today, there is no go-to solution for families and adult caregivers to help their loved ones stay at home and not go to a nursing home. It’s a beautiful platform that we built through acquisition.
It helps people to get access to all the services that they need in a data-integrated way to help people age in place. It covers home modification, geriatric navigation, nutrition, transportation, advance directive, and so forth. It’s a giant need.