iRxReminder, a Cleveland-based start-up, selected as the winner of the 3rd annual American Medical Informatics Association competition in Washington DC.
Cleveland, OH - The American Medical Informatics Association held its third annual competition to identify the best new solutions in healthcare that use information and informatics to improve patient care. The contest is run in partnership with MedStartr, a crowdfunding marketplace for healthcare company development, that seeks entrepreneurial organizations to invest in and accelerate. Start-ups from all over the country were asked to submit a project idea and were vetted by the MedStatr community that includes healthcare experts and iRxReminder was selected as a finalist.
Five teams took the stage on Sunday morning, November 18, at the AMIA annual conference in Washington DC to compete for $25,000 in grants and entry into the MedStartr Acceleration Program. Each team was given 6-minutes to present a complete overview of their company, the problem to be solved, explain their unique solution, and present the business case.
“I was stunned and thrilled when they announced our name,” said Anthony Sterns, CEO of iRxReminder who made the winning pitch. “The other teams are also doing great things with large data sets and have relationships with major clinical organizations.” However, the judges determined that iRxReminder has the strongest business case and that the other competing companies still left them guessing as to how their ideas could scale and grow.”
We worked closely with our lead mentor Cathy Lippert from the Burton D. Morgan Mentorship program, Russ Donda our mentor from the GLIDE Innovation Fund, and Jim Weisman, our mentor at BioEnterprise to build a strong business case to help mental health agencies support their patients and staff with our proprietary technology.
Mental health service agencies have a serious problem with over 25% of their client-patient population routinely in crisis. iRxReminder provides a smartphone app and a wirelessly connected smart pill dispenser to patients. When patients take their medication the confirmation of dispense is shared with their healthcare team. What makes iRxReminder unique is that the dispenser works with a dosing window. If the patient takes the medication on time on their own, in the first half of the dosing window, they get no alert. Only when they forget do they get an alert. As they get better at taking the medication on-time, they get fewer more meaningful alerts driving high adherence.
“We are training people to take their medications on-time without help,” said Dr. Sterns. “People want to feel in control, and with our method, they are not nagged by an alarmed box telling them what to do.”
The contest began with companies joining a special AMIA MedStartr Crowd Challenge and teams competed to be a finalist by how much the crowd and judges like, follow, try, partner, pilot, mentor, and invest in the ideas and companies. iRxReminder was actually the first alternate but was elevated to compete when another company could not make the trip to Washington. The other finalists included: IANN, Inference Analytics Neural Network of Chicago, IL, who came in second, Stocastic E-Triage of Baltimore, MD, who came in third. IrisOB Health, Inc. of Scarsdale NY, who won the People’s Choice award. MedAux of New York, NY, also competed.
Andrew Park, the Managing Director of Warburg Pincus
Charles Safran, Professor of Medicine at Harvard Medical School,
Craig Feied, MD former Chief Strategy Officer at Microsoft Health Solutions Group and Professor of Emergency Medicine in the Georgetown University School of Medicine.
Michael Kaufman Managing Partner of Knowledge Based Transaction Partners.
Steve Tolle, a Partner HLM Venture Partners
About iRx Reminder, LLC. iRxReminder is a Cleveland, Ohio-based medication management platform service provider focused on empowering patients and healthcare professionals to manage medication adherence. Our platform ensures that patients achieve high medication adherence, communicate timely with their care team, and improve healthcare outcomes. The iRxCapture app, available in the Apple App Store and Google Play store, is a customizable, bidirectional tool that empowers patients with a unique behavioral approach to compliant self-managed medication taking. The technology also provides effortless remote clinical monitoring that triggers timely and critical interventions by agency staff. The data from monitoring and intervention activities also provides reimbursable activities that help agencies increase their revenue up to 40-percent for their patients using the technology. The company has projects completed or in progress with such institutions as Harvard University, The University of Michigan Cancer Center, George Mason University, Case Western Reserve University, Kent State University, University of Wisconsin School of Medicine, and Summa Health System. The company plans to evolve with FDA clearance of the iLidRx, their wireless smart pill dispenser that verifies medication dispensing as a 510(k) Class II medical device. It is a complete patient-centered medication management and education system that addresses accountable care and population-health-management goals. For more information, go to www.irxreminder.com or contact Larry Tusick, Vice President of Business Development.