We just raised an $11.5m Series A round led by MMC Ventures along with new investor Legal & General, the FTSE100 asset manager. We are delighted to also have the support of our early investors, Par Equity and the Scottish Investment Bank. We want you to know what we plan to do with it.
Healthcare is Moving Out of the Hospital
Healthcare is made up of multiple independent silos. The hospital. The nursing facility. The home. But that is changing. There is more focus on the patient as a whole and the continuum of that patient’s healthcare across these silos. More health and care is being delivered outside the hospital, in the patient’s own home. This produces better outcomes for the patient and reduces cost.
In the U.S., 15% of total joint replacements were done as an outpatient in 2016. It was 25% by 2018 and is expected to be 33% by 2020. For an industry that is supposedly slow-moving, these shifts are seismic and happening quickly.
There’s increased understanding, and increasing implementation in public policy and financial models, that the hospital is not always the best place to deliver healthcare. More and more, there’s an understanding that there must be more focus on preventive and proactive action. Too often, we treat and manage patients at their sickest point. This is also the most expensive point.
Increased Focus on Prevention and Proactive Action
Across the world, healthcare providers are increasingly seeking to manage patient health at the earliest opportunity. But doing this well presents many challenges. More often than not, patients who really need help are the ones that don’t know or won’t call their doctor. It’s nearly impossible to get a deep understanding and insight into a patient’s health once they leave the hospital. And existing solutions have been analog, manual and laborious for patients. For this reason, their adoption and success have been limited.
Invariably, this means the patient shows up at the emergency department once it’s too late. It means more admission to the hospital. It means worse outcomes. And it’s more costly for the patient, providers and payers.
We’re bringing Current Health to every patient
We’re building Current Health to help physicians and healthcare professionals get to the patient that needs them most, at the earliest possible point and wherever that patient is. We don’t believe healthcare should end at the edge of the clinic or the hospital, but should instead extend right into the patient’s own home and stay with them. We believe that healthcare should be delivered early, and our focus should be on reducing long-term morbidity and mortality.
Over the next two years, we’ll help healthcare professionals manage a million patients through our platform.
Doubling down on our wearable
Our wearable provides healthcare professionals with deep, passive insight into a patient’s daily health. Our focus isn’t on real-time monitoring. Instead, it’s using continuous data to build a much better picture of human health. In 2020, we’ll have some exciting news to share on the next stage of our wearable.
An ecosystem of partners
Our wearable monitors a subset of what is clinically relevant in any given patient. That’s why we partner with an ecosystem of other organizations to capture the broadest range of clinical indicators possible. Throughout the course of 2020, we expect to partner with more than 50 medical device companies, providing the best devices in the world in their respective areas.
It’s about management, not monitoring
Monitoring patients is not a clinical problem. It’s a technical problem – and part of the solution. Our focus at Current Health is turning the monitoring data into actionable insights. Identifying the signal from the noise. Pinpointing the one patient out of hundreds that requires intervention.
Much of our product focus in 2020 will be on the appropriate and safe application of artificial intelligence to allow earlier identification and earlier treatment.
Evidence is a spectrum, ranging from anecdotal to gold-standard randomized controlled trials. We believe that proper peer-reviewed clinical and economic evidence is vital to a successful, evidence-based healthcare delivery system. As we begin to apply artificial intelligence, proper peer review and careful study are even more important.
That’s why in 2020, we’ll be investing further in the generation of robust economic and clinical evidence with open, transparent and critical peer review.
Putting the patient and the healthcare team at the heart of what we do
Too often we think healthcare technology products are not built for the patient nor the healthcare team. The people who actually use the product are considered last – if at all. This is anathema to who we are and what we believe in. We believe in always acting in the best interests of the patient and the healthcare professional, putting them first and helping them before all others.
That means listening and acting. Letting our users always inform our product roadmap and always striving to have them involved in the development process.
Trust and transparency
As a company, we take care of real human lives. And we’re capturing a lot of information about those lives. Building trust and being completely transparent at the heart of everything we do. We believe this is something we have to get right from the beginning and as we begin to scale up and rollout, we’ll be doing a lot of work here.
Most importantly, we believe that it should be up to patients to decide what happens with their data. Too often the patient is not considered or consulted in discussions over what happens with their data. We believe this should change and in 2020, this will be a big area of focus for us.
A giant thank you
The entire Current Health team could not be more thankful for the support of the amazing healthcare providers, professionals and patients we work with on a daily basis and without whom we would not be here.
If you are interested in partnering with Current Health in 2020, please reach out.