America’s health care system is neither healthy, caring, nor a system. — Walter Cronkite
$125 billion is wasted every year on nearly one billion doctors’ visits that Americans take that could simply be solved with a bit of education. The efforts to solve this problem is rapidly becoming the fastest growing market in healthcare. It’s a race that’s promoted by the massive shift in the healthcare industry’s economics, mandated by the Affordable Care Act, also known as Obamacare. Because of this shift, an immense opportunity rests in the hands of healthcare entrepreneurs. Among these aspiring go-getters slashing away at healthcare’s frivolous spending are Health123 and SocialWellth.
Led by Founder & CEO, David Vinson, Las Vegas-based SocialWellth is a new health and wellness startup seeking to deliver value-based care by creating an insightful connection between healthcare consumers and sponsors. The acquisition of Happtique almost a year ago created a leading-edge connection to the provider community and the results have been plentiful. Just a few months ago, SocialWellth raised $7.5M to expand their mHealth app store offerings to healthcare providers and also to expand research and development endeavors. Not solely focused on provider relationships, SocialWellth is dialed in to the continuum of care, taking creative, and scientific-based approaches to deliver new experiences for all those involved in consumer care. With so many digital tools, services and applications (100,000+), SocialWellth is still able to ensure a HIPAA compliant environment to protect all patient data. Datica is proud to share SocialWellth’s vision into transforming the healthcare experience and progressing towards a value-based care model.
Rebecca Norlander and Rachel Lanham, co-founders of Health123, are leading a mission towards value-based care by empowering technologies and all those involved in patient care. Another facet of moving towards a value-based care model is recognizing preventive care, and that’s what Health123 aims to achieve. Through a flexible, customizable cloud platform, Health123 fills the gaps between doctor visits by delivering care components and plans to patients that give the precise information at the exact time needed. By doing so, Health123 promotes patient education and engagement through a platform that entices patients and physicians alike. All of us at Catalyze advocate and applaud Health123’s mission towards bettering our healthcare industry.
Good quality is less costly because of more accurate diagnoses, fewer treatment errors, lower complication rates, faster recovery, less invasive treatment, and the minimization of the need for treatment. More broadly, better health is less expensive than illness. - Michael E. Porter, Redefining Health Care: Creating Value-based Competition on Results