January 23rd Pitch Off Contestant: Sustained Hope
Sustained Hope, an early-stage healthcare company, has a novel beta product: SPRINT©, a care management platform for discharged brain and heart trauma patients.
Post-discharge patient follow-up, care delivery and evidence-based care are absent or inadequate at best. Costly long-term complications and readmissions frequently result from inadequate or nonexistent follow-on patient care after discharge. Hospitals paid in 2017 almost $600M in fines for excessive 30-day readmissions! Since the Centers for Medicare and Medicaid Services publish these annual penalties, hospital’s reputation suffers as well. SPRINT is specifically designed and developed to identify and eliminate barriers to care delivery, eliminating avoidable readmissions, which alone can save $17B/year in Medicare cost!
SPRINT is a post-acute careflow management platform, with integrated technologies and devices for: real-time patient assessments; HIPAA-compliant patient records (EMR & EHR) integration; telehealth monitoring and on-demand reporting of patient data and analytics. Computerized assessments, vitals, medication adherence; remote sensing of patient activity are exemplary technologies integrated into SPRINT. To ensure accuracy and efficiency, SPRINT is managed by a specially trained Patient Navigator, who ensures care coordination and integration through 3-way bidirectional communications among all stakeholders, as shown in the figure on right. SPRINT seeks to enhance patient outcome (i.e., eliminate frequent readmissions, control/reduce comorbidities and improve quality of life) while reducing cost of care.
SPRINT has gained traction with Emory Hospital System for pilot evaluation with stroke patients. Two more healthcare systems have expressed interest in clinical evaluation of SPRINT. Our plan is to complete the pilot at Emory and validate SPRINT in 6 more centers within 18 months, through StrokeNet engagement.
Sustained Hope’s business development strategy is to progressively leverage the hospital system collaborations and partnerships to: (1) establish SPRINT as the preferred product for post-stroke patient care (18 months); (2) validate SPRINT application for post-acute care of heart patients (18 months); and to (3) expand SPRINT’s use for post-discharge care of patients with lung and kidney diseases (24 months).
Total addressable market for SPRINT deployed for post-acute care of roughly one million heart attack and stroke survivors is estimated to be $3B/year. This is based on a package subscription pricing model that includes the software access, pro re nata navigator access and a patient-specific telehealth kit, offered at $3000/year/user. With hospital system and provider referrals, we expect to capture 10,000 users in 5 years , generating a recurring revenue of $30M/year. Sustained Hope’s exit strategy is acquisition by established Insurance companies such as Humana or Health Information Technology companies such as Cerner or Epic.
To hear more, contact: Sai Kumar, Ph.D., Founder-CEO, (404)-509-7702; firstname.lastname@example.org