I’M HOME!TM is our patent-pending software as a service (SaaS) platform that enhances hospital care plan adherence by creating connectivity between patients, hospitals and care teams. As a result of patients more closely following discharge care plans using I’M HOME!, hospitals reduce unnecessary readmissions, improve outcomes and patient satisfaction, increase communication and lower provider labor costs. Our private, secure HIPAA compliant communication network for hospitals, patients, clinicians and caregivers provides hospital staff with a low-cost, real-time solution to monitor patients post-discharge. Reminders and alerts allow for instant feedback when a patient responds adversely to a care activity. Patients have access from home to information and providers previously unavailable. In addition to responding to care activities and alerts on their mobile device, tablet or computer, patients may send messages or questions to various providers, view lab results or select educational content about their condition and recovery.
In addition to addressing hospitals’ need to reduce unnecessary readmissions, I’M HOME! delivers numerous additional benefits critical to improving hospital operations including increased patient satisfaction, reduced labor costs, lower lengths of stay, and improved communication among providers, among others.
During our pilot program, several clinicians requested that we provide I’M HOME! for other medical conditions for which readmission issues rarely exist, such as weight loss surgery, maternity and orthopedics. The benefits experienced by the hospital (automated pre- and post-surgery patient monitoring, reduced labor, and patient satisfaction) and the patients (improved adherence/outcomes, HIPAA compliant real time communications with care team, and access to educational materials) underscore how SHN will expand sales of I’M HOME! within each hospital and hospital system customer by applying our proprietary and patented technology to a broad range of clinical areas. Pilot program results demonstrate engagement by patients as well as providers and effective use of our system’s alerts and alarms.
We currently are conducting a highly successful pilot program for I’M HOME! with a Tenet healthcare system hospital and have a relationship with Aon plc (NYSE: AON) for distributing I’M HOME! to its hospital clients. Additionally, SHN is in advanced discussions with several other partners for additional hospital programs, user engagement, data analytics and other services.
Our founders have assembled a team that has successfully developed I’M HOME! and used their deep relationships in the healthcare and insurance industries to commercialize it. Led by highly experienced healthcare, finance and technology executives, SHN has exceptionally deep relationships in the healthcare provider, employer and insurance markets for a company of its size. I’M HOME! is currently undergoing a successful pilot program with a Tenet Healthcare system hospital, with the initial goal of optimizing our product to meet hospitals’, caregivers’ and patients’ needs pre- and post-discharge.
Key Investment Considerations
â€¢ Proprietary, patent pending technology platform designed to help individuals take control of their own health to get better and stay better
â€¢ Strong and growing demand: Hospitals are facing increasingly large penalties for high readmission levels
â€¢ Uniquely comprehensive product focused on ease of use, user engagement and HIPAA compliance
â€¢ Business relationships with Tenet and Aon, demonstrating proof of concept and broad distribution capabilities
â€¢ Numerous additional revenue opportunities identified with other providers such as home health, physician practices, rehabilitation facilities, and hospice
â€¢ As data and number of users accumulate, new revenue opportunities emerge with payers, pharmaceutical manufacturers and retailers such as pharmacies, health clubs, etc.
â€¢ Additional dialogues with industry leading companies as potential strategic partners
â€¢ Management team experienced in starting, building and financing healthcare businesses