About the MedStar #Patient2Consumer Challenge
In the near future, the hospital — as we know it today — may no longer exist.
While the anchor of the U.S. healthcare system remains the big box hospital, more and more care is transitioning away from the in-hospital setting into convenient access points like urgent care sites, ambulatory complexes and surgery centers, home care, virtual visits, and other remote care options enabled by technology. And, hospital systems need to be prepared to accommodate this new trend.
Together, MedStar and 1776 are planning for this reality by launching the MedStar #Patient2Consumer Challenge to activate the startup community and identify innovations that can help transform MedStar’s approach. The program will recruit the best ideas and startups — going beyond smartphone applications and patient portals — that will shape the future of health.
Check out the winners of the #Patient2Consumer Challenge:
Care+Wear – Fashionable and accessible clothing designed for cancer patients undergoing chemotherapy.
Level Therapy – Mobile platform providing treatment tools and video access to licensed psychotherapists.
Pacify Health – Connecting mothers to a national network of pediatric nurses and nutritionists.
Ride RoundTrip Inc – On demand trip scheduling and monitoring for non-emergency medical transportation.
VEDA Data Solutions – Using AI and machine learning to solve problems facing health insurers.
Patientory – Cybersecurity company using blockchain technology to securely manage patient records.
The winning startups receive prizes and the opportunity to incubate their ideas or further develop their companies as part of MedStar’s Innovation Lab cohort.
We are looking for startups of all sizes working on solutions and technologies in the following areas:
Experience: startups that can increase engagement and satisfaction with the healthcare system and empower people to take an active role in their own health.
Emerging Technologies: startups using emerging technologies, like Artificial Intelligence, Virtual Reality/Augmented Reality, Robotics, Internet of Things, and Blockchain to play a major role in improving delivery, providing care, supporting custom-tailored treatments, or using data in new ways.
Connectedness: innovations that make coordination of care outside the hospital more efficient; bridge connections among different sites of care, pharmacies and physicians; or optimize transportation and resources.
Money: startups working in the billing and consumer cost spaces that can create a more transparent system, generate incentives and encourage a smooth continuum of care — all while reducing out-of-pocket costs to consumers.
About the MedStar Innovation Lab Cohort
The MedStar Innovation Lab Cohort is a program designed to validate, test, and/or scale the businesses that can have a transformative impact in the health industry. Together with 1776, the MedStar Innovation Lab Cohort will help the winning startups grow their businesses for three (3) months for potential pilot project collaborations with MedStar and other healthcare companies and systems, as well as exposure to potential investment opportunities.
- The startup must be a for-profit business.
- The business must be a scalable product or service and in-market (MVP or pilots are fine, but must fundamentally be beyond “idea stage”).
- The startup must have an established team with one dedicated representative for the Challenge.
- The dedicated team member must pitch the company at the #Patient2Consumer Challenge event in Washington, D.C., on July 13th.
- The dedicated team member must be able to work from the District-Maryland-Virginia region weekly for three (3) months in order to facilitate the optimal level of collaboration.
- The product must provide unique value beyond a user-friendly application or portal.
- The company must be based in the U.S.
- All competing startups will receive:
- Three months of 1776 Union membership
- Participation in a two-day boot camp on July 11th and July 12th that will include mentor sessions with health experts and information sessions about MedStar, and pitch training opportunities.
- Direct access to MedStar leadership through mentor sessions and workshops during the boot-camp.
- Pitch to an audience of up to 200 investors, MedStar executives, health influencers and other entrepreneurs.
- Free travel and accommodations to and from Washington, D.C. for the challenge.
Winning startups will receive a prize package with a $20,000 value which includes:
- Participation in MedStar’s three-month Innovation Lab Cohort, which will give winners unmatched access to MedStar’s clinical contacts, leadership team, and other unique resources available within this $5 billion+ integrated health system—the largest not-for-profit system in the Washington, D.C./Maryland region.
- Participation in Demo Day at the end of the three-month cohort to pitch their companies in front of venture capitalists, as well as MedStar and other healthcare companies and system executives, for potential investment and pilot project opportunities.
- Free lodging accommodations in Crystal City and living expenses (or a comparable travel budget for commuters).
- Three (3) months of 1776 membership.
- Startup promotion/marketing on 1776’s social media and marketing channels.
MedStar and 1776 will select competing startups for the Challenge:
- All companies must submit an application through the MedStar Challenge website by June 11, 2017 (at 11:59 p.m. ET).
- Up to 15 startups will be selected to compete in the MedStar Challenge by June 23rd, 2017.
- The selected startups will compete at the MedStar #Patient2Consumer Challenge in DC on July 13th, 2017.
- A panel of judges will select up to 5 winners of the MedStar Challenge.
Judges will evaluate startups based on the following criteria:
- Innovative and disruptive technology for MedStar Health system
- Size of market opportunity
- The extent to which the product solves a problem or improves an area within MedStar
- A clear and strong market rollout—or expansion—plan
- Traction (customers, revenues, users, etc.)
- The extent to which the product increases efficiency and cost savings, and can be implemented effectively
- A clear revenue model and execution plan
- A motivated and skilled team
- April 25 — Challenge Launch & Applications open
- June 11 — Applications close at 11:59 p.m. ET
- June 23 — Selected competing startups are notified and announced
- July 10 — Competing startups arrive in DC
- July 11 — Boot Camp Training at 1776 – Day 1
- July 12 — Boot Camp Training at 1776 – Day 2
- July 13 — MedStar #Patient2Consumer Challenge event
- Early October — Winning startups begin time in D.C.
- Late October — MedStar Innovation Lab Cohort starts
- January 31 — Demo Day
MedStar Health is a not-for-profit health system dedicated to caring for people in Maryland and the Washington, D.C., region, while advancing the practice of medicine through education, innovation and research. MedStar’s 30,000 associates, 6,000 affiliated physicians, 10 hospitals, ambulatory care and urgent care centers, and the MedStar Health Research Institute are recognized regionally and nationally for excellence in medical care. As the medical education and clinical partner of Georgetown University, MedStar trains more than 1,100 medical residents annually. MedStar Health’s patient-first philosophy combines care, compassion and clinical excellence with an emphasis on customer service. For more information, visit www.medstarhealth.org.