MedBlox Pitch Deck ICAD v5 · 2019-08-22 · • MedBlox’steam has a history of delivering...

Dynamic Patient ids – for a World Without Boundaries

MedBlox Pitch Deck

Proprietary/Confidential: Need-to-Know

Mission

MedBlox’s mission is to bridge online/offline identity using behavioral-ids.

Making who you are, how you login.


Company Overview

• MedBlox is an Iowa health tech startup focused on cross-organization behavior-based identities

• The company has developed proprietary algorithms & models enabling fleeting logins via our x-OPEx* exchange

• MedBlox’s team has a history of delivering results in healthcare's complex market place

• 130+ historic health system technical implementations• 2,500+ data-flows processed daily

• Extensive healthcare regulatory, technical contract review, and M&A expertise

• Experience working with stakeholders with varying degrees of project endorsement

• The company has commitments from two provider organizations for a closed beta demonstrating behavior-as-login (175,000 Iowans)

• MedBlox is presenting to MITER September 30, a group including HHS, FDA, CMS, & the VA, on Behavioral-identities: identity cross-validation without security compromise”

• The company is in active negotiations to licensing our technology in the financial industry for entity validation during payment and commodities trade processing

• MedBlox’s patient-engagement app is in active development• Projected launch date corresponds with MedBlox’s presentation “Alternative Forms of

Identity” at the Domestic Security Alliance Council (DSAC) Analyst Open House (mid-November 2019)*Pronounced: Cross Op 'eks


Meet the team

Todd Chamberlain, CEO

Former Head of Technology, Development, Infrastructure, & Compliance Official, MediRevv

Somchai Rice, Ph.D., CSO

Former Research Scientist, Forensic Toxicologists, & Data Analyst, Iowa State University

Josh Maurer, Director Ops &

Project Management

Former Sr. Manager of Technical Services, Project

Management, and Compliance Review, MediRevv

Matt Dunn, Full Stack

Developer & Network Engineer

Former Lead Engineer of Networking, DevOPs, Automation, & Technical ARB Chair, MediRevv

Steve Davis

Owner, President Bio::Neos, Inc. &

MedBlox Strategic Data Advisor

Aaron Warner

Founder, CEO ProCircular Inc. & MedBlox Strategic

Security Advisor

Solomon Smith

CISO, Aegon& MedBlox Strategic

Security Advisor

Shadrack Roberts

CISO, Global Risk

Compliance, ASC/DOD

& MedBlox Cryptography Advisor

John D. Johnson, Ph.D.

Advisory Senior Manager of Cybersecurity,

Deloitte

& MedBlox Secure Architect Advisor

Michael J. Daugherty

CEO LabMD & MedBlox Healthcare Specific

Security and Compliance Advisor


Problem

No globalpatient IDs

Disparate patientdata

Patients lack alineage of care


Solution

A platform that bridges disparate patient data with a paradigm shifting identity exchange.

Enable data infrastructure flexibility

Single source of truth for patient ID & records

Establish a lineage of care across

organizations


• $37 BillionSpent annually on EMRs

**All numbers are from the most recent 2015 Patient Engagement Study by HealthIt.gov,and MarketsandMarkets**

• 233 Million PatientsTrust third-parties with their

health records

• 40% of PatientsShop their care on a

visit-by-visit basis

Market Validation


• $13 BillionInformation Exchange Market

$5-$250 per request admin expense 40% of visits require data

exchange request991 Million distinct US visits in 2015

• $9 BillionLost to incorrect patient identity, denied

claims, and staff related efforts

$1,950 of project additional expense per visit according to a Becker’s Health Study

• 3 Unique IDsOn average a patient has 3 MRNs

per facility

6 unique EMR interactions/visits which require

professional interpretation

$8.2 Billion - Technical compliance

$4.1 Billion - Technology maintenance/expansion

US Healthcare Spending Accounts For 17.9 % of 2016 GDP - $3.3 Trillion

$1,950 per visits due to duplicate/erroneous patient data.

$3.9 Billion - Breach fines

$15.7 Billion - EMR licensing, implementation, andtraining

Market Size


Behavioral-basedids

id validation apiApp/Web

Product


Features

• Request access of a patient• Create a causes or groups of research• Define relationships• Request validation on a potential patient

match

• Receive/respond to requests• Contribute info a cause• Extend consent• Add providers• Create/update Blind-IDs• Steward dependent records

Provider Patient

MedBlox CoreProduct Suite Third-Parties

• Request access• Frictionless patient

rights agreements• View/edit records• Find patients and partners• Data/system mapping


$4.5BBillion Dollars

Records brokered by MedBlox10% of available visits

$4.56Average Visit Fee

$.76 / ViewAverage of 6 views

$297MMillion Dollars

RevenueProjected by Mid 2022

We Charge $.76 Fee Per Patient Validation Query$5.00 per Patient Data Brokerage Event

Business Model


$1-8BBillion Dollars

Adjacent Verticals Present Major

Opportunity for additional

Identity Validation Exchanges

$1.50Per Validation

$1.50/Validation

or

30-50% Total Fees

$100MMillion Dollars

Revenue

Projected By 2022

Cross Industry Licensing

Business Model Continued


• Patients want their data• Will spend $160 w/ CMS• 86.8% want to own

their record• Willing to spend $500 / year• Patients present as an

untapped data cleanser• Patients can share barred

information such as DRG pricing or INS policy info

• Price pressure “new normal”• EMRs are a major input cost• Can’t easily win new

customers• Massive health systems

actually drive prices up• Data regulation or

protesting patients arecoming

• Offloading ID calculations removes compute burden fromproviders

• Promotes collaboration• Industry’s first pure use

model • HIPPA burden mitigated

by “non-covered entitystatus”

https://dashboard.healthit.gov/quickstats/pages/FIG-Hospital-Adoption-of-Patient-Engagement-Functionalities.php

Market Adoption


Legacy Players Distributed

• Ignore patients as a major

stakeholder

• Don’t understand the complexity

of the Healthcare economy

• Inexperience in health data

/ implementation

• Have traditional paid for

feeds• Fundamental flaws in

their security architecture

• Misunderstand

Healthcare compliance

• MyHealthEData is driven

by needs as a payor

• CMS can regulate providers

into adoption

• Permissions and location are

centralized

• Data boundaries not well

defined

• Also fails to address *taboo data

Competition

CMS

• EPIC, Cerner, Athena,

Allscripts, eClinicalWorks

largest market shares

• Permissions and location are

centralized

• Interoperability a secondary

priority

• Fail to address *taboo data

• FHIR only solves part of the

problem


*Taboo data: Information which sharing externally is legally prohibited. e.g.• Insurance policy info (only to be supplied by a policyholders)• Prices negotiated during payer contracting (i.e. charge masters)

Competitive Advantage

Promotes

patient

engagement

Handles

traditionally

“taboo data”

Encourages

innovation

Bridges legacy

systems

Security first

architecture

Avoids BAAs

Built for scale

Dynamic

behavioral

ids


We are looking for 12 months financing to reach 32 million patients.

Financials

$500kCurrent round

Initial investment

opportunity

32.6Million patients

Or 5 major installs

$26MRevenue

Over the next 18

months


5-year projections

0

50

100

150

200

250

300

350

400

450

500

Yr1 Yr2 Yr3 Yr4 Yr5

Units in millions


2019

36%StaffedTodd Chamberlain, Co-Founder & CEO

Somchai Rice, Co-Founder & CSOJosh Maurer, Director of Operations &

CommunityEngagementMatt Dunn, Full-StackEngineer

01

2020

04

2021

02

2022

Q1 Q2 Q3 Q4

03 06

06

Timeline

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

1st Commercial Implementation


Ramp-up Hiring

05

Fully Staffed

32M Patients

06

200M Patients

229M In Revenue

App Beta / DSAC Event

Press/Features


Contact Us!

Medblox.io [email protected]

@MedBlox MedBloxon Facebook

@MedBloxMedBlox on LinkedIn


• https://www.aha.org/system/files/2018-01/regulatory-burden-overwhelming-providers-infographic.pdf

• https://www.aha.org/statistics/fast-facts-us-hospitals

• https://www.forbes.com/sites/michelatindera/2018/10/02/healthcare-startups-raised-2-8-billion-last-month/#27e1a8003408

• https://www.healthcareitnews.com/news/why-ehr-data-interoperability-such-mess-3-charts

• https://globenewswire.com/news-release/2017/12/04/1219796/0/en/The-28-Billion-EMR-Market-2017-2021-Electronic-Medical-Records-in-an-Era-of-Disruption.html

• https://www.aha.org/system/files/2018-06/bridging-worlds-shsmd.pdf

• https://www.cdc.gov/nchs/data/hus/2017/076.pdf

• https://ocrportal.hhs.gov/ocr/breach/breach_report.jsf;jsessionid=AC9BDD6060A8F848D09D3B83644E630C

• https://www.emc.com/analyst-report/digital-universe-healthcare-vertical-report-ar.pdf

• https://www.prnewswire.com/news-releases/healthcare-is-ready-for-blockchain-warning-patience-required-300641780.html

• https://hitinfrastructure.com/news/lack-of-use-cases-delays-healthcare-blockchain-implementation

• https://www.aha.org/system/files/2018-01/2018-Environmental-Scan.pdf

References


MedBlox Pitch Deck ICAD v5 · 2019-08-22 · • MedBlox’steam has a history of delivering...

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