The problem we solve: “The biggest problem in healthcare communications is the illusion that it occurs”—TED Speaker Liberate addresses several healthcare communications and patient engagement problems for both the healthcare professional and the patient: 1. Healthcare Professionals-HCP (via 3rd party research) a. The number #1 complaint by HCP is they are time constrained and are searching for ways to improve effectiveness and efficiency in their day b. 60% of HCPs state they want better Education materials in their digital workflow 2. Patients (via 3rd party research) a. According to the National Assessment of Adult Literacy, only 12% of Americans have proficient health literacy skills. b. According to AMA research less than 10% of what the HCP says to a patient in the exam room is accurately recalled by patient, which leads to a lack of adherence and directly impacts readmission
About our solution: The Liberate Health platform facilitates enhanced communication between clinicians and their patients at the point of care. Working with therapeutic category experts we have taken complicated condition and treatment information transforming it to plain language with highly visual infographics. This novel combination of technology, software and content leads to proven increase in patient engagement, satisfaction and improved patient understanding and builds a protective wall from competition entering the market. The HCP benefits include increased effectiveness, reduction in time associated with education and patient follow up calls with questions, improved state of the art perception and patient satisfaction. Liberate is an iPad tablet and web based platform that provides disease and treatment content. The HCP can send patient-specific health video to the patient. All content is stored in a secure HIPAA compliant portal to be reviewed by the patient to improve understanding.Progress to date:
Liberate has executed 5 clinical experience trials (N=90 HCPs) to improve education effectiveness and saves HCP time
Key Findings for Liberate
•Increase patient understanding and compliance
•Saved HCP time with improved efficiency and productivity
•Improved conversion to recommended action steps
•Provides value to clinician
•+100 Net Promoter Score®
Current market penetration
•28,000 HCP’s and 2.5M patient encounters
•Liberate delivers patient education in the exam room and digital workflow
–Average use is 5 times per week
–Average discussion is ~2 minutes in length
–Intimate and personal engagement
•Quality principles are applied across all programs
•Content targeted by specialty
•Applies machine learning
Creator: Richard Nordstrom
Bio: Senior level executive with 30 years of general management and commercial leadership. Experience in healthcare working in and with Life Science Companies, including Pharmaceutical, Biotech and Biopharmaceutical companies across an array of therapeutic categories from highly scientific prescription to OTC. Highly developed expertise in building business and organizations, driving growth and developing value for stakeholders. Focusing expertise on creating increased levels of patient engagement through behavior change communications that drive improved health outcomes.
Title: CEO, President, Founder
For patients, Liberate improved the understanding of physician instructions and satisfaction with the HCP interaction. It also strengthened the relationship between providers and patients.
“Borrowing from what George Bernard Shaw once said, “The biggest problem in healthcare communications is the illusion that it takes place.” We work cohesively with healthcare professionals, patients and pharmacy companies to identify all their problem areas. The ability to develop partnerships while promoting patient education and visibility is a unique strength of Liberate Ideas.
We believe it is early days in the transformation of healthcare and we want to be at the very edge of that transformation in order to deliver innovative ideas to help patients improve their health outcomes. Our goal is to be a global leader in patient engagement to assist healthcare professionals in providing the very best care to improve patient health outcomes.
Liberate Ideas is a leader in patient engagement and health communications. The company has been able to leave a positive, lasting impact on the healthcare industry due to its strategic healthcare communication solutions, empathy for limited health literacy, market research capabilities, ability to improve clinical trial recruitment, communication psychology, data analytics, and mobile technologies as well a deep offering of creative capabilities.
Patients are currently recording their office visits sometimes covertly. This puts a pressure on the patient. According to JAMA 07.17 as many as 11% of all visits are being recorded. Patients are the end-user and beneficiary of the deep and personal engagement with Liberate Health. Liberate has executed 5 clinical experience trial to understand the impact of improved communications on both the HCP and the patient.
Patient outcomes were positively impacted in each in terms of moving the patient to the action step requested by the HCP. Patients reported two significant findings:
Large long-term longitudinal studies are the next step to understand if a better-informed patient who has been engaged with Liberate will change the behavior that impact adherence and improved patient satisfaction scores.
For HCPs, Liberate reduces the time spent on educating patients by 50% and improves patient understanding of their disease and treatment expectations.
According to an AMA study, 89 million adults in the US are unable to understand basic health information provided by their healthcare professional (HCP). Hence, patients leave the office confused and unable to properly manage their health. The cost impact on the healthcare system is over $300 billion including lost revenue to pharma, costly re-admissions to hospitals and patients repeating office visits. There are additional direct costs to the physician in terms of time covering the same information on consecutive encounters with the patients who don’t remember the original instructions. In addition, according to the AMA over 70% of all malpractice lawsuits are based on “lack of proper communications on the expectations of side effects or damaging outcomes.” Recording encounters has been proven to reduce litigation. At the Barrow Institute where recording patient encounters are offered to patients, doctors who record sessions are given a 10% discount on medical malpractice insurance.1 According to a recent JAMA article1 a review identified 33 studies (including 18 randomized trials) of patient use of audio-recorded clinic-visit information. Audio recordings were highly valued; across the studies, 72% of patients listened to their recordings, 68% shared them with a caregiver, and individuals receiving recordings reported greater understanding and recall of medical information2
Research published in Annals of Internal Medicine (03/2014) found 31% of new prescriptions are never filled mainly because patients don’t understand the implications of medication to outcomes. Meaningful Use 2 is driving increased level of patient education engagement. HCPs are compensated for educating the patient, providing a digital follow-up and access to a patient portal to review health information. Significant growth is occurring in cloud based healthcare solutions. Cloud computing will continue to grow in large part driven by EHR/EMR.
Research shows the number one complaint physicians have is they don't have enough time in their day to truly treat their patients. In addition, a recent report stated that more than 60% of HCPs want better education materials in their digital workflow. This is where Liberate Idea comes to the foray as a leading healthcare communication provider. Liberate extended into electronic health record platforms can engage over 300,000 potential HCPs. The content that is shared with HCPs is portable, shareable, and personalized to the requirements of each patient. All content is stored in a secure HIPAA compliant portal to be reviewed by the patient or the caregiver to improve understanding.
In 5 separate clinical experience trials, Liberate Health has been shown to improve patient engagement and patient satisfaction scores.
For HCPs, Liberate reduced the time spent on educating patients by 50% and improved patient understanding of their disease and treatment expectations.
For patients, Liberate improved the understanding of physician instructions and satisfaction with the HCP interaction. It also strengthened the relationship between providers and patients.
For retail pharmacy companies, Liberate has improved brand engagement and provides an intimate educational encounter enabling the pharma brand and pharmacist to offer HCPs value “beyond the pill.”
July 10, 2017. doi:10.1001/jama.2017.7511)
2. Tsulukidze M, Durand M-A, Barr PJ, Mead T, Elwyn G. Providing recording of clinical consultation to patients—a highly valued but underutilized intervention: a scoping review. Patient Educ Couns. 2014;95(3):297-304)
Liberate can decrease the time it takes to deliver education at discharge and improve the patient understanding as well as patient satisfaction with the hospital experience and ultimately reduce re-admissions.
Liberate can decrease the time it takes to deliver education at discharge and improve both the patient understanding as well as patient satisfaction with the hospital experience. Liberate has conducted 5 clinical experience trials. Two were in pediatric units in large Children’s Hospitals.
One in a metabolic disease clinic where discharging patients who have inborn disease or inherited genetic disease can be an overwhelming experience for the parents heading home with their newborn. Liberate was proven to increase parent understanding and decreased education time. Liberate received a 100 Promoter score
The other experience trial was conducted in a NICU unit with discharge coordinators educating patients about preventing infectious disease and improving hand-washing technique. Liberate was proven to increase parent understanding and decreased education time. Patients who participated were shown to increased follow-up to the referred pediatrician and an increase in patient satisfaction. Liberate received a 100 Promoter score
Liberate Health’s digital platform creatively uses technology to enhance the physician-patient relationship and advances the educational experience while overcoming the limitations of traditional teaching aids. The Liberate Health platform gives hospitals the ability to record personalized health education instructions to patients. A library of award winning infographic and interactive medical slide decks developed by expert physicians and medical specialist supports the educational engagement.
Hospitals can send their interactions to the patient stored securely in the cloud and where the patient can retrieve and review it anytime they want to. This extension of the educational encounter for parents proved to incrementally improve the positive experience of the hospital discharge and the patient satisfaction.
So to hospitals, Liberate can decrease the time it takes to deliver education at discharge and improve the patient understanding as well as patient satisfaction with the hospital experience and ultimately reduce re-admissions.
Liberate can provide performance based incremental income worth $XXmillions
Liberate has participated in three partnerships with financial and data transfer relationships.
Technology investment to develop integration into iPad platform EHR such as:
Physician’s pay for the service on a PMPM shared revenue model typically 20-30%. Opportunity could generate more than $10 million in annual revenue. These partnerships can also generate increased scale, which can generate pharma revenue.
Pharmaceutical/Diagnostics/Device company Partners
These partnerships are driven by data supplied on real world behaviors of targeted HCPs. The Liberate Health platform has enormous data collection capabilities which our partners value.
Middleware Scale Partners
Liberate has engaged several partners and Liberate has been integrated into the middleware app to drive HCP user scale. The revenue model is similar to EMR partnerships at 25-30% of revenue.
Key Milestones Achieved and Planned
Milestones to date
To achieve commercial success we must drive deep penetration into EHR and the 300,000 physicians who are the potential user universe. We also need to drive enterprise level contracts with hospitals.
Our Competitive Advantages
There is nothing on the market with the combination of features that Liberate currently offers. The combination of technology and functionality along with highly unique content is our current model but we need to deepen the protective mote for market share protection.
This can be accomplished 3 ways:
1. Integration into EHR will provide some level of protection and the first step but developing brand loyal users with high levels of service provides true brand share protection.
2. Hospital penetration and adoption is a lengthy process and like EHRs hospitals do not change once a decision is reached and integration begins.
3. Advancing our platform that provides user-learning capability, which would be, protected IP and allow deeper engagement with user base regardless of mobile technology they are using.
Barriers to Entry
The cost of entry is high and never ends
Technology is only the beginning of the cost. You need to understand the digital ecosystem and user base.
We have developed a significant level of expertise in acquisition and managing our user base. Most competitive products have significantly smaller user base. Due to the unique industry relationships our Founder has we have managed to attain a significant brand presence through advertising and marketing communications. We have achieved over $2million in multichannel marketing programs. We have developed over $1million worth of content. So entry is not an easy hurdle to overcome.
Maintenance, marketing and business development cost are also high. The investing really never ends.
Traction, Funding and Partners
Self-funded by founder $1.5 Million to date. No other investors have been engaged.
The point of care market is expanding rapidly the segment of the Healthcare Ecosystem and according to Zion Market Research recent report indicate that today’s $30 billion POC market will reach $40.5 billion by 2022.
There are several dynamics helping to drive importance of engagement and volume of the market.
Why doctors think education is important
1. Number 1 complaint of doctors is lack of time
2. 65% of HCPs say that the education content available to them is inadequate.
3. HCPs are willing to pay for services that provide value that are built within the EHR platform and help them improve patient education outcomes. Current suppliers charge between $700 and $2000 per year for these services per doctor user. A small number of doctors can generate significant revenue.
Per member per month
10,000 HCPs X $100 X 12MONTHS = $12M
Why doctors like Liberate
Liberate is proven in 5 clinical experience trials
1.Liberate reduced time spent educating
2.Liberate improved patient understanding
3.Liberate helps drive patient behaviors
“90% of Physicians believed that Liberate Health’s content improved their patients’ understanding of their condition“
Why is pharma interested in placing content @ POC?
POC provides a connection point between the phrama brand, the doctor, and patient. And it’s proven to drive desired behavior according to Kantar Media for the Point of Care Communications Council, “Point of Care: Why Care?” 2017:
• 84% of patients who were engaged at the POC are more likely to discuss the product with their physician
• 77% are more likely to ask their doctor for a sample
• 68% are more likely to ask a doctor to prescribe a specific product
53% of doctors do not see sales reps so there is limited access to the HCP
Why pharma likes Liberate
1. Transformative value for brands to engage patients and their caregivers
2. A intimate educational encounter enabling the brand to offer HCPs value “beyond the pill”
3. Provide a foot in the door for sales professionals in tough to see HCPs.
4. Brand content utilized by HCPs accessed in their digital workflow
“Liberate opened the door for personal engagement with key no-see doctors”
--AZ Field sales rep
Patients recognize they need to listen and record the conversation for better recall
Patients don’t recall what is said to them in the exam room and according to JAMA they are recording the conversation and in many cases (11%) without the knowledge of the HCP
Liberate delivers what patients want
“A Patient who understands the treatment instructions and expectations are more likely to follow them”
Projected 3 Year Growth
Liberate has achieved a revenue stream and are in need of funding to drive exponential growth.
We believe these are very conservative numbers for our growth expectations if we receive the funding.
We understand the market is growing rapidly and we will leverage our unique proposition. Our differentiator is the ability to cascade clinically relevant information into the marketplace and move HCPs and patients toward behavioral change. Our expansion strategy is underpinned by strong evidence on Liberates unique impact on health outcomes.
We have a 4-pillar strategy:
Execution of these four strategic platforms will build brand loyalty and provide exponential growth.
There are several education platforms in the marketplace both large scale with hardware placement in office to small nich markets. Companies that provide educations apps for HCPs include:
None provide the unique combination of both condition and treatment content, iPad features and video placement and video creation technology. Based on our clinical trials and the 100 net promoter score we think we have a significant advantage versus other providers of patient education.
Awards and honors bestowed upon Liberate that show we are a recognized leader and innovator @ POC
-Top Five Healthcare App for HCP’s by Medical Marketing &Media 2014 https://goo.gl/Y8nMof
-Top 10 Healthcare apps of 2015 by GoWithTech http://gowithtech.com/best-health-apps/
-Top 10 Most Innovative New Healthcare Solutions 2017 by The Technology Headlines Magazine https://thetechnologyheadlines.com/digitalv/healthcare-service-providers.html
We are in market. We have had clients on-board for consecutive years so we think there is substantial market penetration opportunity.
Five clinical experience trials executed
Astra Zeneca CNS
Met Ed Colorado Children’s Hospital
3 Middleware integrations completed
EY Teaming agreement
Scaled 29,000+ HCP users
2018 Pipeline Business Development Build
11 Pipeline opportunities in progress represent $1.5M
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