These 4 companies have the potential to change healthcare delivery
Four finalists have been selected for Harvard's "Health Acceleration Challenge," a competition focused on helping healthcare delivery improvement solutions grow.
Finalists share a $150,000 prize among other networking and funding opportunities. The original pool of nearly 500 applicants was narrowed to four by a panel of 50 judges, and the winner will be selected in April 2016.
Here are how the finalists stack up, as presented by Harvard Business Review.
1. Bloodbuy, a Dallas-based company linking hospitals to blood centers has produced a net reduction of 22 percent in total blood spend, according to the report. The company helps hospitals avoid overpaying for blood products, eliminate waste and speed growth.
2. I-PASS Institute, a group of more than 50 faculty from around the country, including Boston Children's Hospital, Intermountain Primary Children's Medical Center in Salt Lake City and Oregon Health and Science University in Portland, work to improve care transitions and patient handoffs through evidence-based training. The collaborative produced a curriculum and process that has reduced injuries from medical errors by 30 percent in nine hospitals, according to the report.
3. Medalogix, a Nashville, Tenn.-based tech company, developed a tool that combines predictive analytics, workflow analysis and business intelligence to guide providers through the end-of-life care process with patients. The company has helped decrease inpatient transfers and identified patients who need additional care or hospice, according to the report.
4. Twine Health, a Cambridge, Mass.-based company developed a population health platform that links patients, physicians, family and friends, and a care coach with integrated communication tools and data monitoring. Results of randomized controlled trials show patients reach goals in 25 percent of the time of standard care and in fewer visits to a physician's office, according to the report.
Learn more about the contest and finalists here.