After 30 years of discourse, there is broad consensus on the importance of electronic medical records (EMRs). It’s a fundamental topic in any discussion about improving healthcare quality and reducing costs. The potential benefits of EMRs are clear:
• Reduction of duplicative tests
• Reduction in administrative overhead
• Reduction in medical errors
Why then, have there been no significant results that support this reduction in cost? We believe the reasons lie in the fact that the system is only as good as its weakest link. Current EMR systems offered by healthcare providers are fundamentally limited because patients receive care from multiple sources, and there is no evidence that these multiple parties can integrate the information in an effective manner.
Electronic medical records will not have broad adoption until they are part of a practical solution that generates records that are problem-oriented, accurate, complete, and transportable, and secure. OurHealthConnector creates and maintains a world class medical record that is owned by the patient. It requires heavy lifting and a combination of caring, tenacity, and technology. Once created, is our job to help the patient get that complete record in the hands of the next caregiver in a form they can use without interruption.
Our target market is the ultimate payor of the patient’s healthcare. If they invest 4% of a patient’s annual healthcare costs, they should expect to have an actual cost savings > 10% within the first year.
Our initial focus will be on patients who consume vast amounts of healthcare. We will conduct 4 high visibility pilot programs which demonstrate a powerful ROI for payors. Even with success in a niche market, the revenue opportunities are among the largest in all of healthcare. Ironically, the capital requirement is low, yet the barriers to entry are high.
The company has a deep and rich background in health IT and a well established track record for customer driven innovation. We are seeking investors of $0.5 to 1.0 MM who are willing to match pre-paid revenue streams and other investors, so that every $1 investment is matched by $2.