Post on 06-Jul-2020
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.
Proprietary/Confidential: Need-to-Know
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
Proprietary/Confidential: Need-to-Know
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
Proprietary/Confidential: Need-to-Know
Problem
No globalpatient IDs
Disparate patientdata
Patients lack alineage of care
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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
Proprietary/Confidential: Need-to-Know
• $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
Proprietary/Confidential: Need-to-Know
• $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
Proprietary/Confidential: Need-to-Know
Behavioral-basedids
id validation apiApp/Web
Product
Proprietary/Confidential: Need-to-Know
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
Proprietary/Confidential: Need-to-Know
$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
Proprietary/Confidential: Need-to-Know
$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
Proprietary/Confidential: Need-to-Know
• 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
Proprietary/Confidential: Need-to-Know
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
Proprietary/Confidential: Need-to-Know
*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
Proprietary/Confidential: Need-to-Know
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
Proprietary/Confidential: Need-to-Know
5-year projections
0
50
100
150
200
250
300
350
400
450
500
Yr1 Yr2 Yr3 Yr4 Yr5
Units in millions
Proprietary/Confidential: Need-to-Know
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
Proprietary/Confidential: Need-to-Know
Ramp-up Hiring
05
Fully Staffed
32M Patients
06
200M Patients
229M In Revenue
App Beta / DSAC Event
Press/Features
Proprietary/Confidential: Need-to-Know
Contact Us!
Medblox.io Info@MedBlox.io
@MedBlox MedBloxon Facebook
@MedBloxMedBlox on LinkedIn
Proprietary/Confidential: Need-to-Know
• 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
Proprietary/Confidential: Need-to-Know