Impact Pediatric Health Competition Wrap-Up
As we have a chance to step back from an invigorating experience at the Impact Pediatric Health Pitch Competition, part of the SXSW Interactive Conference, we are reflecting on some noteworthy takeaways (because we hesitate to be cliché and use the word impactful).
We are very proud of our team’s two 2nd place finishes, as voted on by both the venture capitalists and hospital systems (cool trophies, Impact Pediatric);
And we also walked away with some great interaction and conversations with many of the major pediatric hospital systems from across the country.
Here are some personal observations and takeaways from our executive team. These weren’t necessarily NEW learnings, but a reinforcement of things we have learned during our first four years.
“We learned that hospitals are pushing themselves harder than ever to innovate; particularly the pediatric systems. We are seeing an increasing trend of more and more hospital executives seeking opportunities to standardize on, and even commercialize technologies that can scale across their systems. This helps them provide a greater level of patient care, as well as maximize their operating margin.”
– Christopher Raff, CFO
“We heard reinforcement that our algorithms are part of our ‘secret sauce,’ which was a term Marc Cuban created buzz around at the event. At MIC, not only do we have health condition specific algorithms, we also created an underlying system and the operational mechanics to bring them through FDA approval. This sets up the ability to deploy the algorithms on a hospital-by-hospital system via our Sickbay platform.”
– Craig Rusin, CTO
And from my perspective, at a more strategic business level, patient monitoring and the tools and technology care teams can utilize during critical decision points have just become so complex. And collectively wrapping our arms around that is the ultimate challenge in this space. Both the vendors and the hospital systems have to embrace that it’s not just about the technology. It’s also about integrating the technology into the care team workflows. And it’s about understanding the clinical problem. You have to have perspective on all of it to be successful.
As one of the critical vendors who can be part of a broader patient-specific care solution, MIC strives to continuously set the tone that we want to work in partnership with the hospital’s teams to create meaningful solutions.