Plano, Texas-based Vivify Health offers a unique solution: a remote care platform that uses consumer mobile devices integrated with EMRs.
The company was founded in 2009. In 2016, Pittsburgh-based UPMC became a Vivify Health customer and investor. Earlier this year, Livonia, Mich.-based Trinity Health's national home healthcare agency, Trinity Health At Home, revealed plans to utilize Vivify Health's technology for its home health patients.
But Vivify Health's technology isn't limited to any one patient population. "It's not condition specific," says Eric Rock, founder and CEO of the company. "It's any and every condition. We cover everything from pediatrics to stroke care to liver care. Every day the patient has an experience that changes."
Mr. Rock spoke with Becker's Hospital Review about the changing healthcare startup landscape and what's next for Vivify Health.
Editor's note: This interview has been lightly edited for length and clarity.
Question: What prompted you to found Vivify Health?
Eric Rock: I've been in healthcare IT for over 20 years, and this is my third company. A solution with my last company focused on the [emergency department] specifically.
Then a couple things happened. One of those was the iPhone. We have an opportunity now with technology to engage patients in a different way and keep them at home. Another is ubiquitous wireless networks and off-the-shelf consumer electronics.
We began research in 2007 as my last company, Medhost, was clipping along very well. We evaluated what was originally the patient monitoring market and thought it was time to transform that market. After two years of research, we launched in 2009. We've been in startup mode that entire time as this is a complex market. Now over 700 hospitals are represented by nearly 100 contracts we have across the United States.
We have a solution that offers our original goal of helping patients of any age. The average age of our consumer base is 97.
There are so many solutions that come from Silicon Valley that are apps. The reality is that regardless of the numbers we see, a patient may have a phone or tablet but may not use it effectively. We provide a kit that's prepackaged with the appropriate devices. More importantly, it's incredibly simple and walks them through every step.
Q: Why did you choose to headquarter Vivify Health in Plano, Texas?
ER: I've had the fortune of traveling the world and enormous amounts in the United States. All three of my companies started in Texas, where I'm from. Texas is unique in that it's relatively low cost and somewhat conservative.
We're seeing many companies burning through very large A rounds and sometimes even B rounds and then going out of existence. We believe it's in part the nature of being in Silicon Valley and the mindset of "just spend the money and the business will follow." Being in Texas, the cost of living and resources is a little lower. We also have a hotspot of engineering talent and we're centrally located.
We've stood the test of time by being conservative and having fun. We have an office that looks like it belongs in Silicon Valley. We've got the feel but with a conservative approach.
Q: What challenges do healthcare startups face that are different from young companies in other sectors?
ER: In the past four to five years, healthcare has had a significant funding run, which has been great for the industry as a whole. That's been changing in the past 12 months. We're not seeking any additional funding, but those that are will have some struggles. We're starting to see the bubble in healthcare startup space. The funding is drying up, but there are opportunities to roll up with other companies. If you've got a great technology, you have the opportunity to sell your solution early while you have some traction.
If you're attempting to engage an elderly population, an app isn't going to cut it. You have to deliver a complete service.
I'm fortunate to have 20 years in health IT and have lessons learned of the intricate workings behind the inner walls of the hospital. You have to have not only an engaged patient, but also engaged providers. The market is emerging where providers are managing patients outside the four walls, but that's not ubiquitous yet across the sector.
Q: What's in the works this year for Vivify Health?
ER: We've had great successes focusing on the high-risk complex patient post-discharge. We're now seeing a rapid incline of those patients of those patients that are improving in their health. We intend to be the first to have success in large-scale devices that are deployed to patients on their own phone. What we'll be delivering is a continuation of care services, not just post-discharge.
Now that we've tackled the high-risk population, how can we reduce the overall cost of healthcare? How can we allow nurses to manage thousands of patients rather than hundreds?
In brief, we're looking ahead to connected devices, family and peer engagement and the deeper analytics behind it.