Eight early to middle stage medical IT companies are the successful applicants for a share of a $4.2 million fund put up by the New York eHealth Collaborative and the Partnership for New York City fund.
The project is called the New York Digital Health Accelerator and aimed for developing companies working on improved solutions for the coordination of patient treatment and the sharing of medical records. For example, myaidin.com runs a web platform that enables admissions staff to search for appropriate referrals for patients.
Each of the companies receives $300,000 share and nine months of mentoring from senior executives and health providers across the state including the Catholic Health system based in Buffalo and Finger Lakes Community Health.
The companies are required to establish a marquee in the state as part of the program, and about half of them will be opening new offices. The other four are already New York based companies.
New York State Health Commissioner Nirav R. Shah is quoted in the announcement:
The Accelerator provides much-needed, valuable tools for providers in support of New York State's Medicaid Redesign initiative...the initiative, which promotes a shift from the costly fee for-service model to a more effective and efficient managed care approach, is resulting in better care - at lower cost - for patients across the continuum of care. The Accelerator is an essential first step to stimulate the market and nurture innovation within the entrepreneurial community.
The Innovation Trail's Kate O'Connell spoke to the Executive Director of the New York eHealth collaborative, David Whitlinger. You can listen to her report in the audio above.