30 Most Underrated Healthcare Startups of 2015 File IPO Prospectus

Names like Jawbone, Fitbit, MyFitnessPal, and RunKeeper have become household terms, but the landscape of medical startups extends far beyond these widely recognized fitness-tracking apps and devices. Developers and entrepreneurs are gearing up for a major push, aiming to transform how we manage and perceive health and medicine through innovations in apps, wearable products, medical devices, software, and platforms. Below, wallstcheatsheet.com introduces several lesser-known medical startups, compiled by VCBeat, offering a glimpse into their ambitious plans for the future.

According to VentureBeat, internet healthcare companies secured over $4.1 billion in venture capital funding in 2014, a record-breaking figure that exceeded the total amount raised in the previous three years combined. The future of medical technology encompasses leveraging wearable devices to monitor patients’ vital signs, utilizing mobile applications to deliver enhanced care, employing software systems to foster stronger doctor-patient relationships, and driving innovation to facilitate better research and more efficient clinical trials.

However, developers and entrepreneurs building healthcare apps and technologies often face greater challenges. To achieve success, they need to create software, tools, and other technologies that streamline healthcare providers’ workflows, enabling more cost-effective diagnosis and treatment of patients while delivering improved clinical outcomes.

Many companies are striving to achieve these goals. Some are developing consumer-facing tools, others are building platforms and software for healthcare providers, and still others are creating tools that enable more developers to engage in digital health innovation. In the exciting year of 2015, which undervalued companies deserve our attention? Read on with VCBeat.

Advancing Medical Research and Leveraging User Data More Intelligently

In this era of information explosion, nearly every aspect of people’s daily lives is inundated with vast amounts of data, and health is no exception. Data is playing an increasingly prominent role in medical research, while startups are harnessing the power of data in genetic testing, personalized medicine research, and more efficient clinical trials. Healthcare providers can now not only collect more patient data but also leverage it to gain deeper insights into individual health or disease states, thereby improving care quality and informing clinical decision-making.

1. MetaMedIt enables patients with severe conditions to connect with the world’s leading researchers for personalized medical research. It can assemble a team of experts to gather all relevant information regarding the patient’s medical history, genetics, condition, and clinical metrics, and submit concise, objective reports. For more detailed information about MetaMed, please refer to “MetaMed: Unlocking a New World of Personalized Medicine for Patients》。

2. FlatironLaunched the first cloud-based oncology data platform: OncologyCloud. Designed specifically for oncology, this platform aggregates real-time clinical and financial data, provides comprehensive patient medical records, and helps various organizations fully leverage their data.Flatiron Secured $130 Million in Investment from Google)

3. Ginger.ioA data-collection app has been provided, which uses smartphones and self-reported information to gather sensor data, aiming to improve mental health care and determine whether individuals need assistance. Collaborating institutions and related studies are currently applying this platform to the treatment and care of conditions such as depression, bipolar disorder, and chronic pain.

4. Recombineis a clinical genetic testing company that helps patients and providers make informed decisions based on the results of genetic tests. This startup aims to improve patient outcomes through personalized genetic testing and comprehensive genetic counseling.

5. TranscripticUnder advanced robotic automation conditions, it provides researchers with a remote, on-demand robotic life science research laboratory. Users can work in the laboratory through Transcriptic's secure web interface, or write their own code to directly connect with the laboratory system.The founder of Transcriptic is one of Google's investors.Blake Byers)

6. SyapseHelp healthcare providers, laboratories, and registries leverage molecular analytics and clinical data to diagnose and treat patients. By utilizing molecular analysis technologies such as genomic sequencing, Syapse enables service providers to practice precision medicine based on an ever-expanding body of knowledge, gain genomic insights, and deliver patient care.

7. GoBaltoProvide software to make clinical trials faster and easier. The software accelerates study initiation, keeps documentation synchronized at all times, enables real-time collaboration and document exchange, provides visibility into the status of files and comments, and ensures that every participant is kept informed of the current study progress.

Find a Doctor or Get a Diagnosis

The first step in accessing healthcare services is often finding a physician who can provide consultation, diagnosis, and treatment. Entrepreneurs are striving to make it more convenient for people to access healthcare through various channels, including virtual medical consultations, online platforms for searching and scheduling appointments with doctors, and even improving employer-sponsored health plans.

8. MedicastEnables users to request house calls from physicians based on their individual needs. Screened and credentialed physicians will arrive at the user’s home, office, or hotel within two hours and provide a thorough consultation lasting at least 30 minutes. This service is currently available in cities such as Miami, Los Angeles, and San Diego.Eric Topol, author of The Patient Will See You Now, has also strongly recommended Medicast.)

9.ZipnosisProvides desktop and mobile platforms to enable users to receive diagnosis and treatment for minor health issues. This service is available around the clock, with diagnostic consultations accessible daily from 8:00 AM to 8:00 PM. For a fee of $25, payable via credit card or health savings account (HSA) card, users can undergo an automated online consultation and receive a prescription immediately.

10. SherpaaBy offering smarter corporate healthcare through virtual consultations, employees gain immediate access to physicians and faster diagnosis and treatment. Sherpaa can reduce employee outpatient visits while controlling out-of-pocket costs. Companies also benefit from lower costs, higher average employee utilization, and a lower year-over-year increase in insurance premiums.Read the story of Cheryl Swirnow, Co-Founder of Sherpaa；View Mode Analysis Here)

11. Better Doctor Helps users discover and schedule appointments with doctors through its website or mobile app. Users can search for top-rated primary care physicians or specialists in their area, covering fields such as dentistry, ophthalmology, obstetrics and gynecology, pediatrics, dermatology, allergy and immunology, cardiology, and genetics.

12. BreakthroughThe company providing online mental health services was recently acquired by MDLIVE. Breakthrough helps users find suitable, state-licensed and vetted therapists nearby, offering convenience while protecting privacy and reducing costs.

13. NeurotrackTechnologies are being developed to predict the signs of Alzheimer’s disease 3–6 years in advance. Based on biomarkers, these technologies employ computer vision-based cognitive tests as predictive tools. Through their analysis, behavioral symptoms of Alzheimer’s disease can be predicted significantly earlier by detecting fluctuations in the hippocampus.Halle Tecco, founder of Rock Health, also expressed high hopes for this technology in an interview.)

Enhancing Treatment and Rehabilitation Standards

A variety of high-tech tools and software are designed to enhance patient treatment and rehabilitation outcomes. Some gamify the physical therapy process, others enable patients to manage their medication regimens more easily, and still others help high-risk patients reduce their likelihood of developing chronic diseases.

14. MiraThe software program utilizes medically validated games to accelerate patient recovery from injury or surgery. The system transforms conventional physical therapy exercises into video games and employs sensors to track and assess patient adherence.

15. PillPackIt is a pharmacy that simplifies medication management processes and provides comprehensive services. PillPack individually packages patients’ medications, organizes them by date and dosing time, and automatically ships them to patients every two weeks. PillPack’s pharmacists also coordinate with patients’ physicians and insurance companies to manage prescription refills.

16. Proteus Digital HealthAn ingestible biomedical sensor has been developed that, in conjunction with a patch and a smartphone, transmits the body’s physiological responses and behavioral data. The Proteus platform enables the capture and analysis of physiological and behavioral data, with applications in patient monitoring, health and fitness tools, clinical trials, and other fields.Click here for more details)

17. AbiogenixWe have developed uBOX, a smart pillbox that reminds users to take their medication on schedule. The portable and highly flexible uBOX promptly notifies family members or physicians and records medication intake to monitor user adherence. It reminds users to take their medication on time through visual alerts (lighting), auditory signals, and message notifications.

18. Omada HealthA pioneer in “digital therapeutics,” it applies clinically validated behavioral medicine to the treatment of chronic diseases. This program helps individuals overcome unhealthy habits, thereby steering them away from serious yet preventable conditions. It also collaborates with corporate employers and health plans, focusing on high-risk populations.Discover Omada’s Secrets to Securing Funding)

Management of Health and Chronic Conditions or Diseases

Both physicians making diagnoses and consumers seeking to improve their health status can leverage high-tech tools for health management or more effective chronic disease management. Some of these tools help healthcare providers stay connected with patients, others assist users in making better daily health-related decisions, while still others enable users to track their health and fitness status or receive timely alerts about their disease symptoms.

19. Propeller HealthIt can help users manage asthma and chronic obstructive pulmonary disease (COPD). Propeller’s inhaler sensors and app can track patients’ medication use, and the app also provides personalized feedback and tutorials to improve asthma control in patients with COPD. Propeller can also help physicians monitor patients’ symptoms and adjust treatment plans at appropriate times. Coincidentally, Malay Gandhi, General Manager of Rock Health, is also optimistic about Propeller Health in2015 Outlook。(COPD-Related Apps: Look Here)

20. TidePoolA series of open-source apps have been developed to reduce the management burden for patients with type 1 diabetes. For example, Blip, which is currently undergoing a pilot study at the University of California, San Francisco (UCSF), serves as a central hub for patients’ diabetes data. In short, Blip leverages data to help users make more informed food choices and better insulin dosing decisions. Following its ongoing closed usability testing, Blip will subsequently proceed to a pilot study.

21. NeumitraTechnologies for measuring and managing brain health are under development. Its biosensing smartwatch monitors the human autonomic nervous system, while its algorithms leverage physiological and statistical models to track acute and chronic stress. The accompanying app contextualizes data collected by the watch within events, locations, and stress-reduction tools, yielding insightful analytics.

22. Rip RoadEnable healthcare providers and health plans to engage with patients via mobile devices, helping them better understand personalized care plans so they can proactively manage their own health. Rip Road helps providers improve patient outcomes by encouraging treatment adherence and promoting positive behavioral changes.

23. KurboIt offers a research-backed program to help children aged 8–18 develop healthy habits, maintain a healthy weight, and boost their self-confidence. Kurbo’s program is specifically designed for children, featuring a traffic-light system to guide food choices, an app for tracking diet and exercise, and support from health coaches.

24. Misfit WearablesDeveloped a series of wearable devices for fitness and sleep tracking, including the Flash fitness and sleep monitor, Beddit sleep monitor, and a companion app capable of tracking food intake, physical activity, sleep, and weight. Users are required to set goals and share them with friends. (See the story of Sonny Vu, founder of Misfit Wearables)Here, seeHere(Learn about the Misfit Shine, whose design rivals that of jewelry)

25. PicnicHealthHelps users manage their health records. PicnicHealth collects and updates user records and synchronizes them with physicians. After registration, Picnic gathers all of a user’s existing records, digitizes them, and continuously updates them. The app displays health information in an interactive timeline and graphical format, and supports storage of medical images.See How PicnicHealth Works)

26. WellframeLeverage a build system to “reengineer” patient care. It employs a platform integrated with existing systems to enhance the efficiency of care management, convert clinical protocols into mobile checklists for patients, enable continuous connectivity between patients and providers, and deliver real-time alerts to providers through predictive algorithms.

27. SkinVisionIt is an app that helps users examine and track their moles to facilitate the early detection and prevention of skin cancer. Users can take photos of their moles using the app’s built-in camera and receive professional recommendations from SkinVision, such as whether to remain at ease, monitor the moles closely and frequently, or consult a doctor. The app also provides advice on UV exposure.

The Story Behind the Developers

Among all health and medical startups, the most undervalued category comprises those that help developers create apps compliant with government regulations on sensitive medical data. It is precisely thanks to their efforts that developers are able to leverage technology to transform people’s perceptions of health and healthcare.

As reported by VentureBeat, the U.S. Office for Civil Rights has recently acknowledged its shortcomings in providing guidance on privacy controls for health devices and apps, pledging to offer more proactive direction in this area. Developers creating healthcare apps aim to establish appropriate privacy controls and data processing policies; however, although current developer guidelines are long outdated, they have yet to receive the critical guidance needed to build HIPAA-compliant apps.

During this period, some startups are simplifying the process for developers to create HIPAA-compliant apps.

28. TrueVaultIt provides a secure API that enables developers to store and process health data while handling all technical requirements mandated by HIPAA. TrueVault revealed that data integration takes only a few days, yet can save months of development time for software, mobile apps, web apps, and wearable devices.

29. AccountableProvides a secure, cloud-based compliance management software that helps startups identify potential internal risks and vulnerabilities, manage agreements with partner organizations, oversee compliance policies and procedures, and conduct HIPAA training for employees. (Further reading:Accountable Makes HIPAA Compliance Easy)

30. Aptibleis an application deployment platform that can automatically handle HIPAA compliance for web and mobile technologies. Startups using Aptible can run their chosen applications and databases, with Aptible managing servers, security, encryption, and other tasks. Aptible can generate documentation, audit logs, and other required materials to demonstrate its compliance. (Learn More About Aptible)

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