Bold claim: ‘an operating system for the entire healthcare industry’
January 12, 2015 in Medical Technology
One school of thought suggests that interoperability between electronic health records systems is not a technological problem, rather itâ€™s a business model and political matter.
Regardless, it remains a monster problem that many parties are working to solve, from high-powered policymakers to high-tech entrepreneurs.
[See also: Sermo acquired by WorldOne]
“EHRs have become roach motels,” said par8o CEO Daniel Palastrant, MD evoking the old Black Flag insect trap commercial. “The data goes in but itâ€™s really hard to get it out.”
To be clear: This is not another story about blame. Palestrant, in fact, stopped short of pointing fingers at any specific EHR vendor â€”perhaps because par8o doesnâ€™t exactly need their cooperation.
Palestrant, founder and former CEO of online physician community SERMO, is officially unveiling par8o as a new company on Monday at the JP Morgan Healthcare Conference in San Francisco â€” and, in so doing, touting par8o as “an operating system for the entire healthcare industry.”
[See also: Interoperability 'taking so darn long']
“Much like iOS or Android operating systems tie together the user experience with apps on your phone, we do that in healthcare: Tie together payers with providers and patients,” he explained.
The big idea or catchphrase is to match the right patient to the right resources at the right time.
‘Blue sky’ roots
About three and half years ago, just as the Affordable Care Act was coming to a head, Johnson Johnson “wanted to do something blue sky,” in Palestrantâ€™s words â€“ so they invited him to a meeting.
â€śMy theory was that as more people came into the insurance pool, we were all going to have to do a lot more with less,â€ť Palestrant said.
JJ ultimately awarded Palestrant a $2 million grant, money that turned into the seed for par8o technology. Then when SERMO was acquired by WorldOne in 2012, Palestrant and SERMO co-founder Adam Sharp, MD, spun off par8o.
The company has been relatively quiet since, issuing only a single press release just last week announcing $10.5 million in Series A funding from Atlas Ventures, Founder Collective, CHV Capital, among others.
But Mondayâ€™s coming out party for par80 is about more than venture capital. Itâ€™s about proof.
â€śWe feel we have enough data and experience that we can stand behind this,â€ť Palestrant said.Â Â Â Â