New business model will accelerate adoption of Colorado-based health technology innovations to improve care delivery.
DENVER, CO (September 23, 2015) — Prime Health, Colorado’s digital health ecosystem, today announced that it is has received funding from the Colorado Health Foundation to enhance the connection between proven digital health innovations and the state’s healthcare system.
Prime Health, a non-profit organization, is developing a digital health Value Integrator Model to rapidly qualify and demonstrate clinical efficacy and efficiency of new technology products and services. Through testing and qualification, combined with ongoing delivery system assessments, Prime Health will be able to match new technologies with identified needs supporting the viability of companies as they enter the market.
”Prime Health creates competitive advantage for local digital health companies and the Colorado ecosystem by enhancing entrepreneurial innovation and the integration of that innovation with the state’s healthcare providers,” said Jeffrey Nathanson, CEO of Prime Health. “Unlike organizations focused only on the “incubation” and “acceleration” segments of product development, Prime supports the full product development and implementation cycle by serving as a validator, connector, and community builder.”
According to Goldman Sachs (The Digital Revolution Comes to US Healthcare, July 2015), digital health technologies will bring “affordable, highly efficacious, and easily accessible patient solutions” to market, along with $305 billion in potential savings and over $32 billion in commercial opportunity. Goldman identified efficacy as a key element in technology adoption, citing evaluation criteria as “a user-friendly platform that collects accurate and actionable data, promotes behavioral change, demonstrates results, and protects sensitive information.”
Prime Health believes that testing and adopting digital health innovations can improve access to healthcare, improve patient experience and lower care delivery costs. Prime’s Value Integrator Model will enhance technology adoption in Colorado by:
- Identifying key needs of the Colorado healthcare delivery system and opportunities to deploy digital health products targeting safety net institutions
- Qualifying and curating digital health companies
- Testing clinical efficacy, enhancing care delivery and improving workflow
- Enhancing Investment opportunities through demonstrated proven products and companies
- Quantifying the value of products by innovatively utilizing data resources through condition based outcomes data and predictive analysis
Organizations like the Colorado Health Foundation see an opportunity for digital health products to greatly impact healthcare delivery, specifically in underserved populations. “We see the value of introducing cutting edge private sector solutions to the safety net health system in Colorado because it simply widens the opportunity for more people to receive coordinated, quality care,” said Jesse Wolff, director, Private Sector Initiatives at the Colorado Health Foundation. “Prime’s role as a community builder for our digital health sector is a key function to improving the healthcare delivery system.”
About Prime Health
Established in 2012, Prime Health is a statewide business ecosystem of healthcare administrators, providers, technologists, academics, entrepreneurs and investors commercializing emerging digital health technologies to improve health outcomes and patient experience and lower healthcare costs. The organization represents over 125 Colorado-based digital health companies and more than 1,200 collaborators, with grassroots chapters in Denver, Boulder, Centennial, Colorado Springs and Fort Collins. Ranking among the top 10 digital health ecosystems nationally, Prime Health’s goal is to make Colorado the top Digital Health and Health Innovation state in the U.S. by 2020.
About the Colorado Health Foundation
The Colorado Health Foundation works to make Colorado the healthiest state in the nation by ensuring that all Colorado kids are fit and healthy and that all Coloradans achieve stable, affordable and adequate health coverage to improve their health with support from a network of primary health care and community services. To advance our mission, the Foundation engages the community through grant making, public policy and advocacy, private sector engagement, strategic communications, evaluation for learning and assessment and by operating primary care residency training programs. For more information, please visit www.ColoradoHealth.org.