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This global health event could fundamentally change the way healthcare is delivered in the future and ultimately drive a shift toward a more preventative and patient-centric system. Many of the technologies and business models being accelerated by COVID-19 are in line with our theses around digital health. Below, we highlight how ACME's portfolio companies have mobilized to solve some of the critical challenges related to the COVID-19 crisis - from rapid point-of-care testing to remote monitoring and telehealth.
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Connected diagnostics will change the way we diagnose and treat infectious disease
In the future, we believe a network of connected clinical and at-home diagnostic devices will provide actionable health data that will help to solve some of the biggest global healthcare problems. |
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Cue Health
Cue Health, which develops and manufactures connected medical diagnostic products, was recently awarded an additional $13 million grant in March 2020 to accelerate the development, validation, and FDA clearance of itsa rapid and portable point-of-care molecular COVID-19 test capable of delivering results in less than 25 minutes. The company will use the funding, which was awarded by BARDA (Biomedical Advanced Research and Development Authority), the federal agency charged with securing our nation from biological threats such as pandemic influenza and emerging infectious diseases, to scale-up production in order to facilitate on-the-ground management of this pandemic cycle and prepare for similar infectious disease outbreaks in the future. Cue Health has been working with the BARDA team for the past two years to develop a 20-minute molecular influenza test designed for home and point-of-care use.
“Our ultimate goal is to change the way professionals and consumers access important health information. We plan to equip thousands of clinics, schools, eldercare facilities and homes with affordable, rapid and accurate testing capabilities. That infrastructure would enable on-demand diagnostic testing for families, and in the case of a viral or other biothreat, the ability to monitor a global, connected network producing real-time epidemiological data.”
-Ayub Khattak, CEO of Cue Health
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Remote patient monitoring will become a foundational part of a preventative healthcare system
Remote monitoring will play a critical role in combating COVID-19 in the near term. Longer-term, the solutions adopted now will be used for early detection of potentially acute issues in individuals with chronic conditions to improve clinical outcomes and reduce healthcare costs.
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AIRx Health
AIRx Health, a remote monitoring platform for chronic conditions, launched “End COVID-19,” a daily monitoring system to help healthcare systems scale care of COVID-19 patients and support frontline healthcare workers.AIRx’s HIPAA-compliant system automates daily check ins with COVID-19 patients or medical staff, collecting clinical data via voice or text communication and securely transmitting it to health systems, allowing care providers to dynamically and longitudinally track patients’ symptoms and vitals. The company’s system, which reduces the overall need for direct patient-provider contact, should help to slow the rapid spread of COVID-19, ease the burden on U.S. healthcare systems, and provide critical data that will allow government leaders to forecast future spikes and optimize response planning.
“As this pandemic continues to expand, our health systems will become increasingly strained. The End COVID-19 platform provides a significantly more efficient and scalable way for medical teams to monitor patients, effectively enabling a single healthcare worker to ‘talk’ to thousands of patients simultaneously. The platform also provides a crucial mechanism for monitoring the incredibly vulnerable frontline healthcare workers, who are risking their lives to take care of COVID-19 patients workforce to ensure the virus isn’t spread in the hospital environment.”
-Vijay Rajasekhar, MD, Founder, AIRx Health
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A tipping point for telehealth
The COVID-19 pandemic is pushing the once-niche telemedicine industry into the mainstream. Since late February, the Center for Disease Control and the World Health Organization have urged health professionals to avoid seeing patients in-person and use telemedicine for all non-essential medical needs. The U.S. government has also waived a number of restrictions around reimbursement for telehealth services, paving the way for rapid, widespread adoption.
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Doctor on Demand
Doctor on Demand is offering patients “first line of defense” services, including a free online COVID-19 risk assessment screening tool. If a high-risk patient is identified, they are immediately directed to consult with a doctor through phone or video. Patients are also able to participate in free interactive informational webinars called “group visits,” which are hosted by Doctor on Demand Medical Directors.
“We’re seeing the capacity of the US healthcare infrastructure being strained in unprecedented ways. This is particularly true of the telehealth industry. This is the first time we are seeing government officials, providers, health plans and employers recommend telehealth as the first choice for care, as opposed to an alternative.”
-Robin Glass, president at Doctor on Demand
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Tia
Tia, the next-gen vertically integrated women's health platform, quickly ramped to 100% virtual care that offers general health, mental health, and COVID-19 risk assessment through video as well asynchronous chat for care coordination.
The new platform is allowing scaled care to many more patients in this critical time, where access to non COVID-19 physical care is non-existent in most cities. As a brand with potential to reach beyond patients in NYC, Tia has been equipping women with educational content via emails, blog posts, and social media. Tia’s prioritization of health education during the unfolding pandemic helps position Tia as the go-to trusted health brand for women.
“With a close pulse on market changes and our women’s wants and needs, we see an opportunity to double down on a distinctly Tia virtual care offering.”
-Carolyn Witte, Founder, Tia
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