Photo - ProtectedBy.AI Healthcare
49921

ProtectedBy.AI Healthcare

Artificial Intelligence Enabled Electronic Health Records

USA, Virginia
Market: Medicine, Insurance, Pharmacology, Blockchain, Artificial Intelligence
Stage of the project: Idea or something is already done

Date of last change: 01.11.2020
Rating
equalizer from 2000
help
Calculated and estimated occupancy of the project (more about ratings)
My rating
1
2
3
4
5
6
7
8
9
10
Average rating:

Idea

SAIGE brings Artificial Intelligence and Blockchain to one of the fastest-growing and underserved markets in history: Electronic Health Records (EHR).

Current Status

At this time we have developed IP that is ready to be filed (with available funding).

The development team is in place for MVP to be available in 6-months.

Pilot agreements are being negotiated with two U.S. hospital brands and one international medical system.

Market

From a respectable market size of $25.5 billion in 2018, the EHR market is seeing a Compound Annual Growth Rate of 5.5%

The market already reached $31 billion by 2019, with projections of reaching $40 billion by 2025.

We have a three-tier market strategy to include U.S. Government, Commercial and International clients.



Problem or Opportunity

The challenges with all current EHR systems comes down to four things: They are…

o Not Efficient
o Not Integrated
o Not Secure
o Not Searchable

In short, they are all based on 1980’s technology – and none use Artificial Intelligence or Machine Learning.

In 2012, the US Congress passed a new law – the Patient Protection and Affordable Care Act. While doubtless well-intentioned, the PPACA proved to be so controversial that it was immediately challenged in the US Supreme Court as being unconstitutional. Failing that challenge, by 2014 the PPACA went into effect.

In short, the law required ALL healthcare practitioners to start using Electronic Health Records. What became immediately clear to everyone was that EHRs were not intended to help facilitate, let alone optimize, healthcare.

EHRs were being deployed to help insurance companies constrain and control their costs and improve their profits. Not surprisingly, physicians, nurses – and everyone in healthcare – quickly came to hate EHRs

Solution (product or service)

SAIGE:

o Incorporates Direct, Passive, OCR, and IoT Data Input
o SAIGE Seamlessly Integrates Structured, Unstructured and Ambient Signal Data
o The SAIGE Platform leverages Blockchain-Based Encrypted File Transfer capabilities
o And perhaps most importantly, SAIGE is based on AI-Enabled capabilities for Pattern Discovery, Anomaly Detection, and Forecasting

We are developing SAIGE as a stand-alone product to replace current EHRs – or as a module that can be integrated into any current EHR platform

Competitors

The most attractive aspect of this market is that there are presently very few major competitors…and they are all widely despised.

Leading the pack… Three goliaths – Epic, Cerner, and Medtech – that collectively account for 72% of market share.

Our ultimate strategy – our exit strategy – is to sufficiently disturb the EHR market over the next three to five years to encourage acquisition conversations from any of our primary competitors.

We think of it as the Instagram strategy; introducing capabilities and garnering just enough market share to make it far more attractive to acquire us than to compete with the value of our IP.

Advantages or differentiators

Unlike our competitors, our product:

o Incorporates Direct, Passive, OCR, and IoT Data Input
o SAIGE Seamlessly Integrates Structured, Unstructured and Ambient Signal Data
o The SAIGE Platform leverages Blockchain-Based Encrypted File Transfer capabilities
o And perhaps most importantly, SAIGE is based on AI-Enabled capabilities for Pattern Discovery, Anomaly Detection, and Forecasting

We are developing SAIGE as a stand-alone product to replace current EHRs – or as a module that can be integrated into any current EHR platform

Bet the Jockey:

Our team is led by Dr. JT Kostman and Brian Gallagher.
 Both JT and Brian started their careers as Paramedics – and went on to careers in public service before entering the private sector
 JT is a former Special Forces Soldier – and is now widely considered to be the world’s leading expert on Applied Artificial Intelligence and Cognitive Computing. He has held C-Level positions with Time Inc and Samsung and has been on the Board of numerous startups.
 Brian spent a decade serving with the US Secret Service before launching a career as an international serial entrepreneur.
 Brian and JT came together to found Protected By AI with the goal of providing their clients with Peace of Mind through Superior Technology.

Finance

We conservatively project there to be rather significant opportunities – but we are purposely keeping our expectations and projections hyper-conservative

With a current market valuation of $31 billion dollars, ee are projecting taking one-tenth of one percent from our vulnerable competitors – all of whom are disliked, and are relying on grossly inferior technology.

For this, our Seed Round, we are seeking $3 million. Seed Funding will be used primarily to support the R&D and IP development roadmap we have already outlined. We have outlined an 18-month burn rate of $165,000/month.

The goals for our Series A – targeted to begin in 9 to 12 months – will be to raise an additional $10 million. Series A Funding will be used primarily for BD, Marketing, and Sales.

Our goal will be to rapidly acquire enough market share to make us an attractive acquisition target.

We expect that we will not have to do an initial raise beyond Series A – as we intend to position ourselves for acquisition within 24-36 months for a target acquisition north of $250 million

Business model

We will be pursuing two simultaneous paths:
o We will be competing head-on with the dominant players
o While at the same time, courting them as customers and eventual acquirers

We are building SAIGE to be the “Intel Inside” of EHR – and we will have the option of licensing our soon to be patented technology to any EHR or Medical provider. For those who don’t want to license and use our capabilities? We intend to go head-to-head with them, disrupt the market – and acquire market share – in three ways:

In the Commercial sector, we are combining two approaches:

We intend to meet the needs of the rapidly growing group of frustrated and former clients of the “Big 3” and take food off their plates; a strategy we expect will occasion rather considerable opportunity

To take that business fr om them, we will be recruiting sales leaders from our competitors to facilitate acquiring a portion of the customers they are infuriating.

In serving the U.S. Government, we are combining two approaches:

Our parent company, Protected By AI, is certified as a Service Disabled Veteran Owned Small Business by the US Department of Veterans Affairs. This status gives us access to opportunities that Federal Law – and, the US Supreme Court has recently ruled, must be awarded to companies holding our status as sole-source and set-aside opportunities. We will also be leveraging current customer relationships with the many US government agencies and departments we have served and the strategic relationships our co-founders and Board Members have maintained with innumerable high-level politicians, government officials, departments, and agencies

Our international strategy leverages the multi-national relationships, significant opportunities, and sales channels we have established around the world. This has already led to discussions for beta-testing SAIGE on a national level.

By positioning our Artificial Intelligence capabilities as a “must-have”, and protecting SAIGE as our Intellectual Property, we create a circumstance wh ere the primary competitors have no choice but to license our capabilities – or acquire us

Money will be spent on

Seed Funding will be used primarily to support the R&D and IP development roadmap we have already outlined

Series A Funding will be used primarily for BD, Marketing, and Sales.

Offer for investor

For this, our Seed Round, we are seeking $3 million for a 10% equity stake

Team or Management

Risks

Our biggest risk is time to market with our MVP and securing available funding for development.

Incubation/Acceleration programs accomplishment

Dr. Kostman is on the board of the Alchemist Accelerator.

Invention/Patent

We have identified IP. Seed funding will go towards securing IP with patent applications.

Photos

Photo 1 - Artificial Intelligence Enabled Electronic Health Records

Product Video

5,00
1
2
3
4
5
1 voice
Sign in/Sign up
arrow_back
EN
more_horiz
close
visibility43
star1
Add to favorites
Delete from favorites
share
close
thumb_up1
Like
Unlike
Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video