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This NYC Startup Leverages Social Determinants in Healthcare

first_img Filed Under: #NYCTech, AlleyTalk, HealthTech, Interviews, Launching in the Alley, News, Startups Tagged With: manik bhat This NYC Startup Leverages Social Determinants in HealthcareApril 11, 2017 by AlleyWatch 354SHARESFacebookTwitterLinkedin Healthify is a SaaS platform that helps managed care plans take into account the social needs of patients (food, housing, mental health) to improve outcomes, reduce costs, and improve delivery. Current customers on the platform include Howard University Hospital, Morehouse School of Medicine, Village, Care, and John Hopkins Healthcare. The company has raised $3M in funding from investors that include Primary Venture Partners, Milestone Venture Partners, Blue Cross Blue Shield, and Blueprint Health.AlleyWatch chatted with CEO and cofounder Manik Bhat about the company and how it is leveraging social determinants as an indicator in the healthcare setting.Tell us about the product or service.Healthify’s mission is to build a world where no one’s health is hindered by their need. To achieve this, we provide a platform to manage the social determinants of health (food, housing, childcare, etc) for vulnerable populations. We help healthcare and government organizations alike search for community services, track referrals, and coordinate with community partners.How is it different?Many people in the space focus on increasing access to information on social services. We focus on full coordination of the service to make sure that someone’s need is fully addressed.Manik BhatWhat market are you attacking and how big is it?We are primarily focused in the healthcare market targeting Medicaid/Medicare insurers and large health systems. It is >$2B market and growing.What is the business model?We pursue a per user per month pricing model that scales up with features and scales down with volume.What inspired the business?Many of the founders got a start doing community health work in Baltimore (pediatric clinic) and saw the problem first hand.Why are you the right team to tackle this problem?We have a strong mix of technical expertise and knowledge of the problem on the ground.What are the milestones that you plan to achieve within six months?We plan to fully launch our new coordinate product, enter into 7 more markets, and double the team size.What is the one piece of startup advice that you never got?Invest in culture. As one grows it needs to be maintained and cultivated.If you could be put in touch with anyone in the New York community who would it be and why?Michael Bloomberg.Why did you launch in New York?Strong access to investors, talent, and evolving health systems due to policy at the state level.Where is your favorite bar in the city for an after work drink?Decibel sake bar.center_img PREVIOUS POSTNEXT POSTlast_img read more