BIG IdeaBounce 2024 | 14 Finalists Dazzle In SharkTank Contest

Team Oheada

School Affiliation: Dartmouth Tuck

Description: Digital health platform that focuses on wellness visits and social determinants of health for hospitals.

Problem:

Hospitals are missing out on opportunities to minimize avoidable readmissions and generate additional patient volume (to increase revenue).

Why?

Hospitals lack the digital expertise and capabilities to expand beyond its four walls to reach at-risk patients and collect social determinants of health (SDoH) insights that lead to lower readmission rates and higher revenue generation.

Solution:

An evidence-based and personalized wellness visit platform that digitally captures the patient’s physical, behavioral, and environmental experience within the home to improve cost of care savings and increase revenue for hospitals.

Market:

Target customers are hospitals whose payer mix is starting to lean heavily towards Medicare patients. The type of hospital will have to be a non-rural hospital as well.

• Medicare patients are growing around 6-8% per year as the number of Americans grow older. As of 2021, there are over 58 million members on Medicare
• The U.S. healthcare software market is estimated to grow at 19.2% CAGR from 2023-2030. Currently it is a $14B industry
• According to CDC and other health sources, less than 40% of patients per year will utilize an annual wellness visit even though it is free for the patient and helps hospitals better manage patients in the future

Competition:

What makes my product different and hard for competitors to imitate?

• The proprietary assessments (i.e. wellness + SDoH) provided to the patients in their homes. The assessments are created from CMS and RAND validated guidelines. The assessments can also be uniquely tailored depending on what hospitals are wanting to measure within their population
• The data that is collected from the visits and how that data is integrated into the hospital’s EMR to generate insights and next steps for providers and care coordinators

There are a few similar competitors like Signify Health, Help-At-Home, and NaviHealth. However, they’re distinct from my solution because Oheada is focused solely on wellness visits and social determinants of health. Furthermore, we’re only targeting hospitals.

• Signify Health is a health-risk assessment vendor focused on payors and bought by CVS
• Help-at-Home is PE backed and is probably the closest competitor; however, they don’t integrate with hospital EMRs since they’re more urgent care and home health focused
• NaviHealth focuses on post-acute discharges from hospitals and is now expanding that model for payors and providers

Value Creation:

• The ability to leverage digital capabilities and conducting assessments at home to increase engagement with patients who would otherwise forgo a visit in the hospital, which will drive up volume and revenue for hospitals
• Reliable and standardized SDoH data that ties to social service referrals and population health analytics
• Digital, secure, and integrable with hospital’s current EMR, patient portal, and workflows

The Team:

Alix Faulker, MBA 2025, and Chris Bloomer, MBA 2025