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LOS GATOS, CA, January 11, 2023 /24-7PressRelease/ -- CAREMINDr gets listed on THE OCMX™
Formed in the 1960's, the Federally Qualified Health Center system today cares for about 30 million patients each year through 1,400 independently governed "Community Health Centers". It comprises the largest primary care system in the U.S.
CAREMINDr is a technology company that works with these Health Centers to provide care to patients whose conditions last for extended periods. These include chronic conditions, such as hypertension and diabetes, and long duration care for depression, pregnancy + infancy, and opioid treatments.
The OCMX™ is pleased to announce the listing of CAREMINDr to its online portal which offers financial networks the ability to learn more about this exciting opportunity.
The OCMX™ has spent considerable time completing its due diligence on CAREMINDr and concluded that there is indeed a tremendous potential for this company.
The OCMX™ noted that CAREMINDr exhibits the main components of any solid opportunity, namely a solid management team, a great track record, and several key competitive advantages.
PROBLEM THEY'RE SOLVING
CAREMINDr provides a powerful platform that maintains an ongoing dialog between a patient and their doctor between office visits. To do this it delivers specific technology resources:
• A tailored cell phone app linking to Health Center resources and 1-click contact to key activities,
• Communication, automated and condition-specific, that gathers data about a patient's health status,
• Analysis of all patient responses using automated intelligence,
• Triage so that the Health Center can ID patients who need immediate attention, and
• Reporting to inform Providers (doctors, pharmacists, counselors, social workers) and Sr. Management about their program's overall progress, and the care management success as it is being achieved.
WHERE THEY ARE HEADED
Today CAREMINDr works with about 40 health centers across the U.S., serving thousands of patients in a wide range of care management. Most of these health centers now in their 2nd year of using CAREMINDr as an essential part of the way they provide care.
There is irrefutable client program data that CAREMINDr's approach SIGNIGFICANTLY CHANGES OUTCOMES: health improvements at scale, requiring little or no investment in additional staff, and achieving treatment to goal at levels and speeds previously thought to be "impossible" (per a direct quote from a Blue Cross Medical Director).
CAREMINDr programs, within the first 30 days, have consistently "converted" about 50% of the patients who initially had uncontrolled hypertension, to "in control" status. (per the NCQA guidelines for HTN). This improvement in health status, across a large ambulatory large community, is unprecedented.
• Achieving "in control" status greatly reduces the odds of experiencing a poor outcome.
• Greatly reducing the odds for strokes, heart attacks, and cardiovascular disease is of enormous value to the patient, and professionally satisfying to their doctor and the entire care team.
• However, the greatest monetary value is to the Payor responsible for financing the cost of each patient's care. Significantly reducing the number of hospitalizations, along with extended care and recovery, achieves MASSIVE SAVINGS.
• The fees earned by CAREMINDr for providing services to the Community Health Centers is only about 1% of the monetary value gained by that patient's risk-bearing insurer.
• Reducing the loss-ratio is the game-changing capability that CAREMINDr represents for Medicaid HMOs, Medicare Advantage Plans, Commercial Insurers (including Blue Plans) and TPAs with their Self-Insured Employers. This dovetails perfectly with the current industry-wide transformation in the way providers are to be paid: shifting from "activity-based" payments (e.g., CPT codes) to "value-based or outcome-based" Alternative Payment Models.
• This change is already underway in the Community Health Centers; it is projected to extend to the entire U.S. provider system by 2030 according to CMS.
Harry Soza – President & Chief Executive Officer
25+ years in senior management and leading start-ups out of which 4 were venture-backed companies. Resolution Health (2007: sold to WellPoint, $150M), Preferred Solutions (1996: sold to PacifiCare, $32M) and two smaller tech companies (exits: non-public acquisition). MSEE-Stanford University; BSEE-University of Notre Dame
Dan White – Chief Financial Officer
Founder/Member of eight (8) successful startups during 25+ years in Silicon Valley. B.A., Economics, Swarthmore College; M.B.A., Accounting and Finance, University of Chicago.
Randy Coatney – Chief Operations Officer
25+ years of experience with technology and data companies in the health care industry. Member of Founding team in three successful start-up companies, venture financed. B.S. – Iowa State University, Executive MBA – University of Colorado.
Dr. Irina Yermilov – Chief Medical Officer
10+ years experience in measuring cost and quality outcomes via claims & supplemental data, Consultant – UCLA Education & Research Institute Research Resident – RAND Corporation, General Surgery Residency – UCLA. 40+ Professional Publications & Abstracts.
• CAREMINDr represents an extraordinary opportunity for investors, but one where the liquidity valuation is not based on the traditional financial metrics, such as the Income Statement.
• CAREMINDr's valuation at a liquidity event most likely be driven by the value being delivered to the risk-bearing financial entities who finance healthcare. We believe this can be a very high double-digit multiple of annual revenue – because the value delivered to risk-bearers is very high.
• This concept of very high valuation is exactly what occurred in the previous healthcare company founded by CAREMINDr's CEO – and it is the goal/rationale through which all current management strategies are premised.
ABOUT THE OCMX™
The OCMX™, established in 2009, is a next generation investor relations and marketing outreach firm. Through our online OCMX portal, we connect companies with financial networks, generating interest and awareness for their opportunity.
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Toronto, Ontario, M5J 2S1
Email: [email protected]
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