InvisionHeart CEO Josh Nickols, PhD, had entrepreneurs and investors talking after
pitching his smart ECG-based company at JumpStart Foundry’s DEMO Day.
“It gives all care providers the ability to access information instantaneously and seamlessly from the point of capture,” Nickols told the crowd of investors and entrepreneurs. “A technician can take that cardiology information and transfer it out to all those involved in the patient’s care.”
InvisionHeart is based on a mobile ECG system, which was developed at Vanderbilt University by Franz Baudenbacher, Department of Biomedical Engineering, and Susan Eagle, Department of Anesthesiology, and cloud-based software that allows doctors and emergency responders to quickly and efficiently capture and review cardiac data.
“About the size of a deck of cards, it functionally replaces the entire ECG unit -- those large, cumbersome rolling cart devices that have a computer on top of them,” Nickols explained. “It’s small enough and powerful enough to be carried inside a lab coat pocket all day long and can be used on a variety of patients.”
In his pitch, Nickols pointed out four important capabilities of the core ECG technology:
- it captures basic measurements such as peak, width and height,
- it can annotate a report,
- it allows for two-way communication between technician and physician, and
- it allows for electronic signatures and eliminates the need for paper.
The second key component of the company is a cloud-based software that is:
- fully encrypted so it is compliant with healthcare law,
- includes EMR integration which enables the technology’s data to port in and dovetail with a hospital systems records, and
- incorporates a waveform interpretation that provides guidance to physician based on patient’s profile.
The biggest benefits to hospitals, Nickols pointed out, include portability and improved workflow, better data management, eliminating need for paper based billing, and eliminating capital expenditure by designing the technology to be used as a contract. On a broader perspective, InvisionHeart’s mobile ECG system will allow patients to utilize smaller clinics or to be at home while still under the doctor's care. This has a potential to significantly reduce costs.
Overall, Nickols estimated the immediate market potential is an estimated $385 million, with growth in subsequent years.
In the spring of 2013, InvisionHeart was selected as one of 10 companies to participate in JumpStart Foundry’s startup accelerator program. Nickols benefited from a 14-week intensive mentorship program. DEMO Day was the culminating event. To learn more about JumpStart Foundry’s program, click here.
InvisionHeart has also been working closely with CTTC’s New Ventures Team to develop its business and financial needs.To learn more about CTTC’s New Ventures Team, click here.