EFTA01092081

EFTA01092081 Agenda •Team •Background & Problem •Solution •Market •Direction •Financials & Summary EFTA01092082 ChartWorks: Management Team • Michael Zalis MD: founder, chairman of MAB, board member • Associate Professor, HMS, Interventional Radiology MGH • Director QPID Informatics MGH • BA: Biophysics, U. Penn; MD: U. Virginia; Visiting Prof, Stanford • Mitchell Harris PhD: founder, chief scientist • Chief Architect, QPID Informatics MGH • BA: CS, Cornell; PhD: CS, U. Illinois, Champagne - Urbana • TBH: • CFO • VP Engineering • VP Sales EFTA01092083 Background & Market Opportunity • Electronic Record (EHR): 1st Wave Digital Infrastructure • Key element: the health record data silo • ACO model: promotes efficiency & quality as revenue drivers EFTA01092084 Background & Market Opportunity • But for EHR users, hard to find "What I need to know now" • Problems with EHR systems: • Primitive search • Passive data • Difficult navigation • Leads to: • Underutilization of information • Error and inefficiency EFTA01092085 Background & Market Opportunity Clinicians seek: •Better integration of information into work How? •programmable, conceptual search •automation & awareness •improved navigation EFTA01092086 ChartWorks Solution: QPID • Enterprise health intelligence platform • Decision support software for exception handling & screening • Trainable based on input from user base • Suite of department -specific configurations • Consists of: • EHR search engine, scalable library of HIPAA-compliant concept queries • programming system for app development • Anonymous capture of user activity stimulated by information presentation • What distinguishes QPID: • 'in the trench' clinical focus; configurable information retrieval; ease of integration into workflow • Business Model: initially software product; will evolve to data product • Software product decreases cost and improves revenue for customer • Data capture valuable for benchmarking, L ~.,,preve,,,ei.t • customers: hospitals and affiliated group practices (ACO's) EFTA01092087 0 EFTA01092088 0 TR ChartWorks Solution: QPID Key Features: Record users' Sq'OrrAted MatAfic search `No-click' navigatio n + information retrieval by concept associations. tap entire triR 9' (from notes to codes) dramatically 9 improve utility of EHR Improve quality, revenue, & efficiency of care EFTA01092089 0 ChartWorks Solution: QPID Testimonial: "I've died and gone to QPID heaven. serious...can I share this with my colleagues?" C. Kotton MD, ID attending, MGH "I consider QPID to be the Google of the EHR" J. Noga, CIO Partners Healthcare Inc. + dramatically improve utility of EHR EFTA01092090 • Focus is clinical: workflow improvement, risk reduction • Emergency: PMH overview for "don't miss" issues & meds • Gastroenterology: Pre-procedure screening • Anesthesia: O.R. and pre-sedation management • Imaging: MRI safety, utilization management, procedure in- take • Additional Benefits: administrative efficiency & revenue gain • Coding optimization • Global QA/QI: palliative care, Imaging utilization, PQRI, MU • QPIDTM data capture: • Saved queries reflect what clinicians are thinking • Action buttons on applications capture activity that reflects • Value of information to user & patte EFTA01092091 -rf ChartWorks QPID t: ROI • Clinical • Palliative care: 3X screening MGH; $750K new revenue 2009 • Interventional Radiology MGH: 8X reduction in-take time • Imaging Utilization: 5% decrease un-necessary CT / MRI • Diabetes Management, MGH: 93+% accuracy; all MGH OR's • ED: 80-100+% PPV for PMH summaries; all ED patients • Administrative • Coding optimization: 165% increase claim processing; decrease claims receivable • PQRS: 1st Q 2011: $200K revenu , • Data • GI: 50% benchmark engagement; 10 practice modification EFTA01092092 IT or : *origin • Conceived in 2005, launched 2007 at MGH • With partner, Mitchell Harris PhD • Funded internally • Grown virally, used by clinicians and administrators • —40% engagement MGH, with version 1 product • 2M clinical search requests per month • 6,000 patients touched per day • Generating revenue: —$300K FY 2011 • Strong financial commitment • MGH admin: $ 2M investment over 3 years EFTA01092093 c' D ChartWorks Testimonial: "QPID is AWESOME" B. Monash MD, chief resident, med-peds "I'm ready to buy the whole [QPID] car" E. Mort MD, MGH Center for Quality and Safety "You all are clearly ahead on this" J. Halamka, CIO HMS / BIDMC + dramatically improve utility of EHR EFTA01092094 ChartWorks: Market • Customer Categories by size: • Integrated Delivery Networks (IDN's): • Large hospitals (300+) • Community based hospital • Affiliated large group practice • Identify initial customer targets based on: • Size (clinical volume) • Degree of EHR implementation • Similarity of EHR platform • Five key clinical expansion areas within customer base: • Imaging, GI, Emergency, Oncology, Cardiology + dramatically improve utility of EHR EFTA01092095 ChartWorks: Go-to-Market • Sales Approach • Direct Sale • Clinical Focus (CMO, department heads) • Regional approach • Initial Business Development • Partnerships with EHR vendors • Value to ChartWorks: qualified lead generation • Value to partner: enhances customer experience • ChartWorks complements existing data silos & software • Allscripts, Athena, Cerner, eClinical. Epic and Meditech EFTA01092096 ChartWorks: Competition • EHR vendors • Allscripts, Cerner, GE Medical, IBM, Meditech, McKesson, eClinicalWorks, Epic, and Eclipsys • Consumer Search Application • Autonomy, Microsoft • Direct Competitors • Healthcare Informatics companies • MedVentive, Zynx Health, Apixio • Share of wallet I EFTA01092097 EFTA01092098 These are features that were added in 2010 2011 2012 Features virtualization complete coding. In. deploy online authoring complete indexing, database upgrades GI. IR. Emergency patient medicine. cardiology. Radiology produce products system Al support for improved search products coding optimization complete 'Consult Hub' product accuracy roll-out trust and user- rating system for product technical updates: autosuggest and spell check: UI improvements throughout product line complete MU application write back to silo modules EFTA01092099 VATRis s: onger erm • Evolve from SaaS software to Contributed Data Model • Initially sell: software to improve efficiency & revenue • Move to: capturing data for benchmarking, efficiency and quality improvement • Use cloud infrastructure to permit aggregation of data capture and benchmarking across sites • Analytics & search insights become valuable to customers • Substrate for customer CQI • Works with ACO model: improv efficiency • Analytics product may attract advertiser interest EFTA01092100 lirlfaVitWaint Customers: target size hospitals New Cysican I Int I rent rend 1 ear 4 le n3 tar 6 140. IN 3c 4 cm I re* In. 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M0IIG O55IIG 71.0 EFTA01092104 ChartWorks: Proposal • Series A raise: $4.5 million • Build out senior management team • Continue product road map • Commercial product launch • Hire initial sales executives & team • The exit: • EHR partner • Healthcare -focused software/consulting vendor (IBM) • Healthcare information exchange vendor (Microsoft) EFTA01092105 • Michael Zalis MD • email: • Tel: EFTA01092106