Si66: Poised to Disrupt Pharma Sales Industry, Santa Fe Startup Gains Attention of Global Healthcare PlayersPosted on December 14, 2016
The goal of the Xpress platform is to provide a so-called ‘middleware’ solution that takes information about all the drugs on the market—including their benefits, side effects and costs, as well as the coverage rules of insurance companies and clinical trials—and integrates it into one searchable screen that makes it easy for doctors to pull that up next to their patients’ records to find the drugs that best fit their health needs and budget. It also shows when resources are available from drug companies to help patients whose insurance won’t cover costly drugs they might need.
Executives across the Texas Medical Center got to know the 12 TMCx companies a little more intimately as they listened to them pitch their digital health care innovation. The companies are part of TMCx’s second installment, focused on digital health care, and serves as one of the core components of the Texas Medical Center’s (TMC) Innovation Institute.
Digital health entrepreneurs aim to move a spark of an idea into the medical marketplace.
“TMCx companies have access to the largest collection of top physicians, scientists and business expertise on one campus, which serves over 7.2 million patients annually. The new program structure will make the best use of these important resources.”
Texas Medical Center unveils the second class of its digital health accelerator, TMCx. The program was formally launched as a partnership between TMC and Village Capital, a Washington DC-based VC firm, in December 2014.
“Bringing 13 companies together, each of them focused on different aspects of digital healthcare innovation, will foster an incredible synergy that can lead to unpredictable associations, collaborations and greater acceleration for each company,” Erik Halvorsen, director of the TMC Innovation Institute, said in a press release.
Texas Medical Center added a second class of startups to its accelerator program and acknowledged that it has tweaked its approach.Although the second group will focus on digital health, the next cohort starting in July will be devoted to medical device innovation.
In Corbitt’s words, Xpress combines two business models: the drug rep and that of delivery services such as UPS or FedEx.