Posts Tagged ‘funding’
How can a data analytics platform and AI transform patient outcomes and improve care?
Cardihab CEO Helen Souris talks to Talking HealthTech's Peter Birch about the power behind a new data analytics program called C.R.O.P.S—Cardiac Rehabilitation Outcomes and Process Synopsis—currently under development by the Cardihab team.
To learn more about the C.R.O.P.S solution please get in contact with our team.
Funding provided to help delivery of virtual Cardiac Rehabilitation to communities throughout Queensland
Many Queensland patients will soon have access to Cardihab’s Digital Cardiac Rehabilitation program thanks to grant funding support of $250,000 from the Department of Tourism, Innovation and Sport and Advance Queensland.
Cardihab’s virtual Cardiac Rehabilitation platform, which is currently being used by Mater Private Hospital Townsville patients, will be further deployed throughout Mater’s extensive Queensland hospital networks to improve efficiencies and address accessibility issues that have long plagued many regions of Australia in relation to critical healthcare needs, in particular Cardiovascular Disease (CVD) treatment and ongoing management.
The funding will go towards the development of the project titled: Delivering Equitable Access Through Digital Health Innovation | Virtual Cardiac Rehabilitation For Queensland Regional And Remote Communities Program. The project will see the Mater Private Hospital Townsville Cardiac Rehabilitation team become the central hub for delivery of the virtual CR program and will service the entire state of Queensland with referrals from Mater Brisbane, Mater Rockhampton, Mater Mackay and Mater Bundaberg.
The Cardihab program enables people from rural and remote communities to recover from cardiac procedures or events from the comfort of home, while receiving quality virtual cardiac rehabilitation care under the guidance of Mater Private Hospital Townsville clinicians.
As a leading cause of morbidity and mortality nationally, and with a rising cost to the Australian healthcare system of over $1 billion per month¹, the urgency to develop efficient and effective care solutions for people living with cardiovascular disease is significant.
Cardiac Rehabilitation programs provide long-term behavioral strategies that are critical to the management of cardiovascular disease. Despite its proven effectiveness, attendance rates are persistently low with only 10-30% of eligible people attending traditional facility-based programs².
With Queensland listed at number 2 on the Heart Foundation national heart disease geographic hotspots ranking, improving access to cardiac rehabilitation is an urgent statewide imperative with regional and rural communities identified as the greatest at need.
Mater Group CEO Peter Steer spoke about their commitment to innovation in providing quality care.
“Mater is at the forefront of the wave of innovation that is changing the way healthcare providers work.
We can now reach and support patients in the most remote parts of our state through new virtual services, providing world class healthcare for all.”
Mater Private Hospital Townsville is the largest private cardiac facility north of Brisbane and will use the Cardihab digital therapeutic solution and apps to provide cardiac rehabilitation to 300 public and private patients across the state over the next 12 months.
Cardihab CEO Helen Souris says, “we are proud to be working with the visionary leaders and healthcare teams at the Mater, who understand the vital need for digitally enabled care, to overcome the challenges of traditional centre-based models, particularly in regional areas.”
“Our virtual care hub will lead the way in enabling digital care to become a scalable and sustainable modality that delivers improvements in access to care and outcomes for patients and communities.
We are grateful to have the support of the Queensland Government and Advance Queensland for this collaboration.”
The initiative is part of the Queensland Government’s commitment of $142 million towards the Advance Queensland Innovation for a Future Economy 2022-2032 roadmap aimed at driving innovation, entrepreneurship and jobs.
References:
1. Assessing the quality of cardiac rehabilitation programs by measuring adherence to the Australian quality indicators. C. M. Astley1*, A. Beleigoli1 , R. Tavella2,3, J. Hendriks1,4, C. Gallagher4 , R. Tirimacco5 , G. Wilson5 , T. Barry5 and R. A. Clark1; March 2021.
2. Home-Based Cardiac Rehabilitation: A Scientific Statement From the American Association of Cardiovascular and Pulmonary Rehabilitation, the American Heart Association, and the American College of Cardiology. Randal J. Thomas, Alexis L. Beatty, Theresa M. Beckie, LaPrincess C. Brewer, Todd M. Brown, Daniel E. Forman, Barry A. Franklin, Steven J. Keteyian, Dalane W. Kitzman, Judith G. Regensteiner, Bonnie K. Sanderson and Mary A. Whooley.
Cardihab announced as successful grant recipient in $3.7 million funding pool through ANDHealth+ program
Cardihab is one of four successful digital health companies awarded a share of $3.7M from the Australian Government’s Medical Research Future Fund (MRFF). The funds are being invested into high-growth potential digital health companies, supporting them to develop and release new products and expand into global markets, through digital health commercialisation program, ANDHealth+.
Funded by the MRFF, the ANDHealth+ program is delivered by ANDHealth, Australia’s leading digital health commercialisation organisation, providing Australia’s most promising digital health start-ups access to up to $3.7M in non-dilutive investment, alongside substantial industry mentoring and support, across a two-stage investment process.
Cardihab, successfully completed a rigorous process of qualification, including assessments by leading Australian and international investors and digital health executives, and has been selected to move into the next stage of the process.
ANDHealth CEO and Managing Director Bronwyn Le Grice said, “These companies are perfect examples of how Australian businesses are using technology to solve real health problems faced by millions of people locally and around the world. This investment will support these companies to secure the clinical evidence and customers they need to create better health and patient outcomes on a global scale."
“Due to the limited funding pools for digital health companies in Australia, ANDHealth+ is a highly competitive program that selects world-class, evidence-based technologies, as assessed by an expert industry panel and international investment committee.”
Ms LeGrice says the exhaustive process is designed to identify the companies and technology with the greatest chance of commercial growth and beneficial effect.
Cardihab CEO Helen Souris says, “to be successful in a program like this is an incredible testament to the quality of our solution, the work of our dedicated team, and the potential of our technology to have a positive impact on patients here in Australia, as well as globally.”
"Cardihab is thrilled to continue to receive funding and advice as part of the ANDHealth+ program. We will leverage this support to prepare our digital therapeutic for international markets and gather additional clinical evidence to further demonstrate our impact on patients needing cardiac rehabilitation."
We look forward to continuing our productive collaboration with ANDHealth and partners during the next phase of the program.
For more information about our programs and opportunities please contact us.
Cardihab developing intuitive AI driven analytics solution set to revolutionise patient care
Healthcare providers and patients will soon benefit from an intuitive health data analytics product called C.R.O.P.S which is designed to unlock insights gained from digital health platform Cardihab®.
Cardihab were recently awarded $782,768 in matched funding from the Australian Government’s Entrepreneurs’ Programme - Accelerating Commercialisation, to further develop data analytics capabilities and products within the Cardihab ecosystem under the product name C.R.O.P.S—Cardiac Rehabilitation Outcomes and Process Synopsis.
The project titled ‘C.R.O.P.S - impact via health data and augmented intelligence in care’ has the potential to transform the efficiency of care and outcomes for patients and health services by automating much of the collation and analysis of complex health data entered by patients and clinicians. It will also leverage Artificial Intelligence (AI) and Machine Learning (ML) systems to process the real world data from Cardihab’s patient care plans to identify signals or trends in patient behaviour that could indicate positive progress and/or deterioration that would require clinical attention.
The project will address key challenges of efficiency in care delivery and scalability, by both reducing the administrative and analytical burden of governance reporting as well as providing an augmented and intelligent point of care solution that will give clinical teams valuable decision making tools.
Cardihab CEO Helen Souris says this is a highly sought after solution that is targeting the growing challenge of extracting meaning from the petabytes of health data that are in our health system, and one that promises to transform current care practices for the better.
“Many of our customers have expressed a desire for a product like this to help efficiently extract insights from the huge amount of health data that is generated through the daily use of our platform. We’re building a suite of tools to support clinical and business decision making, that will ultimately enable more patients to have access to care.”
Accelerating Commercialisation is a service under the AusIndustry Entrepreneurs’ Programme, that provides organisations with advice and funding up to $1 million, to assist in the development and commercialisation of products that represent genuine innovation and a compelling value proposition backed up by market demand.
Cardihab CEO Helen Souris speaks to Talking HealthTech about the need for a data analytics solution to transform patient care and outcomes.
Cardihab enables home-based, digital cardiac rehab for remote North Queensland patients
Cardihab is proud to be enabling home-based, digital cardiac rehabilitation to remote and regional patients recovering from heart events through our partnership with Mater Private Hospital Townsville.
Mater Clinical Exercise Physiologist Shaun Whiley and Mater Private Hospital Townsville Executive Officer Steph Barwick recently spoke to Channel 7 Townsville about the successful initial uptake of the Cardihab program with patients from North Queensland that otherwise may not have had an opportunity to complete a program.
“So far we’ve had a number of patients complete the program and have said they loved the fact that they were able to do the program, and were given the opportunity. It can be quite confronting (for patients) going home to a rural area after having gone through a cardiac event and not knowing where to go, what is their exercise capacity, so it's really been fulfilling to get them back to normal function,” said Shaun.
North Queensland-based cane farmer and Mater patient Stephen Fabbro discussed his experience using the Cardihab digital Cardiac Rehabilitation platform in helping him to manage a program post heart surgery that he otherwise would not have been able to do due to time constraints and the long distance to the Townsville-based rehab centre.
Cardiovascular Disease (CVD) is a significant health problem in rural Australia with rural populations experiencing a 20-30% higher CVD prevalence¹. Offering effective interventions that suit the needs of the patient helps to bridge the gap in care that exists.
Cardihab CEO Helen Souris says, "we're thrilled that Cardihab has been integrated into the Mater’s cardiac rehabilitation program and so well received by patients in the area."
Read more at Mater News.
References:
- Estimating the Return on Investment of a Randomised Controlled Trial on Telehealth-based Medical Nutrition Intervention in Rural and Regional Australia - Associate Professor Haitham Tuffaha & Professor Stephen Birch University of Queensland
Local investment gaps and the need for dedicated funding for digital startups
Cardihab CEO Helen Souris recently spoke to Yolanda Redrup, an award-winning senior journalist from The Australian Financial Review to discuss the impact of the Australian investment landscape on digital health startups. They discussed how things need to change in order to strengthen the Australian ecosystem and capital support to compete with other markets.
According to ANDHealth CEO Bronwyn Le Grice, where the US has significant investment funding pools dedicated to accelerating emerging digital organisations and supporting digital growth, Australia’s funding landscape focuses more toward mature organisations with little support for start-ups at the beginning of the journey. This can lead to organisations moving their ideas and talent offshore to bigger markets that can offer support.
Helen says there is a gap in understanding by local investors that often limits investment, forcing digital health and technology entrepreneurs to look beyond their backyard for scale support.
“There’s lots of seed funding, and seemingly a lot of money for $20 million rounds, but when you’re a start-up that needs to scale up and need to have two to three years of runway to execute to deliver results, that’s where it’s hard.”
She says urgent discussions need to be had around building sustainable investment models that can support and maintain the growth of the Australian digital health ecosystem and nurture innovation to ensure the future viability of Australia’s role in the sector. There is also strong support for government-led policy changes and reimbursement that enable evidence-based digital health innovation to transform our health system.
To learn more about Cardihab or to book a demo or meeting with the Business Development team click here.