Health Fabric is an enterprise grade software platform that consists of apps, health content ( inc. clinically validated plans), analytics, and an integration engine targetted at helping the c15.4m people in the UK with long term conditions and their GPs manage their conditions better through a digital environment of plans, information and support including integration with clinical systems and patient records.
Unlike any other app we can find, Health Fabric is focused on integration into the patients’ clinical record; with the GPs’ clinical systems ( eg EMIS and TTP- c75% of the market), and integration into health education information and 3rdparty apps ( inc wearable devices) and data including plans from the Health Fabric Store.
The company’s offering is in line with the latest NHS ‘Five Year Forward View'(Oct 2014) patient-centric strategy around allowing patients interoperable access to medical records, a greater degree of control over their own care and encouraging information to flow more smoothly between different parties interacting with a patient.
Since the Company’s establishment, following several years of development and £1.5m invested to date, we have:
-generated over £350,000 of income through pilots and contracts with NHS providers;
– drawn up a pipeline of c £3m of potential contracts with a range of NHS providers such as Clinical Commissioning Groups (CCGs) who hold £65.6bn of NHS annual £95.6bn budget alongside local authorities), GPs (individual practices and Federations), Acute Trusts and Social Enterprises;
– generated 2,000+ downloads of the myHealthFabric app since March 2015 launch with target of 100,000 users by year end;
– created a library of branded plans ( many of which are clinically verifieded) available for download on the Heath Fabric Store working with Patient Advocacy Groups, GPs and other healthcare professionals eg Diabetes UK, British Lung Foundation, The Migraine Trust
The future of Healthcare relies on moving it to a personalised and preventative model
The purpose of Health Fabric is to encourage patients to become more involved in their own care, which will reduce the need for professional intervention and improve patient outcomes. It delivers against an agenda of making healthcare preventative and personalised.
In the NHS “Five Year Forward View”, published in October 2014, key messages relate to the provision of technology that will allow patients interoperable digital access to their medical records, a greater degree of control over their own care and, moving healthcare to a preventative model of healthcare.
Health Fabric’s suite of software enables the patient centric care paradigm and has achieved early adoption within the NHS in a select group of apps on the NHS app store. The company has been referenced in a number of publications from the NHS and the Health Industry, and also national TV coverage. It was also chosen by NHS England to support them in the NHS Innovation Challenge awards.
Health Fabric – developed from first hand experience
Health Fabric was founded by Satnam Bains, an IBM enterprise software specialist who, when in 2006 his daughter suffered from a serious illness, realised first hand the need for an online platform which would improve the ability of patients to manage their own care, including input and services from multiple organisations within and without the NHS. The resultant platform encourages the behavioural changes necessary to address and self-manage long-term conditions and enables enterprise grade integration into other healthcare platforms including, most importantly, GP clinical systems.
Health Fabric – a platform with multiple access points: patients, friends & family, advocacy groups, GPs
Health Fabric has built an enterprise platform capable of a broad range of functionality allowing it to generate revenue through integration with business partners, products and services.
Currently the platform offers the following:
- The Health Fabric Store (a social platform to create and disseminate self management plans)
- The ‘MyHealthFabric’ app (for individuals and for communication between healthcare organisations and those individuals)
- The GP Suite (for GPs)
- The Friends and Family App (for a patient’s support group)
- Health Fabric Insight – an Analytics platform
Enterprise grade software integrated with existing healthcare systems
To provide a connected view of a patient’s data, the Health Fabric platform integrates data from multiple disparate systems and facilitates the ability to access and share information between them. Health Fabric has been built to integrate with existing IT providers to improve the processes associated with a patient’s care. This integration enables cost savings and efficiencies through the provision of electronic information, replacing manual information processes and enabling ease of access. Health Fabric works with both EMIS and TTP, the UK’s two largest providers of digital patient record software. Accordingly, Health Fabric believes it can integrate its software with around 75% of UK GP practices and plans to expand this reach.
Crowdsourcing Patients and medical records requests
Health Fabric approaches the development of its market from a number of different angles. Its primary model targets GPs through marketing to CCGs responsible for the choice and implementation of technology in their geographical areas. To date, Health Fabric has generated revenue principally by entering into contracts with healthcare providers such as CCGs and GPs for the implementation of the GP Suite into GP practices enabling the GPs to promote the use of the “MyHealthFabric” app to targeted patients providing them with digital access to their medical records and the ability to interact with their GPs electronically.
At the same time, Health Fabric is encouraging the adoption of its technology through patient led demand. This initial demand has been created through distribution of the ‘MyHealthFabric’ app and by using social media to generate awareness around an unmet need for patients with specific long term conditions. Using popular social media platforms, coupled with free access to the Health Fabric Store, allows patient advocacy groups (eg Diabetes UK) and NHS organisations (eg NHS Choices) to work in partnership with Health Fabric to publish self help plans for use by patients. Setting up and personalising the app also “crowdsources” medical record access requests directly from users. In tandem with the crowdsourcing, it provides GP’s access to patients’ data and a view of near real time information around health self management, reducing GP workload and improving patient outcomes.
Scalability and revenue generation
Since its launch on 2 March 2015, after initial beta testing, there have been 2000+ ‘MyHealthFabric’ app downloads and this number is growing. The Company has set itself a target of 100,000 users worldwide by the end of calendar 2015. Since February 2015, Health Fabric has also seen a number of opportunities outside the UK. The initial target market in the UK is the c15m people with one or more long-term chronic conditions. Revenue is projected to be generated from three key sources:
- The NHS (and associated entities such as CCGs) and similar organisations worldwide that will purchase a license for the software which provides their patient populations with interoperable access to patient records;
- Business partner organisations, such as medical charities, private healthcare providers, healthcare equipment and device suppliers (eg Withings) and other businesses generating income from healthcare who will benefit from targeted marketing to specific patient groups; and
- Friends and families of patients who will pay to download an app that allows access to permissioned patient information.
Health Fabric has invoiced over £350,000 to date and has a sales pipeline of c£3m. In the 12 months to January 2016 the business is forecast to make a loss of £7,272 on revenues of £1.3m, with profits of £2.3m on revenues of £5.8m projected in the 12 months to January 2017.
Health Fabric’s platform is now capable of developing, policing and disseminating health and wellness plans produced by third party organisations, such as the NHS and healthcare charities, and most importantly, relationships have been created with the NHS itself, NHS software suppliers, CCGs, patient advocacy groups and other potential business partners.
Historic and future funding
Until April 2014, Satnam Bains funded the Company through equity, personal loans and revenue generated by the business. Through a seed fundraising round that closed in April 2014, £1m of new money was raised from a small number of private investors on a pre new money valuation of £2.5m. These funds were used to provide working capital to enlarge the business, build a sales pipeline and to develop the Company’s technology and products.
The Company raised a further £500k in February 2015 from the same investors at the same valuation and is now proposing to raise a minimum of £400k at the same price ie a valuation of c£3m. In addition, the Comapny is in early stage discussions with certain strategic investors which may lead to further investment in the Company. The monies will be used to provide additional development and working capital to accelerate growth and scale the business.