INVEST IN QMEDIC
Simple, smart medical alert service to support care at home
We’ve made a proactive medical alert service that intelligently routes users to the right care services at the right time, whether that’s a nurse, family member, social worker, or, if necessary, the ER. QMedic’s simple help button passively tracks motion & sleep patterns 24 hours/day, enabling care providers & family members to perform wellness checks as needed. This lowers the cost of care for health insurance plans while enabling your loved ones to get the care services they need.
Sombit Mishra
CEO, QMEDIC
KEY FACTS
- 70% of ER visits are avoidable.
- 6 to 1 cost savings for health plans using QMedic.
- $4.6 Million in non-dilutive funding from the NIH.
- 100 BETA units sold out in 2015.
- 1,000 subscriptions prepaid for next version of the service.
- 70% margin/month.
- 2 multi-year regional Medicaid contracts; contracting with 3 private Medicaid health plans.
- Wearable button with embedded sensing has over 2 years of battery life; no battery recharge required.
OUR AMBITION
As the population of older adults rises dramatically over the next decade, we’re bringing simplicity, connectivity and affordability to care delivery in the home. Our mission is to reduce unnecessary ER admissions while helping care providers and family members deliver faster, more proactive care to loved ones with complex needs. We envision QMedic helping older adults around the world live independently in their own homes.
WHY I LIKE QMEDIC
As you know, healthcare costs in the US are very high compared to the service received by patients. Routing to nurses/care management helps support early intervention for high-risk members and reduces cost. This is where QMedic comes to help. This startup has a very talented team from MIT as well as care management expertise. QMedic’s success with raising $4.6M non-dilutive capital from the NIH provides credence to their concept and technology.
QMedic is targeting a global opportunity to reduce unnecessary ER use and help caregivers optimize care services for those at risk in the home. Once successful in the US, QMedic can support needs in other developed and developing countries.
THE BUZZ ABOUT QMEDIC
QMedic has impressed me by being responsive to any inquiry – it does everything that Life Alert says it does and more. Our entire family feels less anxious now that my mother-in-law is using QMedic.
Gene M.
QMedic’s solution is novel in that it adds valuable remote monitoring capabilities without changing the standard medical alert battery life capabilities…QMedic’s technology has enormous potential to expand the market to new customers and open up new revenue opportunities as healthcare payment models shift away from fee-for-service.
Casey Pittock
We’ve built a next-generation smart technology platform to meet the complex health needs of older adults.
With current medical alert services, users are routed to the ER, or nothing happens.
- Hardware-based services like Life Alert provide a one way ticket to the ER; bad for patients and expensive for health insurers
- No proactive routing to nurses or care management services
- Can’t meet complex needs of older adults in the home
Depending on your loved one’s situation, we’ll dispatch a social worker, call non-emergency medical transportation to the primary care doctor, and/or send text alerts to all appropriate caregivers.
- Routing to nurses costs $150 per call vs. $1,500 for ER admission
- Two way communication with any care provider from the home
- Completely waterproof, tracks motion, sleep, and wear compliance 24/7
- No need to recharge batteries, we monitor battery levels and send a new device when low
“The number of distinctive safety features provides a level of comfort & confidence not only for the older person but for family members and medical providers.” — Regional Director of Social Services, Salter Healthcare
Since our inception, QMedic’s mission has been to provide caregivers with the tools they need to proactively manage patients and loved ones in the home. From the time that older adults and disabled persons are discharged from the hospital—after a fall, stroke or other debilitating condition—they face enduring challenges to living independently. Historically, existing alternatives on the market, from traditional help buttons to 911 operators, have routed people one-way to the emergency room. QMedic believes there is a better way to serve people in the home, while lowering ER admissions and the cost of care dramatically.
The convergence of low-cost sensors and intelligent software has introduced exciting opportunities to build 24/7 proactivity into home care. At QMedic, we’ve spent thousands of hours iterating on product with users and caregivers. As a team, we believe there is no more rewarding pursuit than honoring our loved ones, from Baby Boomers to the Greatest Generation, by helping them live independently at home. We appreciate your consideration of the QMedic opportunity and look forward to working together to bring our simple, smart medical alert service to market.
Thank you,
Sombit Mishra
CEO
MEET THE FOUNDERS
Sombit Mishra
CEO
10+ years in product management, marketing, and UX at two tech startups. MBA’10 from MIT, MS’04 from LSE; McGovern Entrepreneur Award at MIT.
Fahd Albinali, PhD
CTO
15+ years of experience in signal processing, wearable computing, ultra-low power hardware design and machine learning.
Dave Nelson
Director of Business Dev.
10+ years experience in sales and finance; previously on Board of Directors of global health non-profit; MBA’10 from MIT.