Funding and Mentoring Health IT Innovation
The New York Digital Health Accelerator is an annual program run by the Partnership Fund and the New York eHealth Collaborative (an affiliate of NYS Department of Health) for early- and mid-stage digital health companies developing cutting edge IT solutions in care coordination, patient engagement, analytics and message alerts.
The program works to catalyze the growth of jobs and economic activity in the health IT Sector, leveraging the size of the city’s health care delivery system and the $1+B investment by NY State in health IT infrastructure. Through a competitive process, the senior leadership at 17 major hospitals across New York State selects the participants.
Each participant receives $100,000 in funding from an investor syndicate and is paired with hospital executives (who lead product pilots and provide customer feedback) and with a mentor from the investor syndicate. Participants are also provided priority access to the Statewide Health Information Network of New York (SHIN-NY).
New York – A Leader in HIT Innovation
The Accelerator program will leverage the $840 million investment made in New York to adopt Electronic Health Records (EHRs), and the investment made by the New York eHealth Collaborative to create the SHIN-NY, which will connect these EHRs across the state.
To improve care and lower costs, healthcare payment systems are rapidly shifting towards new payment mechanisms that require physicians to collaborate on patient care. New care models such as Medicaid’s Health Home program, patient-centered medical homes, and Accountable Care Organizations are premised on such collaboration. However, the current marketplace of EHR systems does not provide physicians with all the tools they need to share patient data and collaborate with other providers treating a patient.
A market gap exists and new networked collaboration software tools are needed to leverage a patient’s health records. New York is leading the nation in the development of a state health information exchange network and has established relationships with a large community of healthcare organizations. These healthcare organizations are uniquely positioned to help create the tools for collaborative care because they are connected to a Health Information Exchange (HIE) and knowledgeable in HIT. Through partnerships with other states, New York has created an industry forum to establish a standardized HIE platform.