About this project
The problem we solve: According to the Medical Group Management Association, medical practices in the U.S. fail to capture $125 Billion every year (an average loss of $182,828 per physician, per year, every year). Key pain points contributing to this loss include:
• Lack of price transparency
• Lack of treatment planning support
• Difficulty in optimizing medical practices
• Eroding job satisfaction for physicians
Physicians understand the science behind medical decisions, but may not have a clear and accurate financial understanding of how their treatment plan decisions affect their bottom line. Lack of reimbursement transparency leads to unexpected fiscal ramifications for providers and patients alike. Additionally, providers don’t have time or support for the tedious task of analyzing each potential treatment matrix based on fiscal decisions. We aim to tackle these core issues to help physicians optimize their medical practices and offer value driven care.
About our solution: Axiom is a one-stop, cloud-based platform that gathers clinical information and blends it with payer reimbursement data associated with treatment care plans. The real-time data is presented in an easily-consumable and quickly digestible format that allows physicians to spend less time wrestling with the technology and spend more time with the patient. Our product enables the physician to optimize care plans for each patient by presenting alternative options with equivalent outcomes for the patient, including associated costs and evidence-based info-metrics to allow the physician to compare effectiveness and cost. This allows greater transparency for physician and patients to understand the fiscal ramifications of treatment plan decisions made up-front. Axiom will help physicians optimize their medical practice by saving time, increasing revenue, and lowering costs while increasing patient satisfaction. The result is delivering the best quality care for the most efficient cost. Progress to date: We have a working prototype of the product and have vetted Axiom with several stakeholders and determined there is a market demand for our product. During usability testing, the feedback has been very positive. One physician was skeptical of the concept before the demo, but afterwards he said, “If I had something like this when I was in private practice I would probably still be in private practice today.” We are currently designing v1.0 of the product and expect to launch the coding phase soon. We’ve established significant relationships with provider practices who are willing to offer continued support.
About Our Team
Dr. Veeral Sheth, MD, MBA, FACS Ophthalmology , Practicing Physician Location: Lemont, Illinois Medical school: University of Illinois at Chicago - College o Bio: Dr. Veeral Sheth, MD is a practicing ophthalmologist that specializes in diseases of the retina and is part of the clinical faculty at UIC. He was Chief Resident at UIC and completed his fellowship in Retinal Surgery at the University of Chicago. Currently, Dr. Sheth is the director of one of the largest retinal clinical trial programs in the Midwest focusing on macular degeneration and diabetic eye disease. He is also well published and a frequent invited speaker at numerous conferences.
Practice: University Retina and Macula Associates Title: Founder, Chief Medical Officer LinkedIn:https://www.linkedin.com/in/veeral-sheth-md-mba-facs-6672a031
About Team Members
Founder, CEO, MBA, BSE(Comp E), BSE(EE) Biography: Robert Gerovski is a senior business executive and Kellogg MBA with extensive experience in leading organizations, from startups to Fortune 50 companies. Specializing in developing business, product, and technology strategies, he focuses on delivering innovative solutions aimed at giving users a streamlined and elegant experience. Robert has extensive experience developing high-performing, efficient teams that develop breakthrough products, optimize operations, reduce costs, and increase ROI. LinkedIn:https://www.linkedin.com/in/robertgerovski
About Our Company
Quiddity Solutions, LLC Location: Chicago, Illinois Product stage: proto Sales: Working on it Employees: 3-5
How We Help Patients
Axiom benefits patients in a number of ways. First, it makes it easy for physicians to include the patient in the care decision process when appropriate. Using evidence-based info-metrics, doctors can share the cost and benefits of alternative care plans and help patients participate in relevant decisions on treatment plan options. Axiom allows the patient to see how treatment decisions will affect their out-of-pocket expenses prior to embarking on a course of treatment. Interacting at this level builds trust between the patient and physician, and raises the physician’s credibility in the patient’s eyes. By linking the patient’s fiscal health with their physical health, Axiom allows patients to manage their well-being and set financial expectations for cost of care.
How We Help Physicians
Axiom assists physicians in delivering high-value care. Our platform helps providers gather clinical data quickly from trusted sources to optimize patient care plans, and improve time management to save time and allow for better doctor/patient relationships. It provides price transparency for improved fiscal responsibility, and will also allow providers the performance ability to capture a significant portion of the $125 Billion they leave on the table every year!
Mission: We deliver technology that empowers providers to optimize medical practices, improve care delivery, and drive toward a value-based healthcare system that benefits physicians and patients alike. Use of funds: Quiddity Solutions will use the grant to further development of Axiom v1.0 software platform, which is in the engineering phase. Intellectual Property Status: At this point our Intellectual Property are protected as trade secrets. As we get closer to launch we will file the appropriate patents. Patent Link: Not applicable at this time. FDA Status: Axiom is not subject to FDA oversight. Personal Message: At Quiddity Solutions we are working closely with physicians to improve how they deliver care. We focus on saving the physician time, improving their decision workflow, and making it easier for them to access the data they need to optimize their practice. By voting for Quiddity Solutions you are helping us improve the healthcare environment for physicians, and you are helping us link fiscal health with physical health for physicians and their patients.
05/12/2016Dr. Veeral Sheth- Physician
Followed the project.
05/12/2016Dr. Veeral Sheth- Physician
Liked the project.
05/12/2016Bryan Song- Medical Student
Liked the project.
Veeral Sheth, MD, MBA, FACS
Physician Founder, Chief Medical Officer
University of Illinois at Chicago - College o