The New York eHealth Collaborative (NYeC) and the Partnership Fund for New York City have launched the call for applications for the second class of the New York Digital Health Accelerator (NYDHA), a program that is aiming to make New York a hub for the emerging digital health technology industry.
In upcoming months, the program will choose up to 10 early- and growth- stage companies that are developing cutting-edge technology products in care coordination, patient engagement, predictive analytics and workflow management for healthcare providers. Each chosen company will receive $100,000 in investment capital along with mentoring from senior-level executives at leading hospitals and other providers in New York.
The inaugural class of eight companies that graduated in May 2013 has raised approximately $12 million in aggregate post-program, driving growth and significantly expanding their customer base, according to NYDHA officials. Two of the companies were acquired within six months of graduating, and the participating healthcare providers facilitated 17 pilots at their organizations, creating more than 120 jobs.
"The Digital Health Accelerator program has proven to be a highly successful means of generating innovative technology solutions for some of healthcare's biggest challenges," state health commissioner, Nirav R. Shah, M.D., said in a statement. "This next class will focus on creating products that improve patient health through technology, such as care coordination software for physicians or medication adherence applications for patients. The New York Digital Health Accelerator is quickly establishing New York as a hub for health IT innovation and high tech job growth."
NYDHA offers participants the opportunity to engage directly with a broad network of providers in New York state, including hospitals, long-term care providers, community health centers and primary care providers. This helps them reach a ready market for their products. They also receive direct mentorship and feedback from senior-level executives with the participating providers, and will have priority access to the technology platform that is connecting electronic health records (EHRs) across New York State, the Statewide Health Information Network of New York (SHIN-NY).
The 13 healthcare providers that have agreed to participate in the program are: Community Healthcare Network, FEGS Health and Human Services System, Hudson River Health Care, Maimonides Medical Center, Montefiore Medical Center, Mount Sinai Medical Center, NYC Health and Hospitals Corporation, New York Hospital Queens, New York-Presbyterian Hospital, North Shore LIJ Health System, NYU Langone Medical Center, Stony Brook University Medical Center, and Winthrop University Hospital. Applications for the program are due April 18, 2014.