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    Date submitted
  • 02-Oct-2017

Ride Health

Abstract

Ride Health is an early-stage company focused on improving access to care for patients who face transportation barriers. The Company develops a software platform that helps providers coordinate transportation on behalf of such patients. The solution improves the patient and care navigator experience, reduces no-shows and delayed discharges, and avoids hospitalizations through improved access to care, engagement and compliance.

Video

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Introduction Video

Additional Questions

Who is your customer?

Ride Health offers its software to a spectrum of healthcare providers, ranging from small-sized clinics to larger-scale health systems. Furthermore, the Company not only engages with the C-suite and/or purchasing department for contract formalization, but also directly involves nurse navigators and social workers, the primary users of the software, to drive clinical implementation. Ride Health has developed such a comprehensive sales strategy in order to appeal to executives, providers, and patients within a certain healthcare system.

What problem does this idea/product solve or what market need does it serve?

3.6 million Americans miss their appointments due to transportation each year. Providers cannot bill for these no-shows, and as a result, lose over 4 billion dollars in revenue. These missed appointments additionally compromise health outcomes for patients, leading to 40 billion costs in downstream healthcare costs. The current spend for non-emergency medical transportation system is huge, at $6 billion and over 100 million trips per year, but the system is broken. Logisticare, the current incumbent broker for Medicaid transportation, requires reservations three days in advance and relies on paper printouts for ride dispatches. Despite this, Logisticare has left countless patients stranded and providers full of complaints. My team and I developed Ride Health to solve the transportation barrier. Ride Health is a HIPAA-compliant software platform that connects healthcare providers with on-demand ride sharing and traditional medical transportation services to help patients reach their appointments. Through its software algorithm, Ride Health is able to develop itineraries for patients according to their respective conditions and needs, and allow healthcare providers to arrange these rides for patients in a hassle-free, cost-effective manner. The Company offers a solution that dramatically improves healthcare transportation for patients, for providers, and for payers relative to the current state.

What attributes will make this idea/product successful? Why do you believe that those features will create success?

My team and I find that the following attributes will make Ride Health successful: 1) Evident Value Proposition to All Stakeholders: Ride Health appeals to all stakeholders involved in the arrangement of healthcare transportation. Patients are able to reach their appointments. Providers see fewer no-shows and fewer delayed discharges, ultimately boosting revenue, a higher throughput, and higher patient satisfaction. Insurers incur a lower average cost for a patient and manage their risk pools more efficiently. Non-emergent medical transportation (NEMT) providers are already to fully utilize their respective capacities and widen their networks with multiple health systems and clinics. 2) Aligned Regulatory Landscape: Given the current $6 billion healthcare transportation spend, Ride Health is positioned to enable a re-allocation of the spend in the coming years. Additionally, the HHS-issued safe harbor promotes providers to arrange and pay for rides of established patients. In offering a provider-centered solution that coordinates transportation for patients, Ride Health aligns with this legislation. 3) Product Roadmap: From a product perspective, Ride Health is very innovative in planning future iterations. Our software development team is dedicated to integrating Ride Health with the EHR, to paving an insurer-reimbursement pathway, and building a transportation marketplace with multiple modes of transportation built into the platform.

Explain how you (your team) will execute to make this idea/product successful? What gives you (your team) an advantage over others already in the market or new to this market?

The Ride Health team has been working in the field of non-emergency medical transportation (NEMT) for two years, and in the process, has consulted with hundreds of patients and providers to better understand the operations and intricacies of transportation barriers to care. The Company has provided a customer-centric approach with its initial pilot customers, focusing on each patient experience with Ride Health at a time to ensure enhanced platform reliability, and provider and patient satisfaction. The Company additionally utilizes a grassroots approach with each customer, engaging not only social workers and nurse navigators, but also appealing to C-suite level and purchasing executives of healthcare organizations. Finally, Ride Health has executed a regional densification strategy to take advantage of network effects and the collaborative nature of healthcare - between transportation providers, co-located health systems, medical transportation providers and insurance programs.