Minda Wilson Gives MedTech Talk At The 2019 IFAH Conference

Speaker 1:
Please give a warm welcome to our next starter, Minda Wilson, founder of Fluidity Health.

Minda Wilson:
(inaudible)

Minda Wilson:
Our most recent client is a large publicly traded dialysis patient company which has over a million patients. That company is using our product in order to make sure that the patients are coming and getting the best care possible so that they can keep them in the chairs and out of the hospital. We are very excited about the work we’re doing with them. [inaudible 00:03:31].

Speaker 3:
(inaudible)

Minda Wilson:
Our management team is robust.

We have a lot of experience, technological as well as financial.

I myself am athree timeentrepreneur, this is my thirdgo around. And we are looking for money to onboard new customers, to grow our business, and our immediate need is about $2,000,000.

We expect to use that to build up our technology, pay for marketing expenses, and provide customized services for customers that are interested.

Minda Wilson:
That’s it. Do you have any questions?

Speaker 4:
Yes. [inaudible 00:04:28]?

Minda Wilson:
Thank you.

Minda Wilson:
So, our competition, one of the things that I wanted to point out about our competition was, the VA did an evaluation of the market to determine whether or not we could be a sole source contractor with the VA, and they found no one that provided the complete level of service that we do.

There are customers that provide parts of what we do, but nobody bundles it all together.

And with issues like app fatigue and multiple platforms that they want to reduce, they looked at us as a good solution to that.

Speaker 5:
I’m still… I’m sorry. I didn’t really understand what it is your product or platform does. Would you go over it again for me? One more time, please?

Minda Wilson:
Okay. So, what we do with this…

Let’s say I’m on a mission at the VA.

And I need to communicate with the doctors, the hospital, my family member, my friends,

I have a caregiver that manages my care, and then I have to organize the information so that care is delivered properly. We do this by providing services and analytics.

Minda Wilson:
So, the services we provide are messaging.

HIPAA Compliant messaging.

So that everybody in the care circle can talk to each other.

Speaker 5:
It’s a messaging service.

Minda Wilson:
Yes. Coupled with a task management program. The task management program allows for group task management.

And groups can be identified by the patient, by the doctor, by the family members… So, the doctor can use the task management system to issue orders and see that they’re being carried out.

The family members can use it for things like, mom needs slippers. Who’s going to get them?

 Youknow?

And then integrated with the messaging system, they can ask questions like, does she want blue slippers, or red slippers, or pink slippers?

What size does she want?

You know, size eight, size seven.

So all that can be communicated.

Minda Wilson:
And the communication is interactive. As opposed to one by direction.

Minda Wilson:
So, in addition to that, there’s a calendering piece, which allows you to post all of the appointments and it allows people to integrate with the task management system to see who’s going to be taking someone to an appointment.

Minda Wilson:
So, for the dialysis company, it’s very important to make sure that people come to their appointments. So they want to know, who’s bringing that person?

They want to send a reminder.

They want to make sure that person is there.

And if that patient isn’t coming, then they want to make sure there’s a substitute or there’s an arrangement for service to bring that person to their dialysis appointment.

Minda Wilson:
And then coupled with that, there are health management tools.

We can record a whole… all the issues related to their health, like what their urine output is, what their cholest… what their… all the things you do at home, you can keep track of that.

And then we can provide the analytics, and then there are tools to report that information back to the doctors, back to other family members, back to caregivers, so that all that information is exchanged on a single platform. And they rely…

Speaker 5:
That was so much greater than the original pitch.

Minda Wilson:
Thank you.

Minda Wilson:
But it’s longer, too. It’s more than my three minutes.

Speaker 5:
Oh, no. It was very good.

Speaker 6:
Do you have any… So, is the product by INOVEC, or PR, or…

Minda Wilson:
Yes.

Speaker 6:
Do you have any early metrics on, like, the engagement?

Are people sending messaging back and forth…

Minda Wilson:
So, we have some soft metrics, but we don’t have hard metrics.

One of the interesting experiences we’ve had with the VA is that they’re not sharing their metrics with us.

So, we have stories, which are really wonderful, about how people’s lives have benefited and how the caregivers’ lives have improved. We show longterm engagement where people, once they get on the platform, are continuing to use it because we can see that through our own metrics and the metrics we share with the VA.

But we don’t have specific metrics at this point in time.

Speaker 6:
Is IOS a bit more popular platform rather than Android, or…

Minda Wilson:
Well, so, a lot of the caregivers were given Apple products, so a lot of the caregivers are using the Apple products, but for the people themselves, the family members, Android is also very popular as well.

Speaker 7:
Okay. We got a question here.

Speaker 8:
Just a really quick little health question.

Speaker 7:
Gotta be really quick.

Speaker 8:
Your pitch went well.

Speaker 8:
Two, I assume this to be, and it’s the dialysis clinics, so you don’t have to confirm or deny at all, and if it is [00:09:31] patients, it’s a lot.

Speaker 8:
Two, yay, you’re incredible.

The one thing you didn’t reference is that you’re harvesting data, you’re harvesting analytics.

If you monetize that data into analytics, you should be able to monetize that. So it seems to me that there’s a huge upside for you.

But as a different multiple of the platform that you’re talking about, have you considered either of those?

And my other question is, why has the VA and the other company not invested as a strategic?

And if they have, then, [inaudible 00:10:03].

Minda Wilson:
The VA has not invested, and they don’t invest. In fact, one of the things that’s, you know…

Speaker 8:
The other company. The other company. Right. The dialysis company.

Minda Wilson:
So, we’ve been having… There’s been some discussions.

Speaker 9:
Okay. On the data?