Companies to Watch
10
Cloudbreak
is a private broadband network that connects 800+ hospitals and medical centers nationwide. Cloudbreak Collective, a Telemedicine-as-a-Service (TaaS) marketplace, enables and incentivizes providers to collaborate virtually across institutions and support the care of patients.
Tapping Into the Wisdom of the Cloud THE PITCH
Telehealth as strategic altruism: Improving quality and access to care through a customizable telemedicine platform that makes specialists and interpreters easily available anytime, anywhere and on any device.
Leadership Profile CEO and co-founder Jamey Edwards (pictured), a 4x honoree for Ernst & Young’s Entrepreneur of the Year Award, was CEO of Emergent Medical Associates from 2006 to 2015. During his 20+ years of entrepreneurship, Andy Panos, COO/ co-founder, started the healthcare interpretation services company that was eventually absorbed into Cloudbreak. CFO/co-founder William Hannan, a veteran of the healthcare, IT, and finance arenas, has previously been involved with the growth and sales of three startups. Milestone Partner The Ohio State University Medical Center has been a client for 14 years. “When we started the company in 2003, getting any hospital to understand the concept of utilizing a video conferencing platform to perform any type of clinical care was thought of as medicine from the Jetsons—way out in the future,” notes Edwards. Based in part on research OSU was doing into telemedicine, Cloudbreak and OSU collaborated on ways to bring clinical teams and other resources to the point of care using a video platform. Unexpected Success When OSU launched Cloudbreak’s Video Medical Interpreting service in its emergency room, it caught on 96
Issue 2
Moonshot Cost to Zero
Employees 35
HQ
El Segundo, California
faster than the physician telemedicine solution. Now, Cloudbreak has over 300 devices throughout OSU’s system performing 4,000 encounters per month. Effective interpretation improves clinical care, patient flow and stakeholder satisfaction in addition to generating dramatic cost savings for the hospital. Partners Cloudbreak serves over 800 hospitals, including NYU Langone, Penn Medicine, Cedars-Sinai Medical Center, Allina Health System, OhioHealth, Catholic Health Initiatives, Kettering Health Network and The Hospital for Special Surgery. Product Offerings There are several elements of Cloudbreak’s offerings: Cloudbreak Catalyst is a clinical operating system that drives customized workflows for staff and has EMR and video interoperability. Cloudbreak Connect
StartUp Health Magazine
Investment $20M
Technological Jujitsu Cloudbreak’s approach is to make its proprietary broadband network work in service of a client’s existing tech infrastructure, both physical and digital. Thus, the Cloudbreak platform is private labeled, customized for each hospital’s specific use cases, workflow management and patient-experience philosophy. Vital Signs In Q2 2018, Cloudbreak had 830 hospitals in its network and hosted 85K monthly encounters. Cloudbreak has seen a 98% customer retention rate. Notable Accomplishments The Cloudbreak platform enabled facilities within Avanti Hospitals, a four-hospital community health system, to become an accredited stroke centers by connecting them to Tier 1 academic stroke consults from USC. The company’s installations at Cedars-Sinai resulted in $1.7M in annual savings. To date, the platform has been used by over 3M patients. The Takeaway As Edwards says, Cloudbreak’s platform allows providers a way “to enhance the care they give to patients, patients a chance to be seen on their terms where and when they want, and hospitals to bring much-needed resources into underserved communities or share their centers of excellence with communities that may need them.”