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Crowdfunding Healthcare Startups – Medstartr and Indiegogo

Posted on October 5, 2012 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

I have been seeing more and more activity around the idea of using the crowds to fund various healthcare IT startup companies. This shouldn’t be that surprising to any of us given the success of websites like Kickstarter and Indiegogo. They’ve created a whole new way to raise money for passion projects. Plus, as they’ve grown they’ve shown a new way to see if your customer really wants what you plan to offer.

One challenge is that Kickstarter generally hasn’t approved healthcare startup company projects on their platform. In fact, a whole company was born to try and help solve the problem of making crowdfunding available to healthcare. This company is called MedStartr.

I’ve been keeping an eye on it for quite a while. So far they’ve had some successes with these projects getting funding: Medstartr, The Walking Gallery, Peer-to-Peer Global Support for Rare Disease, and Avado. Plus, Reconstruction Bras for Breast Cancer Survivors and Previvors have met their goal, but are still raising money.

I think the most exciting one is The Walking Gallery since it raised well over twice of the money requested. I’m interested to see how some of my friends like referralMD and My Crisis Records do on Medstartr. Their projects are still open if you want to back them.

I think the biggest challenge with Medstartr right now is that it’s currently a “bring your own crowd” fundraising platform. The platform works to raise money if you already have a built in audience that is willing to pay to support it. So far, Medstartr hasn’t been able to produce a large community of “backers” that can fund a project that gets listed. In fact, I don’t think Medstartr even reached its fundraising goal in its campaign (although, it’s listed as such on the website now).

What is also really interesting is a healthcare project that was posted on Indiegogo for a Asthma Education App. So far it has raised $7125 for Health Nuts Media who wants to create the app. That’s not a bad start for their app with 27 people helping to fund that goal. Although, even that number was influenced by a $5000 commitment from Medicomp Systems makers of Medcin. I’d be interested to know how they landed that backing. That’s a nice one and if they can get more of those, that will be powerful.

The good thing with Indiegogo is that whatever money is raised the project gets. In Kickstarter you have to reach your goal or the project gets $0 of funding. I haven’t heard which model Medstartr has chosen to adopt.

We’re still in the early days of Crowdfunding. Plus, true crowdfunding (ie. small investment for small equity) is still waiting on the official rules to be put out. That could really change how companies get funded. I’m excited about the opportunity, but cautious about the challenge of getting enough people to care about healthcare enough to support those projects.

PhoneSoap – Charge and Sanitize Your Cell Phone – Healthcare Gadget Friday

Posted on April 6, 2012 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Many of you know we have our regular Meaningful Use Monday series that we’ve been doing for almost a year now. Today I decided that it would be fun to create a new series I’m calling Healthcare Gadget Friday. I’m not sure I’ll do it every single Friday, but I’d like to do it most Fridays.

I’m kicking off this series with a gadget a friend of mine emailed me about called: PhoneSoap. You can read all about PhoneSoap and pre-order one on this kickstarter page (If you haven’t seen Kickstarter before it’s a pretty amazing website). Here’s the overview of the PhoneSoap product:

PhoneSoap is a small box that simultaneously charges and sanitizes your cell phone using UV-C light. UV-C light is electromagnetic radiation that’s used in hospitals and clean rooms around the world. This short wavelength of light penetrates the cell wall of the bacteria and disrupts its DNA, effectively killing it. It is 99.9% effective in killing bacteria and virus’. Best of all it is completely safe.The UV-C light is only on for 3-5 minutes at a time and there is no heat or liquid involved so there is no risk of damaging your phone. There is a UV-C light on the top and on the bottom of the box so that the UV rays surround your phone for complete sanitization. Take a look at our before and after pictures to see how powerful PhoneSoap is:

I’ll admit that I’m no expert on UV-C light and its uses in healthcare, but I hope that some of our readers are familiar with it. I’d love to learn more about what you know about its ability to sanitize.

With that said, I think it’s a pretty creative product. I could see healthcare people putting their cell in this when they get home after a day in the hospital or even on the drive home from work. I’ve seen long discussions online about the best wipes or other awkward solutions to use to clean and sanitize devices in healthcare. I wonder if this could be a better solution…at least for cell phones. I imagine they could later make one for iPads as well.

What do people think of this idea? Could this be beneficial in healthcare? Are you guys worried about carrying around a germ infected cell phone that doesn’t ever get clean?

Considering the number of devices that have entered the healthcare environment and will continue to become part of healthcare, we’re going to need something that does a good job cleaning these devices. I’ll be interested to hear what you think of the PhoneSoap device.