Colorado Health Foundation Invests in Second Annual Colorado Digital Health Challenge
DENVER, CO — The Colorado Health Foundation today announced $150,000 in seed funding for the second annual Colorado Digital Health Challenge. The Challenge—founded in 2014 by Prime Health—connects early-stage digital health companies with Colorado health care leaders and the opportunity to vie for prize money to support product pilot testing at a host health care site. Participants’ experience in this one-of-a-kind event also combines insight on industry best practices, guidance for improving product demonstration and networking with influential leaders.
The Foundation funded the inaugural 2014 Challenge, and is supporting for a second year through its Private Sector Initiatives program, which seeks to invest resources and increase opportunities to improve the health of Coloradans.
“The Foundation is pleased to support this continued partnership with Prime Health and the important work that it cultivates in advancing digital health in the state,” says Jesse Wolff, director of Private Sector Initiatives. “Increased adoption of proven, innovative digital health solutions at safety net facilities across Colorado will improve access to health services and strengthen the delivery and quality of care provided.”
The Challenge event, scheduled for Wednesday, Sept. 30, is the culmination of a three-month process that offers participating startup companies a premier learning and mentorship experience, as well as pilot testing dollars.
During the event, eight digital health startup finalists pitch product proposals live to panelists, including some of Colorado’s top health care leaders. Winners receive a portion of $150,000 in prize money and the opportunity to test products at a host site, including safety net sites such as the Uptown Clinic, a member of the Foundation’s Graduate Medical Education program. While some competitive events only allow access to one provider, the Digital Health Challenge offers networking access to 17 host institutions and an anticipated audience of more than 450.
Pilot validation programs that launched as a result of the 2014 Digital Health Challenge are currently underway at host health care sites and have proved to be a success thus far including two pilot programs at Denver Health, one at Clinica Tepeyac and one at the Northwest Colorado Visiting Nurses Association.
Prime Health functions as a state-based digital health integrator focused on advancing the Triple Aim—improved patient experience, increased access to care and clinical outcomes, and reduced costs. Prime understands the critical role safety net clinics play in advancing the Triple Aim and specifically targets this facility type to host pilot programs putting Colorado on the forefront of innovative health care technology.
According to Prime Health CEO Jeffrey Nathanson, “The Foundation support is helping validate our integration process to tune and amplify qualified digital health products.” Nathanson adds, “We’re building competitive advantage for Colorado companies by enhancing product adoption and access to capital. Now participating companies are qualified, tested and soon will see the purchase of their digital health technologies.“
About the Colorado Health Foundation
The Colorado Health Foundation is singularly focused on helping Coloradans live their healthiest lives by advancing opportunities to pursue good health and achieve health equity through grantmaking, policy and advocacy, strategic private investments and convening to drive change. For more information, please visit www.coloradohealth.org.
About Prime Health
Prime Health is a business ecosystem, a community of healthcare administrators, physicians, entrepreneurs, investors, technologists and academics dedicated to improving patient health outcomes, lowering healthcare costs and making Colorado the healthiest state in the U.S. The statewide non-profit organization encourages innovation in digital health (the use of computers and digital technology to enhance healthcare) and is building Colorado’s national reputation as a leading health innovation hub. For more information, please visit www.primehealthco.com.