Its not often you run across a digital health startup focused on helping doctors create and deliver paper copies of their electronic health records.
In fact, it’s almost always the exact opposite, with startups feverishly trying to digitize the vast archives of paper records and images.
However, the first presentation I saw at NYC digital health accelerator Blueprint Health’s demo day for its first class of startups at was 5 O’Clock Records (@5oclockrecords). This company is focused on monetizing the process of delivering health records to insurance companies, law firms, or whomever else may be requesting them on behalf of physicians.
5 O’Clock Records can also complete these third-party requests electronically, but most importantly, they monetize these outside requests on the physician’s behalf, based on the state laws regulating such transactions in each individual state.
In the startup’s first major deal since graduating from Blueprint in April, 5 O’Clock Records announced their solution will be fully integrated into the Hello Health Electronic Medical Monetization Platform.
“Our partnership with Hello Health provides an endorsement for our platform as a means of support to help ease the burdens physicians face, simply by changing the way the medical record requests are handled,” said Matt Cottrell, founder and chief executive officer of 5 O’clock Records. “Now, with a click of a button physicians can send out medical information to third parties in a safe and secure way, and generate incremental revenue.”
“Hello Health continually looks to provide physicians with more tools to better manage their practices, and our partnership with 5 O’clock Records not only aids in this endeavor but also creates potential for additional revenue,” said Nathanial Findlay, founder and chief executive officer of Myca® Health, parent company of Hello Health. “Many people may not realize this, but the modern physician is struggling to maintain independence due to declining reimbursements and rising expenses. This collaboration is one more way we can help physicians take their practices back.”
Hello Health (@hellohealth) also announced this week they have added 20 new physician practices to their Electronic Medical Revenue Platform, giving them access to potentially 30,000 additional patients, further increasing the potential for this deal.