Eric Dy, Bloomlife - Personalized Prenatal Care | LSI Europe '22


Eric Dy

Eric Dy

CEO, Bloomlife
Read Biography
Bloomlife is a women’s health company solving the most significant yet underserved global challenges today in maternal health.


Eric Dy  0:03  

Pleasure to be with you all today. My name is Eric Dy. I am co founder and CEO of Bloomlife. Bloomlife, we are a women's health company. Redefining prenatal care. Our mission is to improve the health of moms and babies globally by eliminating preventable pregnancy complications. Our initial focus is the US market and for good reason. The demographic trends driving America's birth outcomes are impossible to ignore. Over the past several decades, there's been a significant increase in the rates of high risk pregnancies. Decades long shortages, maternal health care providers are created to create a significant barriers to care affecting urban and rural communities alike. These factors put enormous pressure on patients and providers, and starkly reveal the limitations of existing models of care, as evidenced by our higher rates of maternal mortality and morbidity. Providers today face challenges on all fronts, they have insufficient time per patient for comprehensive risk assessment in education. The growing number of high risk pregnancies demands more of their time, but it's not being met with increasing rates of reimbursement. The result? OBGYN suffered the third highest rate of provider burnout of all medical professionals leading to staff turnover and poor quality of care. For patients, existing models of care are outdated. It's still dependent upon antiquated technologies and doesn't take advantage of the opportunities of a connected patient. It still requires inconvenient time consuming appointments, provides little support and feedback between those appointments and oftentimes leads to long referral times to see specialist a problem that is a particularly problem for underserved communities. The system is broken and we believe moms deserve better. At Bloomlife, we are designing the future of prenatal care with technology proven to improve the health of moms and babies. We combined connected devices, data analytics and virtual provider networks to increase access to care, empower moms and increase the capacity of healthcare providers. Our approach to delivering prenatal care allows clinicians to more effectively screen maternal and fetal risk, educate the patient and quickly access specialists regardless of their location. At the center of our solution is a clinical clinically validated discreet and comfortable prenatal wearable that allows us to remotely assess fetal health from home in the form of what's called a fetal non stress test. In the US, over 10 million fuel NSTs are performed every year in order to earlier identify signs of fetal distress that might lead to long term neurological impairment or fetal demise. Current technology limits these tests to a clinical setting, and making it very inconvenient for a patient that often has to come in to the hospital or doctor's office twice a week starting in the third trimester until they deliver. Our technology moves that to the home, and in addition also performs better and high BMI women than the current standard of care. For providers, we improve quality of care and increase capacity by enabling remote screening and management of risk. With the data we collect were able to increase visibility on patient adherence, give them information too early to do proactive risk management to earlier identify deteriorating maternal fetal health conditions. Through software automation, we're able to reduce overhead and cost and introduce new billable services. And lastly, the digital tools that we're creating really helped facilitate patient provider communication, which is foundational for quality prenatal care. For patients, the whole idea is reducing the burden on managing pregnancy complications in supporting confidence self management. Through remote monitoring technologies were able to reduce the number of visits for clinically recommended tests, such as the fetal fetal non stress test, saving patients time and money. With the data we collect from home, we're also able to provide moms real time feedback and clinical oversight, providing peace of mind between their appointments. And the personalized education deliver helps normalize mom's experience, help her understand her condition, how to manage it. We've talked to 1000s of moms, and we know that they want to have more information about their pregnancy, and they want to be more control. And we make that safe and easy for the benefit of mom and providers alike. Our business model is simple. We contract with provider organizations to provide remote prenatal screening services, doctors or services for the patient and billing insurance companies using existing set an existing set of reimbursement codes and pay us a portion of that reimbursement. In addition, our tech enabled service allows reuse of hardware from patient to patient. This not only provides better profit margins, but it provides a more ecologically conscious solution to the market. from a market perspective, in the US, we spent over $110 billion a year on pregnancy, childbirth and postpartum care. And in fact, for commercial and public payers. Maternal Health is typically one of the top three to five cost drivers of plans. While we envision a world where all pregnant women are supported by Bloomlife, we're initially focusing on high risk pregnancies that have a highest rate of adverse events. require the greatest amount of clinical oversight and consequently drive the greatest amount of care. As we increase incrementally increase the services we offer, we increase value to patients increased revenue for pregnancy and the ultimate market opportunity. First focusing today on just the fee for service model, we address a $2.7 billion annually renewing market in the US alone. Over time, the idea is to generate the necessary clinical and financial data to move into value based risk at risk value based contracting with payers for the increasing revenue opportunity for pregnancy in the market size. from a competitive standpoint, at Bloomlife, we are obsessed with user experience to deliver best in class performance with ease of use. And beyond delivering a superior product experience, we are building the most comprehensive solution on the market. Our suite of virtual care services enables provider organizations of every size to unlock the value of remote prenatal care. From a pure technology standpoint, compared to the competition, our prenatal wearable matches the output of standard of care CTG machines more directly translate into clinical practice. What this means is that there's going to be less false positives and unnecessary care for things such as symptomatic preterm labor. We also know that workflow integrations are critically important, and we transmit our trade data directly into the EMR and the software tools providers are using today. eliminate the need for multiple logins and new workflows. The last competitive advantage that we're working on right now and perhaps the one I'm most excited about, is in collaboration with our partners, we are aggregating the largest and most comprehensive dataset on maternal fetal health ever collected. This critical data that's been impossible to capture till now is powering our cloud based machine learning analytics to develop digital biomarkers to help doctors early predict pregnancy complications before it's too late. Our team has the necessary technical, commercial, and medical expertise to transform maternal health. We have industry leading experts on remote patient monitoring that have commercialized developed and commercialize remote patient monitoring solution for companies such as telehealth, Johnson and Johnson, and IMEC. Our clinical program is overseen by triple board certified maternal fetal medicine specialists with a background in clinical research. Beyond a professional experience, many of us have personally experienced the challenges of navigating a high risk pregnancy. And in fact, the inspiration for Bloomlife came from my wife and I's journey into parenthood that included years of fertility treatments, a high risk pregnancy with several complications, preterm birth and postpartum hemorrhage and many months in the NICU. We have already pioneered the consumer maternal health market and launched the first prenatal wearable for moms. We've shipped to 1000s of women throughout the US and seen firsthand the profound impact empowering women with tools and information to better understand their pregnancy can have. We've also seen the opportunity for this for these technologies to impact clinical care. And to take advantage of this opportunity, maximize impact increase our market up or market size, we have transitioned from a consumer into a medical business. Over the past 18 months, we've begun ISO certified, had multiple meetings with the FDA further developed and validated our prenatal wearable in partnership with Oshner Health and valley Perinatal Services, and submitted our first FDA submission, which is currently under review. We've also started doing select commercialization with partners in Arizona. Given Bloomlife's unique Consumer Health Insights, and technology backbone to make maternal health more equitable and scalable. We are uniquely positioned to build the category of finding care delivery platform for women globally. And support this effort we're raising $20 million to strategically expand our commercial base, further add clinical service to augment existing clinical teams and commercialize a remote NST solution. At Bloomlife, we see that the opportunity the role of technology, improving our lives is all around us and a Bloomlife we believe it's time to start applying the technologies to where it matters most. saving millions of families from the heartache of loss child and making more healthy moms and babies in this world. Thank you


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