Julien Penders Presents Bloomlife at LSI Europe '23

Bloomlife is focused on building out its commercialization efforts for its first product, a smart pregnancy wearable that automatically detects and tracks contractions which expectant moms can visualize on their smartphone.
Julien Penders
Julien Penders
Co-Founder & COO, Bloomlife



Julien Penders  0:05  
Julian, co founder and CEO of Bloomlife, it's a women's health company. And our mission is to define a new standard of care in maternal health. We are witnessing a global crisis in maternal health earlier this year in February, the who publish their latest numbers on maternal mortality. And those numbers are dramatic and alarming. Report shows that still today, every day 800 women die from preventable causes due to pregnancy or childbirth. And this is a problem, which is globally you can see us right, it's pretty bad. It's fourth on the chart. So it is it is a global problem affecting developing and developed world. Similarly. So why is that it's nothing new, it is really is a crisis that has been in the making for a couple of decades. And you can see here, it's really due to the fast increasing rates of pregnancy complications here, you get the last 20 years. Why is this increased? Do you get three things it's a maternal age is increasing. So typically, women will have babies later, in their in age, we also see an increase in obesity and diabetes and an increase in hypertension. So these are known, you know, chronic conditions that affect the overall population will have dramatic consequences when it comes down to pregnancy. In parallel to that, there is a another factor, which is a decreasing number of specialists, so OBGYN, who are available to care for those women. In the US today, 50% of the counties lack a single OBGYN, so those moms are pretty much either left on their own, or they have to travel to another county to seek care. In Europe, we've seen large hospitals closing OBGYN department, because they are typically cost making department in the hospital. So we see this storm of events where you have an increase in pregnancy complications and a decrease in professionals to care for that. So the consequence financially is dramatic. In the US there is $110 billion dollars spent every year in maternal care in Europe, that number is 85 billion. And if you look at the impact on large employers, high risk pregnancies is the number three cause largest expenses in employees just after cardiovascular and diabetes. The current system is broken, we have to change that. And the way we try to think that is to really rethink how we delivering maternal care. At the core of it is a connected platform connected platform, that critical care platform that combines connected devices for the mom, patient app that's going to provide education and clinical surveys. There is a cloud component to it with data analytics that allow it to identify certain risk of pregnancy complications, and eventually a clinical layer that is going to analyze the data, of course and provide the clinical support to the mom. The goal is really here to improve access to care and power moms and enable the care teams to more easily and efficiently manage maternal and fetal health. At the core of the platform, it's a medical device, which I actually have here. It's a patch that we've developed is connected a device as a DCF. As you can see, here, it goes on the lower part of the belly, as you can see on the picture. And what this device does is really shifting the high volume fetal non stressed. So the fetal monitoring that is today down in hospital, we shifting it and we allow them to do it from home. on their own. They said it's really that that weather device of us to do but does it measure, you can see there three, three singles. So we measure maternal heart rate, we measure fetal heart rate, and we measure contractions, so very similar to what will be done at the hospital, except now the mom can do it herself. In the comfort of her home, the data goes directly to the hospitals that the doctor can review that. I'm happy to share today that we got FDA clearance for the device earlier this year. So we've got a 510K for maternal and fetal monitoring. It covers both home and hospital use with the data being automatically sent to the care provider for review. And you know, what do you think it allows us to show is that we are equivalent to the standard of care, which is the CTG is the hospital based machine, although we do improve comfort, and allow that to be done from from your home. So what's in it for the patient studying there. So for the mom, this type of technology is going to help her reduce in person visits. So if you look at the high risk pregnancies in particular, the mom is typically required to go and see her doctor two or three times a week. And sometimes it's just to take a blood pressure it was just to take her fatal and monitor it there is no reason for them to actually go there and travel there. She could totally do that from home. So for her, it's really saving time saving money of not traveling to doctors when she doesn't need to. It really simplifies the way she can manage her own pregnancy, especially complications and provide her peace of mind. Knowing that there her clinical team can actually look over her pregnancy and look over her data when it's needed. On the provider side, it increases revenue. And I'll talk about that a little bit later. Mainly because it allows them to see more patient, but also increase the total amount of reimbursement they can get. On the it also, of course, allow them to identify possible complications earlier on. And eventually, we also talk about this as well, it improves adherence to clinical guidance. That's a very important aspect. Because given the fact that there is an access to care problems, sometimes moms do not get the care that they should get based on the clinical guidelines. And so this type of technology will allow them to actually follow those guidelines, every other business model. So the way we work is that so we an enterprise play, we contract with hospitals, and we generate revenues through reimbursement, we have designed a service so that it fits into existing reimbursement codes. That's something that's been we've spent quite some time on that a couple years back to really make sure that we can leverage existing CPT codes. Depending on the pregnancy, there are different things that we different service that you can offer, so really more like a service base. So we'll get a prescription from the doctor depending on what he wants to follow for her for her or his patient. And we leverage six CPT codes, the baseline is rpm, so anything that's a remote patient monitoring, anything that requires to track vital overtime during the pregnancy will qualify for an RPM. Every time we do fetal monitoring. The test has also a specific CPT code. So every time a test is done, we can bill that code, the doctor can bill that code is a class one, category one code, which means that there is no restriction on how many times it's used for pregnancy. So whatever the doctor wants to use it in, order that and then if there is a clinical oversight needed, we're gonna go to perdition, we also have access to the to the Health Study consult codes. So depending on on the case, we will basically build on those on those different codes. A beachhead market is the US. That's where we were launching now. And that's where we're focusing and most specifically, we're focusing on high risk pregnancies, in US House ministries and 20-25% of all pregnancies, but they represent 75% of the cost. So it's a total cost to the to the healthcare systems, our facility $7 billion in the US. There's three main reasons that reason, moms are at high risk, it could be that they have hypertension, it could be chronic, or it could be gestational, it used to be diabetes, mental health issues. So these are the kinds of three conditions that we are focusing on the total market using existing CPT codes on the the US is 2.7 billion a year. We believe that this market can actually grow as we prove the added value in terms of healthcare economics and secure some value based contract. But I'll speak a bit about that. But that's for for later on. Very briefly, so we launched in March, with a network of clinics in Arizona, it was very prenatal services. And I'm happy to present some of the early results we have six months in, we focused on hypertension to validate the concept and demonstrated the business model works. We have four clinics involved 10 prescribers, 250 patients, and we billing today on those four codes. And what we want to do is whether like that is our business model workout. Very briefly here, what have we shown over the last six months improve adherence? First, we show that using the Connected Care platform, we increase adherence by a factor of five. So that's the first aspects and that makes doctors very happy. For insurance coverage, we have about 15 insurances that we validated now, including Medicaid, and we've seen so far reimbursement rate of 96%. We expect that to decrease a little bit based on like some other discussions we had. But still it's nice to start that high. And last but not least, we also see an increased revenue on the on the provider side with an average they get $242 per patient per month, thanks to the connected cable from and again, this is just for hypertension management. Now, next stage nice to start from to leverage this a commercial pilot, because the paper I wrote and extended the US through direct sales to hospitals with also we are exploring distribution partnership partners, strategic partnerships with people folks that are already in this in this market. Very quickly by the team, my co founder and I, we were initially at IMEC. So in Belgium, we founded that company seven years ago we brought to help us out Jessica, is an experienced medical device product development expert. She's launched nine products said five manufacturing lines. And we've got companies like Kela and Johnson and Johnson. We are surrounded by great amazing advisors, Ken Nelson, I'm sure a lot of you know Ken has basically skill Sales and Marketing for cardiac monitoring companies before. Dr. Judith Ziebell. She's with the state of Louisiana Department of Health. She's also African advisor to the White House. She's really helping us navigating that aspects of the US Dr. Lisle, she's a fellow and a professor at Stanford. heard and Stephen is helping us with some of the marketing work I guess I'll stop here I'm already over time I'd like to thank you for your time and if you have any interests to discuss maternal health for multiple aspects please reach out I'd be around today and this is my email also over there thank you for your attention.

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