Moterum Technologies | David Huizenga, CEO


David Huizenga

David Huizenga

CEO, Moterum
High impact products in the field of mobility and rehabilitation for those who have survived a stroke, traumatic brain injury, or spinal injury.

David Huizenga  0:00  
My name is David Huizenga. I am the CEO of Moterum technologies. It is a pleasure to be here today and we are a neurological chronic care company. It's astounding that 50% of all health spending in the United States when you think about direct and indirect costs is actually spent on chronic neural patients. In fact, it's estimated in 2030, $183 billion in stroke expenses alone will be spent. The problem is that in spite of this massive spend, the majority of these patients still have long term disabilities. For example, 50% of stroke survivors never walk unassisted, again. This is because the current standard of care is broken. Typically, these patients go into an acute setting, they are discharged through a variety of different means back into most of them into their home setting with a woefully inadequate amount of PT, or OT, or long term care available to them. We started out wanting to solve the problem of helping stroke survivors relearn how to walk again. Our clinical trials showed that we were best in class with our first medical device and doing this. But through those trials, we also learned that we needed to create a fully integrated technology platform. Most importantly, though, we learned that we needed to bring humans back into the equation for a patient population as complex as this. So today, our patients actually see our own physician first, that physician uses our own proprietary telehealth and engagement platform, to both set their treatment plans monitor how those plans are going and engage with the families. At the very beginning of the process, we bring in what we call a carer liaison, and his carer liaison functions to teach them how to use the technology is there to answer questions oftentimes become sort of a professional friend to the patient and the survivors or the family. The physician can provide or scripts, remote patient monitoring technologies, proprietary remote therapeutic monitoring technologies. And if they do, then we pair a clinical liaison who is a registered nurse who bridges the gap between these clinics between that physician and the patient and their caregivers. This rn is able to both monitor what is going on, but also escalate issues as they're needed and required. Lastly, that physician can script PT and OT, they can script medical devices that the patient may need. And all of those clinicians are hired by us owned by us and are providing the care that that we asked them to do. So the standard of care that was broken, because the continuum of care had a huge gap in it for these patients is solved by our solution because we provide both people and technology into that gap. So the value proposition is today that we provide better care, better management, better experience, using our own clinicians, with our own technology in a virtual or remote setting. And we do this and get paid to do this using standard fee for service billing models with Medicare or private insurers. Because we do this, this means that over the next 15 or so months, we are able to be paid to generate the data across roughly 1000 patients, which will show our clinical efficacy across this patient population, as well as the cost savings that we have. That information is able to be used to move into at risk and value based relationships with the payers where the value proposition is that we're going to provide a better standard of care for a very difficult demographic that they're dealing with. And we can do it in a lower cost way. In this model, we get paid on a pm, pm sort of payment scheme with bonus payments based on how well we are doing. So after we finished our first beta launch, the best way to determine how we're doing is to look at patient feedback and clinical benchmarking with those patients. For example Anette, she has been with us about eight months and after that time, she said the most exciting thing for her was sensor stroke 10 years ago she was pain free for the first time.

Betsy when asked what she was most excited about she said that 43 years after her stroke, she was able to touch her finger and her thumb together for the first time. And John, he was just excited that even though he had been treated for his blood pressure for a number of years, in three months with us, he was able to lower his hypertension category by two levels. Through this initial beta launch, we're also excited about about the primary population health analysis. Amazingly, even with this small cohort, we were able to get statistically significant data showing that our patients improve on their quality of life scores, and they improve on their depression scores. In addition, more than half of our patients improved a clinically significant amount in anxiety, imbalance in their hypertension. And they did this through 1000s of interactions with our technology and our team. And what we learned from these interactions is that this very high risk high acuity population actually can be helped. When you bring both people and technology to the equation. Today, we generate our leads web to lead the way many people do. And we've lowered our cost of acquisition down to about $400 per patient. The two main problems that we encountered for patients not wanting to join us were their the cost of their out of network insurance and clinical availability, the cost of network insurance is being dealt with on a daily basis, and we will improve, and the clinical availability is the main reason why we are raising this next round of financing. The competitive health matrix, you can look at it from a digital health spectrum, there's plenty of companies there and a health tech spectrum. There's lots of companies in that space, we provide a digital health solution through our SaaS platform. And we provide multiple med tech solutions through our remote patient monitoring and our devices. And we believe the best competitive matrix looks at health services, and in particular health services that are delivering a medical component. When you do that, what you see is you can look at those across the acuity of the patients they're looking at and how much technology they're bringing to bear. We bring the most integrated technology platform to the highest acuity patients in this space. And in fact, we're the only neural health chronic neural health company that we're aware of attempting to do this. We've got a great team with lots of experience across the life sciences and software and data space with dozens of exits under our belts. But we're really excited that we've recently started adding deep health service experience to what we're doing. For example, Keith Pinto recently joined our board. And previously, he was the COO of Envision healthcare, where he managed six and a half billion dollars of health service and about 20,000 physicians. But to us, the most important thing was he managed their at risk and their value based programs. So in conclusion, we are a commercial stage technology enabled health services company focused on helping the chronic neural patient. We expect to have approximately $2 million in ARR by 2022, which will pave the way for intelligent at risk relationships with pay ORs. We've spent about $10 million dollars to date to get to where we're at. And we're looking for to close out our a $5 million round to help us expand our clinical services, our operating capabilities and our manufacturing capabilities that will support about 200 more patients into our system. This will lead us to what we expect is a scaling round at the end of this year, bringing us to approximately 1000 patients in our first at risk relationships. Thank you

Join us at the next LSI Emerging Medtech Summit

LSI's global events attract top innovators, active investors, and deal-making strategics.


Share this video

Our Clients