By Kris Turner
JANUARY 15, 2016 – An Indianapolis technology firm has set its sights on becoming the Amazon of health care services.
A cloud-based company that started in 2011, hc1.com, aims to be the ultimate solution for personalizing health care. Its technology connects health care providers, health systems and patients, filling gaps that widened after the passage of the Affordable Care Act.
“The market need is significant for what we do, which is bring an outstanding level of service to the health care industry,” said Brad Bostic, the founder, chairman and chief executive officer of hc1. “Anybody who has been through a health care experience or who has a friend or family member who has been through it, you hear pretty consistent stories of professionals not knowing who you are, waiting forever for a callback or not finding out what a lab result was.
“All those things going forward need to be fixed.”
The firm’s software connects the entire medical process in the cloud, allowing medical professionals or patients easy access to medical information. Doctors can share information with specialists, billing is centralized, and tracking patient testing is a breeze, Bostic said. It also lets people know when they should go for checkups, he added.
For instance, if someone is overdue for a physical or other routine procedure, hc1’s technology can alert a patient via a text message or an electronic communication that they should see their primary care physician.
All of these features help businesses watch their bottom lines. The firm boasts that it can eliminate unnecessary medical testing, cut down on no-show patients and keep everyone on the same page, allowing for cost reductions across the board.
“There’s this big rise of consumerism and the shift to a payment model that rewards you for delivering better quality,” Bostic said, adding that hc1 is similar to ordering something online: You know what to expect and when to receive it.
The company, already at about 100 employees, plans to add 25 workers to its roster this year. Its financial information is private, and Bostic declined to share it with IndyStar.
The company has been adopted by more than 7,000 subscribers across 700 health systems, laboratories and medical facilities around the world. Some of its big-name clients are the Cleveland Clinic, Sonic Healthcare and the Nationwide Children’s Hospital.
Locally, hc1 is being used by Eskenazi Health, which has been able to reduce its patient no-show rate by almost 10 percent. Eskenazi’s no-show rate was 35 percent this time last year, and hc1’s technology, which allows the health provider to text patients or send them appointment reminders, has improved business, said Parveen Chand, Eskenazi’s chief operating officer.
“From a patient-care standpoint, it’s helped. I haven’t been able to quantify a dollar amount just yet,” he said, adding that Eskenazi is considering expanding its relationship with hc1.
Mike Langellier, president and chief executive officer of TechPoint, an Indianapolis organization that promotes and accelerates growth of Indiana’s technology community, said hc1 is primed for expansion because it fills a unique niche in the health care marketplace.
The company not only weaves together a network of health care solutions — it provides unparalleled cybersecurity for the information it collects and stores, Langellier said.
“I’m hopeful about hc1,” he said. “They’re at that nexus.”
The company was smart because it identified a need that no one filled in the health care market, Langellier said. It took the best technology from cloud-based computing and applied it to widening fractures in the health care system, he said.
“They created a software platform that can help to create that Amazon-like experience for health care,” he said. “Health care systems can communicate with their patients with the same level of sophistication and precision that Amazon brings to its retail customers.”
That innovation was one of the things that helped hc1 become a 2015 finalist for the Stratus Award, which recognizes companies and individuals that are innovating in cloud technology and provide offerings that are “truly differentiated in the market.”
The award was judged by business executives and reflects how specialized hc1 is, said Russ Fordyce, managing director of the Stratus Awards.
“They really saw that the model in a … way that was the bee’s knees,” Fordyce said. “Providing that level of security and privacy in a cloud-based infrastructure was pretty unique.
“Most of the time that is pretty hard to do.”
It’s not the only recognition hc1 has garnered. The company earned the Red Herring Global Top 100 Winner in 2014 and 2013, 2013 Indiana Companies to Watch Spotlight Award and the 2013 MIRA Award Winner for Health Technology Innovation and Excellence.
For Bostic, hc1 isn’t just a business venture, it’s a personal mission. Yes, the technology helps streamline a health provider’s business, but it also helps people.
“It was recognizing that this was a need in health care,” Bostic said. “Until the incentives were there to do it, people were not very quick to adopt. This is why over the past few years we’ve gotten adopted across over 650 health care sites in six countries.”
Call Star reporter Kris Turner at (317) 444-6047. Follow him on Twitter: @krisnturner.
Other Indiana tech firms to watch in 2016
• Double Map: A software company that’s focused on transportation, Double Map allows passengers to know where their buses are, in addition to estimated arrival times. The company also allows for computer-aided dispatching of vehicles, passenger counting and safe rides for students. It has partnered with the University of Michigan and other institutions.
• TinderBox: This business allows clients to create and deliver sales proposals, presentations and contracts with a single click. The firm recently raised about $7 million in investments and has attracted former ExactTarget co-founder Scott Dorsey as its chairman of the board.
• Rook Security: This company specializes in global information technology security, specifically protecting sensitive data. Rook advises its clients and helps them identify potential threats and beef up their security structure, which sets them apart from other industry leaders, Langellier said.
• SmarterHQ: SmarterHQ allows businesses to turn data about customers into usable information. It helps a business target what a consumer is interested in and bridges the gap between online and in-store shopping. The business has landed sizable clients, such as retailer Finish Line. It also recently nabbed about $8 million in financing.