News
Redox and Medable Partner to Offer the First Fully-Integrated Medical Research Platform
Recently, we announced a partnership with Medable to integrate iPhone and Android-collected clinical studies data directly with any EHR. This furthers Medable’s mission of enabling researchers to be digital health innovators—an objective that we're passionate about as well. In Freakonomics’ Bad Medicine series part-1, Stephen J. Dubner sheds light on one of the trickiest things about practicing, saying, “Let’s say you’re a doctor, and a patient comes to see you with a persistent headache. You make a diagnosis, and you write a prescription. What happens next? In many cases, you have no idea."
Calling All Digital Health Companies in Chicago!
Redox is hosting an exclusive hackathon at Matter on June 23rd! If you’ve ever been asked “how does your product integrate with [insert EHR]” or wished you could demo your product receiving data from and EHR (and sending it back in), read on. The goal? To build true end-to-end integrated demos of your healthcare product or solution to help strengthen your sales efforts. Why? For too long, health-tech startups have been unable to show prospective customers what their solution interacting with and using data from an EHR. We’re out to fix that once and for all. How? Thanks to the good folks at Allscripts and drchrono, we've gained access to sandbox EHR instances. Using our Redox Developer Tools and these environments, our application partners can finally demo the full scope of their integrated workflows. Our plan is to host a one-day hackathon at MATTER (shoutout to them for all of their help!) with two sessions—one in the morning and one in the afternoon. During the morning session, we'll teach a class on “how to sell integration” and spend the afternoon doing the development to get demos live.
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What We’re Thankful For
Thanksgiving is upon us! To kick off the holiday season I polled the Redox office with a simple question: "What are you thankful for?" Enjoy and let us know what you're thankful for this year in the comments :). "I am thankful for our team. I can't believe I work with a team as committed to doing the right thing even when it is hard, and who is as passionate as I am about solving a problem. I am also thankful for (sustainably) raised bacon (mostly since I'm always eating some form of fat)." Rebecca DenHollander, VP of Strategic Partnerships
How to Build a Multi-Sided Network
At Redox, we’re building a multi-sided network of health systems and healthcare technology vendors on a foundation of interoperability and ease of adoption. The value props for each side are simple but powerful: health systems get a single connection to cloud-based applications, eliminating redundant infrastructure costs and reducing the interface management headache, while applications get a single API to connect to that allows them to interoperate with dozens of systems being used at the hospitals and provider groups they sell to. In this article, I’ll describe the steps we’ve taken to build this network and the major decision points we’ve crossed along the way. Step 1: Pick a Loss Leader and Start Subsidizing The first step in building a multi-sided network is acknowledging that you can’t start out with the platform in its end state. Specifically, no one wants to join an empty platform, so choosing one side of your network to market to first and subsidizing their interactions is an extremely important first step. A great example of this is how Uber got started: they subsidized drivers to be available even if there were no riders. This maintained their supply until demand caught on. The idea is that you find a single-sided value proposition for your loss leader that encourages early adoption. This is something from which they’ll receive value, and more importantly, it’s something that will keep them engaged while you build enough momentum to realize your network potential. At Redox, the application developer community is where we directed our initial focus, and we were able to subsidize their interactions with our platform by providing free developer tools. These tools allow application developers to create a fully-simulated integrated workflow without needing to have a health system implementation on the other side. In doing so, many early-stage companies came to us to help them get past their own chicken-and-egg problem of needing to demonstrate integration before signing with their first health system. There are a few key factors to consider when choosing which side of your network to subsidize: