The year 2020, has made us all aware of the importance of healthcare and has brought forth many unforeseen circumstances and problems in the healthcare industry. With the pandemic still going on, the need and demand for best-in-class healthcare facilities and services are growing. Not only this but the offset of the Covid-19 pandemic has made all of us realize the use and importance of healthcare facilities and services. Although the year 2020, has brought many innovations in this field which has not only reduced the extreme load on hospital staff and doctors but also has overall improved the services and transitions going on in a hospital or healthcare facility.
Ospitek Inc. is one of the leading names when it comes to leading IoT solution providers in the healthcare industry. Their services have revolutionized the way the hospital works and the care and related information of the patients is carried. As it is said that human resource is the most important and vital resource on our planet. Ospitek Inc. with their best-in-class service of highest standards make sure that this resource has been looked and cared for without any delay and efficiently and smoothly.
In conversation with the CMO & Board member of Ospitek Inc., Jason Momenthy. We try to find more about his company, their offerings and about his professional experience.
- Please tell us about your company, the initial challenges you faced and the reasons you feel led to its growth.
Founded in 2018, Ospitek is an IoT enabled care coordination platform improving the workflow productivity, patient experience and profitability of ambulatory surgical centers and hospitals with a suite of pre-surgery, day of surgery, and post-surgery software tools.
The healthcare technology space is extremely fragmented, and oftentimes legacy systems need to be improved or displaced. It is paramount that software platforms support interoperability, that they deliver a fantastic user experience, provide immediate value, and that there is no workflow redundancy. This requires developing great customer relationships built on trust and confidence.
Conceptually we knew the importance of introducing a system that could automate the delivery of critical information in a surgical center environment and which is where we started, IoT enabled patient journey tracking. As we partnered with our first facility our awareness of other solvable inefficacies provided us with the opportunity to strategically iterate and create more value with additional service offerings within the “View” system.
- Tell us about Ospitek’s products/services, any new additions and how do you take these products/services ahead in terms of products/services.
Ospitek is an IoT enabled care coordination platform supporting the patient journey from the moment a patient is scheduled for surgery at the surgeon office, through their Ambulatory Surgical Center Registration process and extending through their day of surgery. As a platform, we address several areas including cross-platform registration, scheduling, OR block time allocation, day of surgery tracking, family communication and facility support tools including temperature and humidity monitoring.
We have many new products and services that we will be rolling out to in the coming months however what I’d like to emphasize is our agility in creating solutions to address the recent pandemic. In response to COVID-19, we needed to support the efforts of our healthcare partners to mitigate infection risk. We quickly developed new tools to support the safety of ASC staff and patients, expanding our patient tracking module to support remote communication in consideration of many waiting rooms being off-limits to loved ones. We also added air filtration alerts to our UI to provide visibility to the safety of operating rooms for staff re-entry, at no additional cost to our clients, and we extended our IoT capabilities to include remote temperature and humidity monitoring, eliminating the need for a physical presence being needed to check on the environment condition of ORs and other critical areas such as medicine storage in hospital and outpatient surgery environments.
Our team is purpose-driven, all having experienced many of the challenges in healthcare that we are striving to change, and the experience and technical abilities of our team give us a competitive advantage.
We have a collaborative approach to our product roadmap development that starts with collaboration with our end users so that we understand the real challenges that exist day today and that need to be solved. We then collaborate internally, as a team, to determine unique, elegant, solutions to these challenges that will have the greatest impact on our customer and that will give us a scalable, competitive edge in the marketplace to accelerate growth.
- Please tell us about your professional experience and the key highlights of your entrepreneurial journey.
I started my career as an independent security researcher focusing on mobile security in the financial technology space and subsequently owned and operated a sales and product development consultancy until 2015 before moving west and spending a year working with AMN Healthcare. The last 5 years of my career have been spent in the healthcare technology space focused on introducing emerging technology leveraged SAAS ventures to the healthcare, and information privacy marketplace, as both an investor and operator.
Regardless of the endeavour, the areas that I always focus on are building a positive, innovation-driven culture, getting great feedback from customers on products adopted, and having the agility to scale indefinitely. Over the years I’ve been fortunate to contribute to some great ventures, Ospitek included, as both an operator and investor.
- Your take on employee relations and the reasons behind your company’s long-standing success.
Our team is purpose-driven, all having experienced many of the challenges in healthcare that we are striving to change, and the experience and technical abilities of our team give us a competitive advantage. Our founders have extensive experience introducing innovative technology to the healthcare and IoT marketplace and our advisors have deep industry expertise in the medical field and are comprised of some of the leading surgeons in the United States today.
Our team is committed to building scalable solutions driven by direct feedback from our end users. Best in class user experience, security, and providing a system that, in addition to solving workflow inefficiencies, will improve patient satisfaction and ASC profitability gives us a competitive edge. Being an early-stage venture I can’t speak to “long-standing” success however we are confident in the future of our organization and the impact we will have on the market.
- Constant vigilance, a need or strategy and your take on the rat-race that is going on out there?
Both, it’s essential to have an awareness of what is happening in the market so that you can respond and allocate resources accordingly and it’s equally important to have an underlying strategy for this. Both are essential for the scalability of any venture.
I avoid the “rat race” by only working on projects that I enjoy, with people I enjoy working with, and that involve building products that need to be adopted at scale. With competition being a driver of innovation, especially in healthcare, there are always interesting opportunities in front of us.