Healthcare Business News

N.Y. digital-health initiative aims for jobs, better care

By Jaimy Lee
Posted: October 15, 2012 - 2:30 pm ET

The New York eHealth Collaborative and the Partnership for New York City Fund have selected eight early- and growth-stage companies developing healthcare technology products to participate in their digital health accelerator initiative.

The goal of the New York Digital Health Accelerator is to make New York state a hub for digital health technology, the organizations said in a news release.

"The initiative, which promotes a shift from the costly fee-for-service model to a more effective and efficient managed-care approach, is resulting in better care—at lower cost—for patients across the continuum of care," New York State Health Commissioner Dr. Nirav Shah said in the release. "The accelerator is an essential first step to stimulate the market and nurture innovation within the entrepreneurial community."

The companies, which are expected to attract at least $150 million in investments after participating in the program, have each committed to opening an office in New York state. More than 20 New York healthcare providers are serving as mentors to the participating companies; each of the companies will receive up to $300,000.

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The selected companies include: AdhereTx, a provider of a Web-based medical management software system; Aidin, a Web-based platform that collects data about the performance of post-acute-care providers; and Cureatr, a group messaging system that aims to improve how providers coordinate patient care.

The accelerator was announced in April. It plans to award a total of $4.2 million to the eight companies named Monday.

An earlier version of this story incorrectly stated that 12 companies would share in the $4.2 million.

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