Each month, we round up breaking news featuring 1501 Health, our cohort companies and partners.
May features the celebration of new chapters for our cohort companies, a deep-dive on mental health resources can for healthcare workers, and a special note from Richard Gurley about why he founded Ryse Health after vowing to never start his own company.
"Ready, Set, Pitch. 1501 Health Graduates First Cohort of Innovators, Launches Next Cohort of Seven Startups"
1501 Health | May 17, 2022
The Brief:
It’s graduation season. On May 17th, the five healthcare startups selected for 1501 Health’s first incubator cohort took the lessons from their intensive, accelerated year of business development, networking and mentorship and pitch their innovative solutions to investors.
In 2021,1501 Health selected five companies from a pool of more than 120 applicants that demonstrated the most potential and promise for improving health outcomes and the patient experience and who could benefit from the unique payer-provider expertise of the program.
The next cohort joining the 1501 Health program was selected from 112 international applicants. This group consists of seven companies, six of which are women-owned.
“The companies in the second cohort have a wide range of focus areas – from aging populations to infertility to chronic conditions – but they share a focus area with the first cohort, a shared vision to address social determinants of health,” said Emily Durfee.
The Media Coverage:
"1501 Health showcases incubator space as it graduates first cohort"
Maryland Inno | May 18, 2022
"1501 Health Graduates First Cohort of Innovators + Demo Day"
Citybizlist | May 24, 2022
“Why I co-founded Ryse Health”
LinkedIn | May 24, 2022
Featuring Richard Gurley, co-founder of Ryse Health
I told my wife, “I don’t know if I’ll end up at a 4-person company or a 40,000-person company, but the one thing I know I won’t do is start my own company.” And yet, here I am: co-founder of Ryse Health, a new startup helping patients manage type 2 diabetes and other chronic diseases. The obvious question that springs from that epic flip flop is “Why?”
The simple answer is because people need it. Every year, 1.7 million Americans die from chronic disease despite our country spending $1.1 trillion in treating those diseases.
We’re lowering patients’ HbA1c by two points in their first 90 days, significantly reducing their risk of hospitalization and overall healthcare costs.
And our patients are consistently telling us this is the best healthcare they’ve ever received, with one saying Ryse “restored my faith in the medical community” and another “I realized my life isn’t going to end with diabetes.”
We’ve still got a long way to go, but we’re on the road to get there. This is why I teamed up with Erin Kane, MD to start Ryse Health.
“Mental Health Providers Launching Tech Innovations”
The Daily Record | May 22, 2022
Featuring David Black of Even Health
The Brief:
For stressed health care workers, a mental health oasis awaits on their computer or phone — they log into a virtual space and see large windows with expansive nature views, calming music, a caring therapist, and other people just like them — but through a filter of anonymity.
This is the virtual mental health care experience offered by Cabana, a product of Annapolis-headquartered Even Health.
For Kristine Hoestermann, the head of mental wellness at Even Health and a licensed social worker, the burnout during the pandemic was only too real. She was working for health care providers and putting in 10-14 hours per day providing virtual private therapy to clients back-to-back.
When the opportunity came up at Even Health, Hoestermann realized that clients could benefit from different virtual solutions like Cabana, where she facilitates groups.
“We have to focus on not just improving mental health access but in addressing the barriers that keep people from taking that first step,” David Black said.
“Cost, stigma, trust, and convenience are practical barriers that need innovation – and it’s why we’re looking to expand social support as a means of helping individuals engage earlier.”
To learn more about our 1501 Health program, head here.
About 1501 Health
1501 Health is a unique partnership between Healthworx and LifeBridge Health, representing expertise in both health insurance and financing (payers) and healthcare delivery and services (providers). The investment and incubation program empowers entrepreneurs to get their innovative solutions to market and expand their impact in healthcare quality, access and affordability. To learn more about 1501Health, visit www.1501Health.com.
About Healthworx
Healthworx operates at the intersection of healthcare and innovation by creating, co-creating and investing in companies that are improving healthcare quality, accessibility, affordability and equity. As the innovation and investment arm of CareFirst, Healthworx envisions a healthier future for all people by changing the way health works. To learn more about Healthworx, visit https://www.healthworx.com.
About LifeBridge Health
LifeBridge Health is one of the largest, most comprehensive providers of health services in Maryland. LifeBridge Health includes Sinai Hospital of Baltimore, Northwest Hospital, Carroll Hospital, Levindale Hebrew Geriatric Center and Hospital, Grace Medical Center and related affiliates. For more information, visit www.lifebridgehealth.org.