NEW YORK, N.Y. — Northwell Health is investing $500,000 in Playback Health as part of a targeted $1.25 million seed-round financing in software designed to improve communications between physicians and patients.
Playback Health was created by Dr. David Langer, chairman of neurosurgery at Lenox Hill Hospital, one of Northwell Health’s 23 hospitals. The platform uses screen-capture video and other patient-specific multimedia to improve patient experience, satisfaction scores and clinical outcomes.
“Northwell Health is a terrific partner for Playback Health and we are very excited to have their confidence and support as we build our next-gen, video-based patient-centric engagement solution,” said Gregory Odland, co-founder and CEO at Playback Health, in a statement.
The technology is being reengineered in the department of neurosurgery at Lenox Hill Hospital and will be deployed in other clinical areas of the hospital and elsewhere across Northwell Health later this year. Once validated at Northwell facilities, the technology will then be offered to other early adopter health systems. Using the experience gained with these early adopters, Playback Health plans to launch a full-scale commercial offering to the broader market in 2019.
Odland said failures in provider-patient communication put patient safety at risk and lead to billions of dollars in wasted health care costs and lost revenue. In response to the quickly changing health care landscape, hospitals have had to revamp internal metrics toward care outcomes and patient satisfaction scores to maximize payer reimbursements and limit readmission penalties. Patient engagement solutions that deliver on these critical metrics have become investment priorities for providers, payers and health care IT companies, he said.
The Department of Neurosurgery at Lenox Hill Hospital has been using patient-specific video technology since 2013, and has seen improved patient satisfaction scores and a higher overall hospital rating. Playback Health’s newly redesigned, next-generation, enhanced mobile technology is expected to improve on these results after its secure, cloud-based platform is deployed and piloted.
“Northwell Health recognizes the value of Playback Health in further enhancing the patient experience and reducing hospital readmissions by using technology that is proactive, interactive, personalized and, most importantly, outcome driven,” said Richard Mulry, senior vice president of operations at Northwell Ventures, in a statement.
Northwell Ventures invests in startup companies, pursues joint ventures and commercializes ideas that originate with Northwell physicians, researchers and other employees.