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Hospital invoice format for Logistics

[Music] we have a platform that makes surgical teams way more efficient reduces errors improves business relationships with vendors and supports positive patient outcomes uh through smart contracts enabled through our platform and so what makes our really our approach really unique is that this is like we mentioned before built on 30 plus years of working in this space so we really do understand our customers problems innately uh smart contract Technologies provides autonomous capabilities for these tasks and reduces non-clinical burden on healthcare workers so what that means for them is a faster more accurate experience with a lot less headaches in their work day and above all everything that we do is really centered around patient safety patient privacy and patient outcomes [Music] good afternoon I'm John Hatchell co-founder and CEO of tie-dye health I'm happy to be with you all today to explain to you uh how we're trying to solve challenges in healthcare uh that we myself and my co-founder have uh either observed or participated in uh in the past 30 plus years of our experience uh with Healthcare customers through the med tech industry and so to do that I want to walk you through a little bit of an experience of what most folks in surgical services are dealing with today so if you're a surgical staff member today some of the things that you might hear folks stay or did we put all these stickers sheets or stickers on the chart sheet because I need to fax this over to a vendor so we can get a replacement product for tomorrow's surgeries if you work in finance in some type of surgical facility some of the things you might be hear these folks say are do you know which products we're using this surgery for this patient because we don't have a record uh and we have vendors hounding us for purchase orders again and then if you're the vendor sales representative who's kind of tasked with the quality control of of managing these devices some of things you might hear these folks say are I promise all these implants we're we're here for that patient uh on Friday and now I'm missing products for the case do you know if it got used over the weekend and really all this is done to do is a little exercise to show you that until now procuring and purchasing physician preference uh medical devices for surgery has been a really friction-filled process and so it's filled of time consuming paperwork uh you know really bad data uh and processing of information uh way too much guesswork and you can probably guess the result uh you know over a trillion dollars uh spent in administrative costs annually uh 40 billion dollars in waste tied to invoicing uh five billion dollars in erroneous payments tied directly to pricing accuracy due to contracts and then we've got 80 of our health care facilities still using paper-based processes and this pertains to transaction statements invoices and checks and so our business at Sonic Health is this uh our we have a platform that makes surgical teams way more efficient uh reduces errors improves business relationships with vendors and supports positive patient outcomes uh through smart contracts uh enabled through our platform and so what makes our really our approach really unique is that this is like we mentioned before built on 30 plus years of working in this space so we really do understand our customers problems innately smart contract Technologies provides autonomous capabilities for these tasks and reduces non-clinical burden on healthcare workers so what that means for them is a faster more accurate experience with a lot less headaches in their work day and above all everything that we do is really centered around patient safety patient privacy and patient outcomes and so the ways that we're trying to impact care are around these four pillars of digitization really digitizing every paper-based process that we interact with automation automating administrative processes that really overburden health care workers uh in their day-to-day safety validated validating that products are indeed safe for use in patient care and transparency providing 100 transactional visibility in these really uh necessary business to business relationships and so from our platform what folks in healthcare can expect is full line of sight for supply chain and end-to-end commerce solution the ensurity that their vendor contracts will uh will be adhered to the standard patient privacy and data protection product safety and compatibility providing an internal messenger Suite so that these folks who really do work in a matrix Department the department have the ability to communicate especially with sensitive information uh in an area that is a little bit more controlled full Enterprise visibility and then real-time data dashboards that give these folks all the actionable insights they need on what's happening within their organizations we're particularly bullish on the ASC market right now as many of you may or may not know uh the the ambulatory surgical Market is exploding right now uh and there's a real opportunity here for us to disrupt uh the current incumbents by providing consolidation we've observed up to 11 to 12 Healthcare I.T systems being used in some of our customer discoveries with ambulatory surgical centers today and so uh right now we are out seeking to raise three million dollars in our seed round uh really to uh hire the technical team that we need Business Development folks and then the account implementation teams uh necessary to facilitate a lot of what's uh needed in our business models um a lot of this is committed so uh looking forward to finding other folks to add to the cap table and really what we're trying to do is uh get everyone to understand that we've got a unique opportunity with tie-dye uh to really be uh the core of the Hub here uh as as far as a system to provide the value efficiency transparency and collaboration that's truly being missed uh today as a especially uh in the needs of surgical Services uh thank you for your time so can you tell us a bit more I think be helpful for background what's happening in the ASC Market um and why that's such an immediate opportunity for you all yeah so the the thing that's happening right now is that we've seen a large shift of surgical volume that's moved to ASC space uh particularly uh because of the opportunity uh for surgeons to diversify their revenue streams um so they can have the opportunity to have Equitable Arrangements in these ASCS that provide them with the opportunity to uh have ownership now and capture facility fees so um this obviously in certain Specialties has driven a lot of these Specialists into these Arrangements uh and these Trends uh will probably lead to surgery being taken out of the hospital setting and moving to the ASC setting um upwards of almost you know 70 to 80 percent of all procedures being done in an outpatient setting in the next 10 years it's a big shift it is it is a large shift um it makes a lot of sense it's going that way um you talk a lot about patient safety so how's your system contributing to safer patient experiences yeah so we're able to use Smart contracts to essentially be the last line of defense before products are opened and utilized in a surgery and right now uh the only uh Last Mile for quality control of or for product compliance is the human element so this is a really exciting opportunity uh you know to provide uh some digital uh you know safeguards and digital checks and balances on product before uh you know they're they're actually open and utilized in a procedure and it's it's actually pretty shameful to think that in this the day and age we don't have any uh any real technical barriers for these products before they're used that is a little alarming when you think about it um question from an attendee is your product something that's integrated into existing purchasing software yeah so it's front end and back-end integratable so uh obviously we interact with surgical scheduling data from from an EMR and on the back end we interact with the DRP systems or general ledger depending on the account itself so um you know fully front and back incompatible certainly uh in certain organizations uh there there may need to be certain customizations uh depend you know specifically the ASC space where they rely more on a clinical management software solution as opposed to a general EMR and I was going to ask you about just the general competitive landscape and then there's a question here why why are you better than the Omni cell system uh well from an from a smart contract standpoint we're providing autonomous capabilities for for all this non-clinical workflow there's there's plenty of healthcare I.T systems out there that handles you know certain elements of supply chain we don't really consider ourselves uh a a a supply chain software solution uh we are a uh a a third-party manager and the problem is there's so much Nuance there and and uh in how these folks in it uh you know interact with uh with their Healthcare customers uh that that really is kind of a black box uh I I would say that we're the first void filler uh for uh this space particularly which is a 200 billion dollar market um that that is exclusive and specifically designed to uh handle uh these surgeries and and everything that that encompasses them [Music] thank you