NudgeRx and CEO David Schuster won the First Look Award at OCTANe MDIF 2011. This award is given at each OCTANe Signature Event to the start-up company that makes the best first impression at a private reception held before the event. The reception is for Signature Event sponsors and companies making investment presentations at the event. David Schuster beat out fourteen other CEOs to win the award.
NudgeRx helps health insurance company and hospitals reduce the costs of unplanned readmissions and ER visits following patient discharge from the hospital. The Company’s offering provides patients and their home caregivers with personalized online recovery monitoring backed by clinical personnel 24×7. Patients get a daily recovery plan (via Smartphone, PC, or voice-only phone) with monitoring questions, daily tips, to-do lists, and medication reminders. NudgeRx expects to cut readmissions by more than 20%. For every 100 patients that use the NudgeRx recovery support solution, an insurer should avoid at least 7 readmissions that typically cost $7.5k or more per case. The savings per patient of $525 represents a 1.6X return on $335 per patient paid to NudgeRx. An insurer with 1M covered lives will save nearly $25M per year.