Transforming social media into a healthcare quality rating agency.

The invention
The Patient Experience Platform (PEP) is a system that reads and combines multiple sources of patient feedback (incl. social media like Facebook and Twitter) to form a near real-time collective judgement on quality for individual hospitals and departments on any given date. The underlying algorithm, the Patient Voice Tracking System (PVTS), has been shown to offer an effective predictor of the outcomes of in-depth quality inspections of hospitals in England. The publication detailing these findings remained the most read article in the BMJ Quality & Safety journal for five months after its publication.

PEP solves the following problems currently experienced in monitoring the quality of care:

  1. Costs of information collection (visitations and surveys are expensive)
  2. Throughput time (quality ratings lag behind reality)
  3. Quality, trustworthiness, independence (inspectors are not the actual patients)
  4. Demographic and hindsight bias (existing surveys are skewed towards older patients reflecting on their care after the event).

Potential customers of the platform include healthcare providers, consultancies, insurance companies and care purchasers, information providers / platforms, inspectorates and patient organisations. The underlying algorithm also works for other markets, and has been validated as an instrument for collecting student voice for UK higher education institutes. The venture will commercialise this opportunity around the world, building on existing traction in the UK and expanding fast to healthcare markets in the US, Germany and other promising EU-countries, as well as emerging opportunities in the Middle-East and Asia.

The Startup CEO
The CEO will build an organisation which at its core is a data and analytics platform that independently sells quality rating information to end users and/or plays the role of an engine behind other players that market the information (“powered by PEP”). The exact products and corresponding business models will be developed by exposing the value propositions to the market. Working closely with Alex Griffiths and Meghan Leaver (co-founders of the Newco and inventors of PEP) and supported by NLC, the CEO will have the following key responsibilities:

  • Define and executive strategy including earning model with initial focus on Healthcare providers.
  • Utilize current opportunities in the UK and prepare for international (global) expansion.
  • Develop productive relationships with all parties involved, including trusted information sources,  other platforms and customers (hospitals, etc).
  • Guide development of the technology to fully-scaled platform solution
  • Raise finance for Newco
  • Develop the exit strategy for the founders of Newco
  • Manage and grow the Newco team

Competencies required

  • Entrepreneurial drive in a startup environment
  • Developing action oriented strategy
  • Executing plans
  • Leading individuals and teams
  • Networking and influencing

Prior experience

  • Professional experience to embody the required competencies and demonstrating track record including experience in the UK Healthcare industry.
  • Carried overall responsibility for a company, business or (development) program. Experience as entrepreneur / Founder is a plus.
  • Preferably start-up experience involving platforms, SAAS (Software as a service) and/or Algorithms.
  • Experienced dealmaker. Ideally including financing of early stage ventures.
  • Preferably experience with patient or consumer data management including handling regulatory requirements

Other

  • The CEO is interested in equity-based remuneration and accepts tying initial cash compensation to the success of founding and funding the company.
  • Co-funding is possible. 

Interested to learn more? Please contact Eva van Rooijen via eva.vanrooijen@nlc.health