WellBeam transforms workflows between MD teams and their post-acute partners continuing the medical care of their patients. Through its EMR integrated solution, WellBeam reduces home health readmissions, drives provider wellness through 30% less administrative workflow, and captures underbilled CMS codes available to providers.
WellBeam's core value is that it is built to address providers' most common and yet least glamorous and operationally complex workflow complaint for why their patients present as re-admissions - often after receiving often great care in the hospital... The use of the FAX machine to manage patients' post-acute care - in 2022! WellBeam is uniquely positioned through its technology and its sales motion. From a technology standpoint, WellBeam has created a tool that connects disparate EHRs on the continuum of care to allow care teams to engage in seamless communication, via e-signature, e-authorization, and direct messaging, as well as links that record of care back to the EHRs on either side. This includes Epic, Homecare Homebase, WellSky among other major EHRs. WellBeam's billing capabilities automatically generates charge codes for care orders processed through the WellBeam platform - care that is most often un-billed, allowing institutions to recapture otherwise lost revenue. From a sales and operational perspective, WellBeam has carefully approached geographic and referral volume considerations to build critical mass on both the acute and post-acute sides of the platform, coming together to create an impactful tool fueled by the network effects of a two-sided marketplace. WellBeam shows increasing velocity in building out footprint, as targets on either side of the marketplace overlap through referral networks, and the onboarding motion becomes streamlined. Therefore, WellBeam is differential in both the post-acute and acute network it brings to its product, as well as the increasing speed, and therefore value, with which that network will expand.
WellBeam replaces the incredibly dated system of fax and telephone tag between acute (MD teams) and post-acute providers (home health agencies), following a patient's discharge from acute care. Traditionally, post-acute provider submit orders by fax to the acute care provider, which has an average turn-around time of 18 days to signature. This lengthy delay raises the probability of patient readmission and further deteriorates clinical outcomes. WellBeam digitizes this process and has resulted in a 95% decrease in average time to order signature - down to ~24 hours! When there were patient deteriorations post-discharge taking place at home, the delays in phone-based communication between the clinical home health team and the MD team following that patient, would result in ER visits and readmissions. WellBeam's EMR-integrated, digital instant messaging allows clinicians to communicate real-time with MD teams to keep patients recovering successfully at home. Furthermore, there are missed revenue opportunities associated with this workflow living in fax and phone calls, for which WellBeam automates the billing process. This revenue opportunity is significant - a bottom line of ~$3.5M for a health system around the size of Stanford Health. Finally, WellBeam significantly reduces provider administratieve burnout by integrated an analog workflow directly into the EMR, and reducing time spent by MD teams by 400 hours/year/team physicians on scanning, faxing and manual charting.
WellBeam is currently completing an IRB study led by Stanford Healthcare's Population Health and Primary Care Service Line. This study has cuts across all patient diagnostic areas and service lines - from orthopedics, to cancer surgical patients to primary care patients. The IRB study analyses patient data across 100+ MD teams at Stanford Healthcare and 11 Home Health Agency Branches. The study is focused on demonstrating improvement in clinical outcomes and reduce readmissions, as well as improvements to workflow effectiveness and provider satisfaction. The study shows a reduction of 25% of home health readmissions, 40% of ED visits, and 400 hours of provider team time saved per year. To collect data, the 50 enrolled patents will be tracked for 30 days, both through consistent chart data review and through patient survey methods. The providers of those patients will be surveyed throughout those 30 days for data collection.