Digital Health Strategies Company Profile

Background

Digital Health Strategies (DHS), founded in 2014, is a Washington, D.C.-based company specializing in data and technology-enabled solutions for the healthcare sector. The company's mission is to enhance the digital patient experience across the continuum of care, transforming healthcare organizations into digital leaders. DHS offers services that include digital strategy and planning, workshops and trainings, and tactical implementation and program management. Their proprietary Share of Health™ platform focuses on maximizing the value of patient relationships to optimize care, build loyalty, and drive revenue growth.

Key Strategic Focus

DHS's strategic focus centers on leveraging data intelligence and technology to identify and activate patients, donors, and members who are most likely to benefit from healthcare services. By integrating personalized communications with clinical and operational workflows, DHS aims to improve care coordination, close care gaps, and enhance patient loyalty. The company's Share of Health™ solutions are designed to help health systems grow service line volumes, raise funds, build health plan memberships, and expand pharmacy capacities.

Financials and Funding

In December 2023, DHS closed a Series A funding round to expand its Share of Health™ patient loyalty platform. The investment was led by healthcare industry veterans, including:

• David Schultz: Founder & CEO of MediaLogic, who also joined the DHS Board of Directors.

• Michael H. Focht, Sr.: Former President, Executive Vice Chairman, and Board Member of Tenet Healthcare.

• T. Dennis Jorgensen: Former Senior Vice President and Chief Ethics Officer at Tenet Healthcare.

• Bob Dresing: Former Chairman of CareMetx and Founder of TheraCom.

• Mark Hansan: Executive Chairman of CareMetx and Co-Founder of TheraCom.

• Craig Goodman: Healthcare consultant and investor, former Partner and COO of Lifematters.

The funds are intended to bolster DHS's data and technology solutions, enhancing client capabilities in building loyalty, improving care coordination, and closing care gaps.

Technological Platform and Innovation

DHS's Share of Health™ platform is a proprietary data intelligence solution that identifies patients, donors, and members most likely to benefit from specific services. The platform integrates personalized communications with clinical and operational workflows, facilitating relevant and timely patient engagement. By combining business intelligence, clinical expertise, data science, and consumer engagement, DHS delivers customized, AI-powered data intelligence tailored to each client's unique patient population.

Leadership Team

• John Simpson: Co-Founder and Co-CEO, with a background in digital engagement and technology.

• Ben Texter: Co-Founder and Co-CEO, also with experience in digital engagement and technology.

• Paul Matsui: Chief Data Officer and Vice President of Strategy, formerly Executive Director of Optum/The Advisory Board Company’s Data and Analytics Group and Chief Strategy Officer of Socially Determined.

• Arif Bandali: Chief Technology Officer, overseeing the technological development and implementation of DHS's platforms.

• Kristin Byrne: Vice President of Finance, managing the company's financial operations and strategy.

Additionally, Barry Schochet serves as an advisor to the senior management team. Mr. Schochet is an operating partner at CIC Partners and the former Vice Chairman of Tenet Healthcare.

Competitor Profile

Market Insights and Dynamics

The digital health industry has experienced significant investment, with over $100 billion invested globally between 2020 and 2022. However, returns have been slow due to intense competition and the ease with which patients can switch between applications. Mental health platforms, in particular, face challenges in attracting and retaining users, leading to high costs and declining revenues for companies like Teladoc. Additionally, large tech companies entering the market pose a threat to existing telemedicine services.

Competitor Analysis

Key competitors in the digital health space include:

• Epic Systems: Develops electronic medical record software used by numerous top-ranked hospitals and medical schools.

• Teladoc Health: Offers virtual healthcare services, including mental health platforms like BetterHelp.

• Amazon Health Services: Provides telehealth services with competitive pricing, impacting existing telemedicine companies.

Strategic Collaborations and Partnerships

DHS collaborates with some of the largest and most respected health systems in the United States, including Geisinger, Hackensack Meridian Health, and Providence Health. These partnerships enable DHS to implement its Share of Health™ solutions effectively, enhancing patient engagement and loyalty across diverse healthcare settings.

Operational Insights

DHS differentiates itself through its proprietary data intelligence solutions and personalized patient engagement strategies. By focusing on the unique characteristics of each health system's patients and operations, DHS delivers relevant communications that drive deeper, long-term relationships. The company's value-based contracts, which put a portion of fees at risk, align its success with that of its clients, fostering a collaborative approach to improving patient care and loyalty.

Strategic Opportunities and Future Directions

With the recent Series A funding, DHS is poised to expand its Share of Health™ platform, enhancing its data and technology capabilities. The company aims to connect more patients with the care and services they need, convert grateful patients into donors, and support health systems in owning more of the continuum of care.