“As an innovation center that works diligently with high growth potential startup companies, we often take up missions to help solve big issues these companies face," Mark Galvin, Managing Partner at the NEIC.
Portsmouth, NH (PRWEB) October 07, 2014
The New England Innovation Center (NEIC) announced today the creation of, MMS Analytics, Inc., a new company created to reverse the upward trend of healthcare costs. The company’s product suite, MyMedicalShopper, grants the medical patient simple access to all the information necessary to make intelligent cost/benefit decisions. The company will introduce the product later this month and will ship in November. The initial product suite includes a consumer mobile application designed for patient use at the point of services while they are receiving a doctor’s advice and recommendations.
Initially, MMS Analytics, Inc. is focused on helping New Hampshire employers, employees, and patients.. They plan to expand both regionally and nationally during 2015 and 2016. Mark Galvin, Managing Partner at the NEIC, explains how NEIC became involved in the development of MyMedicalShopper. “As an innovation center that works diligently with high growth potential startup companies, we often take up missions to help solve big issues these companies face. We have worked on freeing up risk capital for investment, worked on solving the dearth of software developers in NH, and we’ve studied methodologies to reverse the cost of employee healthcare benefits. With regard to reversing the cost of healthcare, we discovered we could create some very slick technology to interpret, create and display the symmetric data needed to start to make the healthcare market act like a fair market. As we studied it further, we found that building an enterprise to deliver the tools and services to the true consumers in this market was the best delivery method. The company has a strong profit motive while also being highly motivated by its mission to solve what has become one of the biggest issues NH and the country face – unsustainable healthcare costs.”
Matthew Robinson, co-founder and VP of Engineering adds, “We got thinking, if Google Maps running on a mobile device can tell you how to navigate from Manchester to Manhattan, with real time traffic avoidance, while helping find low cost gas and good food along the route, why couldn’t we use the latest mobile, web and cloud technologies to solve the healthcare cost problem? We looked at what was being paid on average for medical procedures in NH, and compared that to what a fully informed consumer would more likely spend. For the top 100 most common procedures in NH, which occur about 2.1 million times in a single year, we found that roughly $486 million spent could be reduced to about $120 million. A savings of $366 million just by shopping!”
MMS Analytics, Inc. will continue to operate at the New England Innovation Center in Portsmouth with Mr. Mark Galvin, co-founder, serving as President and CEO.
About MyMedicalShopper (http://www.MyMedicalShopper.com)
MyMedicalShopper was created to reverse the upward trend of healthcare costs by giving the medical patient simple access to all the information necessary to make intelligent cost/benefit decisions. We achieve this using the latest technologies, by assuring the highest employee engagement, and by leveraging an exclusive network of dedicated healthcare benefit brokers that are experts in developing comprehensive plans with properly aligned employee incentives.
About the New England Innovation Center (NEIC) (http://www.ne-ic.com)
A new startup business accelerator model, launched by a team of respected New England technology entrepreneurs, the New England Innovation Center’s mission is to create and/or drive the equity value of a highly competitive selection of early stage companies from throughout New England. Selected companies use the experienced NEIC startup staff to complete key assignments, leveraging the staff’s expertise in go-to-market strategy, market analysis, marketing communications, sales, channels, operations, finance and human resources. In addition, the companies share a high-energy environment and business resources, such as office space, meeting areas, communications systems and operations management services.