terryjsmith

قبل سنتينdiscuss

I'm working on a "low code" web app that helps developers build web apps (not marketing or blogs or e-commerce sites). Create your data models in the app and get an API, a database (or connect your own), and a Next.js app with all of the scaffolding, models, forms, validation, API calls, policies, access and authorization, etc. ready for you to use and customize.

terryjsmith

قبل 5 سنواتdiscuss

TBH I didn't dig all that deep. Once you look at the size of the market (~6000 US hospitals, most of them in groups [0]), annual subscription (would need to be some fraction of what they would pay in penalties), percentage of market share you could capture (say 25%), discounts for groups, level of support, investment and unknown source systems, etc., I didn't evaluate it as a viable / likely opportunity, especially outside of our existing market.

All of that said, if you knew the space and backend systems and could figure out a way to make it easy, one thing I did hear is that hospitals don't like to be non-compliant, so I think they want a solution (or this to just go away), it just needs to be a really minimal investment for them in cost and time to implement and maintain. The provider data coming into play in 2023 may be the main driver to "normalize" some of this being out in the open.

Usual disclaimers again: my views, not my company's.

[0] https://www.aha.org/statistics/fast-facts-us-hospitals

Edit: add source.

terryjsmith

قبل 5 سنواتdiscuss

I agree with everything you said. We're in the ACA space, so this should been right up our alley (government puts new legislation in with penalties to force employers to do something they don't really want to), but the ACA had a much bigger stick and a much longer runway.

Starting January 2023, insurance companies and plan providers need to publish similar data, so to your point that might be the interdependency required for compliance.

Obligatory these views are my own, not my company's.

terryjsmith

قبل 5 سنواتdiscuss

I did some research into this for my current employer and the challenges are pretty well laid out here: the penalties are minimal ($300 / day or $~110,000 per year), the data is kept in the invoice or billing systems, which are complex, and the hospitals do not want to share the truly groundbreaking data, which is the per-provider costs.

In addition, when you Google for competitors you don't find a lot of them, but once you start looking at hospital websites you find that quite a few of them (about 50% of the ones I looked at) have at least a partial solution, often provided by their analytics company as an add-on or footnote.

It does not appear there is a great market opportunity here unless the penalties increase (which the CMS has talked about vaguely, but hospitals are already asking for relief until after the pandemic).

terryjsmith

قبل 5 سنواتdiscuss

My understanding is that the bonuses were paid out in the final stages of the negotiations for the bailout package.

terryjsmith

قبل 6 سنواتdiscuss

This is great. How do they deal with the on-going maintenance of the tools they build? Do they move to the main product team or does the internal systems team continue to maintain them?

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