...Changing The World

RightCare Solutions [2012].

Project Description

RightCare Solutions [2012]

  • Eric Heil, WG’12 (team leader)
  • Mrinal Bhasker, WG’12
  • Matt Tanzer, WG’12
RightCare Solutions - Michelson Grand Prize 2012 - Wharton Business Plan Competition
Descriptive

RightCare Solutions has licensed the intellectual property rights to a proprietary algorithmic discharge decision support system (D2S2) from the University of Pennsylvania. At admission (within first 48 hours), D2S2 can help hospitals identify high-risk patients for a readmission. Medical personnel could then focus on high need patients, and coordinate care during a patient’s hospital stay, thus improving care plans after discharge.

Eric Heil, Matt Tanzer and Mrinal Bhasker, all second-year MBA students, explained that RightCare Solutions addresses the $30 billion U.S. health care issue of patients needing to be readmitted to the hospital within 30 days of discharge. RightCare has successfully completed its first case study at a major hospital, testing readmissions before D2S2 and then after D2S2.

The data is currently being drafted for publication, but it is worth noting that a significant reduction in 30-day readmissions was observed when using D2S2 compared to without D2S2. RightCare has developed D2S2 with ‘smart capabilities’, such that D2S2 gets smarter over time (as usage increases) because of its closed loop integrated system design. Thereby, RightCare can re-calibrate D2S2 accordingly as the database grows, without needing significant development time.

And The Winner is…

On April 26, 2012, The Wharton School of the University of Pennsylvania awarded RightCare Solutions the $30,000 Michelson Grand Prize of the 2012 Wharton Business Plan Competition (BPC). Notably, the RightCare Solutions is the first Executive MBA team to take the top prize in the Wharton Business Plan Competition; the student team is comprised of three classmates from the Wharton MBA Program for Executives in Philadelphia.

The prize was awarded at the Wharton School’s annual Venture Finals on April 25, 2012, where student finalists received more than $115,000 in combined cash prizes, in-kind legal/accounting services, and office space at a Philadelphia co-working community for start-ups.

RightCare Solutions has also been selected as one of three finalists for the Jenssen Connected Care Challenge, which includes receiving a $50,000 award.

RightCare Solutions Wharton BPC

RightCare Solutions Wharton BPC

Judges
  • Michael Burns, EE’95, GEE’95, W’95; Managing Partner, Alara Capital.
  • David A. Cohen, PAR’14, PAR’16; President, Karlin Asset Management.
  • Richard Perlman, W’68; Chairman, Compass Partners, LLC.
  • Santo Politi, WG’97; General Partner, Spark Capital.
References
Media
The Michelson Medical Research Foundation is a proud Platinum sponsor of the Wharton Business Plan Competition and benefactor of the Michelson Entrepreneurship Award thanks to the generous support of Gary K. Michelson and his wife, Alya Michelson.

The Michelson Medical Research Foundation is a proud Platinum sponsor of the Wharton Business Plan Competition and benefactor of the Michelson Entrepreneurship Award thanks to the generous support of Gary K. Michelson and his wife, Alya Michelson.

The Michelson Medical Research Foundation is a proud Platinum sponsor of the Wharton Business Plan Competition and benefactor of the Michelson Entrepreneurship Award thanks to the generous support of Gary K. Michelson and his wife, Alya Michelson.

The Michelson Medical Research Foundation is a proud Platinum sponsor of the Wharton Business Plan Competition and benefactor of the Michelson Entrepreneurship Award thanks to the generous support of Gary K. Michelson and his wife, Alya Michelson.

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