Launched by partners Healthworx and LifeBridge Health, 1501 Health selected five top innovators from 120 applicants nationally to receive up to $100,000 in investment and help develop their efforts to transform healthcare.FOR IMMEDIATE RELEASE
Baltimore, Md. – April 28, 2021 – Healthworx, the innovation and investment arm of CareFirst BlueCross BlueShieldand LifeBridge Health announce five promising healthcare innovators have been selected to participate in the first cohort of 1501 Health, an incubator for healthcare startups. 1501 Health provides investment and resources to help early-stage companies develop their healthcare solutions.
The five companies, chosen from 120 applicants nationally, are:
- Live Chair Health of Columbia, MD, builds networks of clinical and non-clinical resources and offers a range of services to address minority health disparities. Combining high-touch encouragement from trusted hair professionals and digital tools, Live Chair Health initiates client discussions about chronic health issues that disproportionately affect minority communities.
- Even Health of Annapolis, MD, a mental wellness company and creator of Cabana, the first digital counseling platform offering anonymous group support facilitated by licensed professionals accessible from desktop, smartphone or virtual reality device.
- BabyLiveAdvice of Calabasas, CA, is working to reduce costly complications and close gaps in maternal and infant care by using tech-enabled professional providers in collaboration with health organizations, employers and insurers to provide remote education, monitoring and support to expectant mothers and new parents.
- Pair Team of San Francisco, CA, the first end-to-end provider enablement solution for Medicaid, providing wraparound technology, care team and EMR-embedded support tools to coordinate patient care and automate value-based care operations.
- WellSet of Venice, CA, the premier centralized platform connecting the holistic wellness industry. Users can find and book thousands of individual and group sessions with specialists in 30+ modalities including acupuncture, health coaching, holistic therapy, aurveyda and more.
“With so many applicants doing such innovative, important work in healthcare, it was a challenge to select just five startups to form the first 1501 Health cohort,” said Emily Durfee, co-manager of 1501 Health and Healthworx. “All our finalists presented unique, achievable solutions tackling some of the most pressing issues in healthcare, but the companies we chose offered solutions and services that were most strongly aligned to the 1501 Health strategic goals of reducing healthcare costs, increasing access and improving patient outcomes.”
For example, says Durfee, “BabyLiveAdvice’s platform has decreased overall cost of care for births by 38 percent in studies. Their leadership team hopes 1501 Health can help them integrate their workflows and product with payers and providers.”
“We are excited to start working with these bright, dedicated and innovative teams in our first 1501 Health cohort,” said Pothik Chatterjee, executive director of innovation and research at LifeBridge Health. “Through the 1501 Helath partnership, we bring LifeBridge Health’s clinical and business expertise from healthcare provider side together with the Healthworx/CareFirst’s expertise and experience from the payer side. We believe this unique combination will benefit these startups as we work together on our shared vision to develop groundbreaking technologies and innovative approaches to advance healthcare and improve the health of people in our communities.”
Companies participating in the program receive up to $100,000 in investment and have access to unique mentorship and support from payer and provider experts. These experts will work with the startup to identify quarterly milestones for 1501 Health’s year-long program and support each company to reach those milestones through advisory and targeted projects.
Additionally, participants will have access to strategic relationships and potential customers, resources to support their business model and sales strategies, and the testing and development of their product in simulated medical environments.
1501 Health will also give participants the opportunity to network with other participant startups, payer and provider experts and key healthcare innovation stakeholders through its co-working environment once available, and events.
The 1501 Health name comes from the address of CareFirst’s Baltimore headquarters (1501 S. Clinton Street). When COVID-19 protocols allow, that building will be home to 1501 Health’s physical incubator, featuring co-working and collaborative spaces as well as a medical simulation lab.
To learn more about 1501Health and its first round of innovators, visit www.1501Health.com.