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Bizi Mondays: MyHealthVault

Photo by Nguyễn Hiệp / Unsplash

I document ideas all the time. It’s an exercise to keep my mind active regarding business model ideation and strategy. Every now and then, on Mondays, I will publish a new business idea for anyone to take.

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“Bizi Mondays” = Business (Biz) + Ideas (i) + Mondays.

To start off, I am laying out an idea for managing personal health records digitally and seamlessly, powered by AI.

Inspiration

Inspiration 1: Tripit

Anyone who travels frequently should know about Tripit. Originally designed as a travel manager, Tripit operates quite simply. Whenever you make a trip reservation, you forward the email confirmation to plans@tripit.com. Tripit recognizes that the email came from you and analyzes its content. For example, if you made a flight reservation with United, simply forward the reservation to Tripit. Tripit will recognize that it is a flight reservation and import all the details into your profile. Then, when you access your Tripit account, all your travel details are integrated into one user experience without requiring you to enter every single detail of each trip.

Inspiration 2: 1Password

I have written about 1Password, which allows anyone to create and securely store passwords. Additionally, 1Password can also securely store other sensitive information such as credit cards and certificates. It provides a safe way to keep sensitive information secure.

Inspiration 3: Artificial Intelligence

We have entered a new and exciting era in which the potential uses of A.I. have been democratized, thanks to platforms like ChatGPT. No longer is A.I. reserved for the tech elite. It is being employed in myriad innovative ways, ranging from generating avant-garde digital art to penning entire novels. A.I. is even being leveraged to provide therapeutic advice to those in need, showcasing the incredible versatility of this technology and the boundless possibilities it holds for the future. Finally, A.I. can receive a relatively disorganized set of data, interpret it in seconds, and normalize it.

Current State: Dispersed Electronic Health Records

Since the inception of the internet, there has been a battle for the personal Electronic Health Record solution. While different standards and advancements exist, they vary from country to country and from state to state. Most technology providers will offer their own solution and promote it when contacting healthcare organizations. Additionally, many health centers and doctors hesitate to provide their patients with information due to confidentiality or potential conflict of interest.

Solution: MyHealthVault (MHV)

An A.I. Powered Personal EHR

The workflow for managing my health data should be simple.

First, I go to my yearly check-up and consult with my doctor.

Then, I receive my lab results and analysis via email.

Once I receive the results, I forward them to docs@myhealthvault.ai. My Health Vault (MHV) receives and interprets the results, and within seconds, all the data is integrated into my MHV profile. This includes information such as the date of my test, glucose levels, heart rate, blood pressure, and more.

As I continue to take more tests, MHV will keep integrating all the data that I forward to it.

Thanks to MHV, I now have a single place where all my health data is integrated and normalized. Gone are the days of downloading a PDF, storing it somewhere in my cloud drive, and searching for it when it becomes relevant. Moreover, MHV can send me reminders for things like new check-ups or metrics that need periodic updating, much like a car maintenance system.

The obvious revenue model is a subscription, where users pay a fee to store their personal health data in a secure and easily accessible platform. Other possible revenue streams include reminders for appointments, medication, and lab tests, as well as personalized health recommendations based on the user’s health data.

Closing Thoughts

Ideas are abundant, but people who take action are scarce. Hopefully, someone is already working on something similar to this. If that someone is you or someone in your organization, please let me know. At Atomic32, we assist and partner with entrepreneurs and health organizations to bring these innovations to market.