Obtaining Expert 2nd Opinions

Recently, Credit Suisse www.credit-suisse.com kicked off their “Healthcare Disruptive Technologies Innovations” series by hosting Owen Tripp, Grand Rounds CEO, at a small group investor dinner meeting in New York City. On March 4, 2019.

Grounds Rounds Co-Founders Owen Tripp and Dr. Lawrence “Rusty” Holmann started the company by providing an employer-based solution to give employees and their families the technology, information, and support they needed to decide whether and/or where to receive medical treatment.

To help employees obtain expert opinions, the company has three buckets of physicians which includes physicians that are fully-employed, contracted experts, and other contractors for other services on the urgent care side. For the company’s non-clinical care one hundred percent of the staff is employed.

Grand Rounds initiated “Expert Opinion” which helps an individual diagnosed or if the individual wants a diagnosis, benefit from another look. “Expert Opinion” is geared to help people dealing with complex medical conditions obtain an expert to review their diagnosis, review the therapeutic plan, render judgement, and potentially redirect that individual to the right source for medical treatment. Grand Rounds doesn’t need to send patients out of network because most experts are under contract.

Grand Rounds “Expert Opinion” service starts with a patient with a medical issue. Grand Rounds then assigns an expert and sends the records to the expert for review. On the average, 67 percent of the time, the expert will say that the current therapy, surgery, etc. is not the right approach and usually 40 percent of these cases result in a surgical cancellation or the therapy is replaced.

Ground Rounds goes even a step further in that the company will help the patient find a local high quality physician that can deliver the recommended treatment. The company believes that presuming that consumers know what care they need only works for a small percentage of the population. Instead of allowing consumers to select a solution, Grand Rounds asks questions and then offers a solution to the patient.

Owen Tripp also mentioned that artificial intelligence can be used in a chat triage setting to determine what resources a patient needs. At this point, the company can direct the patient to the proper physician.

For more details on the meeting notes or to provide feedback on the meeting notes, contact Jailendra Singh Director, Equity Research Managed Care and Healthcare Facilities at Credit Suisse at + 212 325 8121 or cell +1 585 260 0962, or by email at jailendra.singh@credit-suisse.com.

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