The healthcare industry is currently experiencing seismic shifts with much of the focus being placed on COVID-19 clinical, operational, and financial efforts. However, even in the setting of the pandemic, the healthcare industry is still faced with addressing a growing aging population, a widening workforce gap, and a proliferating volume of healthcare data.
To address these challenges, Amazon is launching the AWS Healthcare Accelerator program which will support both high-potential healthcare startups and the healthcare industry’s need for innovative solutions.
What is it all about?
The AWS Healthcare Accelerator is a four-week technical, business, and mentorship accelerator opportunity open to U.S.-based healthcare startups or international healthcare startups that have existing U.S. operations.
A cohort of 10 healthcare startup companies with an established product-market fit with existing customers and revenue, who seek to use AWS to help solve the biggest challenges in the healthcare industry, will be selected to participate in this new program. The program is tailored to accelerate growth in the cloud, with a focus on solutions like remote patient monitoring, voice technology, analytics, patient engagement, and virtual care. Applications are already open and proposals are due by July 23, 2021.
AWS will deliver the first cohort of the AWS Healthcare Accelerator in collaboration with KidsX, the world’s largest digital health accelerator dedicated exclusively to pediatrics. KidsX is a global ecosystem of innovators, anchored by a consortium of over 50 children’s hospitals from North America, Europe, and Australia, focused on early-stage digital health companies to transform pediatric care. The AWS Healthcare Accelerator will be open to healthcare startups targeting any patient population, with KidsX bringing their strong network of healthcare organizations and experience in delivering accelerator programs.
The goal of the AWS Healthcare Accelerator is to cultivate and promote innovative startup solutions that achieve the Quadruple Aim of improved patient experience, improved clinician experience, better health outcomes, and lower cost of care. In seeking out compliant data-driven healthcare solutions, AWS will support public sector healthcare enterprises to accelerate their digital transformation.
Judging the applications
Applications will be judged on several factors, including: the innovative and unique nature of the project, the overall value the solution will bring to the healthcare industry, the creative application of AWS to solve problems, and the team’s ability to deliver on an identified opportunity.
AWS and KidsX will select 10 startups to participate in the four-week accelerator that will take place virtually. Selected startups will receive AWS Promotional Credit, potential proof of concept opportunities with public sector healthcare customers, specialized AWS training, mentoring from healthcare domain and technical subject matter experts, business development and go-to-market guidance, and investment guidance. The program will bring in healthcare industry leaders to collaborate with startups on topics ranging from defining business models, regulatory pathways, clinical validation, Electronic Health Record integration, and more. There will also be collaboration opportunities with AWS customers and members of the AWS Partner Network looking for innovative healthcare solutions.
In the first 10 weeks of the COVID-19 pandemic, the Center for Disease Control (CDC) reported an overall 42 percent reduction in emergency department visits in hospitals. This trend was also seen in other areas within health systems and we continue to see lower utilization rates and engagement of healthcare services; both of which have significant downstream impact on both the health and financial outcomes for patient and provider alike. This places healthcare startups in the unique position of being able to quickly provide turnkey solutions that can use data and analytics to identify high-risk patients, create a platform to remotely engage and deliver care for patients, or even pivot from their existing functionality to meet the needs of public sector healthcare.