Greetings from Build It Up!
Here we are with the next article about 5Lion Ventures and the disruptive ideas they invest in.
As part of its mission, the American early-stage investment company selects not only promising business projects to support, but it also strongly values the stories of the people behind them. This was the case with Greg Peters, a passionate health and fitness professional, and Stephen Fealy, a leading orthopedic surgeon at the Hospital for Special Surgery in NY. In 2016 these two talented professionals gave shape to an ambitious project, which was built to revolutionize the US healthcare system: the online platform betterPT.
The overarching premise was that, despite the many advances offered by technology, the US healthcare system was still plagued by inefficient business practices and by a lack of automation. They also noticed a current trend, whereby US doctors are progressively moving from the overuse of injections, surgeries and opioids to the preference for preventive healthcare, in order to avoid the occurrence of pain and its successive treatment. In particular, it was exactly that silo of preventive physical therapy spotted by betterPT to start this innovative business, which could potentially be expanded to other healthcare sectors in the future.
The start-up’s concept consists of an online platform, which allows patients to find the physical therapy clinic most suitable to their needs, to book an appointment and manage the bookings fast and easily. This tool also enables the clinic owners to collect data and efficiently handle the weekly schedule, so as to minimize the manual operations and shorten the internal processes. The platform is accessible from betterPT’s website and from the mobile application designed both for iOS and Android mobile operating systems.
Thanks also to the partnership with the Hospital for Special Surgery, winner of several excellence awards, betterPT is quickly expanding its business and gaining market share in the very fragmented Physical Therapy industry segment, laying the foundation for further development and expansion into other medical sectors (such as Radiology or Renal Care), with the final purpose of making people better.
Stay tuned for other news on 5Lion and all the best from Build It Up!