HealthTech startup PROMinsight is revolutionising patient-reported outcome measures (PROMs) with its end-to-end platform that offers precise and comprehensive measurements of the impact of eye disease, vision impairment and related treatments from the patient’s perspective.
The idea for PROMinsight was born when Co-founders, Dr Eva Fenwick and Prof Ecosse Lamoureux who have been measuring patient-reported outcomes in research studies and trials for over 15 years in Australia and Singapore recognized the limitations of traditional “paper-pencil” surveys in clinical trials and clinical care. To address this challenge, they developed computerised adaptive tests (CATs), a sophisticated approach to measuring health-related quality of life assessment. CAT was already being used in educational testing and the team saw multiple benefits in using this method in health outcomes. The company built their first item banks and CAT to measure quality of life in patients with diabetic eye disease and eventually developed GlauCAT for glaucoma and IVI-CAT for vision impairment, with MacCAT for age-related macular degeneration, MyoRI-CAT for myopia, and DiabCAT for type-2 diabetes in the pipeline, all hosted on a bespoke cloud-based platform.
The CAT algorithm successfully reduces the time taken to collect patient-reported outcome data by up to 70%, which is a major breakthrough in the field. Researchers, clinicians, and patients find the CAT tests easy to use and appreciate the impact of the PROMinsight’s work.
“Seeing the CAT algorithm work to successfully reduce a questionnaire from 20-30 items to just a quick 7-8 is very satisfying, and it’s also gratifying to hear researchers, clinicians and patients enjoy using the CAT tests and believe in our work”, Dr Eva Fenwick, Cofounder PROMinsight.
Although integrating the cloud-based CAT system into hospital electronic medical records (EMR) posed significant challenges, such as overcoming data security barriers and addressing the limitations of EMR systems around data analytics and visualization, the team successfully navigated these obstacles with the help of their exceptional IT and software support teams.
PROMinsight’s success story offers valuable lessons for other startups in the HealthTech industry.
“Firstly, it is crucial to get user feedback and iteratively update and improve the product. Secondly, it is important to think big-picture from the start and surround yourself with a great supporting team, including software, marketing, and clinical teams, who believe in your solution and aren’t afraid to provide honest feedback.”
Experience with the MedTech Actuator
PROMinsight joined the MedTech Actuator Ascend 2023 program, the new flagship program in Singapore to understand a robust Go to market strategy and connect with like-minded organisations with whom they could find synergy in their product offerings.
The team accomplished significant milestones including obtaining valuable knowledge and experience in the preparation process for engaging with venture capitalists and angel investors. They gained insight into the critical documents and information required to capture the attention of potential investors, which has been instrumental in their progress.
“MedTech Actuator has been extremely helpful in connecting us with relevant people and organisations who can assist in pointing us in the right path as well introducing us to potential partners and playmakers within the industry. We have been able to increase awareness of our product as well as find our limitations and strengths to position ourselves more accurately.”
The 6-month Ascend program is designed for scaling ventures in MedTech, BioTech, and HealthTech looking to gain insights, access opportunities, and overcome hurdles within the Singapore ecosystem. Singapore is a strategic launch pad for many startups exploring the broader Asia-Pacific region, and looking to gain, or strengthen market position across the many regional healthcare ecosystems.
PROMinsight recommends MedTech Actuator programs to other startups, as understanding the ins and outs of business in Singapore can be tricky especially in the medical industry with the various restrictions and compliances set forth by the government. Through the Ascend program, MedTech Actuator introduced industry leaders to guide PROMinsight in this process and made sure the startup was connected well and prepared for the challenges of introducing and selling their product in Singapore.
Join us for Demo Day in Singapore
Don’t miss out on the opportunity to witness the innovative ideas and solutions of our Ascend startups at our upcoming Demo Day! The event will showcase startups from our Global Navigator program and will be held on 22 June 2023, from 3 pm to 7 pm at the Centre for Healthcare Innovation (CHI) in Singapore. Stay tuned for more information, which will be announced soon.
If you have any enquiries, please reach out to Cayden Pang, our Enterprise Manager, at firstname.lastname@example.org