In 2006, as college students, ContextMedia co-founders Rishi Shah and Shradha Agarwal borrowed Rishi’s mom’s car, filled the trunk with video equipment, and drove to doctors’ offices as they bootstrapped the company off the ground. ContextMedia has come a long way since then, and established itself as the fastest growing company in the industry.
In a recent feature in Crain’s, Rishi speaks to John Pletz about ContextMedia’s humble beginnings, rapid growth, and the exciting road ahead. Click here to read the full feature.
When ContextMedia was founded, the term “point of care” was not yet a buzzword within healthcare – it was used to describe the doctor’s office, hospital or pharmacy. Nearly ten years later, companies like ContextMedia are using technology to transform the reach and impact of point of care, which has grown to encompass any patient interaction during treatment. In a recent article published in Medical Marketing & Media, “Point of Care: Point of Where?” Rebecca Knutsen speaks with ContextMedia EVP of Business Growth, Ashik Desai, about the past, present, and future of point of care. Click here to read more.
ContextMedia recently launched its sales recruitment site, and it’s never been easier to apply. To learn more about what it’s like to work on ContextMedia’s sales team, visit us here.
Originally Published in The Association for Dermatology Practice Management’s Executive Decisions in Dermatology, July/August 2015
By Brok Vandersteen, Healthcare Sales Manager at ContextMedia
We’ve all been there. With unexpected free time, you watch a daytime TV show that you hadn’t watched since you were home sick in grade school. You fidget in the chair, and pull your phone out to check the time. It’s been 15 minutes since you arrived at the doctor’s office, and you’re still in the waiting room. As a matter of fact, average wait across the waiting room and exam room is climbing upwards of 30 minutes. But what if this wait time was repurposed to educate your patients about dermatology?
As Pamela explained in last month’s newsletter, educating patients about skin protection is at the forefront of responsibilities for dermatologists. Still, according to the Journal of the American Academy of Dermatology, most Americans are still not using sunscreen, despite the conversations they are having with their physicians. How can we help close that gap between conversation and adherence? The answer may be point of care education.
Imagine a TV network that delivers programming about the immediate benefits of sunscreen, or a tablet where the patient had access to programming about the impact of UV rays at their fingertips. Instead of flipping through a magazine or watching a game show, patients now have access to a growing number of innovative digital patient education tools in the waiting and exam rooms. For patients, a trip to the doctor is when their health is top of mind; it is when they have a dialogue about their condition and make choices about treatment. Point of care digital education gives patients contextual information during the moments right before patients meet with their physician to help them make more informed decisions about their health.
For healthcare providers, the impact of these innovations has been immediate and impressive. An independent study commissioned by ContextMedia found that over half of patients discussed educational content that they had seen in the waiting room. In La Quinta, California, Bhagwan Moorjani uses ContextMedia’s Waiting Room TVs and Exam Room Tablets to educate his patients. “They felt they had a better understanding,” he said, finding that patients were prepared with better questions after interacting with the content in the waiting room. Impressively, these tools are available at no cost to physicians.
ContextMedia uses this technology to to quantify the impact of the education on patient-physician interactions, and has gathered remarkable user engagement data. Based off data collected from the Exam Room Tablets, 80.7% of all member office patients interact with the tablets and patients are spending an average of 9.2 minutes engaging with the tablet per session. To increase the impact of the education, dermatology administrators can monitor exactly what types of content patients are engaging with, and work with ContextMedia to tailor the media based on those results.
So far the proof is in the numbers. According to data collected by Nielsen, 90% of patients who interacted with ContextMedia’s products have found them to be helpful. Over time, increased innovation at point-of-care will lead to better quality of education for patients, and ultimately, improved health outcomes. For now, the future looks bright. ContextMedia is currently building products that integrate with the recent improvements in Electronic Health Records in order to give patients a fully personalized, curated experience from before they enter the office until long after they leave. Patients will no longer leave with paper appointment summaries or have to worry about gaps in care, as they will have digital tools to help them manage their health around visits to the physician. For dermatology administrators and other healthcare providers, we are building resources that will incorporate Electronic Health Records into their interactions with patients so that they can provide the highest quality of care possible.
In addition to the immediate impact on patient engagement, these point of care tools can be tailored by dermatology administrators to address your practice’s needs. As you know, dermatology offices can vary in design – with some resembling the traditional waiting room, and others resembling the spa at a 4 star resort – but dermatology administrators can tailor the content to represent your office’s brand. Do you have an incredible skincare product that your patients need to use, or have summer UV tips specific to your geographic location? Do you want to display the effects of proper skin care by showing off beautiful headshots of your doctors? Whatever your goals, point of care media can be customized to develop an emotional connection between your office and its patients to develop loyalty.
Dermatology administrators know all too well that derm conditions are often preventable if proper care is taken. While gaps these in patient adherence can be frustrating, we can take enormous strides in the right direction as long as we remain committed to finding better ways to educate and engage our patients before we meet with them. As digital point of care education grows in popularity within dermatology, we are honored to take lead in finding innovative solutions to help your patients live healthier.
In Pharma Marketing, tech innovation is frequently avoided because of the high risk and pushback that come from heavy regulation. Ashik Desai, EVP of Business Growth and Analytics of ContextMedia recently published an article, “The Pharma Marketers’ Innovator’s Dilemma” in DTC Perspectives. In his article, Ashik explains the need to strive for innovation in pharmaceutical marketing despite these difficulties, and describes a system of evaluation he employs to decide which innovations to pursue. Click here to read the full article.
Outside of ContextMedia, Rishi Shah and Shradha Agarwal are also investors. In 2012, the pair founded Jumpstart Ventures, a private angel fund that is invested in over 30 ambitious early-stage companies solving real world problems. In 2014, J.B. Pritzker hosted the first Chicago Venture Summit, where he aimed to make Chicago attractive to investors looking for opportunities beyond Silicon Valley. As both an entrepreneur and an investor, Shradha Agarwal was recently featured in a Blue Sky Innovation article detailing the return of Chicago Venture Summit in 2015. Shradha is mentioned alongside other attendees from the 2014 Summit, including Padmasree Warrior, Peter Thiel and Travis Kalanick. Full article here.
Mayor Rahm Emanuel and ContextMedia CEO Rishi Shah announced today that the company plans to hire for an additional 200 jobs in Chicago this year including positions across all functional areas and skill levels. ContextMedia also expects to add 400 additional jobs in Chicago next year as it continues to expand. The company, which moved into its current 33,000 square foot headquarters at 330 North Wabash Avenue in April, has already outgrown its space and will be looking to expand in 2015. “ContextMedia is a great example of the tech economy we have in Chicago today and the even stronger tech economy we are building for tomorrow,” Mayor Emanuel said.
ContextMedia was founded in 2006, and went from being a dorm room idea to the fastest growing digital health information company at point of care. ContextMedia believes in giving back to the Chicago entrepreneurial ecosystem that has supported them along the way, and as a token of their support, ContextMedia sponsored Chicago Startup Weekend this year. Chicago Startup Weekend helps provide an event where creators can connect, combine and renew each other’s resources and capabilities to create value through new forms of interaction, service and learning mechanisms. To learn more about Chicago Startup Weekend click here.