Correlate Health's original offering opened on April 1, 2021 and was completed on February 14, 2022. Except for the Updates section which may contain more recent information, the information on this page was accurate as of February 14, 2022.
4(a)(6) offering provided by Netcapital Funding Portal Inc.
Introduction
Correlate® Health is a digital health company that focuses on the development, acquisitions and investments of healthcare meaningful use applications, web services, and data transformation tools that enable new care models. This includes virtual care, remote care delivery, and care pathways that engage patients and consumers to manage their personal health and wellness using digital tools and technologies.
Success To Date
Established Strategic Partnerships that will give the company immediate access to over 10,000 Healthcare Organizations with over 280,000,000 Patients
Raised nearly $100,000 from Angel Investors
Filed Trademarks for Correlate Health, LooPT, Correlate, and Digital Health TV
Provisional Patent for LooPT Medical Device Management Solution
Provisional Patent for The Process of creating Non-Fungible Tokens (NFT) Patient Data using Remote Patient Monitoring with Cloud Applications, Devices, Wearables, EHRs and Digital Health Marketplaces
The Process of Attaching Patient Data, Superbill and Itemized Bill to Create Non-Fungible Tokens (NFT) To Expedite the Claims Adjudication Process
Member of “Patientory Association” a Global Nonprofit Healthcare Member Organization, that facilitates the adoption of emerging technologies in the healthcare industry
Press mentions in Forbes and others
Problem
Some of the biggest pain points in healthcare include interoperability, accessibility and security. Digital Health tools are crucial to accessing patient data for proactive care delivery and better outcomes.
Nearly one-third of hospitals and health systems report that their interoperability efforts are insufficient according to a survey from the Center for Connected Medicine (CCM). Electronic Health Records (EHRs) and other Health IT (HIT) systems must be able to communicate with each other to support accurate, efficient, and meaningful exchange of clinical data.
An all-inclusive platform that allows physicians to help care teams and engage patients more effectively is needed to facilitate the following:
Interoperability - A digital health method to improve the connection between patients and clinicians. Thus allowing different information systems, devices and applications to access, exchange, integrate and cooperatively use data in a coordinated manner to provide timely and seamless portability of information and optimize the health of individuals and populations globally.
Meet Meaningful Use Objectives - Meaningful Use is defined by the use of certified EHR technology in a meaningful manner ensuring that the EHR technology connects in a manner that provides for the electronic exchange of health information to improve the quality of care.
Combat COVID-19 - The COVID-19 Pandemic has contributed to a growing stress on the current healthcare system. The reduction of outpatient services to mitigate transmission threatens continuity of care for acute and chronic patients, calling for rapid adoption of virtual care models.
Solution
Correlate® is a Digital Health Marketplace. A secure platform where both patients and health care teams can benefit. Correlate provides a complete digital health management marketplace with a wide array of tools and services to serve healthcare organizations, patients, and care teams all within one platform.
Covid-19 has increased the awareness and acceleration of digital health technologies, telemedicine, and other virtual care models such as remote patient monitoring (RPM). RPM models involve collecting real-time patient data while patients are not located in the healthcare facility to adjust care plans for patients based on real-time feedback and to empower patients with the ability to track and participate in their own health progress.
Correlate® Health platform is enhanced with blockchain security, interoperability, and improves critical data sharing between key stakeholders. It also:
enables physicians and care teams to easily assign meaningful use applications to the individual patient’s portal. Patients are now using applications and digital services that fit their individual care plan.
allows providers to track their patient’s engagement so that they can keep up with the patient's progress, drive interventions and outcomes accordingly, all within one dashboard.
additional features and services include, a CPT Code widget for Remote Patient Monitoring, enabling automations for provider reimbursement, other decision-making tools, many patient-facing apps, medical device management solution, along with media assets for patient education and much more.
We also partner with vendor Digital Health providers with a subscription service which allows patients and providers to utilize a wide variety of apps and solutions on Correlate’s platform according to the patient’s care management.
LooPT is Correlate Health’s first proprietary SaaS, a Medical Device Management DApp. A MicroService of many digital health tools offered in the Correlate Marketplace. Providers will now be able to assign LooPT to Patients with Medical Devices as a part of their individual care management plan.
Meaningful Use Cases
Use Case 1
A caregiver did not know the type shunt or settings for a child with hydrocephalus (water on the brain).The physician had to resort to x-rays and a CT scan, which are very harmful to children. One CT scan in 10,000 children can cause an incurable, deadly cancer.
Use Case 2
A woman who suffered a spinal cord injury needed an MRI. She had a brain aneurysm clipped a few years earlier, and even though her physician recognized the clip as MRI compatible, the radiologist, as per the guidelines of the radiological association, did not want to take the risk of the clip moving or heating up. Urgent treatment was delayed three days because the hospital required records from another healthcare facility to prove the type of clip used.
Use Case 3
A patient who had been in an accident a few years earlier and had part of his skull replaced with a (titanium) mash. Again, no records were available, and it required the physician sending his X-ray to the manufacturer of the implant who then confirmed the type of implant.
Business Model
The Company operates based on a Fee-for-Service, Transaction, Freemium, Subscription, Licensing, integration Platform as a Service (iPaaS), Blockchain as a Service (BaaS) and Software as a Service (SaaS) revenue model.
One of Correlate’s competitive advantages is a proprietary micro service that aligns with automations and health data asset creation.
The 21st Century Cures Act requires patients to have access to their electronic medical records health data free of charge. On Correlate’s platform:
Patients can then monetize their health data, create Blockchain-enabled protocol NFTs (Non-Fungal Tokens) to earn royalties and participate in DeFi protocols.
Providers the Health Data NFTs widget can help expedite and provide a faster resolution to rejected or denied claims.
Market
Correlate® Health is well-positioned in four distinct global markets, including:
Digital Health
Blockchain Technology in Healthcare
Healthcare Cloud Computing
Big Data Analytics in Healthcare
The Global Digital Health Market value is expected to surpass USD 504.4 billion by 2025, according to a new research report by Global Market Insights, Inc. Demand for remote monitoring services due to rising incidences in chronic diseases worldwide is a major factor propelling the global market.
Government initiatives and funding in other countries is favorable for the adoption of digitalized systems and is set to fuel the digital health industry. Health Information Technology for Economic and Clinical Health (HITECH) Act, implemented in the U.S, promotes the meaningful use of health information technology providing $20 billion to hospitals and doctors to support their installation of EHRs. The market is expected to expand business in the coming years.
EHR business is estimated to reach USD 139.4 billion by 2025. The ability of these systems to exchange health information electronically to provide improved patient care are major factors contributing towards business growth. These systems enable providers to more effectively diagnose patients, reduce medical errors, and provide safer care to patients with better communication will further escalate segmental growth over the coming years.
The Global Blockchain Technology in Healthcare Market is set to surpass USD 1,636.7 million by 2025, according to a new research study published by Global Market Insights, Inc. The adoption of blockchain technology could save the healthcare industry as much as $100-$150 billion per year by 2025 in data breach-related costs, IT costs, operations costs, support function costs, personnel costs and costs associated with fraudulent and counterfeit products.
Blockchain is a recognized technology that is helping healthcare facilities save huge amounts of money from frauds, counterfeit drugs and hence, positively impact the outcomes of healthcare. Healthcare data breaches cost around USD 380 per patient record, resulting in high annual losses. Hence, implementation of blockchain technology in healthcare will help save billions of dollars.
Healthcare Cloud Computing Market size is set to exceed 55 billion by 2025, according to a new research report by Global Market Insights
[1]. Rising adoption of information technology (IT) in the healthcare sector is the key factor driving healthcare cloud computing market growth during the forecast period. Usage of cloud computing techniques provides IT facilities to retrieve assets from the internet by using web-based tools and applications.
Big Data Analytics Market was valued at approximately USD 19.72 billion in 2017 according to Zion Market Research and is expected to generate revenue of around USD 68.03 billion by 2024, growing at a compound annual growth rate (CAGR) of around 19.34% between 2018 and 2024. As Digital interactions between patients and health systems lead to a high amount of available data.
Nailah Malak, Ph.D, Co-Founder, Chief Executive Officer and Chief Technology Officer, is a Certified Interoperability Professional, recognized as a leading Healthcare Engineer and Project Manager in the industry. Nailah has successfully fulfilled consulting engagements for notable healthcare organizations such as Stanford Hospital and Clinic, UC Davis, Mayo Clinic, Catholic Health Initiatives, Siemens and Medtronic. Approximately 16 years of her experience has been working with Electronic Medical Records Conversions and Implementations with a total of 12 Go-Lives. Nailah has authored guides and trained technical end users for company wide software programs and the implementation of HIPAA compliance regulations, Meaningful Use regulations, and HIS security deployment. She holds a Doctorate Degree in Interoperability Engineering with 20 years’ experience as a Digital Health Analyst, Engineer, Developer and Project Manager.
Charon Collier
Co-Founder, President, COO, Correlate Health
Charon C. Collier, Co-Founder, President, Chief Operational Officer, is a Health Information Management (HIM) Professional. She has worked for some of the most notable healthcare systems in the country, including Sutter Health of Northern California where she had the opportunity to travel and work for several locations throughout the state of California. During her time with Sutter Health she worked in several roles, most prominently as a supervisor providing support to the Health Information Management (HIM) teams during their transition to Electronic Health Record (EHR). She also has worked for the University of California, Davis (UCD) Healthcare System in the Kidney Transplant Clinic, where she was a valuable team member and contributed to the growth and success of the Reno Transplant Program at UCD. Charon has over 20 years’ experience in healthcare, administration, health information management and revenue cycle management.
Anthony T. Farrar
Co-Founder, CFO, CLU, ChFC, Correlate Health
Anthony T. Farrar, CFO, CLU, ChFC, Chief Financial Officer is the Founder and CEO of Farrar Financial Group an insurance and financial services company. He brings a wealth of knowledge and experience along with empowering comprehensive business strategies. Tony held the role as senior auditor for Price Waterhouse in which he performed services for major clients such as Anheuser Bush, Ralston Purina and Farm Credit Banks. He has been instrumental in growing sales in excess of $3 million and successful in growing his company to well over 5,000 clients all within a highly competitive market. Tony has over 23 years’ experience in financial planning, investment strategies, strategic planning and client relations. Tony graduated from Hampton University with a Bachelor of Science degree in Accounting.
Carla S. Johnson, MBA, PMP®
Chief Strategy Officer, Correlate Health
Carla S. Johnson, MBA, PMP®, Chief Strategy Officer is a Humanitarian Supply Chain Management Professional with a proven track record of fighting global poverty by improving the efficiency and effectiveness of the supply chain. Carla is a proven leader and team builder with 20 years of experience in Supply Chain Management, Logistics, Warehousing & Distribution, Inventory Management, Material Requirements Planning, Import/Export Compliance, Lean Enterprise Implementation, Project Management, Process Reengineering, Continuous Improvement, Six Sigma, Proposal Development, Project Management, Gifts in Kind (GIK) Management, and Donor Compliance. Carla is a graduate of the Georgia Institute of Technology with a Bachelor of Science degree in Industrial & Systems Engineering, and she received a Master of Business Administration degree from Emory University’s Goizueta Business School. She currently lives in Atlanta, GA.
Jennifer Ponder
Digital Health Technical Lead, Correlate Health
Jennifer Ponder, Digital Health Technical Lead is a certified Full Stack Web Developer where she has worked on freelance projects specializing in front-end development in React. She has worked for a practice management SaaS company in technical product support as a research analyst, where she was responsible for troubleshooting technical issues and researching product feature requests to help clients scale their businesses. She is also currently becoming more involved in the tech space as an advocate for women, speaking at conferences and continuing to be a moderator for panels. Most recently she was the moderator for the Women of Blockchain Atlanta celebration event panel. She is also an experienced client relations and client account management professional with digital marketing management and social media brand strategy experience. She holds a Bachelor’s Degree in Mass Communications with a concentration in Public Relations, an Associate of Science degree in Health Information Management and is certified in medical billing and insurance coding.
Testimonials
“As a Neurosurgeon, I have been wishing for this technology to be operative years ago! All I need to do is give three (out of six or seven) examples from the past three months where LooPT would have saved a lot of money and time, and above all would have enhanced patient safety.”
J. Paul Muizelaar, MD, PhD
Professor of Neurosurgery, Marshall University, Huntington, WV Former Emeritus Julian R Youmans endowed Professor and Chair, Dept. of Neurosurgery University of California Davis
Advisors and Investors
Miles David Johnson, MD
Medical Director | Changing Phases Behavioral Support & Methadone Treatment Center Chief of Adult Medicine | Healing Community Centers
Kecia J. Waddell, Ph.D.
Founding Officer and Member | Black Blockchain Consultants Executive Director | The Center for Blockchain Studies Chief Training Officer | Blockchain Consortium International & 10K Project, Inc.
Talisha M. Shine, MBA, CBE, GBA Certified Consultant
Former VP of Blockchain Consortium International
Kenneth A. Goodwin Jr., MBA, TEDxSpeaker
Senior Managing Principal and President Jeanensis Capital Markets
Tonyka McKinney, DrPH, MPH
Doctor of Public Health Senior Advancement Officer | CDC Foundation
Scott McKee, MBA
Founder and Managing Member of Sidecar Group
Osama Elhassan, B.Sc., M.Sc., D.I.C., Ph.D.
Health Informatics Specialist & Smart Health Department, Dubai Health Authority & Board Member at ISfTeH | Dubai Health Authority
If the offering's maximum amount of $250,000 is raised:
Use
Value
% of Proceeds
Payroll
$60,000
24.0%
Accounting
$5,400
2.2%
Legal -Admin
$37,800
15.1%
Tech -Product Development
$100,000
40.0%
Business Development
$4,300
1.7%
Marketing & Sales
$30,250
12.1%
Intermediary fees
$12,250
4.9%
Terms
This number includes all funds raised by the Company in this round on Netcapital. This is an offering of Class A Common Stock, under registration exemption 4(a)(6), in Correlate Health, Inc.. This offering must reach its target of at least $10,000 by its offering deadline of February 14, 2022 at 10:59pm ET. If this offering does not reach its target by the offering deadline, then your money will be refunded.
If the offering is successful at raising the maximum amount, then the company’s implied valuation after the offering (sometimes called its post-money valuation) will be:
The Offering Statement is a formal description of the company and this transaction. It’s filed with the SEC to comply with the requirements of exemption 4(a)(6) of the Securities Act of 1933.
Be sure to understand the risks of this type of investment. No regulatory body (not the SEC, not any state regulator) has passed upon the merits of or given its approval to the securities, the terms of the offering, or the accuracy or completeness of any offering materials or information posted herein. That’s typical for Regulation CF offerings like this one.
Neither Netcapital nor any of its directors, officers, employees, representatives, affiliates, or agents shall have any liability whatsoever arising from any error or incompleteness of fact or opinion in, or lack of care in the preparation or publication of, the materials and communication herein or the terms or valuation of any securities offering.
The information contained herein includes forward-looking statements. These statements relate to future events or to future financial performance, and involve known and unknown risks, uncertainties, and other factors, that may cause actual results to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties, and other factors, which are, in some cases, beyond the company’s control and which could, and likely will, materially affect actual results, levels of activity, performance, or achievements. Any forward-looking statement reflects the current views with respect to future events and is subject to these and other risks, uncertainties, and assumptions relating to operations, results of operations, growth strategy, and liquidity. No obligation exists to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
We are thrilled to announce our partnership with KiwiTech! Founded in 2009, KiwiTech has emerged as a global innovation ecosystem and innovation partner of choice for startups, enterprises, and government authorities. Their ecosystem, home to 600+ portfolio startups, provides 360° support to entrepreneurs to accelerate their success. We are excited about the collaboration and look forward to an amazing journey together! As strategic partners, KiwiTech will support us in our continued fundraising and tech development. Stay tuned for more updates! We appreciate your patience and continued support!
Greetings Everyone! We are proud to announce that we have successfully completed the Zane Access Capital Readiness Accelerator! Our team attended Zane Access Cohort 7 in Atlanta on March 4-7th, 2024. This program has affirmed our confidence and readiness to take the next steps in our journey. Stay tuned for more updates on our next funding round and developments.
Greetings everyone! Thank you for your continued support to Correlate Health. We appreciate your belief in our vision. In the dynamic healthcare landscape, we are committed to staying ahead of industry changes and regulations. The recent Food and Drug Omnibus Reform Act of 2022 (FDORA) is a significant turning point, introducing vital reforms that promote diversity in clinical studies and enhance patient education. Our flagship solution, LooPT CTM (Clinical Trial Matching), a clinical trial management solution that perfectly aligns with these reforms, showcasing our steadfast commitment to diversity and inclusion in clinical trials. Once again, thank you for being an integral part of our journey.
Thank you for your continued support. We are thrilled to share an exciting recent milestone with you. We are proud to announce the development of two AI Solutions: LooPT AI Patient Education Chatbot and LooPT AI Coder Analyzer.
Our dedicated team has poured immense effort and expertise into the development of these solutions with advanced AI technologies that drive growth, improve patient outcomes, and elevate the overall quality of care. These innovations can play a significant role in transforming patient care and provider workflows.
As we move forward, we invite you to share our solutions with healthcare professionals within your network to learn more about how Correlate Health’s LooPT AI solutions can transform their practices. The feedback and insights we gather during this crucial phase will be invaluable in shaping our offerings to better serve the needs of healthcare providers and their patients.
We are pleased to announce a new partnership between Correlate Health and PRIMO Health Partners.
Correlate Health and PRIMO Health Partners plan on working closely in partnership come New Year, January 2022 to enhance and enrich our businesses services, while empowering patients with the tools they need to take an active role in their health.
Join Us, “HANGING WITH DR. COOPER”
Sunday, November 21, 2021 @ 11am EDT
@drcoopmd on all social media to tune in!
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This number includes all funds raised by the Company in this round on Netcapital. This is an offering of Class A Common Stock, under registration exemption 4(a)(6), in Correlate Health, Inc.. This offering must reach its target of at least $10,000 by its offering deadline of February 14, 2022 at 10:59pm ET. If this offering does not reach its target by the offering deadline, then your money will be refunded.
