The Colorado digital health community means a lot to me. Not just because it’s full of amazing people doing inspiring things. And not just because it’s one of the warmest, most welcoming and supportive communities I’ve ever known. Colorado digital health means a lot to me because of what its members are doing to transform the US healthcare system.
Their willingness to work together, to make sacrifices for one another, and to lend a hand when their companions stumble is truly awe-inspiring. And if you need proof that this collaborative spirit is accelerating the transformation of American healthcare, look no further than the Colorado digital health company BurstIQ.
“BurstIQ revolutionizes access to health data by solving its transparency and security problems,” Frank Ricotta, the CEO of BurstIQ, explained to me recently. “Our company’s secure blockchain-based intelligent data grid connects to any data stream with sleek FHIR-compliant APIs and provides the capability to quickly share information and implement digital health innovations.”
(Not sure what blockchain is or why it’s important? Check out this recent article in CIO magazine about the importance of blockchain in healthcare.)
Composed of an exceptional team, BurstIQ is currently working with healthcare systems throughout Colorado to optimize care delivery by harnessing the power of data.
And only a year ago, the company didn’t even exist.
When I first met BurstIQ’s CEO Frank Ricotta, I was working as a volunteer at 10.10.10 Health, a yearly CEO boot camp that pits ten entrepreneurs against ten wicked problems for ten days. The brainchild of Tom Higley, 10.10.10 was meant to inspire experienced CEOs to create market-driven solutions to some of the world’s most wicked problems.
Frank was one of the CEOs chosen to take part in the boot camp. Over the course of ten days, I was amazed to watch him apply his skills and knowledge to cracking the wicked problem of health data. Just as amazing was how the huge team of 10.10.10 volunteers around him helped Frank understand the magnitude of the problem he was facing before advising him on how best to refine his approach to solving it.
Two months after completing last year’s 10.10.10, Frank Ricotta had assembled a team, founded a company, and obtained seed funding. Now, after almost a year in business, BurstIQ is generating revenue and adding new employees. Most importantly, it’s helping healthcare providers use data to improve care for patients across the state of Colorado.
When you ask Frank how he did it, he gives all of the credit to the Colorado digital health community. “I think being a part of communities like 10.10.10 and Prime Health has accelerated BurstIQ between twelve to eighteen months in terms of the company’s development,” he told me recently.
After coming to life at 10.10.10 and growing into a real company through the connections made possible by Prime Health, it was only natural that BurstIQ would become one of the first startups to join Catalyst HTI. In fact, ever since I first introduced Frank to the idea, he has been one of Catalyst HTI’s biggest advocates.
“The culture that’s being built around Catalyst HTI is an amazing collaborative culture,” Frank said. “In the early tech boom, that’s what made Silicon Valley great. Yes, there was fierce competition, but it was the collaborative culture that drove a lot of innovation, and you see that starting to happen around Catalyst HTI.”
What makes Frank such a great example of the Colorado digital health community is his willingness to help others in their efforts to transform the healthcare system. BurstIQ already offers access to its secure platform to our entire community so that we all can scale faster, safer, and easier. Once Catalyst HTI opens its doors, Frank plans to do the same for the other startups in the building to help accelerate the development of their own solutions.
“Catalyst will act as a super accelerator for the companies inside of it,” Frank admitted to me. “It is going to become the epicenter of digital health in this country.”