Enhancing Patient Care Through Data-Driven Insights

Shawn Mondoux, a medical doctor with a background in emergency medicine, transitioned from healthcare to entrepreneurship after questioning the effectiveness of healthcare metrics in measuring patient outcomes. Recognizing a significant gap in using data to assess the impact of healthcare providers, he founded Prognostiq in 2021. His aim is to harness electronic health record (EHR) data to offer clinicians insights into their performance, streamline workflows, and enhance health system profitability.

Mondoux articulated that industries such as finance and retail effectively utilize data to track performance and customer satisfaction, yet healthcare lags in employing a similar data-driven approach. This realization propelled him to create a system that aggregates existing healthcare data to help clinicians better understand the consequences of their care on patient populations. Since its inception, Prognostiq has analyzed more than a million patient encounters and has shared actionable data with over 100 physicians to identify trends and optimize patient care.

One of the potential applications of the insights gleaned from data analysis is in reducing emergency department wait times and predicting staffing requirements before issues escalate. By understanding specific practice patterns over time, healthcare providers can identify early signs of wellness challenges within their departments and implement measures to address these concerns effectively.

With over 13 years in emergency medicine, Mondoux is affiliated with St. Joseph's Healthcare Hamilton, McMaster University, and the University of Toronto. He advocates for a shift towards value-based care—where the focus is on maximizing positive patient outcomes and ensuring that health systems derive the most benefit from financial expenditures. However, he also highlights a critical hurdle for medtech startups in Canada, particularly concerning the acquisition of investment throughout various stages of development. The sector typically necessitates significant upfront funding for research and clinical trials, making it difficult for early-stage startups to thrive.

Moreover, Mondoux emphasizes the importance of understanding the intricacies of healthcare organizations when seeking partnerships. Recognizing the key decision-makers who can foster relationships and navigating the pressures of healthcare systems are vital for success within this space.

An emerging opportunity in healthcare innovation exists in the Waterloo Region, where a new hospital, part of a collaboration between Grand River Hospital and St. Mary’s General Hospital, is slated to be built by 2034-2035. This facility will accommodate around 1,200 beds and aim to modernize healthcare services in anticipation of a significant population increase in the region. Mondoux notes that the merger of the two innovative hospitals could lead to new opportunities in the healthtech sector.

Prognostiq is among the eight medtech startups selected for the Communitech MedTech Accelerator Program, which launched in September. This program provides founders like Mondoux with growth coaching, networking opportunities, and personalized resources tailored to support scaling their companies. Mondoux expressed appreciation for organizations like Communitech that recognize the challenges in the sector and strive to facilitate the growth of startups dedicated to meaningful healthcare solutions.

In summary, Shawn Mondoux's journey illustrates the potential of data-driven innovation in enhancing healthcare delivery, addressing investment challenges in medtech, and fostering future opportunities, particularly in the context of the new hospital development in Southwestern Ontario.