MedSolutions and Jumpstart Foundry Announce Innovation Challenge

NASHVILLE, Tenn.--(BUSINESS WIRE)--MedSolutions (http://www.medsolutions.com/) and Jumpstart Foundry (http://jumpstartfoundry.com/) announced today their Innovation Challenge partnership, which seeks new ideas from entrepreneurs to help consumers improve their healthcare decision-making. Interested applicants may offer solutions to this challenge in any number of ways, and one winning idea will be selected. Entries must be received by April 12, 2013 through Jumpstart Foundry’s website: http://bit.ly/medsoljsf.

“When you combine MedSolutions’ leadership in medical cost management and Jumpstart Foundry's program to quickly accelerate innovation, all housed in Nashville's booming healthcare community, the opportunity for entrepreneurs who participate in the Innovation Challenge just doesn't get much better”

MedSolutions is the leading medical cost management company, saving money for health plans and people by improving patient care. This is achieved through management programs for diagnostic imaging and other services like spine surgery and sleep management, as well as the innovative Premerus® program, which ensures that patients receive expert diagnoses.

“When you combine MedSolutions’ leadership in medical cost management and Jumpstart Foundry's program to quickly accelerate innovation, all housed in Nashville's booming healthcare community, the opportunity for entrepreneurs who participate in the Innovation Challenge just doesn't get much better,” said David Ledgerwood, chief operating officer of Jumpstart Foundry.

Through this program, MedSolutions will partner with selected entrepreneurs to develop and introduce new products and services that help consumers make better decisions around their utilization of the healthcare system. These innovations will allow patients to capture maximum savings and improve the overall quality of care they receive.

"Our company places a high value on entrepreneurship, and we’re always looking for new, problem-solving innovations, so this is a natural partnership for us,” said Gino Tenace, chief strategy officer for MedSolutions.

These new products will hit the market in 2014 as 20 million to 65 million Americans begin purchasing health insurance through state health insurance exchanges. Springing from the Affordable Care Act (ACA) of 2010, state health insurance exchanges will allow individuals and small businesses to review and purchase health insurance through a virtual marketplace.

Additionally, the ACA opened the door for the creation of Accountable Care Organizations (ACOs) designed to align patient, provider and payer incentives to drive better care for patients, while reducing the underlying cost of care delivery. As a result, physicians will now have a financial incentive to use the same suite of tools to help their patients more effectively utilize healthcare services.

Do you have an innovative idea to help consumers improve their healthcare decisions?

If so, turn your concept into a reality by partnering with MedSolutions and Jumpstart Foundry to take on this exciting opportunity.

Give your startup a leg up.

The winner secures participation in the Jumpstart Foundry summer business accelerator program, which includes:

In-person mentoring from one of the world’s premier networks of healthcare and technology entrepreneurs.
Office space at the state-of-the-art Nashville Entrepreneur Center.
$15,000 cash to launch your business.
Access to $150,000 of startup services through Jumpstart Foundry and the Global Accelerator Network and over $300,000 in additional perks to all founders.
Opportunity to pitch to over 400 potential investors at Investor Day 2013.

The winner will also be able to leverage the expertise of MedSolutions, the leader in patient-centric medical cost management.

Please submit all entries by April 12, 2013 to http://bit.ly/medsoljsf.