Q&A with Walter Groteke of MyMedicalHUB
My Medical Hub is a cloud-based (SaaS), predictive technology health/wellness services company which offers a telemedicine-enabled solution to the number one cost driver and issue affecting quality of life in healthcare today – musculoskeletal disorders (MSDs). While the unprecedented outbreak of COVID-19 has resulted in increased demand for telemedicine solutions, it is apparent that telemedicine is here to stay and should experience exponential growth in the coming years. Our primary objective is to disrupt the telemedicine industry with proprietary artificial intelligence (AI) technology directed at solving this major healthcare expense for providers, patients, employees and health systems.
Join is for a Private family office insight webinar featuring Walter Groteke, CEO, a serial entrepreneur who has a background in heuristics and previously built a publicly traded technology company called NetWolves that focuses on information security and currently has revenue of over $80 million dollars and 300 employees. About 15 years ago, Mr. Groteke transitioned into the healthcare space and has a vast knowledge of clinical and digital healthcare space. He has owned and managed many private practice clinics in the MSK space and currently owns a durable medical equipment (DME) company.
Mr. Groteke founded MyMedicalHUB in 2019 and has assembled a world class team to develop a SAAS platform to prevent and mitigate risk factors and injuries within the MSK space for populations and employers all over the world..
March 17, 2022 at 2:15pm-3:15pm EST
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What positive early traction has the company achieved?
MyMedicalHUB has partnered with Microsoft. We are working with senior executives associated with the Microsoft Cloud for Healthcare and plan to leverage their platform, services, and resources in a number of ways. This collaboration encompasses the Microsoft Azure platform, which will provide interoperability to EMRs, providers, and payors, along with a host of other supporting technologies such as (Nuance) speech recognition, Optical Character Recognition (OCR), and others.
• The Microsoft partnership is also part of MMH’s go-to-market strategy. We are working with Microsoft’s top senior level executives to leverage and distribute MMH to their global customer base., including Kaiser, Humana and Best Buy. Discussions are underway to jointly develop a solution for early identification of fall risk using our AI-based, patented Gait, balance and fall risk assessment program. We also will be launching the Microsoft Teams APP
• We have also launched and implemented beta versions of our MMH platform with a chiropractor and interventional pain medicine practice. Phase one testing is near completion and future enhancements are in the testing and implementation stage.
No other musculoskeletal platform has standardized the collection of subjective and objective information to identify factors that contribute to the cause of MSK injuries. Our platform utilizes a proprietary artificial intelligence (AI)/machine learning (ML) technology to create an objective measure, called the MMH Discal Score™. MMH is strategically positioned to reduce a major MSK healthcare expense for providers, patients, employees, insurers, and health systems, including the worker’s comp arena. We believe that our all-encompassing SaaS is a first to market, disruptive, vertical-specific software platform that provides significant advantages to providers, employers, patients, and payers in the musculoskeletal market. One of our major completive advantages is we utilize software and technology for all our assessments and exercise programs with no human intervention via our APP and EMMA. MyMedicalHUB uses a tablet, computer or mobile device embedded with a camera/internet connection to provide the evaluations and customized interventions for each patient. MMH is the only company in the world that has AI-based risk assessment technology that is combined with an expert, learning ecosystem. Our competitors use tablets and wearables which need to be shipped and utilized by the end user and combine them with expensive human resources, such as Physical Therapists, health coach, and physicians who provide real-time interventions.
What is your business model?
The business model is a Software as a Service (SAAS) and we generate monthly subscription revenue for risk assessments, physical therapies (Exercises), care navigation and care coordination. In addition, we have fees for each customer’s portal and monthly customer service and tech support fees. We also intent to develop e-commerce solutions for MSK ecosystem services around orthopedics, podiatry services and partnering with durable medical equipment (DME) companies that wish to target our customer base for items such as custom bracing, orthotics and other devises for patients with MSK issues.
Walter Groteke of MyMedicalHUB
Walter Groteke – President, Chief Executive Officer and Director. Since co-founding the Company in 2018, Mr. Groteke has served as its Chairman and Chief Executive Officer. His continuing involvement years ago with the Company’s subsidiary Injury Cloud, LLC d/b/a My Medical Hub led to the creation of the Company’s SAAS cloud system, consisting of a peer-reviewed musculo-skeletal assessment, EMR, health information exchange, and telemedicine/telerehab enterprise solution. Mr. Groteke was instrumental in securing a joint venture relationship between the Company and Blue Cross/Blue Shield management company in South Carolina, who are currently using our technology.
In 2007, Mr. Groteke formed a medical device company, Back2Sleep, LLC., which created and patented a cervical orthosis, Atlas-T, which aids people to develop proper sleeping posture. The product achieved FDA clearance and Medicare coding. The product was successfully sold through retailers such as Hammacher Schlemmer and Home Shopping Network. When aired on HSN, the Atlas-T product was typically the largest revenue grossing product for that day. Back2Sleep has had over 1,000 medical practices across the United States prescribe its products to patients. In May 2016, Mr. Groteke was awarded a patent on another medical device, an electro-conductive garment used to assist people with pain management and other musculo-skeletal conditions.
Since co-founding NetWolves Corporation, a network provider and managed services company, in June 1998 until his departure in December of 2006, Mr. Groteke oversaw all day-to-day operational activities and was instrumental in establishing new business opportunities and strategic alliances with organizations, including Norstan Network Services, General Electric, Bristol-Myers Squibb, JoAnn Stores and many other Fortune 1000 companies. NetWolves not only created the first internet network appliance, but also created a patented secure remote management system (SRM2), which enabled remote management of its firewalls without opening an inbound management port. Mr. Groteke had also directed at NetWolves large financial efforts to provide funding for ongoing research and development, expansion, and general operations. From 2000 to 2004, NetWolves experienced growth of 1,652 percent, earning it the 127th position in the Deloitte Technology Fast 500 list.
Prior to co-founding NetWolves, Mr. Groteke served as District Manager for Techmatics, Inc. (General Dynamics), a Department of Defense information systems contractor. From 1993 to 1995, Mr. Groteke was a Senior Account Manager for NYNEX Strategic Account Management program.
Contact Walter: firstname.lastname@example.org