Keona Health is a company that develops software to improve communication in the healthcare industry. To learn more about the company, Pulse 2.0 interviewed Keona Health co-founder Stephen Dean.
Stephen Dean’s Background
Dean’s journey began in high-tech service with big names like Digital Equipment and Hewlett Packard and then with some startups.
“I felt stuck in my career and knew I needed to grow, so I completed my undergrad degree and got an MBA from Duke. After a brief stint in consulting, I met Oakkar, the CEO of Keona Health, and I knew I wanted to be part of this innovative company,” said Dean.
Formation Of Keona Health
How did the idea for Keona Health come together? Keona Health’s founder and CEO Oakkar Oakkar experienced a frustrating ER visit for a minor issue was the turning point. And he could not reach any healthcare expert, which is a problem many people face.
“We saw the need for a solution that improves patient access to healthcare, and that’s how Keona Health was born. Our mission is to revolutionize how patients connect with healthcare services,” Dean added.
Favorite Memory
What has been Dean’s favorite memory working for Keona Health so far?
“There’s nothing like hearing our clients’ stories. Imagine COOs celebrating higher patient satisfaction or doctors amazed at handling twice as many patients without increasing staff. And the cherry on top: hearing about a patient’s life being saved by our safety features,” Dean replied.
Challenges Faced
What are some of the challenges Dean faced in building the company? “Navigating the complexities of healthcare is challenging. The first challenge was identifying and overcoming the unique complexities healthcare creates. These complexities add layer after layer of decisions and documentation that has to be sifted through,” Dean acknowledged. “They include things like variations created by insurance providers, varying doctors’ practices, clinical screening for safety, and fairness in scheduling. We knew AI could help doctors focus on patient care and make nurses’ and agents’ lives easier. When it comes to challenges, I will add that COVID-19 shook the healthcare landscape, and we were no exception. But Keona Health only grew stronger through these, and the current climate feels really good to us.”
Core Products
What are Keona Health’s core products and features? “Care Desk, our main product, goes beyond typical call centers, offering both telephone and online access. We developed AI solutions to simplify scheduling and serving patients. Our AI tackles online medical interviews, patient access, and healthcare communication, streamlining the whole process and saving precious time and resources,” Dean answered.
Evolution Of Keona Health’s Technology
How has Keona Health’s technology evolved since launching? “At first, we focused on patients and online access. But we quickly realized we needed to address staffing, workflows, and provider preferences. Our technology evolved, creating comprehensive databases. Today, Care Desk incorporates databases of patient 360, practice 360, and provider 360. While this was initially painful, we can now provide unmatched ROI for our clients and fantastic experiences for patients and providers,” Dean explained.
Significant Milestones
What have been some of Keona Health’s most significant milestones? “Some of our proudest moments include building our first clinical decision support engine, successfully pivoting our business model, and expanding our AI solutions to encompass healthcare scheduling and marketing,” Dean pointed out.
Customer Success Story
When I asked Dean about a customer success story, he pointed out that they run the gamut from accuracy to staffing benefits. “Emerge Ortho doubled their number of patients without needing to increase their call center staff. Virginia Women’s Center went from being able to onboard just a couple of providers per year, to being able to onboard 10 per year. We’ve seen handle times reduced by 35%, calls redirected to self-service, and scheduling utilization increase,” Dean assessed.
Funding/Revenue
Keona Health has received federal grants in the past to study the safety and effectiveness of their approaches. And the company generates revenue through licensing of our products and services, as well as through strategic partnerships.
Total Addressable Market
What total addressable market (TAM) size is Keona Health pursuing? “The total addressable market (TAM) is huge. It encompasses healthcare providers, hospitals, clinics, and any healthcare organization looking for improved patient access solutions. We estimate it at $5 billion to $10 billion,” Dean estimated
Differentiation From The Competition
What differentiates Keona Health from its competition? “Keona Health cares about patients and our determination to tackle the biggest barriers to patient access. We’ve identified the top 8 barriers and have built artificial intelligence solutions around them. Our goal is to make healthcare access equal for everyone through cutting-edge technology,” Dean affirmed.
Trends
What are some of the trends Dean is seeing in his space? “Let’s talk about the importance of entrepreneurship in driving innovation and change, especially in industries like healthcare. Healthcare is an entrenched industry that is slow to change. I’m glad to see more investment in entrepreneurship in this space. It takes people committed to their cause and take risks to make a real difference. And that’s what we strive for at Keona Health,” Dean reflected.
Future Company Goals
What are some of Keona Health’s future company goals? “We’re excited for our next product which automates marketing outreach and can tie marketing campaigns to specific downstream revenue. We’re excited to deepen the positive impact we have on patient access and healthcare disparities,” Dean concluded.
