In future, it is estimated that one in two patients will probably be left without access to life-saving treatments, such as cell or gene therapies. At the same time, more than USD 170 billion is spent on drugs that don't actually help patients. Value-based payment models, where treatments are only paid if they work, can change this. However, value-based payment models are very complex. The enormous implementation costs have so far prevented healthcare from this life-saving shift.
Lyfegen has a handle on this complexity. The Basel-based company’s cloud-based platform – on which the patent is pending – collects and analyses disparate purchasing and health data and matches them against each other. The resulting insights enable the automation of value-based and complex discount contracts in the healthcare sector. Manufacturers and healthcare payers can agree on pricing terms for different treatments and automatically execute these contracts based on specific, real patient outcomes or financial scenarios such as price-volume discounts, indication-specific discounts, or cost caps. This overcomes technical limitations, challenges related to data integrity, privacy, and the high administrative effort.
Lyfegen's founders Girisha Fernando, Michel Mohler and Nico Mros have pooled their expertise in life sciences and financial services to make the healthcare system more efficient and in order to accelerate or enable patient access to life-saving medical devices, medicines and treatments.
«We optimise the business model within the healthcare industry. Thanks to our technology, healthcare payers now only pay if treatment is successful. This means patients can receive effective treatment faster or even at all. The healthcare system is becoming more sustainable, and manufacturers are rewarded for better and innovative therapies.»
«Our product is used by all players in the healthcare sector. Our customer base consists of pharmaceutical and medtech manufacturers, insurance companies and service providers. Together with all these partners, we want to help patients get better treatment.»
«Our solution will greatly improve the sustainability of the healthcare system. Swiss health insurance premiums are the highest in Europe and represent a considerable burden for many people. The healthcare system must become more efficient. Costs must depend on the success of the treatment. Value-based payment-models mean sustainability.»
«We benefit from regular feedback by BLKB and from their network. It's a great pleasure to be able to work with BLKB. In addition, we benefit from the external impact of the programme, because we were audited and were positively evaluated by BLKB and the programme. Of course the financial resources also enable us to make appropriate investments here in Basel.»
«We believe that BLKB is the most innovative and authentic bank. The big banks were not really interested in us. The ‹100 fürs Baselbiet› initiative was a great opportunity for us that we simply had to seize.»
«Believe in yourself and think big. With an innovative product, a large and growing market, hard work and the right team, anything is possible!»
«With our successful series A financing round with international venture funds, we were able to demonstrate the product-market fit. We are currently working on validating our business model and defined international markets such as the USA, Canada, and Europe.»
