The platform was developed by new ShareRoot CEO Michelle Gallaher and ShareRoot board member Damon Rasheed.
Social media based data-centric technology
The global healthcare industry is becoming increasingly interested in the real lived experience of patients and self-reported outcomes on social media.
Patients are far more likely to report adverse events and progress during recovery from injury or illness to social media than they are to their consulting physician.
What patients search for can provide a valuable and personal insight into their perceptions, attitudes, level of engagement, behaviors and sentiment that if known by physicians, medical researchers and technology innovators might directly impact the development of a new drug or device, change the clinical approach, support compliance or improve adoption and correct use which in turn means better health or a better experience for the patient or carer.
Opyl utilises digital tools, custom designed algorithms artificial intelligence and machine learning to access data, create meaningful groups within the data and then search and analyse the data for significant patterns.
ShareRoot CEO Michelle Gallaher said: “This is exactly the deep real world analytical solution I wanted when I worked in healthcare and research marketing roles in the past.
“All of the three new clients are new to us, with Opyl delivering exceptional shared value, successfully expanding our client base.
“The more we use Opyl as a customized data-driven analytical approach to solving marketing and patient or healthcare provider engagement problems, the more we are realizing the value of the insights and outcomes we can deliver.”
The launch of Opyl opens a new significant revenue stream for the company.
Opyl contracts are constructed on a value-based pricing model rather than a time and materials model.
Value-based pricing is a concept that reflects the real value of the outcome or impact to the client’s business, relative to their business size and scope.
ShareRoot aims to initially offer Opyl as specialty projects, but aims to create an opportunity to offer Opyl and a web-enabled client interface as an ongoing retainer service model, providing both near term and extended revenues.
ShareRoot will also look to build on the initial contracts to expand its technologies and services in digital healthcare.