Headquarters: Miami Beach
Concept: Nexus Clinical provides a cloud-based, clinician-centric EHR (electronic health records) platform to clinical healthcare providers. Nexus’ multidisciplinary team has relentlessly pursued the goal of developing software that allows clinicians to work in a natural and more efficient manner.
Story: After completing medical school in 2008, Dr. Abhinav Gautam moved to Miami to start his residency in clinical anesthesiology at the University of Miami. Throughout his training he encountered a tremendous amount of inefficiency that he felt could be solved through technology. Around the same time he met Pradeep Tripathi, who previously founded and ran a leading technology company and who shared the same sentiments regarding the potential for improvement.
They co-founded Nexus Clinical in late 2009 and began engineering the product, Nexus EHR, to be a low-cost, no long-term contract software platform that manages electronic health records in a language any doctor can understand. Its focus is on preserving clinician interaction while maximizing the application of modern technology.
Fast forward to today and Nexus has grown 300 percent in the last year and now has 50 employees. Tim Langan, with executive experience leading sales teams at software companies, joined Nexus Clinical in 2013 to spearhead the operations and scaling of the company. “It is troubling to observe the challenges providers face in the form of documentation, decreased reimbursements, and poorly designed software. Overall, the market has completely missed the crux — that a physician's duty and focus is centered on the patient, not on documenting for documentation's sake,” said Langan.
Management team: Pradeep Tripathi, co-founder and CEO, whose last company, SysTech International, transformed the automative emmissions testing market and was acquired by Opus International; Dr. Abhinav Gautam, co-founder and chief medical officer, who is also assistant professor of clinical anesthesiology at the University of Miami’s Miller School of Medicine; Tim Langan, chief operating officer, a software industry veteran who was an executive from inception to sale at Simplexis and Accurent.
No. of employees: 50
Financing: Privately owned and funded
Recent milestones reached: One of the first 25 companies to achieve the ONC 2014 Complete Ambulatory Certification. Now offers a complete, cloud-based medical imaging solution that allows physicians and patients to access images anytime, anywhere. Established multiple strategic partnerships with industry leading practice management companies, most notably Kareo. Nexus has taken several large, head-to-head deals from entrenched, multibillion dollar healthcare software companies in the past two months, the company said.
Biggest startup challenge: gaining visibility and market share in a hyper-saturated market.
Next step: continue to forge strategic partnerships to exponentially increase distribution.
Strategy for next step: “Our domestic distribution strategy centers on establishing strategic business partnerships with practice management and revenue cycle management companies that do not have a sophisticated and flexible EHR product that is integrated,” said Gautam.
“We are a company comprised of clinicians and engineers. The industry norm is the approach that one company can do everything best. We all know that to be a fallacy ... Our expertise is clinical software and that’s what we focus on,” he added.