“2 Minutes With…” Alex Izaguirre, CEO of Aprenda Systems
The Texas Medical Center’s Innovation Institute brings in some of the best health care startups from around the world to tap into the world’s largest medical center.
In our new blog series, “2 Minutes With…” we highlight some of the superstar alumni that have gone through our TMCx accelerator program.
Founder and CEO
1 Tell us what your company does in 100 words or less:
Aprenda Systems has developed the only comprehensive solution for medical groups, hospitals and insurance payers to access the most accurate and timely provider data, affording health care organizations a method to effectively and efficiently minimize credentialing delays, billing/claims errors, incorrect directories, administrative waste, patient leakage, regulatory fines, provider abrasion and patient dissatisfaction.
2What aspects of the health care industry most impact your business?
Over 25 percent of the U.S. health care spend is accounted to administrative costs, and $26 billion is spent to capture and update provider data. Aprenda will not only significantly reduce this cost for providers, medical groups, hospitals and payers, but all support strategic efforts in value-based care, population health and interoperability by create the world’s first universal provider identity.
3What has been the easiest thing about going after funding?
Between the support from the TMCx and advisors we have developed a solid business plan and have hit the fundraising market with great interest. The upfront preparation seems to have paid off, and we anticipate raising the necessary funds in the next quarter.
4What was the benefit of being in TMCx?
TMCx has been an amazing experience. Through this program, we were able to connect with great advisors that helped us hone in on our value proposition. We connected with an organization that was willing to serve as a beta site and later converted to our first customer. The quality of the courses and speakers is outstanding. The attention to detail and dedicated team supporting the cohorts has lead to significant improvements in our pitches to both clients and investors. The facility is simply inspirational. We often bring clients to meet with us at the TMCx as it affords them an opportunity to see how committed TMC is to supporting innovation in Houston as well as inspiring confidence that Aprenda Systems is well-supported and here to stay.
5 Where is your company headed?
With interest from various payers, hospitals and medical groups, Aprenda Systems is on its way. Our solution gives providers one place to collect all their credentials and selectively share them with any person or entity. Health care organizations gain a single source of truth for provider data that is available to any department or technology environment in their organizations.