This start-up says its bracelet can save your life.
"Every year over 400,000 people die from medical errors. Doctors need accurate information about your health condition. The first responders need to know who you are," said CJ Wilson, founder of MyHealth.Us.
Wilson started the company with the goal of providing instant, convenient access to your medical records by storing all that data in one secure place — on accessories like bracelets, stickers, wallet cards, even shoe tags and key chains. The MyHealth.Us accessories are tagged with a machine-readable barcode known as a Quick Response Code, or QR Code. Embedded in that QR Code: your medical records, which doctors can retrieve with a QR code scanner.
Angel investor Nat Burgess, who oversees tech mergers and acquisitions at Corum Group, told CNBC similar business models have failed in this space, and he wondered how MyHealth.Us would be able to survive
Wilson said he believes MyHealth.Us' affordable prices will attract customers and grow the business. Items cost $20 each on the company's website, which includes two years of service, followed by a $10 annual fee to maintain the services.
But there are free apps on the market that let users store and share personal health records including Healthspek and onpatient PHR, which is also available on the Apple Watch.
While customers can buy MyHealth.Us' data storing accessories direct from the company, Wilson said the start-up's main strategy is to target employers, insurers and chronic-care groups. Wilson said these clients generate the majority of the start-up's revenue, which he declined to disclose.
The company also recommends local medical providers to its users. If a user chooses that provider, the start-up gets a referral fee.
The diagnosis
The fact that users upload personal medical information to MyHealth.Us's server, raised security concerns for Alicia Syrett, a board member of the New York Angels, who wanted to know how the start-up keeps the sensitive records secure.
"We are HIPAA compliant. We are on the same secure-servers as some of the largest hospital and networks use." Wilson said. "We've added additional layers to make sure that your data only goes to where you want it to be."
David Wu, a partner at venture capital firm Maveron, worried that customers would find the chore of uploading their own records to the company's server a burden.
Wilson told CNBC that users can authorize MyHealth.Us to upload their information, even with records that aren't digitized. The service is free If hospitals or doctors send MyHealth.Us a patient's records. But it charges $35 for every doctor it has to contact to retrieve a patient's medical records.
"We have joined with systems that make both your prescriptions and your digitized records from larger health-care providers available to us," he added.
Headquartered in Boca Raton, Florida, MyHealth.Us became HIPPA certified in March and launched shortly thereafter. The company declined to disclose any details about its user base, but did tell CNBC it projects it will reach 100,000 users by the end of 2016.
MyHealth.Us has raised $180,000 in funding. Key investors include David Booth, formerly of Pfizer.
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