Rocket Pitch: G.T. LaBorde

illumicare

Business Model:

With patients’ higher deductibles and strained healthcare finances, doctors are being told to provide “value-based care.” However, no one tells them what things cost. IllumiCare empowers physicians with real-time, patient-specific costs in financial and human terms, so that they can make better treatment decisions. Our customers are health systems that make this information available to the physicians who practice there.

Opportunity in the Market:

Some patients have complications when they are on too many medicines. Radiology tests increase lifetime cancer risk. Too many lab tests in the hospital can lead to anemia. As a patient you want just the healthcare you really need and no more. Displaying these patient-specific risks, along with the financial costs, allows physicians to make more appropriate treatment decisions—reducing patient risk and unnecessary expenditures.

Where the Business is Going:

The technology we’ve invented to display costs in context with a patient’s electronic medical record also serves as a platform to display other patient-specific information that can assist physicians, such as predicted risks and gene/drug interactions. We want to give health systems the flexibility to decide what useful information to show in what circumstances, without being limited to the electronic medical record.

G.T. LaBorde is a “serial entrepreneur” who is currently the CEO of IllumiCare. He has founded or been the CEO of five early stage technology companies. He was a co-founder of Birmingham-based MedMined, which grew from a one-room office to a more than $100 million acquisition by Cardinal Health in 2006. LaBorde has been an investor and mentor in several other successful healthcare companies: MEDSEEK (acquired by Silver Lake), Accelarad (acquired by Nuance), BrightWhistle (acquired by Influence Health), and Hygia Health Service (where LaBorde is on the board). He also served as CEO of Birmingham-based Malcovery Security, a cyber security company, and led its 2015 acquisition by PhishMe, Inc. He is originally from New Orleans, and obtained a law degree from LSU.

What is a rocket pitch? 

Simply put, it’s you getting across the purpose of your business and doing it in just three minutes. Also known as “the elevator speech,” your rocket pitch should focus on three main points—the opportunity, market, and business model of your company—that convey the key reasons why a potential client should want to know more about what you do.

Do you have an innovative rocket pitch? 

Send it to joe@bhmbiz.com to be considered for future issues of BHM BIZ.