- Origin: MO
- Grant awarded in: 2019
What is Phas3?
phas3 is a digital health company focused on increasing participation in cardiac rehabilitation (CR), an important but extremely underutilized secondary prevention program for patients with heart disease. 80% of eligible patients never even enroll in a CR program and 95% of eligible patients don’t complete the full course of treatment despite data suggesting that completing a CR program doubles the chances of extending one’s life by five years or more. There are two main reasons why CR is a broken model within the U.S. healthcare system: 1. Patients are reluctant to participate in a CR program because it is expensive, time-consuming and inaccessible due to distance or transportation issues; and 2. Providers typically lose money because CR is expensive to operate and poorly reimbursed, and therefore they do not aggressively recruit referred patients, leading to further stagnation of the program. phas3 is fixing the CR system by removing the barriers to participation and compliance while helping providers achieve financial viability. The phas3 program makes CR viable for patients by allowing them to complete the protocol in the comfort of their own home while costing 90% less than an in-clinic program and requiring 85% fewer clinic visits, typically saving 36 hours or more in travel and work time. phas3 also helps hospitals transform their CR department into a sustainable profit center by enabling a new revenue stream via new CMS reimbursement codes, reducing staff burden by managing the patient recruitment process, and supporting the business office by developing a customized CR financial model including support during the back-end claims process. phas3’s accessible, cost-effective, and reimbursable approach to cardiac rehab can help a health system maintain the existing qualities and add a tangible value proposition based on revenue and profit improvement.
Lucas is currently Co-founder and CEO of phas3, a digital health company that makes cardiac rehabilitation programs more accessible and efficient. Before starting his entrepreneurial journey, he studied Biomedical Engineering at SLU. During his time as a student, he designed and taught a Signals and Systems lab course that included projects such as building an ECG circuit and building a guitar tuner out of an Arduino. In his free time he loves playing music (guitar, mandolin, ukulele and more) and making mobile apps.
Dan is a St. Louis native and graduate of biomedical engineering from St. Louis University. During his time there, he developed a strong interest in wearable devices, electronics, and smartphone-connected medical devices. After undergoing an ACL surgery and the accompanying physical therapy during his junior year of college, he began to consider how smartphones and novel wearable devices could potentially assist in the recovery process. His interest on this topic inspired him to join a professor’s research lab with Lucas to investigate smartphone-based medical devices. The work Dan and Lucas did in this lab convinced them that innovations in this area will continue to shape the future of healthcare, and ultimately led them to where they are now. Within phas3, Dan’s current area of focus is healthcare economics, business strategy, and customer acquisition.