Episode #597: Alexander Tsiaras Explains StoryMD and the Power of Owning Your Medical Data

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This is Pete Moore on Halo Talks nyc. I have the pleasure of

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bringing Alex Siaris, Story MD

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Recovering from COVID He's gonna be okay.

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He's gonna talk about the digital health platform that he has

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created and some interesting stops along your

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journey as well. Good to see you. Hey, good to see you as well, Pete.

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Yeah. It's been a long journey. We've been working on this

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for years. I was a programmer at DARPA before.

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I wrote most of the algorithms and code for DARPA to do virtual surgery

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in preparation for cutting soldiers remotely in

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robotic pods. And then when the heads of DARPA left

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DARPA and went to Yale, we had a big grant, and I wrote most of

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the algorithms and code to do virtual surgery in preparation for the astronauts going into

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deep space flight so they could be cut in robotic pods. So

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we're visualizing every part of the human body from the moment of

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conception to advanced age, seeing extraordinary things that,

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you know, we actually worked with Paul Louderborough. Paul developed a

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micromagnetic resonance imaging machine to look at the development of the fetus, which

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no one had ever seen before. He went on to win the Nobel Prize for

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inventing the mri. And we saw extraordinary stuff. The problem was

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that we were not moving the dial on behavior. And so we

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said, you know, if you're going to get people to really understand

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wellness, chronic disease, these kinds of conditions,

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it has to be the story of them and not a proxy story.

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So we then pivoted. We raised about $55 million in grants,

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then we raised another $13 million to just sort of hunker down

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and build this technology that basically can convert

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your body and all of your medical information into the story

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of you and not the statistics of you. And that's basically where we are now.

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So kind of dig into what that really means. Like,

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if I'm a. A patient and I'm on a cancer

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journey, what does that mean to. To have a storyboard?

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So let me give you a very personal example. My wife, who just had cancer

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two years ago, she starts off at One Medical, has, you know,

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her medical files there, ends up at nyu, diagnosed. She's

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now got the, you know, her sonogram, her

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pathologies, she's got her mammograms, ships

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them up to Memoris Sloan Kettering. The oncology

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side of Memoris Sloan Kettering has one medical record. The

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surgical side has another medical record. Because she's a tiny person, they were worried

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the chemo was going to really do a number in her bone, sends her over

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to the Hospital for special surgery. So within two months, this person

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has four different medical records. That makes no sense.

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And then she also has pieces of information that are coming. You get a

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PDF here, you get a screenshot there. Everyone. Pete

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has a shitty patient journey. Not because they

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don't love their doctors, not because they don't love the institution. And this is, again,

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for elite athletes. The problem is everything is

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fragmented and the individual has to actually cobble it all together.

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And the whole point is that all of these big electronic medical records and all

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the technologies are all about billing and administration.

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No one is actually empowering a great athlete or

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basically a patient, a cancer patient. They're going through the

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same thing, fragmentation, where they have to cobble all

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the information together for themselves. So where's

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your entry point into this

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fragmented and disparate information?

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Does it start with the patient logging in and you're like,

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managing, pulling everything? Yeah, it's totally patient focused. And

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so the whole point was patients are terribly intimidated by medical

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information. And so what you have to do is you have to make it very

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simple for them. So we had raised this huge

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library, $55 million, visualizing. And so we said,

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okay, let's code that for a thing called. Are you familiar with

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HL7? No. HL7 is a coding system.

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You're fully. You're already completely coded. Every time you go to a

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doctor and they tell you they want you to get your LDL

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cholesterol, they're going to give you a drug. Every one of those things are coded.

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So we have 1.3 million codes of disease,

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conditions, of drugs, of your vaccines. Everything has to be

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coded so that they get reimbursed. But at the same time, that code also

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represents what's going on inside your body. So what you can do

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is that we built a system where we took the largest medical library in

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the world and we coded it to this HL7, which is a global

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system, so that we can actually pull in your medical records and then tell

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you the story, as opposed to just giving you statistics and

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allowing it for billing. We said, why don't we turn that into a story that

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you can understand? It changed my wife's journey

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completely. And we feel that basically she's in remission,

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partly because we were proactive, because we finally understood every part of

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the journey. Gotcha. And then is

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there a revenue model associated with this for

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the patient? Yeah. The thing is, right now, again, if you're

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going to actually reduce friction, the biggest friction that you have before you get into

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the revenue Part you've got to get the, you've got to get them on the

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system and the, the greatest friction is how do I get my

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medical records in? So we basically build a system where you can actually import

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your medical records from 85,000 medical institutions. All wearable

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data can be immediately brought in and then what happens is that

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that all gets turned into an AI agent that starts to tell you

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a story about yourself. It's all free, make it easy to

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get it in, make it free. And then basically what you do is you can

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actually make money off of the quality of the data. For good

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reasons, not for. The problem is what happens in most AI and these other guys

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is that they basically just rip off your data. What we're looking for is

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we're sitting here saying if we can actually use this for good, then you can

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actually make some money off of it and do some good for people. Again, coming

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back to the importance of data, my wife is a

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69 year old, thin white woman who has a young

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black woman's cancer. So when basically she got it, they didn't know how to treat

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her. They, so they just gave her like they just said, we're going to give

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you the most severe cancer because they didn't have enough data on her.

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Data, if it's used responsibly is great. The problem is

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it's so abused by, by the Silicon Valley. You know, it's, it's like

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Silicon Valley loves data and hates people.

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This is Pete Moore. I want to let you in on a little secret. There's

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this company called Promotion Vault. And what they do is they give out rewards

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from retailers that allow you to incentivize your

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members without having to do zero down and one month free

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or giving away shakes or giving away T shirts. What you want to

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do is build a rewards program that lasts, that people value

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and that doesn't discount your own products and services. So here's the

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deal. There's something called Rewards Vault. The Rewards Vault is going

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to allow a member to set up their own profile. They are going

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to answer questions, you are going to get those answers. You're going to be able

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to target those members and you're going to reward them inside your club,

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inside your spa, and outside of the club and outside of the

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spa to get them to become loyal, to get them to pay their

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monthly dues and to be rewarded properly for the

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actions. A lot of companies are cutting back on rewards. You shouldn't be.

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Promotion Vault, your answer, trust me, this is real.

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So, so who else is taking this, you know, type of.

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Who's taking this type of approach to

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really, like the patient journey and putting all this information in the hands of

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the ultimate user versus saying, hey, I own the data. I'm using

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it for my own purposes. Seems like everyone owns the data, and I

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kind of call bullshit on it. Yeah, I

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mean, what has happened is over the years, no one wanted to go this route

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because patients, they said patients don't pay. What

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is happening, though, is that people are paying. People are paying.

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And I mean, take a look at aura. When we met with or a

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year and a half ago, they were worth one and a half billion dollars. Now

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they're worth 11. People are paying, you know, and it depends on what

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they're paying for. So, yes, they will pay, and

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it just depends on the quality. And because the thing is, if you really think

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about there, there we have three tiers of businesses. The

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first tier is who's going to pay out of pocket. And there are six

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categories of people who pay out of pocket. Women going through ivf,

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very motivated, paying already pregnant women who want to optimize their

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pregnancy. And the third one are women who postpartum. So it's just sequential. So

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we call it the trilogy. Then it's parents of

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children who have a condition like type 1 diabetes,

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and they need to manage that child remotely. But there are thousands of these

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cancers and things that they have to do that they have no tools, or kids

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who have to manage their parents. Then it's elite athletes

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who once again are big ticket items, but their information is

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fractured and fragmented. And then it's pet owners. Those

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are the six of the categories that will pay out of pocket.

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The second category are the 15% worried. Well, maybe the 10%

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sitting on the fence. And the third tier of those people are people

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in crisis. You're going through cancer, and you may be going to adopt it

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episodically, but you're talking about hundreds of millions of people who have nothing

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right now. And it's a little bit Pete, like what happened

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with Steve Jobs in

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1984. What he did is he recognized it was an

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inarticulated frustration that you owned by the mainframe.

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IBM owned you. You know, basically the IRS owned you. And all of a

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sudden with Macintosh, you could own yourself. There's an inarticulated frustration

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that everybody owns your medical information and your medical journey, and you have

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no control over the insurance companies owning. Everybody owns you. And there's this kind of.

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You're starting to see this movement. So I would say that five years ago

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we were too early, but now the time has come where people basically want

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to own and understand and travel and not have to sort of like beg

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people to get, you know, stupid medical records from the past.

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Got it. So help me understand. So we're going to

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empower the patient with all their medical records. And

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then you've also got 50,000 videos,

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75,000 images. Yeah. Is that part of the platform?

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Is that like a. Is that helping someone go through,

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whether it's a recovery or they have a session

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and they're. They're trying to figure out what's going to happen during that

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session or that therapy? Yeah, it's. It's one of the things

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that we recognize that people will be

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proactive if you basically engage them. It's one of the problems people have

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with clinical trials. They feel like they're guinea pigs. You've got to get them involved.

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You got to get them to feel like they're a part of the process. In

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order to do that, you have to empower them with sort of like a little

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bit of vanity. Here's what's happening inside your body. All these characters that are

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going on are almost like characters in a play. And what you're trying to do

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is give them an understanding of what's going on in the body and that you

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can actually maneuver how this play is going to play itself out.

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We took one guy a couple of years ago, he was with the Grateful Dead,

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and we took him. We put him in Canyon Ranch for four months, the first

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week of every month for four months. And what we did is we actually measured

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all his biomarkers, and within three. Within four months,

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we reversed his biomarkers for four by three decades.

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It's all because he was being explained what was going on inside his body.

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He was being proactive in taking care of his body. It is amazing how

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much control you have over your own body, if in essence, you understand,

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are motivated. So you've raised a lot of

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money from grants and also some private capital.

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Yeah. In order to get this company

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to the next level, does it become a consumer brand that you

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have to build or is there a partner or channel? Partners, yeah. Now it's

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time to partner with other people. So we took a completely different route. We had,

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because we get the $55 million in grants to visualize all the body and

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to create the huge library. The second part was to create the technology

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that could actually turn all of this content into a story that could

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actually map you globally no matter where you are. Because this HL7 that I was

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mentioning is not just in the US it's global. So we're sitting

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here saying if we can become the principal way that everyone understands and

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manages their well being going forward, then fundamentally

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you've got a trillion dollar business. So what we did is we just hunkered down.

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We didn't create a business, we created basically a think tank

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and spend $13 million on building this. Now we just started

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commercialization and already companies are coming to us to say really,

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we really want to. Basically we can use you for clinical trials. We can

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use talking to some of these big companies that are wearing the wear,

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making the wearables and others are coming and saying we could use this for elite

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athletes, we can use this. So basically companies are coming to us now.

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And so what we're going to do is partner with these companies, teaching

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partnerships with them to basically scale the company

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significantly. Smart. Smart. So where's the

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company based? How many employees do you have? We're in New York City,

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we're in Brooklyn and, but basically, you know, our,

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our content team is in Toronto. Our, our one engineering, our

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AI team is in Moldova, our another engineering team is in

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Bulgaria. And then we have a bunch of people in New York. So we're all

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over the place. Gotcha. And what are some of the.

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How do you kind of remind yourself that

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you're making progress at the same time, know that this is, you know, a big

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undertaking and you know, decades to

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get to from point A to point B?

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Well, it's often what happens is that you'll just get up in the morning, all

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of a sudden you'll start getting some emails from some very powerful people who are

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sitting here saying, we've been watching what you guys have been doing for a while.

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We didn't quite understand until recently, but let's have a conversation.

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Because the thing is that we feel that we can elevate the

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knowledge of our, of our patients and also create a

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kind of a stickiness that we've not been able to create with all your technology.

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People really want to understand what's going on inside themselves.

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And again, it's not, we're not naive. But if you do 15 to

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25% of the population, you're still talking about

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65 to 80 million people in the U.S. that's the same in Europe, that's the

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same in Asia. So you're talking about

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hundreds of millions of people globally that have nothing. Mm,

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incredible. Talk a little bit about

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if I get onboarded. Yeah, right. Is it, is There any

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like telehealth, you know, component to this or it's basically

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all, you know, I could actually set up my

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journey and program it as it pulls in different

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situations or therapies that I'm getting done or

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surgeries. It's kind of like AI. Yeah,

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sure, yeah, yeah. The thing is that the

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AI agent, what we're trying to do is make the AI agent your primary care.

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When we first started this, Pete, we thought we

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would be the support system for the 364 days

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that you're not in front of your primary care. But over the years that we've

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been building, this primary care is just disappearing. And it's not just the us, it's

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everywhere. And so we're realizing the fact that this can

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become primary care in your pocket. So our AI agent, every time you

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ask it a question, it will review all of your medical information and

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give you an answer in relationship to your medical files. It's like

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having a primary care in your pocket. And what we're doing is we're partnering. So

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for example, we just partnered, just signed the contract last week with Maiden

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Lane Medical. Maiden Lane Medical is the largest medical practice in New York City

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for women's health. And they're now expanding out to maternal health

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with another group and they're expanding by basically building the

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largest telehealth system for women in the United States. So

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basically they're using Story MD for their front end to basically allow all these

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women to really understand what's going on from menopause to pregnancy.

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So, you know, Chat GBT has become, you

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know, somewhat of a primary care or answers

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for a lot of people these days and some of these other

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AI platforms. So how do, how do you differentiate between

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what, what knowledge and depth and content you have and

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how does that not get on these other platforms that are scraping

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information? You know the problem with ChatGPT and the others,

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they're brilliant, but the problem is that they do not know

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you. They know what you're asking them.

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But you have to have, I mean, this is also one of the problems of

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AI being over promised by a lot of these wearables. You can't only get

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5, 10 biomarkers, you have to get everything. You have to

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have all the clinical history of the patient, you have to have all the wearable

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data, you have to have the moods, you have to have their images and then

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you could function as a AI agent.

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So since we have all the data in this knowledge base

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that basically that the patient is guaranteed to be

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told A story about themselves. ChatGPT can't do that.

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Gotcha. So how many,

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you know, you mentioned that your wife basically like was, was

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your was using the platform to get through her,

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her cancer treatments. Now she's perfectly fine. But one of

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the interesting things that she did, which was important for

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us, she went to the doctor when she was finally recovered

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and they kept on talking to her about survival. And she said, I don't

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want to just survive. I want to thrive. And so she wanted to go to

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the gyms and wellness. It's not just for

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the people who want to go to the gym to be well. It's also for

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these people who want to recover and be vital again.

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This is Pete Moore. Here's the last tip for you of the podcast.

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We are partnered up with a company called higher dose

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higherdose.com they are the leader in

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workout recovery products. Infrared technology,

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LED light masks, neck enhancers, and

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other products such as PEMF mats and sauna

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blankets. If you have not gotten on the workout

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recovery train yet, your time and your stop

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is now. You got to get these products in there before these workout

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recovery and spas end up saturating your market.

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Having your members walk out of the club and going into one of their locations

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for 200 bucks per month where they're paying 39 to

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you. Let's become an expert in workout recovery. If we

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are already an authority in workouts, Higher dose,

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check it out. There's a wholesale code and we look

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forward to helping you augment your products and services

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to meet the demands of your members. And hey, let's get people

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happy, healthy and sweating. And the recovery should be

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just as good as the workout.

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So in closing here, what's been the biggest

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surprise or something that's happened that you're like, wow, like I'm glad I

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did this, just like or an aha moment

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along the entrepreneurial journey. The the one

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thing that we finally realized at the end is and again, this

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comes in Silicon Valley is interested in your data.

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It's story that gives a soul to your data.

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And the story is the empowering element.

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All right. I love it. All right, Story md, You heard it here first on

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Halo Talks. It will be in your pocket

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and helping you get through all of life's

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journeys, challenges, and then to

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optimize and thrive. All right, good to have you on,

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man. Thanks very much.

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This is Pete Moore on Halo Talks. Your captain speaking. I am

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the founder and managing partner at Integrity Square. We've been around

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now for 15 and 1/2 years we have been helping

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people like yourselves get capital, do mergers and acquisitions,

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consulting strategic advice in the health, active lifestyle

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00:20:53,460 --> 00:20:56,980
and outdoor halo sector, trying to help as many

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entrepreneurs as possible get to the next level, take that

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inflection point and be the force behind your growth. We

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are helping companies that have at least $3 million of

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EBITDA, around $10 million of revenue, and

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we are positioned to help get institutional growth, growth capital,

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or to negotiate deals with strategic partners. If

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you go to integritysq.com isq

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00:21:22,940 --> 00:21:26,540
you can see our capabilities. Deck Happy to set up a consultation at any

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time that is free of charge and we look forward to

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helping solve obesity, loneliness and diabetes

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and go Halo.

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Sa.