Buffalo startup Ognomy continues to focus on expanding nationally, and partnerships will help it get there.
Ognomy, a web-based system for diagnosing and treating sleep apnea, has providers licensed in 35 states to use its system. Adding licensed providers has been a focus for the business since Q3 2022.
The business also has about 11 states where it has contracts with insurers so that patients can use insurance when providers use Ognomy, according to CEO Dr. Daniel Rifkin.
“We’re continuing to grow,” he said.
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The startup has seen quarter-over-quarter growth of over 100% since third quarter 2022.
It was also runner-up in this year's Inno Madness, a bracket-style contests where readers vote based on which startups they would invest in.
Ognomy, which employs 15, continues working on its national expansion by creating partnerships. Working with others means relatively low patient acquisition costs rather than spending on business to consumer marketing and allows the startup to grow volume more rapidly.
The business brought on in March 2022 Inspire Medical Systems, a medical technology company aimed at sleep apnea solutions, as a strategic investor partner. Ognomy also started a pilot program with Inspire and is moving forward with a full implementation of that program, which should be complete by the end of this year, according to Rifkin.
The startup also recently finalized a partnership with Cardiogram, an app that helps determine various cardiovascular risks.
“Basically, we make it very easy for them to help patients take the next step of their journey,” said Rifkin. “It makes it easy for patients to take action after recognizing risk.”
The business in April 2022 formed a similar partnership with ShutEye, a sleep tracking app.
Ognomy continues to pursue partnerships, from value-based car payers to national retail care providers to chronic care management companies.
“We’re really growing through these really neat partnerships with companies that need us as much as we need them, so it’s worked out really well,” he said.
As part of its mission to boost access for patients, especially those who live far from urban centers where care is offered, the startup is working on a rural health initiative. The business is teaming up with a Midwestern state payer, which Rifkin said he can’t name yet, to introduce Ognomy as a virtual way of diagnosing and treating sleep apnea to a large rural population.
“We have lots of patients,” he said. “(We) just have to grow our capacity to meet that need."
