Consentic

Consentic, founded by doctors in 2018, is a HealthTech company based in Barangaroo, Australia, that addresses the complexities of the patient consent process. The firm targets a wide range of healthcare providers, including individual doctors, medical and dental clinics, hospitals, and clinical trial organizations. Its business model centers on providing a digital platform that streamlines and standardizes how patients give informed consent for medical procedures, treatments, and clinical trials. Revenue is generated through a subscription-based model with tiered pricing based on the volume of consent requests, ensuring scalability for practices of all sizes without requiring upfront license fees or long-term contracts.

The company's core offering is a complete consent management platform that replaces traditional paper-based methods, which are often inefficient and pose medico-legal risks. Consentic provides a library of peer-reviewed, animated videos and digital consent forms that explain complex medical information in an easy-to-understand, patient-centric format. These resources can be delivered remotely via email or SMS, allowing patients to review the information at their own pace. Key features include language translation to improve healthcare equity, audit tracking of the consent process, and CFR Part 11 compliant e-signatures for clinical trials. This digital approach is designed to enhance patient understanding, improve satisfaction, and reduce administrative burdens and 'failure to warn' risks for healthcare providers.

Since its inception, Consentic has gained traction in the Australian healthcare market and has been validated in two randomized controlled trials, which demonstrated that the solution improves patient knowledge and satisfaction. The company participated in the HCF Catalyst accelerator program in 2018 and has secured seed funding from investors including Village Capital, Artesian Venture Partners, and HCF. By focusing on a critical and often overlooked aspect of healthcare, Consentic aims to improve safety, efficiency, and the overall quality of the patient-doctor relationship.

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