Thursday, September 5, 2013

LCMS+: Helping Med Schools Diagnose Their Own Educational Condition

The fourth in a series of articles that highlight companies selected to Demo at the CED Tech Venture Conference 2013.
Imagine for a minute that you’re in medical school, taking several challenging courses, tracking patient encounters, studying for exams, doing research and applying for residencies. Now, think about being that medical college. You must maintain accreditation requirements while making sure each of your students is succeeding in the myriad of experiences required to become physicians. It’s a highly complex structure for both students and educators.
 LCMS+ streamlines the way that structure works.
This specialized learning management system for schools of medicine and other health sciences helps them meet their accreditation requirements while gaining greater insights into their own educational efforts.

This innovative system was initially developed to help run the educational and accreditation efforts at Duke School of Medicine in a way that was more relevant, efficient and cost-effective than other solutions could provide.

“Healthcare education needs are so specific that general market solutions like Blackboard and Moodle simply don’t fit,” said Allison Wood, CEO. “Health sciences schools come to us because we understand the realities of educating healthcare professionals.”

Since LCMS+ spun out of Duke late in 2011, the business has already established a strong growth pattern with a “very attractive” recurring revenue base. By staying focused on the highly defined target market of health sciences education, the LCMS+ team has successfully leveraged that Duke heritage to build the foundation for a very competitive business. While LCMS+ has grown organically to this point, outside investment is needed to expand internal resources in order to meet market demand.

“We are bringing together a fragmented marketplace during a time of great growth in this sector,” says Wood. “We are taking business away from our competitors due to our customer focus and willingness to incorporate client ideas into our product development. We think it’s pretty impressive to be performing this well, this early, in the enterprise space – and we're confident it's a trend we can continue.”

Based on the company's niche market focus, North Carolina is a smart home for LCMS+ because education and healthcare are areas in which NC is clearly a leader, with its impressive array of top-tier universities, hospitals and other health sciences resources.

Wood hopes to meet potential investors at the CED Tech Venture Conference 2013 who understand the impact of technology on education, and specifically Higher Ed. The fact that Jim Shelton, III, the Acting Deputy Secretary at the U.S. Department of Education, will speak at the conference indicates the kind of impact that the CED Tech Venture Conference can have. 
Chat with LCMS+ at CED Tech Venture Conference, September 17 – 18, 2013 at the Raleigh Convention Center.


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