[SeoulTech x Donga.com Joint Planning] Seoul National University of Science and Technology (hereafter SeoulTech) operates various support programs to aid the growth of startups, including preliminary and early-stage startup packages, makerspaces, and global collaboration. Furthermore, in collaboration with Donga.com, it provides global news to assist startups in overseas promotion and expansion, introducing promising deep-tech startups domestically and internationally.

According to data from market research firm Global Market Insights, the telemedicine market in the United States was valued at USD 81 billion in 2024 and is projected to grow to USD 94.3 billion by 2025. This growth is attributed to the increased interest in non-face-to-face medical services since the COVID-19 pandemic. Data from the U.S. National Institutes of Health indicates that the utilization rate of telehealth in the U.S. surged by 766% after the pandemic, and consumer adoption also increased more than fourfold from 11% to 46%. This rapid growth has created a fiercely competitive battleground.



Phyxup Health is a startup that presents a new paradigm in the U.S. remote therapeutic monitoring market. It has introduced a B2B SaaS that automates the rehabilitation process, precisely analyzes patient data, and recommends optimal treatment methods to medical professionals. The solution to overcoming the limitations of telemedicine is artificial intelligence. How does Phyxup Health utilize AI to achieve technological innovation? A conversation was held with Sangwon Lim, CEO of Phyxup Health.

Conceiving a Startup Idea in the U.S. Rehabilitation Scene

“Due to the nature of rehabilitation therapy, patients need to visit the hospital more than once or twice a week. However, driving for more than 30 minutes with a painful body is not easy. The U.S. rehabilitation scene is stuck between treatment and patient convenience. Experiencing the rehabilitation scene, I thought that properly connecting hospitals and patients could create new opportunities.”

CEO Sangwon Lim founded Phyxup Health to address the limitations of the medical field experienced while working as a rehabilitation therapist at a hospital affiliated with Harvard Medical School. He found that in-person consultations imposed a physical burden on patients who had undergone hip surgery, and telemedicine using video conferencing platforms was insufficient for effective rehabilitation. The lack of private insurance coverage for telemedicine was also analyzed as a factor exacerbating the inconvenience of rehabilitation.

However, in 2022, the Centers for Medicare & Medicaid Services (CMS) in the U.S. introduced medical billing codes for Remote Therapeutic Monitoring (RTM), reversing the situation as private insurance coverage became possible. This presented an opportunity for Phyxup Health, which had struggled with a lack of a clear revenue model and initial investment environment since its inception.



Phyxup Health is a B2B SaaS that monitors patients' conditions during rehabilitation. Medical professionals send customized rehabilitation exercises or educational materials to patients and collect various data such as changes in pain, step count, and walking speed. Phyxup Health analyzes the collected data to assist medical professionals in making precise treatment decisions. CEO Sangwon Lim stated, “General remote therapeutic monitoring services provide raw data. However, Phyxup Health is designed to analyze patients' conditions using AI, predict symptoms three months later, and recommend optimal treatment methods.”

The automation of treatment documentation and remote therapeutic monitoring medical billing (CPT) claim documentation is a distinguishing feature of Phyxup Health. By automatically managing complex medical billing requirements such as 16 days of treatment data and over 20 minutes of monitoring time, it significantly reduces the administrative burden on medical professionals.

Most processing involves AI technology. The treatment prediction and recommendation model was built based on CEO Sangwon Lim's experience and academic materials while majoring in disease epidemiology at Harvard School of Public Health. Currently, they are advancing the model by training it with patient data using their self-developed AI model. The long-term goal is to personalize it by learning each medical professional's treatment preferences and patterns.

Aiming for 50% of the U.S. Remote Rehabilitation Monitoring Market

Although the U.S. remote therapeutic monitoring market is steadily growing, there is still a lack of awareness about remote treatment, according to CEO Sangwon Lim. He stated, “When talking to patients in the U.S., many are still unaware that remote medical monitoring systems are considered medical services. I believe a shift in perception across the market is necessary.”

Securing quality data necessary for AI advancement is a concern for Phyxup Health. To obtain diverse treatment data, they plan to expand partnerships with medical research institutes in the U.S. and actively attract hospital and clinic customers.

Phyxup Health unveiled its Minimal Viable Product (MVP) in August 2024 and transitioned to a paid model in November 2024. Within eight months, they secured 16 hospitals and clinics in the U.S., including 'Hebrew Senior Life,' a hospital affiliated with Harvard Medical School, as clients. They also secured patient data from approximately 700 individuals. The partnership with 'Marcus Institute for Aging Research,' a research institution under Harvard Medical School, is expected to aid in AI advancement.

Additionally, they are discussing the application of Phyxup Health's remote consultation monitoring solution with four electronic medical record (EMR) software companies in the U.S. In Korea, they are in the final stages of the TIPS program and seed investment attraction. Phyxup plans to accelerate research and development and business expansion through various investment activities.

CEO Sangwon Lim stated, “The most challenging part for a medical startup is securing initial customers. However, the experience and network from the affiliated hospital of Harvard Medical School helped overcome the difficulties. Especially through the research partnership with Hebrew Senior Life, we were able to secure the reliability of clinical data.”



Phyxup Health is receiving support from the AWS Jungle Program, co-hosted by Seoul National University of Science and Technology and AWS. Various programs, including professional investment mentoring and workshops, have been provided. A dedicated technical support manager was assigned to help effectively navigate the AWS ecosystem. CEO Sangwon Lim stated, “Since Phyxup Health is a cloud-based service handling patient health data, security is crucial, so I definitely wanted to work with AWS. Fortunately, we were selected for the support program of Seoul National University of Science and Technology and received assistance. I am confident that the insights gained from various support programs will be the foundation for growth.”

Phyxup Health is ready to move forward with the goal of setting a new standard in the U.S. rehabilitation monitoring market. CEO Sangwon Lim stated, “The long-term goal is to capture 50% of the U.S. rehabilitation monitoring service market. Furthermore, we will strive to ensure that patients in Korea can also benefit from advanced medical services.”

IT Donga Reporter Hyungseok Kang (redbk@itdonga.com)

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