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Category: Health Tech

Health in 2 Point 00, Episode 105 | JP Morgan 2020: Virta, Arcadia Health, Teladoc & more

Today on Health in 2 Point 00, Jess and I bring you the first ever cliffhanger episode—money was flying everywhere during JP Morgan last week, so stay tuned for more tomorrow. Jumping right in, on Episode 105 we discuss Virta Health raising $93 million for diabetes reversal treatment in a super secret way; Blue Mesa getting acquired by Virgin Pulse for diabetes prevention; population health analytics company Arcadia Health’s $29.5 million raise; Teladoc acquiring InTouch Health for $600 million, and finally Mona Siddiqui leaving the HHS. —Matthew Holt

Leading Innovation in Dermatology | Francesca Wuttke, Chief Digital Officer, Almirall

BY JESSICA DAMASSA, WTF HEALTH

Almirall is a dermatology-focused pharmaceutical company based in Spain, and its investment in R&D for developing new therapeutics leads the way as the largest within the country’s pharma industry. It’s no surprise, then, that Almirall has also adopted a digital therapeutics and digital health strategy to augment it’s molecular innovations with a ‘beyond the pill’ approach. We sat down with Almirall’s first-ever Chief Digital Officer, Francesca Wuttke, to hear about the pharma company’s digital strategy which is centered on laying the framework for advanced analytical platforms that gather more health data about patients and skin health. For help and fresh ideas, Francesca has opened Almirall’s doors to health tech startups, launching a brand-new accelerator program cutely called ‘Almirall’s Digital Garden,’ to ‘seed’ and ‘grow’ innovative solutions. Are there lots of health startups out there that focus on treating psoriasis, acne, and other dermatological conditions? Francesca tells us what she hopes ‘reap’ from the Digital Garden and how she hopes her broader digital strategy will flourish at the boutique pharma company.

Filmed at Barcelona Health Hub Summit in Barcelona, Spain, October 2019.

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Digital Therapeutic for Chronic Condition Management in India | Abhishek Shah, Wellthy Therapeutics

BY JESSICA DAMASSSA, WTF HEALTH

As the adage goes, “health is wealth,” and Wellthy Therapeutics is a startup looking to improve the health of patients with chronic conditions in India by making treatment more accessible. Only 5% of Indians are insured and much of the population is not health literate, so CEO Abhishek Shah hopes the Wellthy app will fill a critical gap in care for those with type II diabetes, hypertension, cardiovascular conditions, and respiratory illnesses. With 15K users, the startup is focused on scaling up to truly capitalize on the potential of India’s enormous population. Learn more about their big plans, including those for a Series-A, to support that expansion.

Filmed at Bayer G4A Signing Day in Berlin, Germany, October 2019.

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The Digital Physical Therapy Startup for Knee, Neck, & Back Pain | Dan Rubenstein, Physera

BY JESSICA DAMASSA

Bum knees, aching backs, and neck pain are literally a pain-in-the-neck for millions of people – making chronic pain one of the largest areas of healthcare spending. Is it time to disrupt the traditional delivery of physical therapy? Physera CEO, Dan Rubenstein, thinks so, and talks to us about how his healthcare startup is revolutionizing the way physical therapy is being delivered by taking it virtual and driving down the cost. With more than $10M in funding (their $6M Series A was led by BlueCross BlueShield’s Venture Fund) and a major contract with a nationwide health plan provider in the works, the health tech startup is on track to help millions of people feel better and avoid the crazy rush to the PT’s office.

Filmed at HLTH 2019 in Las Vegas, October 2019.

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Health Data Outside HIPAA: Simply Extending HIPAA Would Be a #FAIL

Vince Kuraitis
Deven McGraw

By DEVEN McGRAW and VINCE KURAITIS

This piece is part of the series “The Health Data Goldilocks Dilemma: Sharing? Privacy? Both?” which explores whether it’s possible to advance interoperability while maintaining privacy. Check out other pieces in the series here.

Early in 2019 the Office of the National Coordinator for Health IT (ONC) and the Centers for Medicare and Medicaid Services (CMS) proposed rules intended to achieve “interoperability” of health information.

Among other things, these proposed rules would put more data in the hands of patients – in most cases, acting through apps or other online platforms or services the patients hire to collect and manage data on their behalf. Apps engaged by patients are not likely covered by federal privacy and security protections under the Health Insurance Portability and Accountability Act (HIPAA) — consequently, some have called on policymakers to extend HIPAA to cover these apps, a step that would require action from Congress.

In this post we point out why extending HIPAA is not a viable solution and would potentially undermine the purpose of enhancing patients’ ability to access their data more seamlessly:  to give them agency over health information, thereby empowering them to use it and share it to meet their needs.

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Healthcare Might Look Good in Plaid

By KIM BELLARD

I don’t really follow FinTech — I can’t even keep up with HealthTech! — but it caught my eye when Visa announced that it was acquiring FinTech company Plaid for $5.3b; a 2018 funding round valued the company at $2.65b.  A 100% increase in valuation within a year suggests that something important is going on, or at least that people think something is.  

I suspect there may be some lessons for healthcare in there somewhere.  

For those of you who are equally as unfamiliar with FinTech’s terrain, Plaid has been described as the “plumbing” that supports many other FinTech companies.  Launched in 2013, one in four people with a U.S. bank account are now believed to use Plaid to connect with 2,600 FinTech developers connected to more than 11,000 financial institutions.  Its customers include Acorns, Betterment, Chime, Coinbase, Gemini, Robinhood, Transferwise, and Venmo.  Plaid claims it connects with 200 million consumer accounts. 

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THCB Spotlights: Scott Shreeve, CEO of Crossover & Jay Parkinson, Founder of Sherpaa

Today on THCB Spotlights, Matthew chats with a couple of the OGs from the original days of Health 2.0—Scott Shreeve, founder and CEO of Crossover Health, and Jay Parkinson, founder of Sherpaa, who were the first ones doing something different in terms of doctors figuring out this digital health stuff. The two of them ask the question, what would happen if you married the physical world with the online world and created a new care model that exceeds at both? While Scott was putting in onsite primary care clinics to employers like Apple and Facebook, he realized Crossover wasn’t reaching 70% of the people they were contracted with because many employees were geographically remote. Meanwhile, Jay was doing something similar with virtual primary care—which differs from traditional telehealth in that his model enables a true relationship between patient and provider—and the rest is history.

Digital Health Experts Needed for Landmark International Forum

SPONSORED POST

By CATALYST @ HEALTH 2.0

The IDIH Project (International Digital Health Cooperation for Preventive, Integrated, Independent and Inclusive Living) is setting up an expert-driven “Digital Health Transformation Forum” to promote and increase international collaboration, advance digital health, and support active and healthy ageing through innovation. IDIH is funded under the European Union Horizon 2020 Research and Innovation Programme and brings together prominent organizations from EU and five Strategic Partner Countries: Canada, China, Japan, South Korea and the USA. 

IDIH is seeking individuals whose expertise is in alignment with the following focus areas: 

1. Preventive careFocus: Early diagnosis and detection

2. Integrated care –  Focus: Using new technologies to redesign, coordinate and integrate health and social services and place citizens, patients and seniors at the centre of health systems

3. Independent and connected livingFocus: Tele-monitoring via smart home and living technologies

4. Inclusive living Focus: Helping the elderly feel more connected socially/ healthy living

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A New Era for One Digital Health’s First Unicorns? | Maeve O’Meara, CEO, Castlight Health

BY JESSICA DAMASSA, WTF HEALTH

Is Castlight Health suffering a case of ‘first-mover’ curse? One of digital health’s first unicorns, Castlight Health, IPO’d back in 2014 with a valuation of over $3 billion dollars (reportedly, 107 times revenue) at a share price of $40. Today, the stock trades around $1.20, and the company has endured years of frustration from shareholders who’ve complained about customer churn and questioned the company’s business model. A recent change in leadership at the top of the organization has ushered in new CEO Maeve O’Meara, a long-time employee of the trailblazing company, who’s now responsible for blazing a new path toward forward herself. Refreshingly candid about the road ahead, Maeve explains how some new high-touch (but cost-effective) offerings are opening up new markets for the biz and hints at potential partnerships emerging with Big Tech. A must-watch for any digital health startup, investor, or industry analyst who wants longitudinal perspective on health tech’s market resilience and the importance of timing. Maeve, who was a health investor herself before joining Castlight, sums up the challenge of trailblazing tech in healthcare like this: “In healthcare, you always want to be one step ahead and not two steps ahead — you can get burned easily by being two steps ahead.”

Filmed at HLTH 2019 in Las Vegas, October 2019.

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Uber as a Healthcare Company: The ‘Rideshare in Healthcare’ State-of-Play | Dan Trigub, Uber Health

BY JESSICA DAMASSA, WTF HEALTH

Looks like Uber has found its place as a healthcare company. On the heels of announcing a major partnership with Cerner to integrate its platform directly into the Cerner EMR system (and its reach of 220 million patients), Head of Uber Health, Dan Trigub, stops by to talk all things ‘rideshare in healthcare.’ From the regulatory environment shaping non-emergency medical transportation to reimbursement, Dan provides a sophisticated, in-depth description of the market opportunity the ride-hailing business sees in healthcare. How is Uber Health fairing within Uber’s larger business model, which is notoriously known to still be waiting to turn a profit? With more than 1,000 clients and 400% year-over-year growth in the health vertical it sounds like things are picking up.

Filmed at HLTH 2019 in Las Vegas, October 2019.

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