Decision making is a daunting task. Combined with navigating health insurance jargon, scattered health information, and feeling crummy as you rush to find care during the onset of a cold, making decisions can be an absolute nightmare. However, artificial intelligence (AI) enabled tools have the potential to change the way we interact with and consume healthcare for the better. AI’s ability to comprehend, learn, optimize and act are keys to organizing the varying nuisances of the healthcare experience.
In a 2018 survey by Accenture, healthcare consumers indicated they would likely use AI for after hours care, support in navigating healthcare services, lifestyle advice, post-diagnosis management, etc. While AI in health is not limited to these functions, the report highlights consumers’ trouble in making informed healthcare decisions, hence this may be an area where AI can truly help.
If you have an innovative solution that addresses Patient Engagement and Remote Monitoring, Bayer’s Dealmaker Challenge wants to hear from you! Apply here for a shot at collaborating with the Bayer G4A Digital Health Team and participating in Dealmaker Day, an exclusive matchmaking event, October 9th in Berlin.
What is healthcare without patients? For decades physicians have been a one-stop shop for diagnosis and treatment, a trusted source. And yet it’s only been in recent years that the entire healthcare industry has woken up to the notion that patients can and should have an active role in their healthcare and the decision making process. Patients may not have a medical education or clinical experience, but they do have a strong asset going for them: intimate knowledge of their bodies and access to information only they can provide. The rise of wearable technologies over the past decade has only increased patients ability to quantify their experiences, health and otherwise. Diet, exercise, daily habits, stress levels, family life, physical environment all contribute to an overall picture of health. Yet too often, clinicians only see a slice of their patients health picture – the picture that is presented during office visits. The increased importance of tracking lifestyle data has clinicians and technologists asking themselves, How do we unlock more information in order to make better decisions and deliver better care?
The field is called Patient Engagement. And while the industry has mutually agreed upon it’s critical importance, the question remains as to what it looks like.Continue reading…
As promised I’m going to be featuring more interesting companies I’m working with on THCB. Supportiv, which is launching today in beta (App store/Play) is a thoroughly modern answer to the problem of scaling peer support in mental health. It’s aimed in the space between the mediation apps like Headspace & Calm, and the online therapy services like AbleTo or Lantern. The target market is anyone feeling stress or wanting support in a quick and easy format–that’s basically everyone! Using the magic of NLP, those looking for support are steered into a chatroom where a trained moderator (usually a Masters student in psychology) making sure the experience is smooth. In its trials earlier this year of the 48,000 users, 96% reported improvement. The business model? It costs 15 cents a minute, or $4.50 for 30 mins (which is roughly the expected length of a session). There’s lots of science behind the idea that peer support works but to hear more Jessica DaMasssa interviewed the co-founders Pouria Mojabi & Helena Plater-Zyberk.
The New York City Economic Development Corporation andCatalyst @ Health 2.0 are thrilled to announce another round of Digital Health Marketplace matchmaking coming up on August 23rd! Since 2013, the Digital Health Marketplace has connected digital health “Sellers” offering technology solutions to a diverse range of healthcare “Buyers” or institutions looking for tech-enabled solutions and partnerships. At the center of the Digital Health Marketplace is the successful curation of needs and solutions that lead to the development of commercialization and the rapid adoption of new health technologies. If you are an early stage startup looking for relevant pilot/commercial partners or a healthcare organization interested in adopting leading technologies, apply for your opportunity to be matched with relevant partners for one-on-one, in-person sales meetings.
For those interested in applying, submit the matchmaking application form by July 20th, 2018 at 11:59p ET. At that time, the Digital Health Marketplace team will match Buyers and Sellers based on expressed technology needs and relevant solutions. Selected participants will join us for a series of ~15 minute sales meetings at the NYC Genome Center on August 23rd, 2018. With the ultimate goal of a mutually beneficial partnership, the event is structured to bring the most relevant pairs together based on prioritized initiatives, with the goal of facilitating follow up discussions and potential long-term partnerships.
There is no shortage of digital health solutions in today’s healthcare climate and, as a Buyer, it is often challenging to find the time and resources to sift through them all. On the Seller side, it can be difficult to connect with prestigious institutions where your technology can be most impactful; the August Digital Health Marketplace Matchmaking session aims to address both obstacles in one convenient and exciting event! We’ve seen great success over the years as the Digital Health Marketplace matchmaking events have facilitated over 900 connections between health tech Buyers and Sellers to date.
Calling all NYC health tech Buyers! Calling health tech Sellers around the world! Submit your matchmaking application! Again, the deadline to apply to the Matchmaking Event is July 20th, 2018 at 11:59p ET. The Matchmaking Event will be taking place at the New York Genome Center on August 23rd, 2018 8:30a-12:30p. If you have any questions about the matchmaking process, please email email@example.com. We hope to see you in August!
These days I’m spending a lot of time getting in depth with many tech companies. From time to time I’ll be asking those innovators to tell their story on THCB, and suggest what problems they are solving. First up is Meghan Conroy from Captureproof—Matthew Holt
Today’s doctors are communicating with their patients less than ever before, even as their days grow longer and busier. Physicians are pressured to see more patients in shorter encounters, while at the same time shouldering more of the administrative and documentation tasks associated with electronic medical records (EMR). The result is physicians who are spending more time looking at patients’ EMRs than looking at – or interacting with – the patients themselves.
Research bears this out. A recent RAND study shows that providers are frustrated by the high volume of clerical work, and the implementation of poorly designed technology, that hamper their efforts to deliver effective, efficient care. Primary care physicians spend nearly two hours on EMR tasks for every hour of direct patient care, with an average of six hours – more than half their workday – interacting with the EMR during and after clinic hours. The same study found that U.S. physicians’ clinical notes are, on average, four times as long as those in other countries.
No wonder the country is facing an epidemic of physician burnout. Doctors have become high paid data entry workers rather than caregivers. They are tethered to their screens, filling out countless forms and responding to multiple messages, eating into their face-to-face time with patients. With more patients to see, they have less time to prep for each encounter, leading to sub-optimal patient experiences and poorer outcomes.
Ironically, while technology helped create this problem, it also could provide the solution. Continue reading…
An Irish software expert who’d been helping companies sell on eBay walks into a room with a Slovenian inventor who’d built a world-class company in the “accelerator beam diagnostics market.” (Don’t ask.) What they share is not just foreign birth, but “immigration” to health care from other fields. Both have come to the MedCity Invest conference in Chicago seeking funding for start-ups focused on patient engagement. They’re not alone in their “immigrant” status, and their experience holds some important lessons.
Eamonn Costello, chief executive officer of patientMpower, works out of a rehabbed brick building in Dublin next to the famed Guinness brewery at St. James Gate. An electronic engineer who’s worked at companies like Tellabs, Costello became interested in healthcare in 2012 when his father was in and out of the hospital with pancreatic cancer. What struck him was the lack of any monitoring on how patients fared between doctor appointments or hospitalizations.
When in 2014 a friend working in healthcare approached him, they looked at building an app for different illnesses.Continue reading…
Another day, another $30m round in health tech. On Monday Qventus raised that from Bessemer Partners, with Mayfield, Norwest and NY Presbyterian kicking in too. That brings their total to $43m in so far–not bad for a 75 person company that is in the somewhat obscure space of using AI to improve hospital operations. Qventus sucks in data and delivers operational suggestions to front line managers. Of course given that somewhere between $1-1.5 trillion goes through America’s hospitals each year, there’s huge potential for saving money. And given that most hospitals are being paid fixed cost per case, anything that can be done to improve throughput and increase productivity drops to the bottom line and is thus likely to meet interested buyers. I talked to CEO Mudit Garg about the problem, his company’s solution and what they were going to do next.
This week was the very flash, very well marketed and apparently rather fun HLTH conference. As you might guess, given I’ve run a somewhat similar conference in a similar space for the past decade and this was the biggest market entrant in years, I was paying alot of attention, even though I wasn’t actually there. So I started writing a few tweets yesterday morning which basically became the equivalent of a blog post–so I made it one here!
Since the fuss about & success of#HLTH2018 I’ve been thinking a lot about the role of health tech conferences and in some ways@HLTHEVENT is a perfect metaphor for the health care system as a whole /1
Bear in mind I co-founded & still am co-chair of@health2con which when it started was regarded as revolutionary & different – so this is tinged with professional envy. Also bear in mind that I was at#ythlive this week so didn’t actually go to Vegas. So grains of salt /2
What@HLTHEVENT did was convince virtually every CEO who’s ever presented at@health2con@WHCCevents@hdpalooza etc over the past decade to come speak in Vegas at an unknown conference–albeit one that had a ton of money to burn, and great connections via VC@oakhcft /3
Given the crap I’ve received over the years from certain CEOs who only want to keynote@health2con & were instead asked to be on a panel, or worse were put in a break out, I’m amazed they pulled it off. But they did & it seems all were happy /4
OK, here’s the metaphor part. Once#HLTH2018 achieved essentially a “health tech co CEO monopoly” (for 4 days in one place), they were able to act like a health system that’s done the same thing with its providers & hospitals (cough cough@UPMC@SutterHealth et al) /5
Last week Avizia, where I’ve been the Chief Medical Officer since 2014, was acquired by American Well (AmWell). From my perspective, the merger made perfect sense. Avizia has been focused on chronically and acutely ill patients—those more directly attached to a hospital system. AmWell, on the other hand, has been the dominant solution for community-based care; it’s an online consultation service for folks who might otherwise have gone to an urgent care for problems like fever, headache, or a sore throat. Combining these entities provides a solution that spans the spectrum of care, which aligns with the needs of many healthcare systems. Issues related to patient access and satisfaction (think: less acute, community-based care) are top-of-mind for many administrators. However, with 80% of the dollars going to 20 % of the population, managing the continuum for the chronically ill (which is more in line with the mission of Avizia) is imperative to provide better care at a lower cost.
The merger also marks a predictable milestone in the common transition pattern for big ideas (internet, aeronautics, GPS, etc.)—from the military, to academia, to scalable business.
Telemedicine started as a military-run effort. NASA, concerned that astronaut healthcare issues would cause mission failures, was the first organization to devote significant funding to telemedicine research. Early ATA meetings were opened with military-sponsored presentations featuring the Telemedicine & Advanced Technology Research Center, a branch of the Army.
Next came academia. Millions of dollars in grant money were offered, but academics were no longer focused on the health of astronauts. Instead, the goal was providing care at a distance—to the citizens of Rural America. Many early leaders of the ATA came from the universities that built and deployed this technology.
As you may have noticed, we are picking up the focus on new tech companies here on THCB. Much of this is happening as I have a little more time to examine and work with startups as I’m no longer running the Health 2.0 conference day to day. Some of it comes from our new partnership with Jessica DaMassa and her WTF.Health series. But don’t worry, we are continuing to be the place to find great opinion pieces about the health care system as a home (This is an “add” not an “instead”)
Today I have an interview about an interesting new company I’m getting to know called Bluestream Health which is essentially a second generation telehealth video platform. Brian Yarnell is the President and I spoke with him about his company, and what makes their technology different. Brian will be at the ATA conference net week (while I’ll be at Dev4Health!) — Matthew Holt