Today on Health in 2 Point 00, Jess and I cover all the big comings and goings of digital health. But first, what happened with Atul Gawande departing Haven Health as CEO? Moving to a whopping 7 deals in this episode, Jess asks me about Wellth raising $10 million in an A round using behavioral economics to drive medication adherence; Vynca, an end-of-life startup, raising $10.3 million, Carbon Health getting a $26 million add-on investment expanding its telehealth offerings, Nanit raising $21 million for its machine learning baby monitor, Stellar Health raising $10 million in an A round to improve physician incentives to address gaps in care, Lucid Lane raising $4 million in seed funding for its substance use disorder program, and Limbix raising $9 million for its digital therapeutic for teens with depression. —Matthew Holt
By STEPHANIE KUKU, MD and HUGH HARVEY, MBBS
The ability to predict in healthcare is the utopia promised by every artificial intelligence for healthcare built, funded and tested in the last decade. Yet very few doctors, technologists, or investors would have imagined they would live to witness a pandemic of the scale we are currently experiencing. We are still getting our heads round the lives lost, the lives of the frontline workers at risk, the disruption and self-isolation, the less fortunate who will suffer the most, the companies in survival mode, and a battered global economy. It is a good time to reflect on what the future of health will look like after we recover. We need to get better at acting on the predictions that truly matter. In a booming health-tech market saturated with promises of predictions and diagnostic insights, it’s a shame we didn’t listen to the scientists who predicted this violent wave of viral disruption.
The future of healthcare investing needs to change
With the first case of the virus last December, everything changed, and there is so much more change to come, in healthcare, technology and in the way we all work. Like with policy and public health, the majority of players on the healthcare stage remain so far removed from the frontline. The perceived ‘market’ rarely truly represents the real one, and true intelligence is lacking the collective intelligence that should prioritise the needs of the healthcare systems and the populations they serve. Our values, motives and how we create the pitch-perfect melting pot of skills, expertise, and mindset needs readjustment. Somewhere between evidence- based decision making and patience; clinical impact aligned with economic impact should be the goal. More focus is needed on validation and less on valuations that are largely built on assumptions and unproven hypotheses. Given the amount of investment that has drowned the healthtech/biotech domains in the last decade, we must praise the advancements that have been made. We must also examine the failures, the wasted resources, and whether technology really is moving healthcare forward at a pace that matches the investment.Continue reading…
Today on Health in 2 Point 00, we have a digital audience! Eugene Borukhovich and Jim Joyce join us as guests on Episode 121. Well actually we were invited on their show A Shot Of Digital Health, and we decided to launch a takeover! Jess asks me about a lot of movement in the telehealth space with Medici raising $24 million in a Series B, Tomorrow Health launching with a $7.5M seed round for in-home care, Decoded Health launching an AI telehealth app and IDC Telemed buying Ilum. Also HIMSS launches a new Digital Health Indicator to help hospitals judge their digital health readiness — and don’t get Jess started on their new definition of digital health. In fact everyone piled in on that!—Matthew Holt
On Episode 120 of Health in 2 Point 00, Jess asks me about health data sharing company Particle Health raising $12 million in an A round, AliveCor and OMRON partnering in a remote monitoring play for combined EKG and blood pressure monitoring, and Compass Pathways scoring $80 million in a B round for psilocybin therapy for treatment-resistant depression. Also, Optum is reportedly acquiring AbleTo for $470 million which provides behavioral telehealth — looks like they’re slowly putting all the pieces together to become a big virtual Kaiser. —Matthew Holt
By CATALYST @ HEALTH 2.0
GuideWell has launched the COVID-19 Health Innovation Collaborative to identify and support solutions that can immediately increase the scope and scale of resources aimed at reducing the complex stress factors COVID-19 is bringing to bear on the U.S. health system.
There will be five categories of focus under this collaborative, and proposed solutions must directly address at least one of these categories:
- Home-based self-testing solutions for the COVID-19 virus
- Virtual, in-home care solutions for at-risk populations that have limited access to health care services
- Solutions that reduce risk for health care providers in clinical settings, including approaches for increasing protection of clinical staff
- Solutions focused on reducing social isolation due to COVID-19 diagnosis or social distancing
- Solutions for delivering food and urgently needed supplies to at-risk populations and households with COVID-19 exposure or symptoms
The COVID-19 Collaborative’s overarching objective is to source a diverse portfolio of innovative companies that collectively have the potential to respond to the pandemic in the above categories. For each category, a cohort of 3-5 companies will be selected to work together to create a connected, high impact approach to addressing the program category.Continue reading…
Today, we’re back with a serious episode of Health in 2 Point 00. On Episode 119, Jess asks me about RDMD raising $14 million; this is a company which groups patients with rare diseases together to gather real-world data. Maternity-focused health IT company Dorsata raises $5.2 million, and this is basically an EMR prenatal tracker. Next, XRHealth raises $7 million for its virtual reality telehealth platform. OneDrop acquires the assets & IP of Sano Intelligence’s noninvasive CGM patch, and Akili rolls out its video game for kids with ADHD after the FDA relaxed its regulation of digital therapeutics for mental health. —Matthew Holt
Today on Health in 2 Point 00, Jess and I talk about HCA now that the real numbers have come out. On Episode 118, Jess asks me about Aledade raising $64 million. Founded by former ONC director Farzad Mostashari, they set up ACOs for independent physician practices and have been doing a lot around COVID-19. Medopad has rebranded as Huma and acquired Biobeats and Tarilian Laser Technologies (TLT); they’ve been doing remote monitoring and have been around for a while. Novartis acquires Amblyotech, a lazy eye digital therapeutic. Finally Yes Health gets $6 million – yet another “we’ll put you on a diet and have coaches bully you” platform. —Matthew Holt
By JESSICA DaMASSA, WTF HEALTH
“I never anticipated — and no one did — the level of uptake and the level of scale.”
It says a lot that Joe DeVivo, CEO of Intouch Health, who’s worked with hospitals and health systems on standing up B2B-focused telehealth programs for years (and whose company was acquired by Teladoc Health for $600-million dollars in January) is surprised about the uptake of virtual care during the COVID-19 pandemic.
“Historically, I look at virtual care as a bell curve,” says Joe. “On one side of that small tail of the bell curve are the virtual care companies. Teladoc dominates that space for D2C. There’s millions of consultations a year, and we’re seeing a subset of that. On the opposite side of the bell curve is high-acuity, and what InTouch has been doing for critical care.”
“This crisis, and the changes in reimbursement, have opened up the middle of that bell curve. The core, everyday transaction of healthcare is now being impacted by virtual care. And the big question that everyone has is, “is this going to stick? Is this a crisis management tool and we’re going to go back to the ways of the past, or is that genie out of the bottle?”
We put Joe on-the-spot with his own question, find out what he thinks it will take to enable the permanent shift to virtual care at-scale, and dig in on how demand for telehealth within hospitals has changed as a result of the pandemic, where its not only being used to expand access to specialists, but has also been adapted into a PPE-hack to help frontline hospital workers distance themselves from infected patients.
And what of working with Teladoc? While waiting for the paperwork to finalize (all on-schedule for the end of Q2 as originally announced), the two have organized a co-selling agreement to be able to “hit the market fast” and bring their “hospital-to-home” end-to-end virtual care offering to those who need it now.
By CATALYST @ HEALTH 2.0
Due to the rapid escalation of the COVID-19 pandemic, America’s health care system is at immediate risk of reaching a level of over-capacity. While most hospitals have emergency plans for pandemics, the COVID-19 pandemic has quickly highlighted critical gaps in the nation’s health care crisis-management infrastructure.
To assist health care workers on the frontlines, GuideWell has launched the COVID-19 Health Innovation Collaborative. The initiative seeks to connect diverse innovative health technology companies across the U.S., in response to the coronavirus. This Collaborative is focused on addressing critical risk areas facing health care professionals and staff, homebound COVID-19 patients/families, and the larger social issues arising from the social distancing mandates across the nation.Continue reading…
Today on Health in 2 Point 00, Jess and I run through a lot of telehealth investments including Doctor Anywhere raising $27 million, 98point6 raising $43 million, Tyto Care raising $50 million, SilverCloud Health raising $16 million, SteadyMD raising $6 million, and Aktiia raising $6 million. In addition, there’s a company called Air Doctor which matches people when they’re traveling to doctors on the ground which raised $7.8 million despite the inauspicious timing. On the flip side, there have been a slew of layoffs in the space, and Jess and I give our $.02 on Rock Health’s Q1 fundraising report which was just released. Don’t miss our tag-team interview of Livongo’s Glen Tullman, and check out these episodes in podcast form on Spotify and iTunes. —Matthew Holt