European health startups and health tech investors are turning their attention to a new market: Europe. Where the US healthcare system once seemed the only path to mass adoption, now the European healthcare market, with its proliferation of Big Pharma and med device companies, has opened itself up to the digital health community — offering EU startups the chance to grow and mature closer to home. Watching the space closely is on of Europe’s first, loudest, and most ardent supporters of digital health, Roberto Ascione, CEO of Healthware International. How does he see the market taking shape? What’s next for European healthcare companies in terms of scaling and integrating new revenue streams based on the digital transformation of healthcare? Listen in to find out.
Filmed at the Frontiers Health Conference in Berlin, Germany, November 2018.
Jessica DaMassa is the host of the WTF Health show & stars in Health in 2 Point 00 with Matthew Holt. Get a glimpse of the future of healthcare by meeting the people who are going to change it. Find more WTF Health interviews here or check out www.wtf.health.
Today on Health in 2 Point 00, I’m back (despite Jess’s attempt to replace me). In Episode 82, Jess asks me about Talkspace’s $50 million raise, Heal getting flack for adding telehealth to their house call service, and Apple acquiring Tueo Health last year—and we’re just now hearing about it. Jess also gets riled up by Pokemon Sleep and Pillo’s $11 million raise. —Matthew Holt
With the application deadline for Bayer’s G4A Partnerships program coming up on Friday, I thought I’d throw out a little inspiration to would-be applicants by featuring an interview I did with one of last year’s program participants at the grand-finale Launch Event.
Not only was this a great party, but a microcosm of the G4A program experience itself: a way to meet Bayer execs en-masse, an opportunity to sell directly to key decision-makers across Bayer’s various global business units, and a chance to feed off the energy of like-minded innovators eager to see ‘big health care’ change for the better.
While the G4A program itself has changed a bit this year to be more streamlined and to allow for bespoke deal-making that may or may not involve giving up equity (my favorite new feature), startups questioning whether or not they have what it takes should take a look at some alums.
There’s a playlist with nearly two dozen interviews waiting for you here if you’re REALLY up for some procrastinating, or you can click through and just check out my chat with Joe Curcio, CEO of KinAptic. A healthtech startup taking wearables to the bleeding edge, Joe shows us a mock-up of the KinAptic ‘smart shirt’ which features their real innovation: printed ink electronics that look and feel like screenprinting ink, but work bi-directionally to both collect data from the body AND apply signals back to it. Is it AI-enabled? Did you have to ask? Listen in for a mindblowing chat about how this tech can change diagnostic analysis and treatment and completely redefine our current limitations when it comes to healthcare wearables.Once you’re inspired, don’t forget to head over to www.g4a.health and fill out your own application for this year’s partnership program.
Jessica DaMassa is the host of the WTF Health show & stars in Health in 2 Point 00 with Matthew Holt
Nearly a decade has passed since Healthy People 2020positioned social determinants of health (SDoH) at the forefront of healthcare reform. As defined by the report, SDoH are the “conditions in the environment in which people are born, live, learn, work, play, worship, and age, that affect a wide range of health, functioning, and quality of life outcomes.” Examples of social determinants include:
Resources to meet daily needs (e.g., safe housing and local food markets)
Educational, economic, and job opportunities
Community-based resources in support of community living and opportunities for recreational and leisure-time activities
The ability to influence
social determinants largely falls outside of the health care system’s reach.
Therefore, a key to address opportunities for health involves collaboration between
health care and different industries such as education, housing, and
transportation. Both the public and private sectors have made significant
efforts to bridge the gap between physical, mental, and social care by
experimenting with non-traditional partnerships.
The Center for Disease Control and Prevention (CDC) has spearheaded multiple programs with government agencies and community partners to achieve the goals outlined in Healthy People 2020. One of the most notable successes is the Childhood Lead Poisoning Prevention Program, an initiative by the CDC with the Department of Housing & Urban Development and the U.S. Environmental Protection Agency. Through housing rehabilitation, enforcement of housing and health codes, and partnerships with healthcare experts, the program helped Healthy People 2020 exceed their target of reducing blood lead level in children.
Other programs such as the “National Program to Eliminate Diabetes Related Disparities in Vulnerable Populations,” leveraged community partners and resources to increase food security, health literacy, and physical spaces for active living. In one of their projects, the program partnered with community health workers (promotoras) who spoke Spanish to engage with Hispanic/Latino communities where participation to Diabetes Self-Management Education (DSME) was low. The community health workers provided linguistically and culturally-sensitive materials that effectively increased participation in DSME among the targeted population. The outcomes from such initiatives have inspired more health and community organizations to work together to reduce health disparities.
In this two-part series, we examine several common misconceptions
made by health tech start-up companies in working with Health Systems and
offers advice on how to recognize and address each. From approaching systems
with a solution-first mentality to not understanding the context in which
health systems work, we look to provide constructive criticisms meant to
support more effective partnerships between health systems and digital tech
and Reactions from the Industry
Understand the Current System Environment We Are Working In: In some cases,
technology solutions are barricading healthcare systems inside. In other
cases, they are allowing us to seamlessly interact with other systems. Typically, large healthcare systems have a
combination of both. For outside solutions to be effective,
start-ups need to be intimately familiar with the existing (and on-the-horizon)
systems that healthcare organizations are using or contemplating. Rarely
will a solution not have to interact with existing software solutions – and
this goes well beyond just the EMR.
Have an Integration Plan: A
stand-alone solution, which doesn’t tie to one or more of the healthcare
institutions key systems of record (SoR) or systems of engagement (SoE) is a
useless solution. Your solution should be able to stand alone in the first few
weeks, as users begin to use it and get familiar with its capabilities.
However, as soon as value is realized
(not necessarily achieved), it’s crucial that your solution support either SMART on FHIR, FHIR,
HL7v2.x, or all of the above. If you don’t have a believable integration story
fully worked out, you’re not ready to launch into the health system market. Go
back and do your homework.
Having a Clinician Is Nice, But Not Enough: The physician, nurse, or other clinician on your team helps credibility but we also understand the incentives associated with selling solutions, and this takes away from the altruism you think we will blindly swallow. And they are rarely businessmen or women who understand both the complexities of solving a problem that isn’t theirs and starting, let alone, running a company. Pair an MD with an MBA? Now we’re talking.
Start-ups are an increasingly important “node” within the
healthcare ecosystem. They are challenging status quo concepts that have
long been ingrained in the healthcare system, like questioning the value of
traditional EMR systems, or shifting the power of information to patients, or
breaking down cost and quality transparency barriers. They may be the future of
the industry, but startups have a long way to go to truly transform the
system. The reasons are many, from an incredibly convoluted and bureaucratic
review process and rigid risk-controlling regulations and policies, to the
large-scale organizational inertia most of our healthcare systems have.
And while all of these hurdles can and will be overcome if we work
together, there are still several lessons each “node” in the ecosystem can learn to more effectively work with each other.
This article is directed at the emerging digital solutions trying
resiliently to help transform this stubborn industry. It provides some critical
lessons in dealing with healthcare systems and is accompanied by reactions from
a digital solutions expert with serial digital health entrepreneurship
experience. We hope to provide perspective from two people living and
breathing, and surviving, from both sides of the
equation every day.
and Reactions from the Industry
Healthcare Startups Must Understand how Provider
Systems Operate: Most
health systems are increasingly becoming rightfully skeptical about new
solutions because they feel the solutions don’t understand the environment of
their system. To help overcome the challenges of introducing your innovation into a complex business and
clinical environment, startups must understand how health systems operate to
include how they make decisions, contract and evaluate solutions.
Recognize that Decisions are Consensus-driven and Permissions-based: Unlike
other industries, where “shadow IT” is rampant and there can be one or two “key
decision makers,” in health systems you’re not likely to get very far without
figuring out how to build consensus among an array of influencers and then
figuring out how to get permissions from a group of key decision makers. You
should seek a “Sherpa” that understands enough about your solution to champion
the idea of change – which is really what you’re seeking when you’re
selling a new solution (the solution is just the means to accomplish the change,
it’s the change that’s hard). The first thing to focus on is to identify the
group of decision makers and how you convince them that the status quo should
be abandoned in favor of any change –
then, once you know how to convince them of some
change you’ll work with the group to get the right permissions to work on the
change management process – which will then influence a purchase of your
Today on Health in 2 Point 00, we have another takeover! Dr. Jennifer Schneider, president of Livongo, is here to give us her take on health tech news. On Episode 81, Jess asks Jenny about Daye, a startup developing cramp-fighting CBD tampons, which just raised $5.5 million, and LetsGetChecked, which raised $30 million for at-home health testing. Jess also asks about Jenny’s new book, Decoding Health Signals, which offers a blueprint for building a consumer-focused healthcare company.
Innovation, in collaboration with Springboard Enterprises, is hosting an
exciting new 10-week Scale Up Accelerator program for women-founded health tech
companies (or those with at least one female key
executive) located in the Southeastern US (FL, GA,
AL, MS, LA, NC, SC, KY, TN). Because both women-led startups and the
South East are lagging in access and closure of venture capital, this unique
cohort is dedicated to accelerating the growth and financing of companies
within these demographics.
The program will run from Jun 26th – Aug 30th and
includes a kickoff boot camp (June 26th – 28th) at the
GuideWell Innovation Center in Orlando, FL. Most of the program will be conducted virtually other than the 3-day kickoff boot
camp and a innovator/investor matchmaking showcase at the end of August. During
weeks 2-9, the cohort companies will be matched with various advisors and are
expected to connect with advisors every week. In addition, each week will
incorporate a virtual 2-hour workshop/collaboration session led by subject
matter experts on key challenge topics faced by most early-stage health tech
criteria for the cohort:
Company must be a health, wellness
or medical device technology company that addresses critical gaps in providing
affordable, accessible health care or holistic health/wellness solutions for
diverse populations and communities in the United States
Life sciences companies are NOT
eligible for this cohort
Women founders or key executives
must own a minimum of 25% of the company’s equity
The company must be headquartered
and have a minimum of 50% of its staff located in the Southeastern US (FL, GA,
AL, MS, LA, NC, SC, TN, KY)
Can show proof of “Scale Up”
traction through revenues, capital raised, customer acquisition, and product
development (see below)
Addressing a huge market
opportunity in the U.S. healthcare, holistic health or wellness industry
Today, THCB is spotlighting Lygeia Ricciardi. As the former Director of Consumer e-Health at the ONC, Lygeia tells us about patient access to health data and the ONC and CMS’s new rules on interoperability. But now, she’s the CTO of Carium Health, going from a “consumer activist consultant-type” to actually working with a startup. Carium provides a platform for consumer empowerment and engagement, helping to guide individuals through their health care and wellness journeys.
Today on Health in 2 Point 00, where am I?! In Episode 80, Bayer’s Eugene Borukhovich is here to answer Jess’s questions—but don’t worry, he’s channeling his inner “Matthew”. Get Eugene’s take on Jawbone’s $65 million raise after its relaunch and find out if he disagrees with me about Noom’s recent $60 million raise. Jess also picks Eugene’s brain about what G4A is looking for in their challenge applications, so don’t miss out — Matthew Holt
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