Apparently, podcasts are new, all the rage and minting billionaires every day! So, of course, THCB had to have its own podcast, and here it is: HardCore Health
Now I’ve been doing “podcasts” (otherwise known as audio or video interviews) on THCB since before people actually had iPods (remember those, kids?). But apparently these days any punter can do an interview, call it a podcast and shove it up on Spotify. Hardcore Health is going to be a little bit different…
Hardcore Health will feature multiple guests, topics, and interludes brought to you by many co-hosts starting off with Jessica DaMassa and me. We’ll embed some (familiar) tidbits into the show including: Health in 2 Point 00, THCB Spotlights, and the WTF Health Show as well as some newer segments, including banter sessions between guests & rant sessions from health care experts. This first episode features Brian Kalis, Accenture’s “post” Digital Health expert & Niko Skievaski from Redox, and a little more.
I hope you enjoy our first episode below!
Matthew Holt is the founder and publisher of The Health Care Blog and still writes regularly for the site.
Today on Health in 2 Point 00, Jess is in Italy…and has me up far too early in the morning for this episode. On Episode 79, Jess asks me for an update on uBiome after their raid by the FBI. We also talk about nutrition startup Noom’s $58 million raise and clinician house-call platform DispatchHealth’s $33 million raise. In other news, Kaiser Permanente is launching a network to integrate the social determinants of health with their EHR. –Matthew Holt
Today on THCB Spotlight, Jess sits down with Max Kerz, the Chief Technologist for Bayer’s G4A Partnerships Program. Max tells us all about how the program has changed since last year, and gives some tips and tricks for applying. Watch their conversation below for all the details!
Today, we’ve got another episode of Health in 2 Point 00—airport edition. On Episode 78, Jess is spending the last few moments before her vacation interviewing me from the airport. She asks me about lots of big raises: Redox raised $33 million for their interoperability platform; EverlyWell, which offers direct-to-consumer lab testing, raised $50 million, and Ro raised another $85 million just a year after raising $88 million. In other news, SureScripts is getting sued by the FDIC for monopolizing the e-prescriptions market and the FBI just raided uBiome for double-billing insurers. —Matthew Holt
Today on Health in 2 Point 00, Jess and I are in New Orleans at the ATA Annual Conference. In this episode, Jess asks me about my takeaways from the conference, Cityblock’s $65 million raise, and Microsoft HealthVault shutting down. In terms of virtual care, it seems that there’s been low adoption of telehealth visits—but things are on the cusp, with lots of companies doing interesting things and with CMS expanding Medicare Advantage coverage of telehealth services. —Matthew Holt
Facebook is releasing an EMR? Jim Cramer is going to work at Epic? April Fools! On today’s actual Health in 2 Point 00 Episode 76, Jess asks me about the follow up from Health Datapalooza, which ended with the government saying they will be changing the world and that everyone should join them in their initiative to innovate digital health. AHRQ & CMMI ran digital health challenges, and CMMI will be doing an AI challenge for $1 million for startups in the space. Speaking of the government, Seema Verma was in the news for her PR spending and as I said “Evil Twin Seema” and “Good Seema” are joined at the hip and they should “not screw around on the PR front”. In other news, MountSinai launched a digital health institute to develop advances in artificial intelligence and other emerging health care technologies spaces. Clover Health laid off a ton of people, and according to me, they are starting to get serious because running a Medicare Advantage plan is hard work — Matthew Holt
Bayer’s G4A team launched their 2019 program today, so here’s a little help for anyone curious about the state of pharma startup investment and what it takes to land a deal there these days.
I had the chance to pick the brain of Bayer’s
Global Head of Digital Health, Eugene Borukhovich, during JP Morgan Healthcare
Week and pulled out these three gloriously thought-provoking soundbites from
our conversation to give you some insight as to the mindset over at big Bayer.
“Digital therapeutics are shining light on the convoluted, complex mess of digital health”
If you’ve wondered what lies ‘beyond the pill’
for Big Pharma, wonder no more. It seems the answer is digital therapeutics.
Eugene predicts that “within the next couple of years, ‘digital health’ as a
term will disappear,” and calls out organizations like the Digital Therapeutics
Alliance for their efforts to set standards around evidence-base and behavior
modification so regulators and strategic investors alike can properly evaluate
claims made by health tech startups. As time goes on, it looks like efforts to
‘pharma-lize’ the ways startups take their solutions to market will increase,
pushing them into more traditional go-to-market pathways that have familiar and
comforting guidelines in place. As Eugene says, “Ultimately, what we say in my
team, is that it’s about health in a digital world today.” Sounds like that’s
true for both the products he’s seeking AND the way pharma is looking to bring
them to market…
“These multi-hundred million [dollar] press releases are
great to a certain extent, but what happened to the start-up style mentality?”
When asked about Big Tech getting into Big
Health, in the end, it seems, Eugene shakes out to be in favor of the ‘Little
Guy’ – or, at least, in their approach. Don’t miss his comments about
“cockiness in our healthcare industry” and how Big Tech is working around that
by partnering up, but the salient point for startups is that big companies still
seem very much interested in buddying with smaller businesses. It’s for all the
same reasons as before: agility, the ability to iterate quickly, and the
opportunity to do so within reasonable budgets. Eugene offered this telling
rhetorical musing: “Just because it’s a combination of two big giants…do you
need to do $500 million? Or, do you give some…traction, milestone, [etc.]…to
prove it, just like a start-up would?”
“In large organizations, transformation equals time, and…we
don’t have time.”
“To me,” says Eugene, “the biggest challenge is
actually landing these inside the organization.” He’s talking about novel
health solutions – digital therapeutics or otherwise – after learning from
previous G4A cycles. Culture, precedent, and years of market success loom large
in big healthcare companies across the ecosystem, which is one reason why innovation
inside them is so challenging. Eugene says he’s “a big believer in a small team
– even in large organizations – to take something by the cojones, and get shit
done, and move it forward, and push the envelope from the bureaucracy and the
process.” There’s a sense of urgency to ‘innovate or die’ in the face of the
growing competition in the healthcare industry. “Back to this earlier
conversation around whether it’s tech giants or other companies,” he adds, “it
is a race to the speed of the organization. How quickly we learn and how
quickly we make the decisions. Bottom line, that’s it.”
There’s plenty more great insights and trend
predictions where these came from, plus the juicy details behind how G4A itself
has pivoted this year. Check out the full interview now.
Today on Health in 2 Point 00, Jess and I are at 10th annual Health Datapalooza in Washington D.C.! Jess talks to me about Xealth’s $11 million round to develop out its company, and Change Healthcare is applying for a $100 million IPO. The big takeaways from Health Datapalooza are that many people and companies have integrated data into their systems, but they haven’t been able to gain many actionable insights from it. Also, if you haven’t heard of the complaint Andrea Downing, Fred Trotter, and David Harlow wrote to the FTC concerning the privacy and data that can be downloaded from Facebook’s groups, you better check it out. It details out the concern that Facebook is not protecting the data of patients as anyone can download sensitive data from the groups and use it — Matthew Holt
According to Toby Cosgrove, 2019 is “THE YEAR of telehealth.” The former CEO of Cleveland Clinic, who is currently an executive advisor to Google Cloud’s healthcare and life sciences team, proclaimed it as such to CNBC, saying that this year is “THE YEAR” telehealth becomes ubiquitous.
That’s a pretty bold statement – particularly as utilization rates for virtual visits continue to fall short of expectations – so we double-checked this prognostication with Teladoc’s CEO, Jason Gorevic.
Does he think 2019 is going to be telehealth’s
Well, although he’d rather call the space ‘virtual
care’ instead of ‘telehealth’ (maybe this will be the difference maker?), he
confesses he’s pretty much on board with Cosgrove’s assertion that more
consumers than ever will visit virtual exam rooms this year.
How does 2019 become “THE YEAR” of virtual care?
Is this going to be an industry-wide boon, or is Teladoc just banking on its
partnership with CVS and their new family member, Aetna?
Tune in to hear Jason get real about what’s impacting utilization rates, how things are going to change this year, AND whether or not he’s worried about competing with Apple, Google, and Amazon for screen time. (Hint: He’s not.)
Today on Health in 2 Point 00, Jess and I are standing on a roof answering health tech questions from the Digital Health Commercialization Panel event in San Francisco. In this episode, Jess asks me about all the money that is being raised or spent in the health tech worlds of Europe and the US. DoctoLib, a company that is like ZocDoc in the US, raised 150 million Euro, which is probably the largest raise for a European company involved in health tech. Meanwhile, in the US, Teledoc also stretches its way into Europe, buying MédecinDirect, which is a telehealth company in France. We also see health tech companies in the employer health space taking home large piles of cash. Cleo, which is a platform entirely run by women serving women’s’ health postpartum, raises 27 million. UniteUs, which is a company focused on improving people’s social determinants of health, raises 30 million, but I still worry about this type of initiative and want to see if there is a market for this type of care and if hospitals are willing to pay for it–Matthew Holt