Today on Episode 58 of Health in 2 Point 00, Jess and I have more to share from Exponential Medicine, but this time we’re at the Health Innovation Lab checking out all of the startups. In this episode, Jess and I talk to Meghan Conroy from CaptureProof about decoupling medical care from time and location, Care Angel‘s Wolf Shlagman about the world’s first AI and voice powered virtual nursing assistant, and highlight Humm’s brain band which improves working memory, concentration, and visual attention. We leave you with some parting words from Godfrey Nazareth: “Let’s set the world on fire. Let’s change the world, with love.” -Matthew Holt
“I don’t know that what they’re doing is going to be as transformative as maybe the potential of it is – and it’s going to take time. I don’t know that they’re going to ‘all-of-a-sudden’ leap frog over all the things that health plans have been doing for decades. I think they’re going to learn that this is really complicated stuff…”
Health plan innovation got a makeover this year. What used to look like value-based care models and telehealth visits has transformed. Health plan innovation is sexier – with big-dollar M&A deals like CVS-Aetna and Cigna-ExpressScripts looking to flatten the industry. Meanwhile, brand name collaborations like Amazon-Berkshire Hathaway-JP Morgan may prove that payment model innovation is unexpectedly ‘label-conscious.’
So, how are health plans dealing with this startling new look? And what should health tech startups who want their innovation investment dollars do now??
On Episode 57 of Health in 2 Point 00, Jess and I report from Exponential Medicine. In this episode, Jess and I talk about digital surgery and how Shafi Ahmed and Stefano Bini are transforming surgical training. She also asks me about my favorite session, one by Anita Ravi on health care for those who have been sex trafficked. Other highlights include ePatient Dave’s talk about access to data for patients and letting patients help, and Leerom Segal’s overview of why voice matters- Matthew Holt
“Most large healthcare companies will have numerous teams – innovation teams, maybe a venture fund, business units – all doing different things,” says Sara Holoubek, CEO of Luminary Labs, a consultancy known in healthcare for its expertise staging open innovation challenges. “How much more powerful would it be if everyone agreed on a common investment thesis? ‘We know our business model is changing and, therefore, where is our big bet?’”
The ‘big bet’ is not always easy for stakeholders in healthcare companies to agree on. Hence, Sara’s advocacy for open innovation, a methodology built for collaboration both internal and external to the organization. She’s been masterminding challenges, hackathons, participatory design sessions, and the like in healthcare for years, helping pharma companies, health plans, health systems and government organizations gain access to new ideas from external problem solvers and startups.
Open innovation not only brings much-needed agility to the way these big companies develop products, build partnerships, or pivot into new markets, but it also helps clarify which business problems the organization is actually trying to solve.
Large organization or small, how do you know when it’s time to take your innovation efforts outside? How do you make sure that your open innovation attempt is truly a ‘challenge’ and not just a splashy brainstorming session or hackathon to nothing?
A few weeks back, Luminary Labs published ‘The State of Open Innovation Report’ in effort to help benchmark the practice and build its business case as a worthwhile methodology for business innovation. Seeds of the report can be found in this interview. Listen in as Sara defines the practice and shares her tips and best practices.
On Episode 56 of Health in 2 Point 00, Jess and I report from Livongo’s new office in San Francisco. In this episode, Jess asks me about Carrot Health’s $25 million raise for their digital smoking cessation program and 98point6’s $50 million raise for their on-demand primary care app. We also have our special guest star Dr. Jennifer Schneider here to tell us about how Livongo is working to Silence Noisy Healthcare with Applied Health Signals- Matthew Holt
We missed our chance to do a Happy Hour Health in 2 Point 00 at Connected Health in Boston (but let’s be honest, those are usually not the most cogent pieces of information in health and technology). Join Jessica DaMassa as she gets my take on the conference starting with #S4PM’s event, where I met some incredible people, including Patty Brennan and Doug Lindsey, who spoke about their experiences with health care knowledge (deploying it and creating it!). Danny Sands and e-Patient Dave even had quite the musical performance there, singing about e-Patient blues. Susannah Fox, Don Berwick, Don Norman were at Connected Health 18, presenting their new initiative, L.A.U.N.C.H. I even interviewed Jesse Ehrenfeld, the chair elect of AMA, and his spoke to him about the digital health play book that the AMA just released. A company to take note of that wasn’t at #CHC is Devoted Health, who just raised $300m. Devoted is looking at building a better Medicare Advantage “payvider” for seniors. If you are interested in Guild Serendipity’s conference which empowers and engages female CEOs and Cofounders, come join us in San Francisco October 26-27, SMACK.health is sponsoring the women’s health houses – Matthew Holt
“That’s why we’re investing so heavily in the innovation space…we look at physicians and how they’re spending their days. The amount of time they’re spending clicking away on their EHRs, wasting time – we think we can help fix it. It’s been a lot of years of other people not fixing it. We think it’s time for physicians to actually be in the rooms helping to make those solutions.” — Dr. Jack Resneck, Chairman of the Board, AMA
Sounds to me like physicians are a little disappointed in health tech. Don’t get me wrong. This is not another ‘digital health snake oil’ controversy. (Although we do go there…)
Instead, my main takeaway from this conversation with Dr. Jack Resneck, Chairman of the Board for the AMA, is that physicians don’t exactly feel included or engaged in the tech revolution happening in healthcare.
In short, while docs are excited about innovation, it seems they don’t feel heard. So much so that the AMA has created its own Silicon Valley-based ‘business formation and commercialization enterprise’ called Health2047 to prioritize solution development for what physicians have deemed the biggest systemic issues in healthcare. What’s out there is just missing the mark and, in more instances than not, says Dr. Resneck, the practicing physician’s perspective on what problems need to be solved in the first place.
I open this interview by asking what digital health entrepreneurs and health tech startups can do to work more effectively with physicians. The answer, it seems, might be as simple as ‘just ask your doctor.’
Where is Matthew Holt reporting from today? He is at the Novartis Biome Launch Event! And that’s not all, we have some special guest stars for you: Unity Stoakes from StartUpHealth and Zoya Khan from THCB & SMACK.health! Join Jessica Da Massa, as she asks Matthew about what the Novartis’s Biome Event is, updates from StartUp Health (they have a print magazine now!), and talks about JP Morgan Week coming up in January!
In honor of World Mental Health Day, I’m sharing the story of PeaceLove Studios and its founder & artist-in-chief, Jeff Sparr. Jeff‘s built an expressive arts program to help millions cope with mental health disorders after he found painting to help with his OCD.
Healthcare needs a place for non-pharmaceutical, non-digital modes of therapy, and PeaceLove Studios is focused on ramping up awareness about the therapeutic benefits of expressive arts when it comes to mental wellness. Part of the challenge, however, is just starting the conversation and bringing visibility to mental health disorders in the first place. Jeff is hoping to inspire a movement. Tune in to find out how.
Although egg freezing was only approved for general use six years ago, the business is fertile ground for disruption according to Jen Lannon, co-founder of website Freeze.Health.
Jen and her co-founder, Sidonia Swarm, started the site when, through their own consumer research, they found that egg freezing could cost anywhere from $4,000 to $18,000 — at clinics in the same market!
Now that ‘social egg freezing’ is a thing among Millennial women who want to delay motherhood, Freeze.Health hopes to become the go-to resource for price shopping, medical information on the process, and details on the patient experience. Believe it or not, but women rallying around #NoBabiesNow don’t exactly feel like they belong at fertility clinics with so many baby pictures on the walls.