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Category: Start-Ups

Health in 2 Point 00, Episode 86 | Lightning Round!

Today on Health in 2 Point 00, Jess and I are back from Europe and there is a LOT going on in health tech right now. In Episode 86, Jess asks me about United Health’s big moves, between acquiring PatientsLikeMe and their acquisition of DaVita Medical going through; integrated mental health company Quartet Health raising $60 million; Xealth closing a $14 million round (maybe now they’ll make Epic relevant); Collective Health’s $205 million raise led by SoftBank,; Vida’s $30 million round led by Teladoc (who knows why Teladoc didn’t just acquire Vida); European telehealth company Zava raising $32 million; and finally, Phreesia going IPO (wasn’t Livongo the one to watch?). —Matthew Holt

THCB Spotlight | Chris Gervais, CTO of Kyruus

Today on THCB Spotlight, Chris Gervais, Chief Technology Officer of Kyruus, tells us about what Kyruus is doing to improve patient access and help health systems match patients to the right providers. Health systems often don’t know enough about their providers, and Kyruus is working to empower health systems to use that data in a computable way in order to coordinate patient demand with physician supply.

Snoop Last Year’s Bayer G4A Startups, Then Apply

SPONSORED POST

By JESSICA DA MASSA, WTF HEALTH

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

Perspectives on Working with Healthcare Systems for Digital Start Up Companies | Part 2

Brian Van Winkle
Shahid Shah

By SHAHID SHAH, MSc and BRIAN VAN WINKLE, MBA

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 solutions.

Perspectives 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. 

Advice

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.

Continue reading…

Perspectives on Working with Healthcare Systems for Digital Start Up Companies | Part 1

Brian Van Winkle
Shahid Shah

By SHAHID SHAH, MSc and BRIAN VAN WINKLE, MBA

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.  

Perspectives 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. 

Advice

(1) 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 solution.

Continue reading…

NEW: HardCore Health Podcast, Episode 1

By MATTHEW HOLT

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.

Calling All Tech Companies & Early Stage Innovators Health 2.0 Annual Conference Applications Are Open!

SPONSORED POST

By IRENA LUO

Considered a major hallmark of the Health 2.0 Annual Conference, these two opportunities for tech presentations are a chance for entrepreneurs and startups to gain visibility for their products with potential investors, partners and peers. The conference—scheduled from September 16–18 in Santa Clara, California—is now accepting applications from companies who want to demo their health tech innovations or pitch for a chance to be named Startup Champion at the HIMSS event.

Health 2.0 Live Tech Demos

Applications close June 7, 2019

Last year at the 2018 Health 2.0 Annual Conference, more than 100 innovative companies, including Aaptiv, Healthify, and Heart Flow, showcased products designed to help transform healthcare. In 2019, the Health 2.0 team is changing things up and reworking their breakout session schedule to allow more focus around the main stage programming. What does this mean for our demos? With more streamlined programming, we’re upping the ante for our tech demo applicants and selecting the most intriguing, adaptable, applicable products to be featured at the 13th year of the conference. Chosen companies will either demo their tech in standalone presentations or as part of larger panel sessions.

How to apply:

  1. Go to the application page
  2. Create a login
  3. Click “Health 2.0 Live Demos 2019”

Health 2.0 VentureConnect Pitch Competition

Applications close July 8, 2019

For startups and entrepreneurs, the rapid-fire pitch competition is an opportunity to get valuable exposure for their products, make connections with some of health tech’s biggest and most active investors, and ultimately win the title of Most Fundable Startup. Last year, 60 companies competed in the competition. Mira and Avhana Health won in the contest’s consumer and provider tracks, respectively.

The Health 2.0 VentureConnect Pitch competition brings together vetted seed companies through raising Series A companies to pitch their innovative product live on stage during rapid-fire presentations. The prize? Being named the most promising startup by the venture capitalists and corporate investors judging the competition. Six competition finalists—three consumer-facing startups and three provider-facing ones—will compete to win in their category.

How to apply:

  1. Go to the application page
  2. Create a login
  3. Click “Health 2.0 Pitch Competition 2019”

Irena Luo is a Producer at the Health 2.0 Annual Conference, A HIMSS Event

THCB Spotlights: Arcadia.io

Arcadia.io is a population health company that helps providers and insurers in their transition to a value-based care model. Arcadia is working with several of the Blues, Cigna, Beth Israel, and more. While it started as a consulting firm, in recent years Arcadia has raised over $40m from Merck, GE, and other corporate venture funds.

Listen to Matthew Holt’s interview with Sean Carroll, CEO of Arcadia.io below.

Health in 2 Point 00, Episode 78 | FBI, FDIC and Funding, oh my!

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

THCB Spotlights: Matt Cox CMO of Lumeris

Today THCB is spotlighting Lumeris which creates a platform to help set-up and develop health plans and manage care delivery for patients. Working with its associated medical group Essence, Lumeris has been creating actionable steps to reduce Medical Cost Rates (MCRs) and is now taking that process to other health systems that want to set up Medicare Advantage plans. Lumeris is working with 12 health systems and is growing rapidly. Recently, Lumeris partnered with Cerner to bring their product to market.

Matthew Holt interviewed Matt Cox, Chief Marketing Officer at Lumeris to find out the details.


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