Today on Health in 2 Point 00, Jess and I are covering all the hard hitting news while surviving COVID-19. Before we turn to deals, Jess asks for my thoughts on the American Hospital Association, American Medical Association and American Nurses Association asking for $100 billion from Congress. For our funding news, Finnish smart ring startup Oura raises $28 million in a Series B; Heartbeat Health raises $8.2 million in a Series A for virtual cardiovascular care; Vault raises $30 million in a Series A, entering an already-crowded field alongside Roman and Hims; and Bloomer Tech raises $3 million for their smart bra. Finally, keep up with digital health innovators working on COVID-19 on Catalyst’s new site, covid19healthtech.com. —Matthew Holt
Today on Health in 2 Point 00, Jess is joining somebody for their self quarantine in the Oval Office! Shenanigans aside, I give a quick coronavirus update and a shameless plug before diving into our regular coverage of all the deals. As for COVID-19, there’s a ton of activity going on in the digital health world with companies trying to figure out how they can help with this. Catalyst will be presenting some of that, either this weekend or early next week. Next, there’s an FHIR-related HealthDevJam event (free, online) TODAY at 1pm Eastern with lots of great people speaking.
Diving into some non-coronavirus related deals, eConsult company RubiconMD raises $18 million, Lyra Health getes a chunk of change—$75 million—for its mental health platform, Fruit Street Health gets $17 million from an unlikely source, b.well raises $16 million for what’s not a personal health record, and CVS announces that it added 5 digital health companies to its point solution management system. Finally, there’s been some sneaky stuff uncovered about Sanofi. Tune in for all the details on Episode 112. —Matthew Holt
Live from the tradeshow floor of HIMSS, it’s Health in 2 Point 00! And no, I’m not fading away from coronavirus on this episode—but how many people could I have singlehandedly infected had the conference gone forward? On Episode 111, Jess and I have some fun with virtual backgrounds and talk about all of the things we’re missing at HIMSS right now. From what Trump would’ve said had he gotten the opportunity to speak, to what conversation would’ve gone on about the new ONC rules, to the big funding announcement we missed, here’s everything that succumbed to #HIMSSpocalypse2020. —Matthew Holt
Today on Health in 2 Point 00, we resume our two-part series with part B and bring our promised special guest! Continuing from the first part of Episode 110, Jess and I discuss the women and family health startup Maven raising $45 million in its Series C round with celebrity investment. 1UpHealth, the MassChallenge HealthTech Finalist, raises $8 million; IntelyCare raises $45 million bringing the gig-economy approach to nurse staffing raises, and HealthJoy raises $30 million in Series C funding. The hospital owned ACO umbrella services company Caravan Health acquires Wellpepper, and Sharecare acquires Visualize Health; are these good acquisitions? -Matthew Holt
Today on Health in 2 Point 00, Jess is singing as we are finally back with a two-part episode to cover the deals over the past couple weeks! On part A of Episode 110, Jess and I begin with Trump as he is set to speak at HIMSS next week. K Health raises $48 million in its Series C round to focus development on AI-powered primary care. Accolade files for a $100 million IPO and the telehealth language service platform Cloudbreak Health raises $10 million. Finally, Q Bio raises $40 million in Series B funding aiming to open additional centers and enhance the digital health platform. -Matthew Holt
By ANDY MYCHKOVSKY
Today, primary care is considered the bee’s knees of value-based care delivery. Instead of being viewed as the punter of the football team, the primary care physician (PCP) has become the quarterback of the patient’s care team, calling plays for both clinical and social services. The entire concept of the accountable care organization (ACO) or patient-centered medical home (PCMH) crumbles without financially- and clinically-aligned PCPs. This sea change has resulted in rapid employment or alignment to health systems, as well as a surge in venture capital being invested into the primary care space.
Before we get too far in the weeds, let’s first begin with the definition of primary care. The American Academy of Family Physicians (AAFP) defines a primary care physician as a specialist typically trained in Family Medicine, Internal Medicine, or Pediatrics. Some women do use their OB/GYN as their PCP, but these specialists are not traditionally considered PCPs. Now if you’ve gone to your local PCP and noticed that your care provider is not wearing a white coat with the “MD” or “DO” credentials, you are either receiving treatment from a hipster physician, nurse practitioner (NP), or physician assistant (PA). Two of the three professionals are trained in family medicine and can provide primary care services under the responsibility of an associated PCP. At least one of the three has a beard.
The crazy thing is, despite the industries heightened focus on the importance of PCPs, we’re still expecting a shortage of primary care providers. In April 2019, the Association of American Medical Colleges (AAMC) released a report estimating a shortage of between 21,100 and 55,200 PCPs by 2032. Given we just passed 2020, this not that far off. The primary reason for the shortage is the growing and aging population. Thanks mom and dad. Digging into the numbers will really knock your socks off, with the U.S. Census estimating that individuals over the age of 65 will increase 48% over that same time period. Like a double-edged sword, the issue is not just on the patient demand side though. One-third of all currently active doctors will be older than 65 in the next decade and could begin to retire. Many of these individuals are independent PCPs who have resisted employment by large health systems.Continue reading…
By JESSICA DaMASSA, WTF HEALTH
Molly Coye has spent more than two decades working to advance technology initiatives in healthcare, serving roles as diverse as the Commissioner of Health for the State of New Jersey, Chief Innovation Officer for UCLA Health, and now Executive in Residence for AVIA, which mentors more than 50 large health systems on tech selection, adoption, and implementation. With such rich experience working with healthcare incumbents, we asked Molly to size up the current class of innovators, technologists, developers, and investors bringing the latest health tech solutions to market. What have they gotten right? Where do they need to improve? “We’re not so good at cost of care and lack of access,” says Molly, who also sees potential for that to change thanks to the work of organizations like Health Tech for Medicaid and an increased focus on solutions that address the health needs of ALL patient populations.
Filmed at J.P. Morgan Healthcare Conference in San Francisco, January 2020.
By JESSICA DaMASSA, WTF HEALTH
To hear Matthew Holt tear apart a pitch deck—or worse, a demo—one thinks of another Brit with a penchant for criticism and tell-it-like-it-is tough love. Could Matthew Holt be the Simon Cowell of health tech? Or maybe he’s got a point underneath all that gruff? Having co-founded Health 2.0, Matthew helped bring digital health and health tech startups into the mainstream by providing a friendly forum for entrepreneurs and established healthcare incumbents. Along the way, he’s suffered through his fair share of demos and pitches, and watched all corners of the healthcare market as it reacted to (and invested in) tech health solutions. Now bringing that 30 years of wisdom to startups seeking coaching, help with strategy, business model design, fundraising, and, of course, demoing and pitching, Matthew explains how he hopes to help the current class of up-and-coming health startups via his consulting biz, SMACK Health.
Filmed at HLTH 2019 in Las Vegas, October 2019.
By KIM BELLARD
Tesla is now, by market cap, the second largest auto manufacturer (after Toyota). Its market cap exceeds U.S. auto makers Ford, G.M., and Fiat/Chrysler — combined. This despite selling less than 400,000 vehicles in 2019, a figure that is more than the prior two years combined.
Tesla has made its bet on the future of electric cars. It didn’t invent them. It isn’t the only auto manufacturer selling them. But, as The Wall Street Journal recently said:
Investors increasingly see the future of the car as electric—even if most car buyers haven’t yet. And lately, those investors are placing bets on Tesla Inc. to bring about that future versus auto makers with deeper pockets and generations of experience.
A recent analysis suggested a big reason why, and its findings should give those in healthcare some pause. Tesla’s advantage may come, in large part, from its supply chain.Continue reading…
By JESSICA DaMASSA, WTF HEALTH
7Wire Ventures is a venture fund that invests in early-stage healthcare companies that are focused on connecting with the healthcare consumer — kind of like one of the most successful companies in its portfolio, Livongo, which went public in 2019. Robert Garber, a partner with the firm, stops by to share his point-of-view on where the consumer health tech market will be headed in 2020, if we’ll see more exits, and whether or not consumer health will be able to gain traction with healthcare’s established players like payers and health systems.
Filmed at J.P. Morgan Healthcare Conference in San Francisco, January 2020