Is Castlight Health suffering a case of ‘first-mover’ curse? One of digital health’s first unicorns, Castlight Health, IPO’d back in 2014 with a valuation of over $3 billion dollars (reportedly, 107 times revenue) at a share price of $40. Today, the stock trades around $1.20, and the company has endured years of frustration from shareholders who’ve complained about customer churn and questioned the company’s business model. A recent change in leadership at the top of the organization has ushered in new CEO Maeve O’Meara, a long-time employee of the trailblazing company, who’s now responsible for blazing a new path toward forward herself. Refreshingly candid about the road ahead, Maeve explains how some new high-touch (but cost-effective) offerings are opening up new markets for the biz and hints at potential partnerships emerging with Big Tech. A must-watch for any digital health startup, investor, or industry analyst who wants longitudinal perspective on health tech’s market resilience and the importance of timing. Maeve, who was a health investor herself before joining Castlight, sums up the challenge of trailblazing tech in healthcare like this: “In healthcare, you always want to be one step ahead and not two steps ahead — you can get burned easily by being two steps ahead.”
It’s the ‘holy grail’ of advice for health tech startups. BlueCross BlueShield of North Carolina’s Chief Strategy & Innovation Officer, Bryony Winn, tells what it takes for digital health and digital therapeutics startups to gain partnership agreements, reimbursement, and possible investment from health plans. How do you figure out how to “align incentives” in a way that perks up a payer’s ears? Bryony gives us some VERY FRANK advice about how startups can bring innovation to BCBS of North Carolina, other Blues plans, or their VC funds (which in this case is Echo Health Ventures where BCBS North Carolina partners with Cambia Health Solutions.) To play the game, you have to know the players. Tune in for more.
Today on THCB Spotlights, Matthew talks to Mike McSherry about Xealth—which is an “X” not a “Z” as in, the missing variable in health. How did Mike end up in health care from Swipe, the touch screen keyboard that is now ubiquitous on all touch screen phones? Find out how Xealth facilitates adoption of a vast range of digital health services by making it easy for providers to prescribe them as well as track engagement levels. Within the complexity of Epic and other EMR systems, how does Xealth fit in?
That history should provide a sobering perspective on the distinction between inevitable and imminent (a difference at least as important to investors as intellectuals), even on hot-button topics such as new data uses involving the electronic health record (EHR).
I’ve been one of the optimists. Earlier this year, my colleague Adrian Gropper and I wrote about pending federal regulations requiring providers to give patients access to their medical record in a format usable by mobile apps. This, we said, could “decisively disrupt medicine’s clinical and economic power structure.”
A few weeks ago, WTF Health took the show on the road to Australia’s digital health conference, HIC 2019. We captured more than 30 interviews (!) from the conference, which is run by the Health Informatics Society of Australia (hence the HISA Studio branding) and I had the opportunity to chat with most of the Australian Digital Health Agency’s leadership, many administrators from the country’s largest health systems, and a number of health informaticians, clinicians, and patients. I’ll be spotlighting a few of my favorites here in a four-part series to give you a flavor of what’s happening in health innovation ‘Down Under.’ For much more, check out all the videos on the playlist here.
What trip Down Under would be complete without an update on the Australian government’s My Health Record program? The “opt out” period is over and now 22M Aussies (90% of the population) have electronic records managed by the gov’t. Bottom line: They’ve built it, no one’s really opted out, but no one’s really come yet either…especially on the provider side to populate the record with info.
Here are four different takes on what’s going on and what’s next.
For the ‘general gist’ of what’s happening:
Elizabeth Deveny, Chair of the Australian Digital Health Agency
Digital therapeutics has exploded as the new hot buzzword in digital health. But how are digital therapeutics different from digital health applications, applied health signals, or m-health technologies? The Digital Therapeutics Alliance was formed to answer that exact question. DTA Executive Director Megan Coder sets the record straight, hint: it involves software algorithms.
Filmed at JP Morgan Healthcare in San Francisco, CA, January 2019.
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.
Sharing a hotel room, however, does not a marriage make. In order to get better digital health interventions to market faster, we need what I’m calling a Partnership for Innovators, Policymakers and Evidence-generators (PIPE). As someone who functions variously in the policy, tech and academic worlds, I believe PIPE needn’t be a dream.
4 of 5 digital health solutions won’t make it to the doctor’s office, and Bram Van Leeuwen, Sanofi’s Lead for Digital Innovation BeNeLux, thinks he knows why. Health tech startups (and their health system advocates) should tune in to find out how they can up their odds of getting their tech integrated into existing points of care. Are there any health systems in the world that have excelled at implementing health tech solutions? Bram’s picked some winners and is sharing best practices.
Filmed at HIMSS/Health 2.0 Europe in Helsinki, Finland in June 2019.
There I was, my 10th-grade science fair. My mother made
sure I had a tie that fit properly and a shirt that was perfectly pressed. I stood among my peers
with our cardboard presentation displays highlighting what we did to make it to
this point. I was a little nervous but also extremely proud of myself and
excited to see the looks on the judge’s faces when they saw what my project was
of Enzymes on DNA”
Boom. Oh, I wasn’t doing something that many people had seen
already — I was working inside an NIH facility with a brilliant scientist
mentor/coach, to get this done. The memories of taking multiple modes of
transportation after school throughout the week for what seemed like forever
wore me down enough to make sure that I knew this was going to be worth it. And
then after the judges were introduced to all of our concepts and families
poured throughout the gymnasium to see what we all came up with — now was the
moment of truth.
Sweaty palms and teenage anxiety wouldn’t deter me. First place goes to….oh ok, yeah of
course, they deserved that. They worked really hard I’m sure. Second place goes to….oh wow, I didn’t make
second place? At least, I’ll get something. After a third place winner was
announced and the applause faded. I looked, stunned, over at my mother in the
audience whose face was covered in tears. I was ready for the night to be over.
Did I not wear the right tie? Did I seem
too confident? Not confident enough? The questions would consume me until
later that evening when my science teacher told me that the judges thought I cheated or didn’t actually do any
of the work.
Today on Health in 2 Point 00, Jess and I are in Helsinki for Health 2.0 HIMSS Europe. In Episode 83, Jess asks me about Roche cheating on mySugr—Roche announced a new partnership with digital diabetes provider GlucoMe, about the new $100 million hospital venture fund in Iowa coming from UnityPoint Health, and about Infermedica’s recent $3.65 million raise for their cool symptom checker complete with an AI chatbot. Stay tuned for more updates from the conference. —Matthew Holt