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9 Things Every Healthcare Startup Should Know About Business Development

By ANDY MYCHKOVSKY

In this post, I write down all my strategy and business development knowledge in healthcare and organize it into the top 9 commandments for selling as a healthcare startup. I think everyone from the founder to the most junior person on the team should know these pillars because all startups must grow. I should also note these tenets are most applicable for selling into large enterprise healthcare incumbents (e.g., payers, providers, medical device, drug companies). Although I appreciate the direct-to-consumer game, these slices are less applicable for that domain. If your startup needs help developing or implementing your business development strategy, shoot me an email and we can discuss a potential partnership. Enjoy!

1. Understand Everything About the Product and Market

You must also understand the competitive landscape, who else is in the marketplace and how they appear differentiated? What has been their preferred go-to-market approach and is your startup capable of replicating a similar strategy with your current team members? Also, do you understand the federal and state policy that most affects your vertical, whether that be pharmaceutical or medical device (e.g., FDA), health plans (e.g., state insurance commissioners), or providers (e.g., CMS)? For example, if your company is focused on “value-based care” and shifting payment structures of physicians to downside risk, do you intimately understand The Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) and the requisite CMS Demonstration Models from the Innovation Center (e.g., MSSP, BPCI-A, etc.)? Make sure you do or at least hire someone to explain what is important now and in the future.

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Glen Tullman’s Advice for Health Startups | Glen Tullman, Livongo

By JESSICA DAMASSA, WTF HEALTH

A must-watch for any startup looking to make it big in the digital health world. Glen Tullman, Chairman of Livongo, shares his best advice for new and emerging startups seeking to disrupt healthcare. On the heels of his company’s IPO, and just after closing the company’s biggest contract to-date with the US Federal Government, Glen talks closing deals, building a great team, what it’s like to navigate the contracting process with a big org like the US government, and more. Entrepreneurial spirit abounds at the Bayer G4A Signing Day event in Europe. Does that mean that Livongo will be jumping into the European market any time soon? Tune in to find out!

Filmed at Bayer G4A Signing Day in Berlin, Germany, October 2019.

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Health Innovation in Seattle & the Pacific Northwest | Maura Little of Cambia Grove

By JESSICA DAMASSA, WTF HEALTH

In the Pacific Northwest, “accelerator-slash-think tank” Cambia Grove is quickly expanding as the region’s go-to healthcare innovation hub. Fully funded by Cambia Health Solutions, the organization is functioning as a neutral party to bring startups and healthcare system incumbents together to identify innovation priorities. What else is happening in health tech in Seattle, especially with a few of those famous big consumer tech companies headquartered up there? Tune in to find out!

Filmed at the Together.Health Spring Summit at HIMSS 2019 in Orlando, Florida, February 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

Pediatrics Innovation: What Health Startups Need to Know | Omkar Kulkarni, Children’s Hospital of LA

By JESSICA DAMASSA, WTF HEALTH

Innovation in pediatric medicine requires a different approach than healthcare innovation aimed to help adults. Omkar Kulkarni, Chief Innovation Officer at Children’s Hospital of Los Angeles, explains some of the key differences healthcare innovators need to keep in mind when creating new health solutions for kids and their parents. A key area of focus for Children’s Hospital of LA? Understanding how to transcend the social determinants of health to help LA’s population of 2.5 million kids.

Filmed at the Together.Health Spring Summit at HIMSS 2019 in Orlando, Florida, February 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

Tips for Scaling a Health Tech Startup | Glen Tullman & Zane Burke of Livongo

By JESSICA DAMASSA, WTF HEALTH

What can you learn about building a successful health tech company from the guy who took Allscripts public? What if you add the former CEO of Cerner to the conversation? Glen Tullman, Executive Chairman of Livongo, introduces his new CEO, Zane Burke, and shares the details about how they’re expanding their chronic condition management platform beyond diabetes. The two talk strategy, acquisition, building bench strength, culture, and fundraising…right in front of an inflatable unicorn. A hint of things to come? Will Livongo go public?? Listen in to find out.

Filmed at HIMSS 2019 in Orlando, Florida, February 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

Health in 2 Point 00, Episode 66 | Ciitizen, Limelight Health, The Pill Club, and ADURO

On Episode 66 of Health in 2 Point 00, Jess and I talk about money, money and more money. For one, Ciitizen, a health records company focusing on cancer patients, just closed a $17 million round. Limelight Health, which helps employers put together quotes for employee benefits, raised $33.5 million, and The Pill Club, an online birth control prescription and delivery service, raised $51 million. Jess also asks me about ADURO’s $22 million raise and why the employee wellness space is continuing to get so much funding. And again, be sure to find us at our booth at HIMSS! —Matthew Holt

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