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.”
Before Livongo set digital health records for its IPO, it started 2019 by launching a brand-new category of healthcare company: the Applied Health Signals company. How is this category different than what we already think of when we think about digital health and healthcare? How is it distinct from health tech’s other emerging classification, digital therapeutics? Jennifer Schneider, Livongo’s President, explains why the company started the new category, which is intended for those who are working at the intersection of data science, clinical impact, and behavioral outcomes. Could your company be an Applied Health Signals Company? Listen in to hear Jenny talk about how Livongo’s “AIAI engine” drove the decision to start the new classification. If your tech works like hers…maybe you are!
The ‘virtual-care-for-behavioral-health’ space is getting a bit crowded these days, particularly as demand for such services reach new heights among patients. Russell Glass, CEO of health tech startup, Ginger (formerly known as Ginger.io) thinks his company has solved the supply-and-demand imbalance with their unique model that offers on-demand coaching, video therapy & psychiatry, and self-guided content by a range of different mental health care providers. Trained behavioral health coaches serve as the front-line of Ginger’s service, then act as care coordinators to bring in fully-licensed therapists and psychiatrists as needed. With 60 enterprise clients, double-digit patient engagement rates, and outcomes beating standard of care rates, Ginger’s got traction — and also cash. The company’s raised more than $70 million, having closed a Series C (with a follow on) in late 2019. Russ details scale up plans AND answers the question that all you health tech pundits are no doubt dying to ask: what happened to the ‘.io’?!
It used to be that patients would have to go see a doctor to get lab tests ordered to check their cholesterol or metabolism, but now, thanks to at-home testing companies like Everlywell, those tests (and 30 others, including STI tests) can be ordered online or picked up at some big box retailers. We chatted with Dr. Frank Ong, Everlywell’s Chief Medical and Scientific Officer, about what it means to put patients in charge of ordering their own lab work — and combing through their own testing results — vis a vie the Everlywell platform. As consumers demand more control over their healthcare dollar and the experience it buys, is there a point where patients risk getting in over their heads? How have doctors been responding to patients who come in armed with their own lab results? We check in on how at-home testing kits are ‘testing’ the reaches of patient-led care.
While the “healthcare ecosystem” sounds like a nice place to begin a career, the day-to-day can often make it feel like the industry is about survival of the fittest — especially for young professionals who are just starting out. Enter The Advancement League, an organization-slash-support-system for young leaders and entrepreneurs. Co-founders Alex Maiersperger and Antwan Williams started the organization as a way to unite bright-eyed, up-and-comers from health systems, health plans, and startups who not only want to build big careers in health, but who also want to apply their youthful optimism, new ideas, and tech to changing the experience of healthcare for the better. How can you get involved? Tune in for all the details about the organization’s events, especially their “big one,” the Young Health Leader’s Summit.
Ava Science is a FemTech company best-known for their fertility-predicting wearable device that collects biometric data from a woman’s wrist in order to track ovulation. The device predicts fertility with 89% accuracy (according to published clinical trial data) and is among one of the most well-funded FemTech startups out there, having raised a cumulative $47M. So what’s next? Lea von Bidder, Ava’s CEO, explains the data-driven vision for the company, which is currently one of the few medical device wearables that is approved for collecting digital biomarkers. The startup is eager to capitalize on that first-mover advantage in the women’s health space, and is looking at other ways to use their data. Lea talks through her plans for exploring a full-range of women’s health applications, from non-hormonal birth control to new products that might appeal to women during pregnancy or menopause.
Disruption of the healthcare payment model? We’re IN! Meet Ooda Health a two-year old startup that is working to change the way healthcare is paid for by changing WHEN it’s paid for: BEFORE the patient leaves the hospital or doctor’s office. How can we possibly live in a world without EOBs? We’re dying to find out. Seth Cohen, President & Co-Founder of Ooda Health, talks about the launch of the startup’s first service, Ooda Pay, which just went live with BCBS of Arizona, Blue Shield of California, and care provider, Common Spirit Health. How did it go? We may be closer to disrupting healthcare billing (and it’s paperwork and admin expense) than we thought.
Ali Diab, CEO & Co-Founder of Collective Health, wants to talk about healthcare affordability and the fact that consumerism doesn’t really exist when it comes to healthcare because we don’t really have a functioning market. The “Real” buyers — from the federal government to large employers — have no idea what things cost in traditional health plans and are making healthcare purchases for their constituents without full price transparency. So, what has he and Collective Health learned now that they’re 6 years into trying to offer these buyers an alternative to that traditional health plan experience? Nothing is more complex than health insurance innovation, but Collective Health is making significant headway and, according to Ali, has made it past the “homicide phase” of being a digital health startup.
Filmed at HLTH 2019 in Las Vegas, October 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.
Is healthcare on the way to ‘telehealth at-scale?’ We checked in with American Well’s Danielle Russella, President & GM of Health Plan Solutions, to rumor-check the buzz we’ve been hearing about “digital-first health plans” and what that means for the future of health plan coverage for telehealth services. From provider uptake and payment parity to patient awareness and utilization, Danielle weighs in on the state-of-play of telehealth/health plan relations and how digital health seems to finally becoming part of payer strategy talks within the C-suite. At American Well, that’s meant more growth in last 2 years than in the previous 8 years, says Danielle. Is that why we’re hearing those IPO rumors? Tune in to find out if there’s any merit to that chatter.
Today on THCB Spotlights, Matthew speaks with Jeremy Orr, CEO of Medial EarlySign. Medial EarlySign does complex algorithmic detection of elevated risk trajectories for high-burden serious diseases, and the progression towards chronic diseases such as diabetes. Tune in to hear more about this AI/ML company that has been working on their algorithms since before many had even heard about machine learning, what they’ve been doing with Kaiser Permanente and Geisinger, and where they are going next.
Filmed at the HLTH Conference in Las Vegas, October 2019.