It’s interesting enough that Optum’s Vice President for Direct-to-Consumer is not only a serial digital health entrepreneur, but she’s also a behavior change scientist. Dr. Kate Wolin stops by to share some background on behavior change science, and how healthcare companies large and small are looking to drive health and wellness outcomes by integrating its principles and techniques into product design strategy.
Behavior change science appears to be having a “moment” here in healthcare, peppering conversations about everything from business models and consumer engagement strategies to product design, particularly in the chronic care and mental health spaces. Optum obviously has an interest in the discipline, with Kate in such a critical leadership role. And, our friends at life sciences giant, Bayer, also seem keen on exploring the approach, as it’s both the focus of one of the sessions of Bayer G4A’s free digital health forum, Health for All, on September 9, AND the reason Kate’s here to provide a deep-dive into the subject as a special prequel to the event.
So, what are the key takeaways? Well, it turns out there are a lot of misconceptions about behavior change science. Kate sets us straight, explains why she’s NOT a fan of the term “nudges,” and talks about what digital health companies usually get wrong (and right) about incorporating behavior change techniques into their products and services. Does behavior change require human intervention in order to make it sticky? Or, can technology be just as effective in achieving the right levels of personalization needed to make an ongoing impact on a person’s behavior? We get smart on this trending approach, and Kate gives us her prediction for how healthcare will be looking to increasingly incorporate this science into its future.
Special Note: To hear more from Kate and a host of other healthcare experts during Bayer G4A’s special global event “Health for All – A Digital Health Forum” on September 9, 2021, register at www.g4a.health.
From Bill Gates to Goldie Hawn, Dr. Fauci and Rochelle Walensky to Astronaut Scott Kelly, and magician Penn Jillette to digital health’s own Dr. Daniel Kraft, new conference LIFE ITSELF (Sept 28-Oct 1) promises an eclectic mix of big thinkers from across tech, business, government, entertainment, and healthcare and a truly unique look at 10 big topics shaping the future of health and wellness.
Created, curated and co-hosted by Marc Hodosh (former owner and creator of TEDMED) and CNN’s chief medical correspondent, Dr. Sanjay Gupta, the four-day discussion is intended to be a mind-expanding, multidisciplinary discourse on healthcare topics that range from cost of care to human longevity. We’ve got Marc here to dish about the agenda as it’s being developed, and we’re lucky he’s willing to share a little bit about some of the surprises he and his team have planned.
Quick word to the wise if you’re interested in attending this one: check it out quick and register ASAP. The event is designed to be intimate to facilitate mixing-and-mingling among speakers and attendees within the iconic Hotel del Coronado and that means space is limited. Tune in to hear more and check out all the details at www.lifeitself.health.
There’s been a steady drip of announcements coming out of One Drop in recent months about their data capabilities (28 billion biometric data points to be exact), the predictive power of their platform (remember blood glucose predictions and blood pressure insights) and NOW a partnership deal with top-of-the-line smart device manufacturer, Withings. What is this all adding up to? How about some HUGE NEWS?! Rachel Yap Martens, One Drop’s SVP of Commercial Strategy, stops by with a big reveal about the cohesive strategy behind these moves, and how they are all leading to One Drop’s launch of a first-of-its-kind, minimally invasive BIOSENSOR that will bring “continuous health sensing” to the market in the next year or so.
Health tech die-hards will remember One Drop’s acquisition of Sano Intelligence’s sensor technology in April 2020, but that was only the beginning. That sensor tech has been evolved, adapted, and refined, and works by detecting analytes in the body’s interstitial fluid, which – if you look it up – holds important things like glucose, salt, fatty acids, calcium, potassium, magnesium and more. Jump ahead to the 15-minute mark in this interview if all you want to hear about is this, BUT word to the wise: the really compelling part of the sensor is how it will plug right into all the other biometric data collection points in the One Drop ecosystem. Says Rachel, the goal is to help One Drop members “to know what is happening with their bodies right now, to know what is going to happen to their bodies next, and to know how to take action.” Exciting interview!!
Today on Health in 2 Point 00, we have more deals for you! First up, DomaniRx: Anthem, Humana, and a software company SS&C are teaming up to launch a PBM. Connections Health Solutions raises $30 million working on comprehensive behavioral health care, and Veda Data Solutions raises $45 million, bringing their total to $52.2 million, applying AI to provider data. Finally, Medicare navigation platform Connie Health raises $13 million, bringing their total to $16 million. —Matthew Holt
According to the team at YourCoach.Health, health coaching is “the ‘glue’ that’s connecting the $4-trillion wellness economy with the $8-trillion healthcare economy.” And by learning about the growing number of nearly 2,000 health coaches who are engaged in their practice management solution – and the small and mid-sized employers who want to tap into it to provide health coaching to their workforces – its seems like they might be right.
YourCoach’s CEO Marina Borukhovich and COO Eugene Borukhovich walk through the work they are doing to build a platform that both helps health coaches do their jobs better AND find clients within the SMB health benefits market. While “coaching” might often get wrapped around everything from remote monitoring devices and digital therapeutics to care plans for chronic conditions and long-term illnesses, “health coaching” as a credentialed discipline is different.
Marina and Eugene de-mystify the terminology for us, along with the certifications required to be a health coach, the current reimbursement climate for the health service, and where they think the discipline is headed as demand for “human-led, compassion-driven” healthcare booms among both healthcare consumers AND practitioners. A couple little scoops in this one too as we learn about some soon-to-be-released tech features on their platform AND the seed-funded startup’s plans to raise a Series A.
Digital health continues to gain a lot of attention from investors, so we’ve checked in with one to get some perspective on what’s hot (and what’s not) midway through the sector’s largest funding year yet. Larry Leisure, of Chicago Pacific Founders (whose enterprise health benefits company, Jiff, was acquired by Castlight Health) weighs in on the exuberance investors are showing for the health innovation space and whether or not it will last.
Are valuations and funding rounds a little overblown? Are investors concerned about some of the recent complaints of ‘digital health fatigue’ that employers and health plans are starting to vocalize as they wade through an expanding portfolio of point solutions? Larry brings us in on some of the closed-door conversations he’s had with payers and employers about the health tech startup scene, and how their thinking is starting to shift his own ideas about where to place his bets next. Healthcare navigators…care-plus-behavior-change platforms…underserved markets…the digital front door…the end of the per-member-per-month business model and SO MUCH MORE. Love getting a high-level look at the field of play!
Today on Health in 2 Point 00, we have a deal so big it’s brought me out of vacation just for this episode! Amwell acquires not one, but TWO companies – DTx mental health company SilverCloud Health and chatbot company Conversa Health for a combined $320 million. In other news, mental health company Sondermind raises $150 million, bringing their total to $188 million, and femtech company Elvie raises $80 million, bringing their total to $133.9 million. —Matthew Holt
SonderMind closes a $150M Series C funding round co-led by Drive Capital and Premji Invest, and we get CEO Mark Frank’s take on what sets THIS digital mental health startup apart from a pack of very well-funded competitors. SonderMind has its own behavioral health therapists, built its own tech stack, delivers care virtually AND in-person, is covered by some of the biggest health plans in the country — Aetna, Anthem, Bright Health, Cigna, Kaiser, Optum, and United Healthcare. (They can also namedrop health-tech-infamous Board member, Jonathan Bush, in an interview, but that’s beside the point!)
What’s most remarkable – and what Mark says most impressed investors this time around – is not only the health of SonderMind’s business model, but also its balance sheet. This raise marks the bulk of the total $183M the startup has raised to-date, and Mark reveals that they’ve only deployed about half of the $27M Series B funding they received in April 2020 in a round led by General Catalyst. How will such a “capital efficient” business begin to deploy these new funds? We hear Mark’s plans for nationwide expansion and improvements to that tech stack, particularly when it comes to better matching therapists and patients based on expertise and need, and more appropriately measuring process and outcomes. Two areas ripe for more tech integration as the mental health provider tackles what Mark calls THE defining health issue of our generation.
Today on Health in 2 Point 00, Jess and I chat about the staggering medical debt in this country before diving into some more health tech deals. First up on Episode 224, personal health record company b.well Connected Health raises $32 million, bringing their total to $57 million. Next, Quit Genius raises $64 million in a Series C, bringing the digital addiction clinic’s total to $78.6 million, and Swedish telehealth company Doktor.se raises €29.5 million – there are some interesting investors in this one. Sweetch, a Bayer G4A company, raises $20 million for its behavior change app and Kno 2 raises $15 million in a Series A in yet another interoperability play. Finally, Healthify.Me raises $75 million, bringing its total to $100 million – this is like Noom plus exercise in India.—Matthew Holt
The “platform-ization” of chronic condition care continues among digital health companies and Nasdaq-traded Dario Health ($DRIO) has acquired TWO different startups in 2021 alone to augment their core diabetes management offering and keep up. Both wayForward and Upright are now under the Dario Health banner and CEO Erez Raphael reveals the strategy behind the two buy-outs — which cost the company just about $30M each and will add digital behavioral health and musculoskeletal care for chronic pain to the Dario experience.
Erez believes that the promise of digital health and digital therapeutics is hyper-personalization, and that addressing multiple conditions at the same time, in a seamless integration, is the way to deliver on that value prop. But, he’s not alone. Teladoc’s Livongo, Vida Health, One Drop, and Omada Health are well-funded competitors pitching the same promise of integrated virtual care. So, how will Dario Health stand-out? Erez points to the company’s direct-to-consumer beginnings and tech expertise as differentiators – will that be enough in the crowded US employer and health plan market OR is the total addressable market large enough for Dario to grab a significant share? We chat chronic condition care market penetration strategy with one of its few publicly traded digital health companies.
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