Jess & I have been out late playing the odds in Vegas at the AHIP conference. This #healthtechdeals has a special appearance from our friend Lara Dodo at Newtopia, and then there are deals for Proximie ($80m), Abacus Insights ($28m), AI VF ($25m), Florence Health ($27m) & Cara Care ($7m) –Matthew Holt
Above the Fold
An Upside Down Future for Healthcare
BY KIM BELLARD
I find myself thinking about the future a lot, in part because I’ve somehow accumulated so much past, and in part because thinking about the present usually depresses me. I’m not so sure the future is going to be better, but I still have hopes that it can be better.
Two articles recently provided some good insights into how to think about the future: Kevin Kelly’s How to Future and an except from Jane McGonigal’s new book Imaginable: How to See the Future Coming and Feel Ready for Anything―Even Things That Seem Impossible Today that was published in Fast Company.
I’ll briefly summarize each and then try to apply them to healthcare.
Continue reading…Matthew’s health care tidbits: Is Covid over for the health care system?
Each week I’ve been adding a brief tidbits section to the THCB Reader, our weekly newsletter that summarizes the best of THCB that week (Sign up here!). Then I had the brainwave to add them to the blog. They’re short and usually not too sweet! –Matthew Holt
I am beginning to wonder, is COVID over? Of course no one has told the virus that it’s over. In fact infection rates are two to three times where they were in the post-omicron lull and new variants are churning themselves out faster and faster. We still have 300 people dying every day. But since we went past a million US deaths, no one seems to care any more.
For the health care system, COVID being over means a chance to get back to normal, and normal ain’t good. Normal means trying to get rid of that pesky telemedicine and anything else that came around since March 2020.The incumbents want to remove the public health emergency that allowed telemedicine to be paid for by Medicare, re-enforce the Ryan Haight act which mandates in-person visits for prescribing controlled Rx like Adderall for ADHD, and make sure that tortuous state license requirements for online physicians are not going away. This also means restrictions on hospital at home, and basically delays any other innovative way to change care delivery. Well, it was all so perfect in February 2020!
But there is one COVID related problem that doesn’t seem to be going away. People. They’re just not going back to work and nurses in particular are resisting the pull of the big hospitals. I don’t know the end game here, but there is a clue in the “return to office” data. Basically every large city is below 50% of its office space being occupied and companies are having to figure out a hybrid model going forward, no matter how much Elon Musk objects.
Hospitals aren’t going willingly into the night. The big systems still control American health care, and are prepared to fight on all fronts to keep it that way. But like office workers, nurses and doctors want a different life. The concept of virtual-first, community-based, primary care-led health care has been around for a long while and been studiously ignored by the majority of the system.
If hospitals can’t get the staff and keep losing money employing the ones they have, there will be new solutions being offered to clinicians wanting a different life-style. We just might see a different approach to health care delivery rising phoenix-like from the Covid ashes.
#HealthTechDeals Episode 36| Sana Health, Sesame, Bardavon, Peerwell, Aidoc
It’s the scandal inside the scandal, and we’ve got the scoop! Check out this episode of Health Tech Deals to learn more about Facebook, health data, and American Hospitals. Is someone stealing someone else’s activity and not getting rewarded for it? What about HIPPAA violations? All these questions and more are answered, along with some new deals: Sana Health raises $60 million; Seasme raises $27 million; Bardavon Health Innovations buys Peerwell; AIdoc raises $110 million.
-Mathew Holt
THCB Gang Episode 96, Thursday June 16
Joining Matthew Holt (@boltyboy) on #THCBGang on Thursday June 16 were medical historian Mike Magee (@drmikemagee); patient safety expert and all around wit Michael Millenson (@mlmillenson); Queen of all employer benefits Jennifer Benz (@jenbenz); and Suntra Modern Recovery CEO JL Neptune (@JeanLucNeptune), who these days also hosts the Is It Serious podcast. We got into mental health, patient safety, drug advertising and whether the Jan 6 committee will make a difference.
You can see the video below & if you’d rather listen than watch, the audio is preserved as a weekly podcast available on our iTunes & Spotify channels.
Forget Micro-Networks: How Avaneer Health is Building The One Health Data Exchange to Rule Them All
By JESSICA DaMASSA, WTF HEALTH
What BIG thing is Avaneer Health building with its $50 million SEED round backed by not-just-investors-but-also-partners CVS Health, Aetna, Anthem, Cleveland Clinic, HCSC, PNC Bank, Sentara Healthcare and IBM Watson Health? CEO Stuart Hanson stops by to clear-up the mystery that IS Avaneer Health, and how the massive data exchange platform it’s building is meant to connect the data coming out of the biggest payers and biggest providers in healthcare, directly and in real-time.
Hang on – is this the blockchain-based data exchange healthcare has been talking about for more than a decade?? It sure is trying to be. And what Stuart says is different about Avaneer’s effort is, indeed, the fact that it’s backed by some of the biggest brands in the business and that they see the business case in being able to more effectively share their data with one another. As he explains it, “this problem of data interoperability and data fluidity is bigger than any competitive business model that they need to worry about…”
Stuart is careful to explain what Avaneer IS and what it IS NOT, and this is critical to the company’s growth plans and revenue model. Avaneer is NOT a data intermediary; it’s not about aggregating data, normalizing it, de-identifying it, or applying any fancy machine learning algorithms to it to deliver “insights” on it. Avaneer is strictly a platform for secure, compliant data exchange, so, for example, Anthem can connect to Cleveland Clinic in real-time and verify insurance coverage. The revenue model is currently built around access to the network and will one-day-soon also take in fees from ‘Solutions Innovators’ (aka data-aggregating, algorithm-loving, insights-dropping health tech companies) that will offer their services as add-on’s to Avaneer’s customers who are plugged into the network.
What’s ahead for this stealthy start-up as it scales? Could they REALLY be looking to raise a follow-on seed round?? Find out what kind of investors they’re looking for and what’s ahead on their product roadmap in this in-depth chat.
Global Warming and Disease
BY MIKE MAGEE
A study eight years ago, published in Nature, was titled “Study revives bird origin for 1918 flu pandemic.” The study, which analyzed more than 80,000 gene sequences from flu viruses from humans., birds, horses, pigs, and bats, concluded the 1918 pandemic disaster “probably sprang from North American domestic and wild birds, not from the mixing of human and swine viruses.”
The search for origin in pandemics is not simply an esoteric academic exercise. It is practical, pragmatic, and hopefully preventive. The origin of our very own pandemic, now in its third year and claiming more than 1 million American lives, remains up in the air. Whether occurring “naturally” from an animal reservoir, or the progeny of an experimental lab engaged in U.S. funded “gain-of-function” research, we may never know. What we do know is that viruses move at the speed of light, or more accurately, at the speed of birds.
Continue reading…#HealthTechDeals Episode 35 | CapitalRX, EnsoData, CareAcademy, Inne, and Boulder Care
Hear the big news? Not only has Oracle bought Cerner, but Larry Ellison says “Interoperability! What interoperability? Oracle has fixed it!” Some new funding deals: CapitalRX raises $106 million; EnsoData raises $20 million; CareAcademy raises $20 million; and Inne raises $10 million; Boulder Care raises $35.7 million. Check out the AHIP Conference 2022 taking place in Las Vegas! We’ll be there! Tickets are $100 off with code THCB.
AHIP in Vegas next week. Not too late!!
If you want to come see the best of health plans and health tech aimed at them, plus try your hand at the craps tables, it’s not too too late to get a ticket to AHIP 2022 in Las Vegas next week! Plus meet Matthew Holt & Jess DaMassa as they tour/troll the exhibit hall and look for parties!. And you can still get $100 off if you use the code “THCB”
What’s Up, Docs
BY KIM BELLARD
Here’s how I’ll know when we’re serious about reforming the U.S. healthcare system: we’ll no longer have both M.D.s and D.O.s.
Now, I’m not saying that this change alone will bring about a new and better healthcare system; I’m just saying that until such change, our healthcare system will remain too rooted in the past, not focused enough on the science, and – most importantly – not really about patients’ best interests.
Let me make it clear from the outset that I have no dog in this hunt. I’ve had physicians who have been M.D.s and others who have been D.O.s, and I have no indication that there have been any differences in the care due to those training differences. That’s sort of the point: if there are no meaningful differences, why have both?
Continue reading…
