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Health in 2 Point 00 Episode 59

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Today on Health in 2 Point 00, Jess interviews me all the way from London. In this episode, she asks me about Google, who hired Geisinger CEO David Feinberg to lead its health care initiatives, Driver, a startup which ran out of money just weeks after their launch, and HealthifyMe, which has recently raised $6 million.

Jess also tells me about her recent trip to Berlin for Frontiers Health. Apparently, there’s a lot that the U.S. can learn from European startups, which have mastered regulatory and really understand how to plug what they’ve got right into pharma. Next, we’re headed to Tokyo for Health 2.0 Asia – Japan, so catch us there on December 4-5. ––Matthew Holt 

Health in 2 Point 00 Episode 58

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Today on Episode 58 of Health in 2 Point 00, Jess and I have more to share from Exponential Medicine, but this time we’re at the Health Innovation Lab checking out all of the startups. In this episode, Jess and I talk to Meghan Conroy from CaptureProof about decoupling medical care from time and location, Care Angel‘s Wolf Shlagman about the world’s first AI and voice powered virtual nursing assistant, and highlight Humm’s brain band which improves working memory, concentration, and visual attention. We leave you with some parting words from Godfrey Nazareth: “Let’s set the world on fire. Let’s change the world, with love.” -Matthew Holt 

HealthTech Investing: Venrock’s Kocher & Roberts Bet on Platforms

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By JESSICA DA MASSA, WTF Health

“Healthcare is a journey for patients. Just helping them with one piece of it — it just doesn’t get the job done…”

That’s Brian Roberts of Venrock talking about how he and Bob Kocher have moved on from investing in one-trick-pony health tech point solutions. What are they favoring now? Well, they’re not alone in seeking out platforms…especially those that solve big work flow, patient journey, or systems issues.

The underlying motivator here is, of course, money. Or rather, as Roberts puts it, the fact that “no one in the healthcare system makes any real money.”

ROI is different in healthcare. And they encourage startups — and those health systems, health plans, and provider groups that buy their solutions — to really consider what that means.

Kocher explains that what’s often overlooked is how quickly relationships turn over in healthcare. Patients can change insurance plans every year, or they may switch doctors or hospitals based on when they can get an appointment. This thwarts development of any real customer loyalty, and worse for startups, creates a situation where they need to prove tangible cost savings or increased revenue in a short 1-2 years.

What’s an entrepreneur or investor to do? Listen in for more ROI talk and advice for pivoting a point solution startup.

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. Filmed at Health Datapalooza in Washington DC, April 2018.

Livongo CEO Glen Tullman’s Advice for Startups

By JESSICA DA MASSA, WTF Health

If you’re a health tech startup, should you be building for your exit? Does that really lead to the greatest possible success for your business…if you know how to get out?

Here’s some advice from someone who should know. Glen Tullman is ‘the guy’ who took Allscripts public via a wildly successful IPO in the late-90s. He’s now the CEO of Livongo, a chronic condition management startup that rang in 2018 with a $105M mega-round raised internally among its current pool of investors – at more than two times the company’s previous valuation.

When I caught up with Glen earlier this year, it was just after his round closed, the company acquired Retrofit, and rumors had started swirling about Livongo going public. Needless to say, our conversation turned toward ‘the exit’ and I had the chance to ask what he would tell other startup founders about going IPO. What comes next is a passionate discourse about what it takes to not only exit – but raise and scale – a startup in healthcare. For being a money guy, Glen is no sell-out; young startups would be wise to take his two cents and invest them.

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. Filmed at HLTH in Las Vegas, May 2018.

What’s Next in Health Tech Investment? 500 Startups VC Marvin Liao Weighs In

By JESSICA DAMASSA

What do health tech investors think is ‘hot’ these days? Where is the money going? I ran into Marvin Liao, partner at 500 Startups (a VC fund/accelerator program that has made more than 2000 investments in early-stage tech startups over the past eight years) at ICEE Health in Bucharest, Romania, last month and had a chance to ask.

With refreshing candor, Marvin weighs in on whether or not digital therapeutics, mental health, and biotech have room to grow — and if Apple, Google, and Amazon really have the power to change the future of health.

Where is he most bullish? It’s no surprise I ran into him outside the US. He’s got his eyes on bleeding edge innovations coming out of foreign markets…especially Japan. Have a look!

Filmed at ICEE Health in Bucharest, Romania, June 2018. Find more interviews about health & technology at www.wtf.health. 

WTF Health | Kyruus co-founder, Julie Yoo

By JESSICA DAMASSA

WTF Health – ‘What’s the Future’ Health? is a new interview series about the future of health and how we love to hate WTF is wrong with it right now. Can’t get enough? Check out more interviews at www.wtf.health. 

They just raised another $10M and you should find out why….

I met up with Kyruus co-founder and chief product officer Julie Yoo at #HIMSS18 to hear about the #AI magic behind their ‘intelligent routing engine.’ Apparently, it does such an incredible job driving business into health systems by better matching patients to docs that some more funding is in order to help them expand!

So, where does Kyruus fit into the ‘big picture’ of health’s ‘big data’ movement? Julie’s beat on how AI implementation in healthcare is going gives you a pretty good idea.

The End Game–Live in Finland!

By Matthew Holt

some_1Today I am in Finland at the Vertical digital health accelerator, part of a really impressive network of accelerators and incubators in Helsinki. Tomorrow is the huge SLUSH festival at which I (plus Steven Krein of Startup Health) will be talking on Thursday. Today, I’m speaking and moderating a great seminar with excellent speakers at Vertical for the End Game.

The End Game is a thought leader seminar that finds answers to questions. The most insightful speakers from around the world will talk about digital health. Speakers include the Head of Health & Medical equipment division of Samsung France, the Head of Healthcare of Telia, and many others including Luis Barros VC expert from Boston.

 

The seminar is streaming live on www.endgame.fi on November 10th at 3pm Finnish time (8 am ET, 5 am PT) The video will also be available for later viewing.

TRACTION: Contest Deadline TODAY

By Jennifer David           Sponsored Content

tRACTION

Who will be the Startup Champion of Fall 2015? Traction is the perfect opportunity to hone your skills and impress these venture capitalists to invest in your startup!

Traction will be launching the Health 2.0 Annual Fall Conference on Monday, October 5, 2015 at 8 AM. This competition specifically recruits companies ready for Series A in the $2-12M range.

Enter your company TODAY and pitch your startup to venture capitalists, angel investors, government officials, and even healthcare industry experts. Increase media exposure while forming connections with leading investors, while gaining the opportunity to gain advice from over 30 mentors and experts to further refine your business model.

The application deadline is TODAY Friday, August 14th at 11:59 ET.

In early September, 10 teams will be selected as finalists for two different tracks: professional facing and consumer facing tools. Emerging live at the conference, the competition will grant these lucky finalists access to exceptional mentors and fight for the title of “Startup Champion.”

Apply today to be selected as one of the 10 finalists to pitch live at Health 2.0’s Annual Fall Conference!

And of course you can buy tickets to Traction as an add on to the Health 2.0 conference itself.

Jennifer David is a program manager at Health 2.0

Why Everything You Know About EHR Design Is Probably Wrong

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By Margalit Gur-Arie

Every time someone publishes an article or a paper or a blog post that has anything remotely to do with Electronic Health Records (EHR), there is usually a flurry of reactions in the comments section, now available in most publications, and these always include at least half a dozen anonymous statements, usually from clinicians, decrying the current state of EHR software, best summed up by a commenter on THCB: “It is the user interface stupid!… It has to be designed from the ground up to be an integral part of the patient care experience”. Can’t argue with that now, can you? Particularly when coming from a practicing physician.

And why argue at all? The user interface in any software product is the easiest thing to get right. All you need to do is apply some basic principles and tweak them based on talking to users, listening and observing them in their “natural habitat”. Having done exactly that, for an inordinate amount of time, and being aware that most EHR vendors were engaging in similar efforts, I found the growing discontent with EHR user interfaces somewhat inexplicable. The common wisdom in EHR vendor circles is that doctors are unique in how they work and whenever you have two doctors in a room, there are at least three different preferences in how the EHR should present itself. As a result, you will find that most mature EHRs have dozens of different ways of accomplishing the same thing. These are called “user preferences” and are as confusing as anything you’ve ever seen. Hence the notion that if you spend enough time configuring and customizing your EHR upfront, you will increase your chances of having a less traumatic EHR experience down the road. We were an industry like no other, doomed to build software for users with no common denominator, or so I came to believe, until one afternoon in the summer of 2006…..

Continue reading…

Interview:CareLogistics and Mercy St. Vincent

Matthew Holt interviews Ben Sawyer, Executive Vice President of CareLogistics, and Imran Andrabi, President and CEO of Mercy St. Vincent Medical Center, at the World Health Care Congress.