Realt time notes from the wrap up panel at Health 2.0 bob Kocher, Sr Fellow Brookings Institute moderating: - Don Casey, CEO west Wireless
- Esther Dyson, Chairman EDVenture Holdings
- Mitch Kapor, Kapo Capital
- Lisa Suennen, Managing Member, Psilos Group
- Bryan Roberts, Managing General Partner, Venrock Associates. We should be focusing on productivity. How can we help doctors see more patients. Esther - a difference between where money is being invested and where the money will be made. Lots of people investing in the same area. There will be a lot of consolidation.
Healthcare is a tough place for Product Features. A lot of products are just features. Success means solving a big problem. then need something that can scale.
Healthcare is a lot of little markets. Mitch Kapor is not currently investing in HealthCare. It is still early. The eco system is like an arrid desert. Innovation will take off when payment is aligned with getting people better. Don C: Who is going to pay? Where is the money? Going to the top of the wellness pyramid.
The large self insured are the ones invested in caring for people for the long term. Esther: Emerging place where there is a lot of money and diminishing returns is in Pharma. They need to work out how to get to consumers directly. They will shift to selling a lifestyle support program. They need something new to do. Lisa: The Consumer payment focus won't pay off. Don't rely on consumers. There is a lack of sophistication about payers. How do they fit in to the payment schema. Esther: Consumers don't want to pay for health care but there are things they will pay for - where it brings pleasure, convenience, lifestyle.
Don C: Capitatin where Consumers have to spend more dollars for health care they will demand more value. Mitch: If I wanted to make a lot of money today I would do something with medical marijuana
Bryan R: target something on the cost/quality contiunuum. These discussions vindicate the CareFirst approach CareFirst is taking with Primary Care Medical Home.
Esther: Peer pressure is something to harness. There is a market for good health . Not just sick care. Mitch: in silicon valley 50,000 is the new $5M. It means investors can take more bets. There is a sub-culture of innovation. This will effect everything including healthcare. There is a ton of data waiting for people to make sense of. A new golden age of innovation and investment. Lisa: A lot of new ideas are renamed old ideas.
Esther: huge differences. Sensors and Cell phones. User generated data.
What Mint did in finance someone will do in Healthcare. The industry needs to watch out. Bryan: Health Reform has set the playing fields for the next few years. People ar eon solid ground for the first time in a while. There is also a lot of aggressive entrepreneurs in the sector. There will be overfunding.
Don: Telecoms and Personal sensors will change everything. The physician community will consolidate in to larger groups. Lisa: we have to change the culture in the doctors office.
Don: Physicians have shifted in acceptance of the salaried model by a factor of 10%. From 15% to 25% in one year. What do you need to be successful with an Angel Investor. - Tell a great story. Why does it matter. How will it change things. Bring data to prove it. - Read the advice that is out there. Don't be clear about what you are saying . Be clear about what the other person is hearing. - How will you deal with a setback. Don't believe your own BS. - You want a great business model then add technology and add a great management team. - Be careful doing something that can be blocked by Incumbents.
Ron Guttman: How do we incent engineers to build great companies in Health Care. Esther: Unfortunately it requires someone in their family to get sick.
Bryan: Engineers will come together where Cost and Opportunity meet. Lisa: Health IT companies seem to take longer to mature and Mergers and Acquisition is the most likely exit.
- Esther Dyson, Chairman EDVenture Holdings
- Mitch Kapor, Kapo Capital
- Lisa Suennen, Managing Member, Psilos Group
- Bryan Roberts, Managing General Partner, Venrock Associates. We should be focusing on productivity. How can we help doctors see more patients. Esther - a difference between where money is being invested and where the money will be made. Lots of people investing in the same area. There will be a lot of consolidation.
Healthcare is a tough place for Product Features. A lot of products are just features. Success means solving a big problem. then need something that can scale.
Healthcare is a lot of little markets. Mitch Kapor is not currently investing in HealthCare. It is still early. The eco system is like an arrid desert. Innovation will take off when payment is aligned with getting people better. Don C: Who is going to pay? Where is the money? Going to the top of the wellness pyramid.
The large self insured are the ones invested in caring for people for the long term. Esther: Emerging place where there is a lot of money and diminishing returns is in Pharma. They need to work out how to get to consumers directly. They will shift to selling a lifestyle support program. They need something new to do. Lisa: The Consumer payment focus won't pay off. Don't rely on consumers. There is a lack of sophistication about payers. How do they fit in to the payment schema. Esther: Consumers don't want to pay for health care but there are things they will pay for - where it brings pleasure, convenience, lifestyle.
Don C: Capitatin where Consumers have to spend more dollars for health care they will demand more value. Mitch: If I wanted to make a lot of money today I would do something with medical marijuana
Bryan R: target something on the cost/quality contiunuum. These discussions vindicate the CareFirst approach CareFirst is taking with Primary Care Medical Home.
Esther: Peer pressure is something to harness. There is a market for good health . Not just sick care. Mitch: in silicon valley 50,000 is the new $5M. It means investors can take more bets. There is a sub-culture of innovation. This will effect everything including healthcare. There is a ton of data waiting for people to make sense of. A new golden age of innovation and investment. Lisa: A lot of new ideas are renamed old ideas.
Esther: huge differences. Sensors and Cell phones. User generated data.
What Mint did in finance someone will do in Healthcare. The industry needs to watch out. Bryan: Health Reform has set the playing fields for the next few years. People ar eon solid ground for the first time in a while. There is also a lot of aggressive entrepreneurs in the sector. There will be overfunding.
Don: Telecoms and Personal sensors will change everything. The physician community will consolidate in to larger groups. Lisa: we have to change the culture in the doctors office.
Don: Physicians have shifted in acceptance of the salaried model by a factor of 10%. From 15% to 25% in one year. What do you need to be successful with an Angel Investor. - Tell a great story. Why does it matter. How will it change things. Bring data to prove it. - Read the advice that is out there. Don't be clear about what you are saying . Be clear about what the other person is hearing. - How will you deal with a setback. Don't believe your own BS. - You want a great business model then add technology and add a great management team. - Be careful doing something that can be blocked by Incumbents.
Ron Guttman: How do we incent engineers to build great companies in Health Care. Esther: Unfortunately it requires someone in their family to get sick.
Bryan: Engineers will come together where Cost and Opportunity meet. Lisa: Health IT companies seem to take longer to mature and Mergers and Acquisition is the most likely exit.
