More from Digital Health In Context 2015….
Ian Goldstein moderates a panel comprising:
- Coline Beirne – Two Sigma Ventures
- David Drahms – Osage Venture Partners
- Evan Nicholas – Susquehanna Growth Equity
Osage focuses on early stage (Series A) B-2-B operations on the East Coast. Typical investment is in the region of $2M.
Susquehanna focuses on Healthcare investments that deal with existing processes. They avoid behavior change. Very focused on Consumer side of business. US, Europe and Israel investing in businesses with $5-75M Revenue.
Biotech requires specialist investment experience and large capital funds. B-2-B and Software is an easier proposition.
Evan Nicholas “ Healthcare technology is cheap” to invest in.
Most of the top 10 investors (at HIMSS) are non-traditional investors. A lot of innovation is coming in to Healthcare.
Change is happening – despite regulatory constraints.
Evan – Real data driven cost and transparency solutions will emerge.
Patients are becoming consumers.
David D – Providers being reimbursed on outcomes will change the interaction with patients. This will also drive the infrastructure layer. Bring Your Own Device, Mobility and other factors raise the cost of operation and need to be addressed.
Colin B – Healthcare has been remiss in not monitoring results and testing new hypothesis outside of the hospital and research setting.
Ian G – what are the roadblocks to freeing the data?
Colin B: HIPAA – Security. The volume of hacks are increasing. Security needs to be embedded from day one.
David D: Technologies that allow data extract. People do what they are incentivized to do.
Evan N: Providers don’t know what they want from the data. Change in the payments model will force change. The data has always been there.
David D: Instamed in PA. Providing real-time payment adjudication and processing. Giving patients visibility to costs. Providers process payments more quickly and Payers reduce back office administration costs.
Colin B: Symcat (Baltimore) Translates symptoms, searches databases and helps rank the potential causes. They also follow up and use the outcomes to improve the search algorithms.
Evan N: Telemedicine suites are too limited. Solutions need to extend beyond traditional telehealth. Pager (NY) Triages via registered nurse. results could be a Telehealth visit, a prescription, an in-house visit (within 30 minutes) or a visit to the ER. In home care should not be as expensive as concierge medicine has been.
Q: What has been the effect of the Affordable Care Act?
David D: It has caused massive investment and lots of innovation.
Even repeal will see effects stay such as High Deductible Plans.
Colin B: The main impact of repeal would be confusion and delay.
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[tag health, cloud, BlueButton, opendata]
Health & Cloud Technology Consultant
Mark is available for challenging assignments at the intersection of Health and Technology using Big Data, Mobile and Cloud Technologies. If you need help to move, or create, your health applications in the cloud let’s talk.
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I am currently HHS Entrepreneur-in-Residence working on an assignment to update BlueButton for Medicare Beneficiaries.
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