Wharton hcmg 867 401 preso 3-4-15 v upload
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Presentation to Wharton's Healthcare Entrepreneurship class on March 4, 2015. "So you want to be a digital health entrepreneur?"
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Wharton hcmg 867 401 preso 3-4-15 v upload
- 1. So you want to be a digital health entrepreneur? Chris Hogg Chief Operating Officer Propeller Health @cwhogg
- 3. “Can you imagine how awesome it would have been to be an entrepreneur in 1985 when almost any dot com name you wanted was available?”
- 4. We are still disconnected from our health
- 5. Being disconnected still leads to poor health
- 6. EMRs Sensors Smartphones Public Policy (ACA) The Great Convergence
- 7. Health is a Data Problem
- 8. 12/31/05 1/31/06 2/28/06 3/31/06 4/30/06 5/31/06 6/30/06 7/31/06 8/31/06 9/30/06 10/31/06 11/30/06 A medical record is a punctuated data stream PersonalHealthData
- 10. PersonalHealthData 12/31/05 1/31/06 2/28/06 3/31/06 4/30/06 5/31/06 6/30/06 7/31/06 8/31/06 9/30/06 10/31/06 11/30/06 EMR data + user generated/sensor data = a complete picture
- 11. Don’t underestimate the difficulty of making the data useful (and in workflow)
- 15. Molecular/cell biology Digital Health Entrepreneurship Pharma Commercial Strategy Healthcare Investment Banking
- 16. Opportunity is missed by most people because it is dressed in overalls and looks like work Thomas Edison
- 18. “Data as the next blockbuster drug”
- 20. Search ‘100plus vimeo’ for video
- 21. We did some things right at 100Plus…
- 23. Used data effectively in UX
- 25. We built a good product and built a good team (and did good PR)
- 26. And, we did some a lot of things wrong at 100Plus…
- 27. Medical / clinical is converging with health / wellness
- 28. Medical / clinical is converging with health / wellness
- 29. We didn’t obsess about user acquisition
- 30. Fought the Market (it tells you where to go)
- 32. I built a product, not a company
- 37. Propeller Health uses technology to help patients and providers better manage asthma and COPD
- 38. Propeller sensors passively capture information about the daily use of medications
- 40. So you want to be a digital health entrepreneur?
- 41. A few questions to ask yourself…
- 42. Are you in it for the fame, fortune and adventure? (be honest now)
- 43. What is your target market? (Wellness or Clinical, but not both)
- 46. Are you…. • A data creator • A data aggregator • A data analyzer • Providing a human-powered service?
- 48. Find a niche you can own
- 49. What is the right problem for you to solve?
- 51. Can you leverage existing proof it will work?
- 52. What existing tech trends can you apply to healthcare?
- 53. Synthesis
- 55. Disclaimer IDEAS
- 59. What is your Key Metric? …………………….Hospitalizations for mental health …………………Medication adherence ………………% of asthmatics who are controlled …………………% of users with >5% weight loss .…………………HbA1c
- 60. Engagement is not a Key Metric!
- 66. Measurably better respiratory health.Build a system that allows you to learn what works
- 67. Obsess about user acquisition from day one Brian Balfour coelevate.com
- 68. Iterate. Experiment. Learn. (User acquisition is your second product) Brian Balfour coelevate.com
- 71. Know your audience Make your product simple Make your product delightful Make your product meaningful Obsess about UX
- 72. • Meta-aggregators – An integration and communication layer around the EMR • Full verticals – Oscar, Adelaide, more coming • TeleMedicine / nurses / coaches – But not TeleDoc, more like Better for CF patients • Proliferation of sensors – But for what purpose? What is the UX – that’s the hard part
- 73. Technology is nothing. What’s important is that you have a faith in people, that they’re basically good and smart, and if you give them tools, they’ll do wonderful things with them. Steve Jobs