1. Team 09
Stephane Meystre
Jeremiah Jones
Greg Jones
Unlocking the unstructured data in the
Electronic Health Record, producing actionable
information
TAM of 900k users at $3.85B
Targeting 30k users at $60M
2. -2-
Team members
Stephane Meystre, C-level
• Physician, Faculty in Biomedical Informatics (U of Utah)
• Clinacuity, Inc. Founder and CEO
• Long experience with NLP and clinical narratives
Jeremiah Jones, Industry expert
• Engineer and MBA, Resident Venture Developer for U of
Utah
• Co-founded multiple businesses (Techuity, Sentius, Madra
...)
• Experienced business leader specialized in tech
commercialization
Greg Jones, PI:
• Engineer and MBA, Associate Director SCI and AVP for
Research
• Clinacuity, Inc. Director
• Extensive software dev, business creation and
commercialization
We talked to 106 customers (86 face-to-face)
Weekly average of about 12 interviews
5. -5-
What we did
We talked to > 100 potential customers or experts related to our
business:
19
Healthcar
e
executive
s
40
EHR
users
8
Vendors
23
Industry
executiv
es
16
R&D,
coder
s, etc.
6. -6-
What we did
We talked to > 100 potential customers or experts related to our
business:
19
Healthcar
e
executive
s
40
EHR
users
8
Vendors
23
Industry
executiv
es
16
R&D,
coder
s, etc.
7. -7-
LaunchPad Central
Va lu e Pr op osit ion s
Up to 20x faster patient chart
review
10x faster problem list entry
Lower risk of m issed inform ation
(5x m ore com plete problem list)
Meaningful use certification
com pliance (for the problem list)
Cu st ome r Re la t ion sh ip s
Personal assistance (sales &
support)
Cu st ome r Se g me n t s
EHR user - Hospital - Inpatient -
Specialist
EHR user - Hospital - Outpatient -
Specialist
EHR user - Hospital - Outpatient -
Prim ary care
EHR user - Hospital - Inpatient -
Prim ary care
CIO, CMIO
EHR user - Practice - Specialist
EHR user - Practice - Prim ary
care
EHR vendor busdev (as optional
feature)
Case m anagers/Coders
Ch a n n e ls
Sales force
Partners (EHR vendors/resellers)
What we did: Value Proposition
8. -8-
What we found: Value Proposition for EHR users
• Obtaining a complete overview of a a patient takes far too
long from at least 10 minutes to …“a complex patient
sometimes takes up to 1 week to review!”
• Maintaining the problem list is too time-consuming
9. -9-
What we found: Value Proposition for EHR users
• Obtaining a complete overview of a a patient takes far too
long from at least 10 minutes to …“a complex patient
sometimes takes up to 1 week to review!”
• Maintaining the problem list is too time-consuming
10x faster
coded
problem entry
up to 25x faster
patient chart
review
10. -10-
What we found: Value Proposition for EHR users
• Obtaining a complete overview of a a patient takes far too
long from at least 10 minutes to …“a complex patient
sometimes takes up to 1 week to review!”
• Maintaining the problem list is too time-consuming
10x faster
coded
problem entry
up to 25x faster
patient chart
review
VPs each validated by more than 30 potential customers: This
would be big! …Could be enormously valuable! …Would be
very valuable …Would be most useful! …etc.
11. -11-
What we did: Value Proposition for EHR users
Automatically extracts problems and allergies in real-time from
all narrative text documents in the EHR
Congestive heart failure
Renal insufficiency
Allergy to cephalosporins
CliniWiz
14. -14-
LaunchPad Central
Va lu e Pr op osit ion s
Up to 20x faster patient chart
review
10x faster problem list entry
Lower risk of m issed inform ation
(5x m ore com plete problem list)
Meaningful use certification
com pliance (for the problem list)
Cu st ome r Re la t ion sh ip s
Personal assistance (sales &
support)
Cu st ome r Se g me n t s
EHR user - Hospital - Inpatient -
Specialist
EHR user - Hospital - Outpatient -
Specialist
EHR user - Hospital - Outpatient -
Prim ary care
EHR user - Hospital - Inpatient -
Prim ary care
CIO, CMIO
EHR user - Practice - Specialist
EHR user - Practice - Prim ary
care
EHR vendor busdev (as optional
feature)
Case m anagers/Coders
Ch a n n e ls
Sales force
Partners (EHR vendors/resellers)
What we found: Customer Segments
15. -15-
What we found: Customer Segments
Complex customer segments in healthcare organizations
Physicians,
NPs, PAs
User
16. -16-
What we found: Customer Segments
Complex customer segments in healthcare organizations
Physicians,
NPs, PAs
EHR Liaison
CMIO,
Tech.
Assess.
Committee
Physician
Leaders
CIO,
IT committee
Finance
Director
CFO COO
Purchasing,
Legal
ITS
Decision-Maker
Economic Buyer
Saboteur
Influencer
User
17. -17-
What we found: Customer Segments
Complex customer segments in healthcare organizations
Physicians,
NPs, PAs
EHR Liaison
CMIO,
Tech.
Assess.
Committee
Physician
Leaders
CIO,
IT committee
Finance
Director
CFO COO
Purchasing,
Legal
ITS
Decision-Maker
Economic Buyer
Saboteur
Influencer
User
Inpatient -
Specialist
Inpatient –
Medicine/Ped.
Outpatient –
Specialist
Outpatient –
Primary care
18. -18-
What we found: Customer Segments
Complex customer segments in healthcare organizations
Physicians,
NPs, PAs
EHR Liaison
CMIO,
Tech.
Assess.
Committee
Physician
Leaders
CIO,
IT committee
Finance
Director
CFO COO
Purchasing,
Legal
ITS
Decision-Maker
Economic Buyer
Saboteur
Influencer
User
Inpatient -
Specialist
Inpatient –
Medicine/Ped.
Outpatient –
Specialist
Outpatient –
Primary care
19. -19-
What we found: Customer Segments
Customer archetype: Inpatient EHR user –
Specialist Interventional Radiologist
Male, 40-65 years old
Attending physician, specialist
Not the buyer, but the
champion
Motivations: Less time using
EHR and more with patient;
Easy clinical documentation;
High risk patient care; See
more patients; Optimize
revenue.
Influenced by: Department
chair, Peers, Scientific
knowledge (journals, web)
20. -20-
EHR integration partner (e.g., Sansoro Health)
Provider of clinical data (for training and testing)
e.g., hospital
EHR vendor
Financial m anagem ent
Software developm ent and testing
AI/NLP developm ent and testing
Custom integrations
Custom er engagem ent and support
Ke y Re sou r ce s
Software developers
IP rights
EHR integration
Com puting pow er (IaaS)
Sales and Field Engineers
What we found: Key Resources
23. -23-
LaunchPad Central
Ke y Pa r t n e r s
EHR integration partner (e.g., Sansoro Health)
Provider of clinical data (for training and testing)
e.g., hospital
EHR vendor
Ke y Act ivit ie s
Financial m anagem ent
Software developm ent and testing
AI/NLP developm ent and testing
Custom integrations
Custom er engagem ent and support
Ke y Re sou r ce s
Software developers
IP rights
EHR integration
Com puting pow er (IaaS)
What we found: Key Partners
24. -24-
Integration with commercial EHRs:
Partners for integration and sales channels:
What we found: Key Partners
End user (EHR user)
Buyer
(CFO,
CIO)
Epic App
Store?
Development and Channel
partner
R&D,G&A
,S
Profit Reseller
fee
[30%]
Discount
[10%]
$15,000 $15,00
0
$15,000 $5,000
Final price: $45,000
25. -25-
Here is what we will do next
• The pain is more severe than we thought
• This is a viable business, and we plan to
pursue as a “GO with minimal pivot”
• Next step is STTR Phase II grant application, with
– Further business model investigation and refinement
– Integration into an EHR (Epic EpicCare, with Sansoro Health, at
the Huntsman Cancer Institute and University of Utah Hospital)
– Improvement of accuracy and processing speed
– Improvement of generalizability and adaptability
– Development of an advanced visualization interface for the local
adaptation of the system
– Code review, robustness, and delivery improvements
– Market analysis and communication
27. -27-
LaunchPad Central
Ke y Pa r t n e r s
EHR integration
partner
(TransformativeMed
Cloud-based
computing (e.g.,
Amazon EC2)
Provider of
clinical data (for
training and
Ke y Act ivit ie s
Software
development
Installation and
local adaptation
Evaluation and
testing
Va lu e Pr op os it ion s
Complete rapid
overview of
patient facts
Improved
convenience and
usability to
Improved
performance with
faster problem
Lower risk of
missed
information
Meaningful use
certification
support
Cu s t om e r Re la t ion s h ip s
Personal
assistance (sales
& support)
Cu s t om e r Se g m e n t s
Hospital EHR
users
Physician group
EHR users
CIO, CMIO
Case
managers/Coders
Clinical trial
researchers
Retrospective
clinical
researchers
EHR vendors (as
optional feature)
Ke y Re s ou r ce s
Software
developers
IP rights
EHR integration
Computing power
Ch a n n e ls
Sales force
Partners (EHR
vendors/resellers)
Cos t St r u ct u r e
Software development (HR)
Installation and support (HR)
License royalties
Re ve n u e St r e a m s
Sale (fixed price determined by install. size, savings,
and avoided penalties)
Service fee (installation, local adaptation, support)
Royalties
Sublicense fees
Business Model Canvas Evolution - 2
28. -28-
LaunchPad Central
Ke y Pa r t n e r s
EHR integration
partner
(TransformativeMed
Cloud-based
computing (e.g.,
Amazon EC2)
Provider of
clinical data (for
training and
EHR vendor
Ke y Act ivit ie s
Software
development
Installation and
local adaptation
Evaluation and
testing
Va lu e Pr op os it ion s
Enable up to
20x faster
patient chart
10x faster
problem list entry
Lower risk of
missed
information (5x
Meaningful use
certification
compliance (for
Cu s t om e r Re la t ion s h ip s
Personal
assistance (sales
& support)
Cu s t om e r Se g m e n t s
Hospital EHR
users
Physician group
EHR users
CIO, CMIO
Clinical trial
researchers
EHR vendor
busdev (as
optional feature)
Retrospective
clinical
researchers
Case
managers/Coders
Ke y Re s ou r ce s
Software
developers
IP rights
EHR integration
Computing power
Ch a n n e ls
Sales force
Partners (EHR
vendors/resellers)
Cos t St r u ct u r e
Software development (HR)
Installation and support (HR)
License royalties
Re ve n u e St r e a m s
Sale (fixed price determined by install. size, savings,
and avoided penalties)
Service fee (installation, local adaptation, support)
Royalties
Sublicense fees
Business Model Canvas Evolution - 3
30. -30-
LaunchPad Central
Ke y Pa r t n e r s
EHR integration
partner
(TransformativeMed
Provider of
clinical data (for
training and
EHR vendor
Ke y Act ivit ie s
Financial
management
Software
development and
testing
AI/NLP
development and
testing
Custom
integrations
Customer
engagement and
support
Freedom to
operate and IP
protection
Va lu e Pr op os it ion s
Enable up to 20x
faster patient
chart review
10x faster
problem list entry
Lower risk of
missed
information (5x
Meaningful use
certification
compliance (for
Cu s t om e r Re la t ion s h ip s
Personal
assistance (sales
& support)
Cu s t om e r Se g m e n t s
EHR user -
Hospital -
Inpatient -
EHR user -
Hospital -
Inpatient -
EHR user -
Hospital -
Outpatient -
EHR user -
Hospital -
Outpatient -
EHR user -
Practice - Primary
care
EHR user -
Practice -
Specialist
CIO, CMIO
EHR vendor
Ke y Re s ou r ce s
Software
developers
IP rights
EHR integration
Computing power
(IaaS)
Sales and Field
Engineers
AI/NLP
scientists
Ch a n n e ls
Sales force
Partners (EHR
vendors/resellers)
Cos t St r u ct u r e
Software development (HR)
Installation and support (HR)
License royalties
Re ve n u e St r e a m s
Sale (fixed price determined by install. size, savings,
and avoided penalties)
Service fee (installation, local adaptation, support)
Royalties
Sublicense fees
Business Model Canvas Evolution - 5
31. -31-
LaunchPad Central
Ke y Pa r t n e r s
EHR integration
partner (e.g.,
TransformativeMed
Provider of
clinical data (for
training and
EHR vendor
Ke y Act ivit ie s
Financial
management
Software
development and
testing
AI/NLP
development and
testing
Custom
integrations
Customer
engagement and
support
Freedom to
operate and IP
protection
Va lu e Pr op os it ion s
Enable up to 20x
faster patient
chart review
10x faster
problem list entry
Lower risk of
missed
information (5x
Meaningful use
certification
compliance (for
Cu s t om e r Re la t ion s h ip s
Personal
assistance (sales
& support)
Cu s t om e r Se g m e n t s
EHR user -
Hospital -
Inpatient -
EHR user -
Hospital -
Outpatient -
EHR user -
Hospital -
Outpatient -
EHR user -
Hospital -
Inpatient -
EHR user -
Practice -
Specialist
EHR user -
Practice - Primary
care
CIO, CMIO
EHR vendor
Ke y Re s ou r ce s
Software
developers
IP rights
EHR integration
Computing power
(IaaS)
Sales and Field
Engineers
AI/NLP scientists
HIPAA-
compliant data
store
Ch a n n e ls
Sales force
Partners (EHR
vendors/resellers)
Cos t St r u ct u r e
Software development (HR)
Installation and support (HR)
License royalties
Re ve n u e St r e a m s
Sale (fixed price determined by install. size, savings,
and avoided penalties)
Service fee (installation, local adaptation, support)
Royalties
Sublicense fees
Business Model Canvas Evolution - 6
32. -32-
LaunchPad Central
Ke y Pa r t n e r s
EHR integration
partner (e.g.,
Sansoro Health)
Provider of
clinical data (for
training and
EHR vendor
Ke y Act ivit ie s
Financial
management
Software
development and
testing
AI/NLP
development and
testing
Custom
integrations
Customer
engagement and
support
Freedom to
operate and IP
protection
Va lu e Pr op os it ion s
Up to 20x
faster patient
chart review
10x faster
problem list entry
Lower risk of
missed
information (5x
Meaningful use
certification
compliance (for
Cu s t om e r Re la t ion s h ip s
Personal
assistance (sales
& support)
Cu s t om e r Se g m e n t s
EHR user -
Hospital -
Inpatient -
EHR user -
Hospital -
Outpatient -
EHR user -
Hospital -
Outpatient -
EHR user -
Hospital -
Inpatient -
EHR user -
Practice -
Specialist
EHR user -
Practice - Primary
care
CIO, CMIO
EHR vendor
Ke y Re s ou r ce s
Software
developers
IP rights
EHR integration
Computing power
(IaaS)
Sales and Field
Engineers
AI/NLP scientists
HIPAA-compliant
data store
Ch a n n e ls
Sales force
Partners (EHR
vendors/resellers)
Cos t St r u ct u r e
Software development (HR)
Installation and support (HR)
License royalties
Re ve n u e St r e a m s
Sale (fixed price determined by install. size, savings,
and avoided penalties)
Service fee (installation, local adaptation, support)
Royalties
Sublicense fees
Business Model Canvas Evolution - 7
33. -33-
LaunchPad Central
Ke y Pa r t n e r s
EHR integration
partner (e.g.,
Sansoro Health)
Provider of
clinical data (for
training and
EHR vendor
Ke y Act ivit ie s
Financial
management
Software
development and
testing
AI/NLP
development and
testing
Custom
integrations
Customer
engagement and
support
Freedom to
operate and IP
protection
Va lu e Pr op os it ion s
Up to 20x
faster patient
chart review
10x faster
problem list entry
Lower risk of
missed
information (5x
Meaningful use
certification
compliance (for
Cu s t om e r Re la t ion s h ip s
Personal
assistance (sales
& support)
Cu s t om e r Se g m e n t s
EHR user -
Hospital -
Inpatient -
EHR user -
Hospital -
Outpatient -
EHR user -
Hospital -
Outpatient -
EHR user -
Hospital -
Inpatient -
CIO, CMIO
EHR user -
Practice -
Specialist
EHR user -
Practice - Primary
care
EHR vendor
Ke y Re s ou r ce s
Software
developers
IP rights
EHR integration
Computing power
(IaaS)
Sales and Field
Engineers
AI/NLP scientists
HIPAA-compliant
data store
Ch a n n e ls
Sales force
Partners (EHR
vendors/resellers)
Cos t St r u ct u r e
Software development (HR)
Installation and support (HR)
License royalties
Re ve n u e St r e a m s
Sale (fixed price determined by install. size, savings,
and avoided penalties)
Service fee (installation, local adaptation, support)
Royalties
Sublicense fees
Business Model Canvas Evolution - 8
34. -34-
LaunchPad Central
Ke y Pa r t n e r s
EHR integration
partner (e.g.,
Sansoro Health)
Provider of
clinical data (for
training and
EHR vendor
Ke y Act ivit ie s
Financial
management
Software
development and
testing
AI/NLP
development and
testing
Custom
integrations
Customer
engagement and
support
Freedom to
operate and IP
protection
Va lu e Pr op os it ion s
Up to 20x
faster patient
chart review
10x faster
problem list entry
Lower risk of
missed
information (5x
Meaningful use
certification
compliance (for
Cu s t om e r Re la t ion s h ip s
Personal
assistance (sales
& support)
Cu s t om e r Se g m e n t s
EHR user -
Hospital -
Inpatient -
EHR user -
Hospital -
Outpatient -
EHR user -
Hospital -
Outpatient -
EHR user -
Hospital -
Inpatient -
CIO, CMIO
Ke y Re s ou r ce s
Software
developers
IP rights
EHR integration
Computing power
(IaaS)
Sales and Field
Engineers
AI/NLP scientists
HIPAA-compliant
data store
Ch a n n e ls
Sales force
Partners (EHR
vendors/resellers)
Cos t St r u ct u r e
Software development (HR)
Installation and support (HR)
License royalties
Re ve n u e St r e a m s
Sale (fixed price determined by install. size, savings,
and avoided penalties)
Sale (variable price, as portion of additional revenue)
Service fee (installation, local adaptation, support)
Royalties
Business Model Canvas Evolution - 9
35. First Pass Canvas
Low Fidelity MVP
Product/Market Fit
Left-side of the Canvas
Market Opportunity
High Fidelity MVP
Metrics That Matter
Right-side of the Canvas
Problem/Solution validation
Investment Readiness Level – Where we started
IRL 2
36. Investment Readiness Level – Where we ended
First Pass Canvas
Low Fidelity MVP
Product/Market Fit
Left-side of the Canvas
Market Opportunity
High Fidelity MVP
Metrics That Matter
Right-side of the Canvas
Problem/Solution validation
IRL 6-7
P
P
P P P P
PP
Notas do Editor
4 ney: 2 don’t use the PL, 1 has someone else enter the data (nurse), 1 already developed his own tool to select codes faster
Mention this was a functioning system
Say that WE discovered this ecosystem
Briefly: not considered as medical device
Pause after this one
Indirect channels, with partners
(example for 50 users hospital yearly fee)
Validated hypotheses in most Canvas building blocks