7. THE TEAM
Mima Geere
Arman Jahangiri
Mitchell Geere
UCSF Clinical Lab Medicine
MD, MS
Data, Ops, Partnerships
UCSF Neurosurgery
MD, Phd
Users, Research System
Product Design & Technology
MBA in Design Strategy
Design, Technology
Kristen Bova
Nima Anari
Brandi Castro
UC Berkeley
MBA, MPH
Customers, Contracts
UC Berkeley
PhD
NLP Data Science
UCSF Neurosurgery
MD
Users, Marketing, Data
8. THE EXPERTS
LABORATORY
CLINIC
INDUSTRY
Dr. Tim Hamill
Dr. Lee Balance
Jeff Tangney
UCSF Laboratories Director
KPMG, CME Advisor,
Pharmacy Innovations
Co-Founder of Epocrates
Founder & CEO Doximity
Dr. Vivek Garg
Elaine Allen
OneMedical, Medical Director
Biostatistician
Founder of Metaworks
ACO
Chris Seaman
Dr. Charles Chiu
UCSF Molecular & Genomic
Tests Director
Dr. Kitch Wilson
Stanford Molecular Pathology
Fellow
Dr. Mike Angelo
Stanford Clinical Pathology
Data Scientist, Atlassian
Dr. Ami Parekh
Commercial ACO Contracts
Betty Kayton
Finance
Founding CFO, Dropbox
9. WE STARTED BROAD
CUSTOMER SEGMENTS
Physicians
Payers
ACOs
EMRs
Hospital Labs
REVENUE STREAMS
Hospital Contracts
Doctor Subscriptions
Licensing API
10. WHAT WE DID
112 TOTAL INTERVIEWS
85 PROVIDERS 9 PAYERS
Fellows
Residents
Med Students
Nurses
Attending
Physicians
Oncologists
OBGYN
Peds
Hospital Med
PCP
Surgery
Blue Shield of CA
Keenan Associates
United Health West
HealthNet
Hill Physicians Group
(ACO)
Highland Hospital
Kaiser
Meritage Medical
Network
9 LABS
7 PARTNERS
UCSF
Stanford
CardioDx
Seven Bridges
Genomics
OneMedical
Invitae
23andMe
Verinata
Doximity
Eligible API
Practice Fusion
Castlight Health
HealthCare Blogs
ZS Associates
2 CHANNELS
McKesson
PracticeFusion
11. LESSON 1: CUSTOMER SEGMENTS
Week 2
LLP COURSE 10 WEEKS
Defined our customers.
We thought we had a 5-sided market.
Interviewed 45 customers
Two groups care the most.
Physician Users and Laboratories
2 Sided Market
12. LESSON 2: CHANNELS
Week 3
LLLLPP C O U R SSEE 180 W EEEEKKSS
COUR
W
Defined our Channels.
Discovered importance of word of
mouth with marketing to doctors.
Synthesized list of networks.
Over 400 personal physician contacts.
13. LESSON 3: VALUE PROPOSITION
Week 4
L L P C O U R S E 8 W ELLLPPSC O U R SSEE 180 W EEEEKKSS
LEK COUR
W
Product Market Fit.
Physicians needed our product.
Labs needed our product.
Synthesized common pain points.
Evidence to providers
Cost Info
Lab-specific collection info
Turnaround Time
Guidelines and Preferences
Feature implementation.
14. LESSON 4: KEY ACTIVITIES
Week 7
L L P C O U R S E 8 W ELLLPPSC O U R SSEE 180 W EEEEKKSS
LEK COUR
W
Defined a viable business opportunity.
Interviewed 5 specialty labs
Specialty labs needed our
product to gain payer coverage.
Data Storage
Lab dashboard for updates
Orders & Billing
Evidence Package
Clinical Efficacy: User interest
Product Strategy.
15. LESSON 5: KEY PARTNERS
Week 8
L L P C O U R S E 8 W ELLLPPSC O U R SSEE 180 W EEEEKKSS
LEK COUR
W
Second Pilot in process.
Interviewed 3 more large hospital labs.
Requested demo pitch to key decision
makers.
Early Revenue Strategy.
17. THE OPPORTUNITY
LABORATORY
SALES AND MARKETING SPEND
Molecular and Genetic CLIA Labs
$18 B
(7500 total projected)
(2.5M)
Specialty CLIA Labs
(525 labs)
$1.3B
Target Specialty Labs
$375M
(150 labs)
18. THE TIMELINE
Investor Readiness IRL7
$ 1.5M SEED
TODAY
STAGE 1
M 1-6
STAGE 2
M 7-12
STAGE 3
M 12-18
EVIDENCE & COST ENGINE
USER ACQUISITION
Beta release
Users
Specialty Lab Contracts
Molecular and Genetics Lab Tests
Orders/Billing
Risk Baring Providers
19. THE FUTURE
Progress
Raised 75K, SBIR submitted
Alpha Built
Rockhealth Finalists
2 Academic Pilot collaborations
We will pursue ResultCare.
What’s next
Beta release
User acquisition
20. THANK YOU
C H A N G I N G T H E D I A G N O S T I C T E S T I N G M A R K E T.
TA K I N G T H E G U E S S W O R K O U T O F M E D I C I N E .
Notas do Editor
I want to thank you for allowing us to share our journey with you. Now, this journey started on a very personal level for me and transformed into a common vision with a group of people working passionately to take the guesswork out of medicine. This is the mission of our company ResultCare
While I was training in med learning about cancer and breast cancer in the lab, mom was diagnosed with run of the mill breast cancer. Any one of us could get this.
----- Meeting Notes (12/9/13 20:37) -----3 months later tramatic brain injury fell down the stairs and was in the ICU forseveral weeks false pos testled to 6 months of unnecessary treatments which meant being in and out of the hospital, self injecting with dangerous blood thinnersPCP had never seen such a complicated case and was not aware of recent literature
----- Meeting Notes (12/9/13 20:37) -----how could these two systems coexistthere had to be middle ground where we were practicing evidence based mediccien with increased accuracy to provide better patient care
Provider is innodated with too much to do and too little tests. Growing market of direct to consumer molecular and genetic tests. Increasing strain on the provider with more tests that the provider doesn’t know about. End result is it is easier to click and order than it is to look up the literature. It is easier to give the patient what they want.Payers and hospitals are upset because they order tests that are medically unnecessary and they are left with the bill.
----- Meeting Notes (12/9/13 20:37) -----complex problem and you need the best team to do this
Product design, business, datascience, research and medicine
We aren’t solving this problem alone. We are backed by people who have done this for 20+ years. They are not only advisors but some are investors in the company.
With all the education on our team we had no idea how to approach this problem in a focused business savvy way and were very naiive in what we could achieve
We interviewed a gamut of people throughout the course. Please allow me to share with you our journey through the class learning from the lessons of Steve Blank and Abhas Gupta.
Physicians have been looking for a way to access lab information, and labs have been looking for a way to get their info out to physicians
Not all labs are the same. Group of specialty labs that did molecular and genetic tests that were struggling. They REALLYneeded our product to gain payer coverage and were willing to pay for it.
Oncologists, rhematologists, ortho, infectious disease; 10-15K in first 18 months to 2 years; 50K in first 2-3 years; doximity – 100K users in the first 18monthsCardiodx – 50,000 orders, $250-$500K, 20 sales reps, $150/test; $2.5M lossAvg molecular tests $500 (actually $2-5K) – 5% per order; 8M molecular testsPharma spends 200M on internet marketing alone in US per yearLabs spend 5M on sales people to get 50K tests per year so that’s $100 spent per test on sales costs. Average test costs $500We propose 5% of every transaction/test order with a volume of average 20K per test per labTotal volume of molecular tests is 8M at average price of $500 per test = $4B and we take 5% = 200M SAMWe estimate with 50K users (1/16 of total user market of 800K) we will have 1/16 of volume at 500,000 orders each at price of avg $500 per test = 250M – 12.5M from orders