October 21, 2014 - The HealthTech Conference once again gathered around 500 of the brightest minds in Healthcare and Technology last week at the two-day event in San Mateo, CA. Hosted by Anne DeGheest and Don Ross of HealthTech Capital, the conference explored how to build sustainable HealthTech Businesses by bringing together the best minds from the existing healthcare stakeholders with investors and creative entrepreneurs. The yearly gathering convened HealthTech leaders to discuss the greatest industry pain-points and define best approaches to change healthcare delivery in the changing payment system and realignment of risk between employers, payers, providers, physicians and ultimately the consumers!
One of the major opportunities discussed by panelists was the need for increased collaboration between hospitals, established industry players and entrepreneurs to improve healthcare delivery models through technology innovation and partnerships. In line with this theme, HealthTech Conference hosted a Start-up Venture Competition intended to identify innovative companies that leverage technologies to change healthcare delivery, decrease cost and empower patients. Live at the event, three start-up founder finalists, Vitreous Health, Frame Health and iHuman Patients presented their companies and received feedback from the Venture Panel, including: Joel Krikston of Merck Global Health Innovation Fund, Wende Hutton of Canaan Partners, Casper de Clercq of Norwest Venture Partners and Jonathan Root of U.S. Venture Partners.
At the Healthtech Conference on October 15, 2014, Owen Tripp, Co-Founder and CEO of Grand Rounds will be joining our much anticipated panel, “Business Lessons Learned from Winners,” along with Bryan Roberts of Venrock, Jeff Tangney of Doximity, Peter Hudson of iTriage and Jeff Arnold of ShareCare, WebMd.
What makes a winner? This panel will discuss how to build companies from the idea stage to a sustainable revenue model. HealthTech companies have high market risk and there are a number of factors to consider to ensure success. Who are the stakeholders? Who will pay? How do you best iterate, quickly, to define the right value proposition? Why is it one of the greatest challenges to explore new and unproven revenue models in a changing payment system? What is the best time to partner to scale up? What are the pitfalls and hard lessons learned in scaling up too quickly?
HealthTech and Digital Health investment doubled in 2013 to over $2 billion. That’s enough to prove that the healthcare revolution of the century is definitely here bringing massive changes that are affecting healthcare providers and payers alike. You just have to look at the transition from fee for services to value-based healthcare delivery services to know we’ve arrived at the age of Retail Medicine with the growing empowerment of patients.
Above: Anne DeGheest, Founder & Managing Director, HealthTech Capital
“Right now, there is a tsunami of opportunities to create very disruptive healthcare companies. The country is re-shaping its largest industry, and it’s the biggest experiment we’ve ever done with the American economy.”
With other epic changes in our healthcare system — things such as accountable care organization and public or private health insurance exchanges — there are massive opportunities to develop new tools and services to provide better healthcare anywhere and at lower cost. The practical issues are how to successfully grow a sustainable HealthTech business.