Posts from hacking healthcare

Business Model Innovation in Healthcare

Naomi posted some thoughts on changing business models in health care on the USV blog yesterday.

The one that I am personally most excited about is what Naomi calls “change of venue” and within that I like the “virtual primary care” model.

A pure virtual primary model eliminates fixed costs associated with brick and mortar expansion and is able to focus resources on reaching more patients, recruiting more doctors to their platform, and improving the experience for current patients. Payments on a subscription basis allow doctors to get paid more consistently rather than waiting for insurance companies to process claims and paying overhead costs to negotiate reimbursements with their billing offices.

We have portfolio companies executing this model like Nurx and Modern Fertility and we hope to add more.

I value the doctor/patient relationship, but I think there is a lot technology can do to make that relationship less expensive, more engaging, and more convenient (for both parties). And generational changes in doctors and patients are catalyzing and facilitating this transition.

#hacking healthcare

Audio Of The Week: The Changing Nature Of Women's Healthcare

One of the themes we are deeply bought into at USV in our approach to healthcare investing is the opportunity in women’s health care, particularly providing care to young and healthy women. Our portfolio companies Nurx, Clue, and Modern Fertility are all doing that.

This podcast, which I listened to earlier this week, is a discussion of exactly that opportunity and features Hans Gangeskar, CEO of Nurx, and Carolyn Witte, CEO of AskTia.

#hacking healthcare

The Unbundling Of Health Care

Naomi Shah, one of our analysts at USV, has been doing a deep dive on health care since she joined us this past spring.

She has started to publish a series of blog posts on what she has learned and what she thinks is investable at the intersection of healthcare and consumer tech.

Kind of like putting our playbook on display before we have even implemented it.

But that is how we roll at USV.

At least this way, we get feedback and input on these sector theses which ultimately make them even better.

And we get a lot of incoming pitches from entrepreneurs working in our target areas as a result of making our playbooks public.

She starts off her series with a post on the unbundling of health care and compares it to what has happened in financial services.

Naomi ends this post with this observation:

these observations seem to indicate some unbundling of the existing large, monolithic systems in healthcare towards a more open, local, independent and transparent model, with control residing with individual users. And ultimately, this could change the way healthcare is delivered to consumers.

“A more open, local, independent and transparent model, with control residing with the individual users” sounds exactly what we like to invest in at USV so expect to see more investing in health care from us and more posts from Naomi. You can find her posts on USV.com and/or follow Naomi here.
#hacking healthcare

Funding Friday: #istandwithpp

UPDATE: This campaign has been fully funded. Thanks everyone who donated and shared on social media.

Our monthly match campaign for Planned Parenthood, which we launched yesterday late morning has raised half of its target as of this morning.

The match offer is open until midnight pacific time tonight or until we reach our $30k goal.

Please go make a donation and tweet it out to be matched.

Thanks!!!

 

#hacking healthcare#policy#Politics

Monthly Match: Planned Parenthood

The House is planning to vote today on a bill that will repeal Obamacare.

Included in that bill is a provision that would prohibit Medicaid from paying for services from Planned Parenthood.

Planned Parenthood is an organization dedicated to women’s reproductive health and more broadly women’s healthcare.

It does fantastic work and provides treatment for women who cannot get it otherwise.

Our monthly match efforts are designed to combat the efforts in Washington to undo things that are near and dear to us.

And Planned Parenthood and low cost/free women’s reproductive health care is one of those things.

So today, we are launching a $30k match offer for Planned Parenthood.

Amy, Susan, Joanne, Brad, Albert and I will collectively match $30k of donations made to Planned Parenthood.

Our match offer will end when we reach $30k of collective donations or Friday night at midnight pacific time (May 5th).

Here is how the monthly match works

  1. Go to our match offer page and click the big Donate button
  2. Select any amount (min is $10) and click the big Donate button again
  3. Enter your payment credentials and click the big Donate button again
  4. Click the big Tweet Your Donation button
  5. Once you have done all of that your donation will automatically be matched
  6. If you don’t have Twitter, forward your email receipt to [email protected]

I hope you will join us in supporting Planned Parenthood on this difficult day for all who care about women’s reproductive health and women’s health more broadly.

#hacking healthcare#policy#Politics

The Machine Will See You Now

Siddhartha Mukherjee has a good long read in The New Yorker about machine learning and medical diagnosis this week.

In it, he explores whether machines are going to replace radiologists, dermatologists, etc or help them do their jobs better.

He concludes with this observation:

The word “diagnosis,” he reminded me, comes from the Greek for “knowing apart.” Machine-learning algorithms will only become better at such knowing apart—at partitioning, at distinguishing moles from melanomas. But knowing, in all its dimensions, transcends those task-focussed algorithms. In the realm of medicine, perhaps the ultimate rewards come from knowing together. 

We are very excited about the possibilities of using machine learning to help diagnose medical conditions early when they can be treated successfully. We have made a number of investments in this area and I expect we will make many more.

I believe that this is the future of medicine and the sooner we get to it the better off everyone, including the practitioners, will be.

#hacking healthcare

Consumer Centric Healthcare

As we think about how to modify the ACA (aka Obamacare) into something different (aka Trumpcare) I would encourage everyone involved to think about one central tenet – put the person/consumer/patient at the center of the system, not the employer, not the insurer, and not the doctor.

I have written a few times about consumer centric healthcare here at AVC. I believe that patients should and will increasingly take control of their health care and that will be a good thing for costs and outcomes.

Our healthcare investment strategy at USV is largely based on this premise. My partner Andy who has done a lot of the critical thinking that has informed our investments in this sector, wrote this post on his personal blog six months ago explaining how we think about this sector.

Technology will have a lot to do with this. If the regulators will allow it. There are laws on the books in many states (NY State is among the worst) stopping patients from going around doctors and getting diagnostic tests, radiology exams, and, can you believe it, eye exams, using technology instead of humans. We must change those laws and I am involved in efforts to do just that. I would encourage others to engage on this issue. It’s important.

Andy Kessler had a good piece a few weeks ago on all of this. He points out that a lot of the data we need to train machine learning models are stuck in data silos controlled by big companies like Epic Systems. If Trump and his people want to make a better healthcare system, they should require Epic and its competitors to provide open APIs into these data silos so that people/patients can get access to their data and authorize third party systems to have it too. That one move would be huge for AI in healthcare, which we need to get costs under control.

Our problems in healthcare are largely structural. We have allowed employers and insurers to finance our healthcare system and take control of it. We need to get people back in control of healthcare. Technology can be the lever that will do that. If we allow it to happen.

#hacking healthcare

Prescriptions On Your Phone

My partner Andy blogged this week about an investment we made earlier this year. It is called NuRx and its an entirely new way to get medications.

Here’s the value proposition (from their website):

nurx

Compare that to this (from Andy’s post):

When you need to see a doctor, there are typically 5 or 6 steps you need to take before a potential outcome: finding the doctor; finding time to schedule the appointment; visiting the doctor; getting a diagnosis and prescription; visiting a pharmacy and paying for your medication.

The efficiency of scrolling through a mobile app, finding the medication you need, filling out some information, and then having the meds show up at your door a few hours later is vastly superior to the process Andy described.

We are looking for services in health care that dramatically improve the user experience of obtaining health care services and lower the cost of providing those services. We also believe that these services, when delivered on the device you have with you all of your waking hours, will over time become an important repository of your personal heath care information. And one you control and have the primary access to.

All of these things; improved user experience, dramatically lower costs, user control over their data, portability of providers, are a direct and aggressive challenge to the existing incumbent health care system.

And I can’t think of any industry that deserves that challenge more than health care.

#hacking healthcare