JP Morgan Health Conference: Some Good Ideas for Internet Healthcare
In a panel discussion at the JP Morgan Health Conference, Internet medical company CEOs put forward some ideas about the medical industry. Here are five interesting insights about Internet healthcare from StepChan Baum from MediCity.
If you master the capital, then you have the data and you have mastered the product.
This sounds like a set of words, but it does not affect the authenticity of the content contained in this sentence. The relationship between medical service providers and Internet medical companies is roughly the same. Internet healthcare companies use their technology to help service providers deliver better medical care to patients. But investors can influence the shaping of business models. As the industry shifts toward results-oriented healthcare, data generated through Internet medical tools will further become the key to medical services.
Do we need to abandon the existing medical industry (or part) to make it better?
One of the ongoing discussions in the medical industry , especially in the Internet medical industry, is to better compare the existing medical industry with the reconstruction and the existing improvements in the medical industry. Oscar is a medical insurance startup founded last year. The company is trying to change the existing medical services through telemedicine, etc. way. Joshua Kushner, the company's co-founder and former angel investor, said that considering the size and scope of the competitors, it is not certain whether it will succeed. But the current medical insurance industry is indeed undergoing major changes, and the outcome of this game will be very worth looking forward to. Correspondingly, Kyruus co-founder and CEO Graham Gardner pointed out that although the medical industry is undergoing changes due to the impact of Obama's medical reform (ACA) and Internet health, the fact that doctors are providers of medical services is not in the short term. Change, so entrepreneurs must include doctors in the discussion. He emphasized that his company is using online methods to help doctors improve their productivity.
We already have enough medical big data , what we really need is predictive analysis.
A good point of view from Andrew Thompson, CEO of Proteus Digital Health. There is now a reform for hospitals, insurance companies, and related medical organizations that uses analytical tools to better understand their needs. However, if there is not enough data, how do you do such deep data analysis? ShareCare co-founder Jeff Arnold said they are helping users use their information to create appropriate patient information files. They provide users with a file model that takes into account the needs of business and business, business and users.
Data + knowledge = participation
This seems to be another set of words, and in fact the current medical industry is using a variety of methods to prove the authenticity of this sentence. Jeff Arnold pointed out that if you can show consumers how much you can save by quitting smoking, not just money, but also health, you can really influence the behavior of patients.
This also applies to Proteus Digital Health, the company of Andrew Thompson, another member involved in the discussion. The company's medical digital feedback system includes a respirable sensor that transmits data such as the effects of the drug on the patient to a Bluetooth device. According to the company's website, the sensor consists of an edible material that allows the patient to take it with the drug. By better understanding the body's response to the drug and the associated causes, it will theoretically enhance patient engagement and help doctors better develop drug and dose choices and increase compliance.
Earnings can be a trap in the early days of entrepreneurship
Of course, this is a general rule for most industries, but this is especially true for startups in the Internet healthcare industry. Thompson pointed out that if Internet medical startups try their best to make money every day, they will only suffer. What they really need to focus on is how to engage users and generate data to prove that their technology is not only useful, but more effective than current technology. Only by doing this, it is a very simple matter to talk about profit.
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