The healthcare delivery system is slowly adapting to the modern consumer. It also faces relentless pressure from those who pay the lions’ share of healthcare costs- employers, health insurance organizations, and taxpayers. This is a hard combination of customers to please. One one hand are consumers who want easy, convenient, affordable access to a deep network of excellent medical providers. On another side are the businesses and payers who want “population health”, i.e. cost containment via risk stratification, measurable outcomes, preventive health, and chronic condition management, and perhaps a narrower network of providers who help them manage these risks. The winning innovators will be the ones who can find the best ways to combine these perspectives.
The major innovations in primary care today are in new business models and in new consumer experiences, driven in part by predictive analytics. I use the term “consumer” rather than “patient” in this context because in the new primary care paradigm there is a blending of wellness programming for people who are not yet sick and the traditional sick-care services. Some new primary care organizations call their patients “members” just like insurance companies. These are dynamic times. Even our vocabulary for describing stakeholders is becoming outdated. This probably means it’s a good time to be an innovator.
On May 11, 2016 the Seattle Health Innovation Forum will convene some of the country’s leaders in this historic shift in primary care for a discussion with the community at the Cambia Grove. Some consider these new models as “disruptive innovation” because of the potential for transforming the relationships people have with their health insurance companies, their employers, and with their primary care providers. If you are in the Seattle area that evening, we hope you can join us Pre-registration for this event is highly encouraged.
We are excited to have these leaders who are creating the next generation of Primary Care on the panel:
Innovations in Primary Care Agenda- May 11, 2016
6:00-6:10 Community Announcements
6:10-7:00 Panel on Innovations in Primary Care
7:00-7:30 Networking, individual Q&A
I hope to see you there.
The Seattle Health Innovation Forum is a grass-roots community of people working in health startups, healthcare institutions, academia, biotech, investors, and others interested in the transformation of health and health care. Founded in 2013, we organize forums and other projects to improve awareness of the opportunities to make a difference in health.
In the July 29th Health Innovation Forum we’ll hear from leaders from two Seattle-based firms on the forefront of this revolutionary approach to health. Precision Medicine is defined by the NIH as “ an emerging approach for disease treatment and prevention that takes into account individual variability in genes, environment, and lifestyle for each person. “
This is the summer networking event of the Seattle Health Innovators, an independent grass-roots community of people interested in transforming health and health care. RSVP here. There is a $10 registration fee to cover the catering of hors d’oeuvres and beverages.
Our speakers will describe their work, followed by an interactive dialog with the audience. We will talk about opportunities at the intersection of life sciences with educated and engaged citizens/patients.
Sean Bell, MBA, is the Chief Business Officer for Arivale, a startup founded by Lee Hood. As reported in Geekwire, Arivale describes itself as “a revolutionary new wellness company combining cutting-edge science, an intimate and unprecedented view of your body, and personalized coaching to help you achieve your unique wellness potential”.
Sean managed the day to day operations of the 100K Project of the Institute of Systems Biology until it became Arivale. It creates an “N-of-1” health data cloud based on an individual’s genomics, metabolomics, microbiome, and “quantified self” metrics. Prior to working with ISB Sean held a senior leadership role in Alere Wellbeing.
Michael Kellen, PhD., leads the technology development team for Sage Bionetworks, a non-profit biomedical research organization founded by Stephen Friend. Sage Bionetworks is dedicated to developing data-driven methods to improve human health, and has a strong focus on building open systems and networks of individuals that can collaboratively solve complex scientific problems. They have recently established a program to gather real-time medical information from citizen/patient communities through mobile devices, participating as a launch partner for Research Kit with Apple and other medical centers.
Michael completed a PhD at the UW in 2002 with a focus on computational biology and helped start local bioinformatics company Teranode before joining Sage Bionetworks. His work centers on how technological advances in technology areas such as smartphones and cloud computing can accelerate biomedical research.
5:30-6:00 Networking, food and beverages
6:00-6:15 Community Announcements
6:15-7:00 Precision Medicine Speakers and Discussion
7:00-7:30 Networking, individual Q&A with speakers
The venue is at the Cambia Grove, 1800 9th Avenue, 2nd floor, Seattle, WA 98101.
To RSVP please click here: http://www.meetup.com/Seattle-Health-Innovation-Forum/events/223664522/
By Angela Hong, June 29, 2015
This post is part of a series that compares Seattle with other cites using these criteria for what it takes for an area to become a health innovation hub:
- Cost of doing business / regulatory complexity
- Talent availability
- Financial capital
- Health institutions one might work with
- Regional culture / quality of life
Our last post compared the relative cost of doing business in Seattle. Seattle falls squarely in the middle compared to the other cities in our sample (Boston, Chicago, NYC, and SF). In this article, we’ll explore how Seattle fares in financial prowess.
In 2012, Seattle was ranked 9th in the top 10 best U.S. cities for business by ThinkAdvisor and also named the “29th most competitive city in the world.” In 2014, it jumped to 4th on Forbes‘ list of “best places to launch a startup.” While many factors make a city favorable to entrepreneurs looking to invest in new health products, financial capital is one of the most important. Its presence in Seattle is helping to make the city an up-and-coming hub for innovation, especially in the field of health.
Compared to other large cities, Seattle is becoming more well-known for its ability to draw ingenuity through financial capital. Exhibit A below shows that the number of angel investors in the city rival those of other major metropolitan areas: such as New York City, San Francisco, Chicago, and Boston. While New York and San Francisco currently outnumber most cities in local angels—at 1221 and 2163, respectively—Boston’s 397 seems reachable for Seattle. The Emerald City, as shown in this Angel List report, has 277 individuals who provide start-up capital for businesses, and this number is even greater than that of Chicago, which currently stands at 271.
This places Seattle in the running with major healthcare innovation hubs. And if the city’s number of investors begins to increase, a rise in healthcare-specific investors at the current rate would put Seattle level with well-established cities in terms of financial capital available for healthcare-related businesses.
Exhibit A: Angel Investor Comparison
Follow the Money
According to this Angel List data, eighty million dollars were invested by Seattle’s angels investing in health startups.This is lower than the other cities in our survey. The highest amount is spent in San Francisco at $1.04 billion and the second lowest is Chicago at $150 million.
Seattle: Financial Capital Overview
While Seattle has many fine qualities which make it an ideal business start-up city, it may not be thought of as a top health innovation hub in the way New York City, San Francisco, Boston, and Chicago are currently perceived. However, with rising numbers of angel investors interested in funding health-related businesses and the amount of financial capital for healthcare innovations already in motion, the city and its resources should be considered by those looking to make a difference in the medical field via creating new products, ideas, and business.
About the author
Angela Hong is a co-founder and CEO of Healthy Beeps She moved to Seattle from Boston in 2014 and is leading the Health Startup Location Attractiveness project.
Angela Hong briefs the Seattle Telehealth Forum on the Location Attractiveness Survey, March 5 2015.
We, Angela Hong and Ed Butler, are co-founders of separate early-stage digital health startups and as a project of the Seattle Health Innovation meetup group, we are conducting a “location attractiveness” study to help determine where our new companies will be based. Yes, we love Seattle, but we want to be objective about it.
This is an exciting time to be in this field. The decision as to where to locate our early stage operations is not easy. We would like to take a systematic look at the most attractive metropolitan areas in the US for establishing and growing a new digital health startup. We have just begun this process and will provide updates via this blog on our progress. Where do you think the hottest health innovation cities are? We intend to find out.
With digital health investments reaching $4.1 billion in 2014, there is no question that the healthcare sector is ripe with opportunity. Unlike the glacial pace of change in health reimbursement and big-iron electronic health record systems, the 2014 spike in digital health investment is new and it is rapid. The top six categories, representing 44% of 2014 digital health investment are analytics/big data, healthcare consumer engagement, digital medical devices, telemedicine, personalized medicine, and population health management.
This study is being conducted from the standpoint of early stage digital health startup entrepreneurs. While we have worked within large healthcare organizations, consulting firms, and health IT vendors, we’ve learned to appreciate the difference between what is relevant for a big company and a startup. One of the first tasks we set for ourselves was to identify the criteria to use for assessing whether a city would be a good place to start a digital health venture.
Angela Hong, Chelsea Steinborn, Ed Butler at the Seattle Health Innovation Forum on Telehealth
The criteria we have decided to use to objectively assess different metro areas for suitability are as follows: regulatory environment, talent, financial capital, institutions and the regional culture.
Regulatory Environment: In order for entrepreneurs to want to incorporate or even set up shop in a particular location, the ease of forming the business is important. How hard and expensive is it to form a company? Are there any state or local laws that make it easier or harder to build a digital health product? Is this a location where we have to spend more of our precious startup funds on lawyers?
Talent: Startups cannot compete head to head with large companies on salaries, benefits, and, arguably, job security. It takes a certain mindset to offset the risks and low salaries of startups with the opportunities to work on something truly meaningful, and to have a chance of a windfall when the successful exit event occurs. It takes a certain population density to create a critical mass of skilled designers, engineers, health professionals, behavioral and life science researchers, marketing, sales professionals who are ready for this kind of a ride. Diversity is also crucially important in building cohesive and productive teams.
Financial Capital: Like most other types of startups, having access to financial capital whether it’s via venture capital or the angel community is extremely important. Unlike other industries, healthcare administration is inherently a harder industry to understand due to complex regulation and legacy institutions. The accessibility of investors whose investment strategies include the health industry is a rare resource and could make a difference in startup location attractiveness. It’s not just the money- we need savvy investors with whom we can gain market insights and key connections. Being 30 minutes away from a face to face meeting reduces friction and accelerates progress and accountability.
Institutions: Most healthcare startups need to form development partnerships and early adopter agreements with large health organizations for testing or piloting their product. Such institutions may include hospitals, payer organizations, pharmaceuticals, and life science research institutions. This is a big opportunity but also can be a pain point for many startups because of the predilections of too many institutional decision-makers to work only with “safe” name-brand corporate suppliers.
Regional Culture: Perhaps one of the more important criteria is a startup-friendly culture. Being in a location where startups thrive and can support each other can be a powerful advantage. How open and friendly is the startup culture in the metro area? Is it cut-throat competitive? How likely is it that other companies will poach your team? Typically startup entrepreneurs need help or advice when building their company and what better way to get help or advice if your neighbor sitting next to you at the coffee shop can provide that guidance. Quality of life for our teams is critical to being able to recruit the best people. Despite the hype around startups, it is not all about late night sprints and cold pizza. Living in a beautiful area with diverse cultural resources (museums, concerts, parks) and the ability to maintain a healthy lifestyle and to build relationships all contribute to building a sustainable team and an amazing company.
We are interested in what you think. What do you consider important when determining what city you want to live in? What do you think are the top health innovation cities in the US?
Telehealth is a rapidly growing market opportunity that can improve the patient experience, lower costs, and improve quality of care on a global scale. The Seattle Health Innovation meetup, March 5, 2015 from 5:30pm-7:30pm, will feature a panel of experts on Telehealth implementation, including smartphone apps for patients with chronic diseases and video technology for primary care visits with medical providers. Hear from these innovators on how they work with care delivery systems to introduce new care models enabled by technology. Find out about the analytics they use to measure success and what they have found to be key issues.
Light food and beverages will be served to facilitate networking before and after the panel. This is a grassroots effort and there is a $10 registration fee. To register, please click here.
This meetup will be held at the Cambia Grove at 1800 9th Avenue, Seattle WA 98101 on the 2nd Floor. Please arrive before 6:00pm because the doors lock. After 6:00pm you can only get in by walking down into the underground parking deck and take the elevator to the 2nd floor.
It is in the same building as Regence Blue Cross on the corner of 9th Ave and Howell Street. For more information about this new hub for health innovation in Seattle see the Geekwire article from last October: “New ‘Cambia Grove’ health-care innovation center in Seattle will link tech startups with big players”.
The Seattle Heath Innovation Meetup is comprised of individuals interested transforming health and healthcare. It was started in 2013 by leaders from Seattle-based health startups and welcomes individuals from healthcare delivery systems, payers, research organizations, universities, investors, and the community at large.
The program will include brief presentations and a panel discussion with these health leaders:
Fareeha Siddiqui, MD, MPH is the Director of Research and Innovation, Global to Local, an innovative non-profit formed by Swedish Health Services, the Washington Global Health Alliance, HealthPoint, and Public Health Seattle & King County to serve residents in the SeaTac/Tukwilla area. This area has more than 70 ethno-linguistic groups and twice as many people living below the federal poverty level and far higher mortality rates than the rest of King County. It offers a unique opportunity to work with populations relevant to Seattle’s global reach.
Dr. Siddiqui directs the Global to Local Mobile Health Project, which focuses on the development of cost-effective remote monitoring, sustainable health promotion interventions, and improvement of healthcare delivery. She will update us on a mobile health pilot to help people with diabetes. She was one of 6 doctors to win Seattle Magazine’s Top Doctors: Community Service Award in 2013.
Julie Maas, MBA is the Director of Client Integration at CarenaMD.
Carena is a new and growing Seattle-based company that provides telemedicine solutions including a Virtual Clinic staffed with employed 24/7 “Virtualists” and an operations team that can get a system live in 90 days or less. Carena has implemented its Virtual Clinic Offering with several leading healthcare delivery systems, including UW Medicine and Franciscan Health.
Julie’s team implements the technical and operational aspects of these solutions. She works directly with healthcare delivery systems to include the Virtual Clinic. Her career spans 10+ years of life sciences and non-profit experience in a wide range of projects and roles, including development of telemedicine initiatives while at the UW Center for Commercialization.
Christi McCarren, RN, MBA is the Multicare Vice President of Retail Health and Service Lines. Multicare is a not-for-profit integrated health system with more than 10,000 employees and a comprehensive network o services throughout Pierce, South King, and Kitsap Counties.
Steve Poore, MD is the Medical Director of the Multicare Women’s Service Line.
Christi and Dr. Poore will be speaking to us about MultiCare’s OB CareConnect program–where OB care alternates between virtual visits with a MultiCare nurse practitioner (ARNP) and scheduled visits with the patient’s MultiCare obstetrician at his or her office. The program conducted over 400 visits in 2014, including a patient in Mozambique.
Chelsea Steinborn, a current graduate student at the University of Washington, is facilitating the panel discussion. Chelsea has worked as Senior Product Engineer at Medtronic, a $27 billion medical technology and services company.
Chelsea will complete her Masters in Health Administration at UW in May 2015. She has focused on telehealth and innovative care delivery throughout the program and during her current internship at Virginia Mason. Chelsea will get the conversation started with the panelists and then facilitate audience questions and answers.
The meetup starts at 5:30 with networking and refreshments. After community announcements will be the panel discussion and at the end will be an opportunity to talk with other meetup participants.
To register, please click here.
Posted by Ed Butler, digital health entrepreneur and co-founder of the Seattle Health Innovation Meetup.
To join this meetup group and get future event notices, click here: http://www.meetup.com/Seattle-Health-Innovation-Forum/