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Framework for thinking about applying infotech principles to impacting healthcare and medicine.

Framework for thinking about applying infotech principles to impacting healthcare and medicine.

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  • 1. H@cking Medicine @hackmedmit Zen  Chu   Entrepreneur  In  Residence   MIT  Entrepreneurship  Center   entrepreneurship.mit.edu  
  • 2. Invited  Hacker:  Ed  Park  CTO,  COO  athenahealth   Healthcare  hack  resul?ng  in   $1.5B  valua?on  
  • 3. H@cking Medicine Create  the  ecosystem  and  programs  for    MIT  &  Harvard  Health  Science  Technology     students  to  learn  &  rapidly  hack  the     unique  needs  &  challenges  in     medical  technology  development  by   collabora?ng  with  clinical  &  domain     experts  around  the  world  
  • 4. WHY  HACKING  MEDICINE?   MIT  Hacking  Culture   Provoca?ve   Include  Life  Science  Outsiders  
  • 5. MIT  IS  THE  PLACE   Engineering  Leadership   Entrepreneurial  Culture  Boston  Medical  Industrial  Complex   Large  Successful  Examples  
  • 6. MIT  Strengths  Map  To  MedTech  Trends  Focus  @  Interface  of   IT  &  Devices  
  • 7. BUT…  HEALTHCARE  IS  COMPLEX  
  • 8. MIT  MedTech  Educa?on  Students  Need  to  Taste  the  Essen?al  Process  Teching  materials  already  exist  for  validated   engineering-­‐driven  methodology   Stanford’s  BioDesign  Program  
  • 9. Fragmenta?on  &  Scalability  Challenges   Geography,  Specialty,  Disease  State   700  Payers   Negotiated Payments & Pricing Among Each Player & Region >4000   5700  US   Medical  Product   Hospitals   Companies  
  • 10. Health  IT  Landscape   Follow  the  Money   Pharma   Companies   Pharm  Benefit   MedTech   Manager   Companies   $   $  Employer   $$$   Insurer   $$$   Hospital   $$   Pa?ent   Physician  
  • 11. US  Healthcare  Spending  2007   $2.3  Trillion,  15.2%  GDP   Other Devices, Hospital Care Diagnostics Pharmacy, etcAdmin CostsNursingHomes Physician Services Pharma Source: PHRMA Annual Report 2008
  • 12. TIME  IS  RIGHT  TO     HACK  HEALTHCARE   Costs  Drive  Reform   Incen?ves  Changing   Infotech  meets  Healthcare   Business  Model  Hacks  HackingMedicine.mit.edu @hackmedmit
  • 13. CALL  TO  ACTION   Momentum  Building   Be  a  Part  of  It!  Fall  2011  Conference  @  MIT   Student  Leaders   Fantas?c  Mentors  
  • 14. BACKUP  &  EXAMPLES  
  • 15. Health  IT  Landscape   Follow  the  Money   Pharma   Companies   Pharm  Benefit   MedTech   Manager   Companies   $   $  Employer   $$$   Insurer   $$$   Hospital   $$   Pa?ent   Physician  
  • 16. Align  Employers  &  Employee/Pa?ents   Pharma   Companies  CASTLIGHT Pharm  Benefit   MedTech   HEALTH Manager   Companies   $   $   Employer   $$$   Insurer   $$$   Hospital   $$   Pa?ent   Physician  
  • 17. Supply  Chain  Management   Pharma   Companies   Pharm  Benefit   MedTech   Manager   Companies   $   $  Employer   $$$   Insurer   $$$   Hospital   $$   Pa?ent   Physician  
  • 18. Billing  Management   Pharma   Companies   Pharm  Benefit   MedTech   Manager   Companies   $   $  Employer   $$$   Insurer   $$$   Hospital   $$   Pa?ent   Physician   athenahealth
  • 19. Hacking  New  Business  Models  NEW  MODEL          EXAMPLE  •  Prac?ce  Management    athenahealth  •  New  Workflows      e-­‐Prescribing          •  Collec?ve  Knowledge    Sermo  Social  Network  •  Direct  to  Consumer    iPhone  Disease  Management  •  Outsourcing        O2i  Teleradiology  •  Decentraliza?on      In  Home  Tes?ng/Monitoring  •  Pay  4  Performance      Cerner  •  Bundling          Episode-­‐Based  Pricing  
  • 20. Priori?ze  By  Rapid  Hackability  &  Data  
  • 21. Start  With  Hackable  MedTech   Direct  to  Consumer   Easy  to  test  tracHon    UNregulated   Opportunis?c   MIT  Start  Here   Consumer  devices   Health  Info  Tech   Big  data  &  cloud  services   No/few  medical  claims   Sensors   Imaging  analysis    Regula?on Hospital  supply  chain  management   Wellness  apps   Health  social  media   Convenience  &  Produc?vity   Simple  solu?ons  for  HC  workers,  MDs   Gene?c  analysis  &  counseling   Hospital  supply  chain  management   Students  can  focus  on  clin  workflow   No/few  regulatory  requirements   Regulated Clinical  Data  &  Quality  Required   Professional  Consumables   Low      Hackability              High  
  • 22. Healthcare  Is  More  Complex   Get  students  to  learn  the  methodology   Market Risk Reimbursement Largest Risks Must Physician & Patient Adoption Be Addressed & De- Packaged Solutions Risked Up FrontValue Before Funding Regulatory Risk Safety & Efficacy Management Risk Investors & Companies Willing to Take These Risks Technology IP Risk © zen@acmedx.com Time
  • 23. Regulatory  Is  Cri?cal…  But  demands  clinical  &  domain  exper?se  
  • 24. Clinically  Disrup?ve