MIT Hacking Medicine Business Models

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MIT Hacking Medicine Business Models

  1. 1. Hacking.Medicine @MIT HEALTH  EXPERIENCE  DESIGN  2012   3/25/2012   ZEN  CHU    @ACCELMED   MIT  ENTREPRENEUR-­‐IN-­‐RESIDENCE   HackingMedicine.MIT.edu  
  2. 2. SCALE  MEDICINE  SO  INCREDIBLY  INEFFICIENT   IDEAL  FOR     ENGINEERS  &  DESIGNERS  
  3. 3. ACCELERATE  DATA   EFFICACY  OR  FAILURE   QUALITY  &  COST  BETTER    FASTER    CHEAPER  
  4. 4. DESIGNERS  ARE  ESSENTIAL   REPEATABLE  PATTERNS   HACK  BUSINESS  MODELS   DEFINE  EXPERIMENTS   TOOLS  NEEDED  
  5. 5. WHERE  TO  FOCUS?  INCENTIVES  +  $$$$   CHANGING  WITH     HEALTH  REFORM  
  6. 6. HACKABLE  INTERSECTION  OF     HIGH  TECH  &  MED  TECH  
  7. 7. FOLLOW  THE  MONEY    62%  of  $2.3  Trillion  =  Hospitals  &  Docs  2008 BIGGEST REFORMS HOSPITALS PHYSICIAN PRACTICES
  8. 8. ADOPTER  ≠  PAYOR   UNCOVER  THE  PERVERSE  INCENTIVES     DOCTOR   PATIENT   HOSPITAL   PAYOR  PAYMENT REFORMS & NEW BUSINESS MODELS CAN CORRECT MISALIGNMENTS
  9. 9. MARKET  RISK  TRUMPS  ALL   Largest Risks Must Market Risk Reimbursement Be Addressed & De- Physician & Patient Adoption Risked Up Front Packaged Solutions Before FundingValue Regulatory Risk Safety & Efficacy Management Risk Investors & Companies Willing to Take These Risks Technology IP Risk Time
  10. 10. TOOLS     FOR    MAPPING  &  HACKING   HEALTHCARE   BUSINESS  MODELS  
  11. 11. BUSINESS  MODEL  CANVAS   CHANNELS  ENERGY  OF  DIVERSE  TEAM   BUSINESSMODELGENERATION.COM  
  12. 12. CARE  DELIVERY  VALUE  CHAIN   Michael  Porter,  Tiesberg  
  13. 13. HMS  INVENTION  SCORING  TEACH  ACADEMICS  REAL  PRODUCT  VALUE  
  14. 14. …BUT…  HEALTHCARE  COMPLEXITY  
  15. 15. HEALTH  MODEL  CANVAS  HINTS  FOR  UNBUNDLING  HEALTHCARE  BIZ  MODELS  DISEASE  SUB-­‐SEGMENTS  NATURAL  HISTORY   ACCELERANTS   IDENTIFY  KEY  ADOPTOR:        -­‐  Tech  enablers   PaGent/DTC        -­‐  Clinical  tesGng   PaGent        -­‐  PaGent  Engagement   Data  Accelerants  KEY  RISKS/LIABILITIES        -­‐  DistribuGon   Specialist/PCP/Nurse        Regulatory  Pro/Cons   Specialist/Nurse        Reimbursement  Codes   Hospital/Department        Health  Reform  Changes   Insurer   Hospital   Payor/Employer  PERFORMANCE  &  EFFICACY  METRICS        Clin  Data  Cost/Timepoints   Payor   Data  Accelerants  VALUE  INFLECTION  MILESTONES   Royalty  Stacking   Regulatory  Path   Regulatory  Compliance  Premium  SUBSTITUTES  &  COMPETITION   Reimbursement  Codes   EXECUTION  DIFFERENTIATION   GO  TO  MARKET  DIFFERENTIATION   SLIDESHARE.COM/MEDICALVENTURES  
  16. 16. OSTERWALDER  CANVAS   BUSINESSMODELALCHEMIST.COM  
  17. 17. MAP  EACH  PLAYER   CURRENT  BEHAVIORS  &  SUBSTITUTES   TERTIARY  HOSPITAL  COST & COMPLEXITY SPECIALISTS   GPs   COMMUNITY  HOSPITAL   NURSES   OUTPATIENT  CLINIC   CAREGIVERS   DOCTORS  OFFICE   PATIENTS   RETIREMENT  HOME   RETAIL  CLINIC   PATIENT  HOME   WHERE IS THERE A CONSUMPTION VACUUM? BEST WAYS TO IDENTIFY DISRUPTION!
  18. 18. HACKMED  PROCESS  RIGOROUS  CLINICAL  PRODUCT  DESIGN  1)  ASSEMBLE  DIVERSE  GROUP  OF  MENTORS        ACROSS  HEALTHCARE  DISCIPLINES      BEWARE  BLIND  SPOTS  &  BIASES  2)  MAP  DISEASE  CARE  DELIVERY  VALUE  CHAIN  3)  MAP  EACH  PLAYER’S  VALUE  CANVAS  4)  TEST  ASSUMPTIONS  WITH  INTERVIEWS    5)  IDENTIFY  UNMET  NEEDS  &  PAIN  LEVELS  6)  BUSINESS  MODEL  CANVAS  FOR  EACH  SCENARIO  7)  DEFINE  MIN  VIABLE  PRODUCT  8)  MAP  VALUE/VOLUMES/IMPACT  VS  DISEASES    9)  COMPARE  MKT  SIZES  &  COMPETITION  10)  CHOOSE  EXPERIMENTS  TO  TEST  ASSUMPTIONS  ...  ITERATE…  
  19. 19. MIT  EXAMPLE  -­‐  GINGER.IO  
  20. 20. MIT  EXAMPLE  -­‐  GINGER.IO  
  21. 21. PLEASE  HACK  HEALTHCARE!   TWITTER  @ACCELMED  HACKINGMEDICINE.MIT.EDU   @HACKMEDMIT  
  22. 22. ADDITIONAL  EXAMPLES  
  23. 23. Health  IT  Landscape     Follow  the  Money Pharm  Benefit   MedTech   Manager   Companies   $   $  Employer   $$$   Insurer   $$$   Hospital   $$   PaGent   Physician  
  24. 24. Align  Employers  &  Employee/PaGents   Pharm  Benefit   MedTech   Manager   Companies   $   $   Employer   $$$   Insurer   $$$   Hospital   $$   PaGent   Physician  
  25. 25. Castlight  Health  VALUE   HACK    Personalized  tools  to  help    Aligns  employees  with   employees  shop  for   employer  costs   healthcare  based  on  cost,   quality  &  convenience    Uses  employer  data  to   create  master  provider  cost    Bringing  cost  transparency   database   to  health  care  decisions    Lower  healthcare  costs  by   15-­‐30%  
  26. 26. Supply  Chain  Management   Pharm  Benefit   MedTech   Manager   Companies   $   $  Employer   $$$   Insurer   $$$   Hospital   $$   PaGent   Physician  
  27. 27. VendorMate  Value   HACK    Capture,  CredenGal,  Monitor    Free  soluGon  to  hospitals,    Streamline  operaGons  &   charged  to  vendors   know  who’s  walking  your   halls.    Supply  chain  management    Comply  with  HIPAA,  privacy,   security  
  28. 28. Billing  Management   Pharm  Benefit   MedTech   Manager   Companies   $   $  Employer   $$$   Insurer   $$$   Hospital   $$   PaGent   Physician  

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