Rock Report: Personalization in Consumer Health by @Rock_HealthPresentation Transcript
taking healthpersonally personalization as a consumer health trend A ROCK REPORT BY
“ What matters is you, the individual. Your data. ” - Dr. Eric Topol
About this reportWe wanted to know more about personalization and its role in health products.This report sources data and feedback from interviews conducted withentrepreneurs working in the space as well as industry publications.Caveat: we are not professional white-paperistas, just curious advocates who like toshare knowledge and further the discussion around the evolving digital health space.About Rock HealthRock Health is a San Francisco-based digital health seed-accelerator.We support the next generation of health entrepreneurs with grants,office space, operational support and mentorship.Rock Health partners include Aberdare Ventures, Accel Partners, Fenwick & West,Genentech, Harvard Medical School, Mayo Clinic, Microsoft, Mohr DavidowVentures, NEA, Nike, P&G, Qualcomm, Quest Diagnostics, United Health and UCSF.For more information, visit www.rockhealth.com.Architects of this report include: Amy Puliafito, Leslie Ziegler, Halle Tecco
personalize /ˈpərsənəlˌīz/verbto design or producesomething to meet someonesindividual requirements;to make personal
consumer products can be: Everyone ‘prescribed’ same Mass market solutions; one size fits all
consumer products can be: Everyone ‘prescribed’ same Mass market solutions; one size fits all Tailored to stated preferences; Customized Product content is based upon explicit user input
consumer products can be: Everyone ‘prescribed’ same Mass market solutions; one size fits all Tailored to stated preferences; Customized Product content is based upon explicit user input Product unique to the individual; Personalized predictive and automated based on use, sensor data, demographics, preferences, and/or genomic data
Personalizationin consumer industries Coca Cola Freestyle Customize your Disney Predictive analytics allows consumers vacation experience, allows for extreme to mix over 100 from transportation to personalization for drinks from a hotels and merchandise. Target, who can sleek touchscreen determine if a woman vending machine. is pregnant based on purchases. Burger King has encouraged its Starbucks asks The internet hascustomers to have it ‘What’s your Starbucks enabled a myriad oftheir way since 1970 signature?’ and helps personalized with their popular caffeinated imagine experiences, especially ad campaign. 87,000 options online. in entertainment.
health ispersonalization’sfinal frontier
The healthcare system is impersonal Adverse drug Most Most consumers do reactions cause physicians not understand how 1.9 million spend less than the healthcare hospitalizations 20 minutes with system works each year their patients 70% of Patients get more consumers are information from not satisfied with the internet than levels of patient- their physician centered care Sources: Jones and Fox , 2009, Pew Research Center Agency for Healthcare Quality & Research Statistical Brief #109 2008 Deloitte, 2011 U.S. and Global Survey of Health Care Consumers
“ As consumers, we need to be outraged by the lack of personalization in the system, and we need to strive to transform healthcare. - Aimee Jungman, ” VP Healthcare Innovation Strategy Group, frog design
principles ofpersonalized health products Use technology to Balance humanism & People-centric enhance real life effectiveness Encourage Focus on both Tailored & customized participation wellness & disease
personalized health canimprove health outcomes Enable a better understanding Reduce adverse Improve of disease treatment reactions quality Eliminate Let individuals unnecessary monitor and analyze treatments health data Lower Increase Costs access Empower patients to learn about their unique health risks
MARKET SIZE 2015 ~$400B 2009 ~$230B Nutrition & Wellness $292B Nutrition & Wellness $196B Personalized Personalized Medical Care Medical Care $9-118B $5-12B Esoteric Esoteric tests & labs, tests & labs, therapeutics therapeutics $42B $24B Source: The New Science of Personalized Medicine, PricewaterhouseCoopers, 2009
CASE STUDIES
A Better Way toManage Your Healthbusiness: Biomarker analysis, healthand fitness counselingpricing: membership from $149personalization: Combines biomarkerand device data with insight from experts;collects data through blood and urinesamples, device data, family historyWellnessFX “Personalized medicine will be about creating a simple but powerful interface to the wide variety of information available and delivering actionable insights to the individual.” - Jim Kean, CEO
“We believe that the personalization of experience based on data collected from the user (actively or passively), or from tapping into an existing source ofdata (such as electronic medical records), is one of the keys trends underlying the potential of digital health.” - Chris Hogg, CEO100Plus Benchmarking individual health behavior business: health prediction and decision support, games; uses PracticeFusion and government’s health data sets to predict outcomes pricing: first app 100proof available for free in app store personalization: via predictive analytics
A free Q&A with physiciansbusiness: Interactive health network of medical expertspricing: freepersonalization: get answers to your health questionsfrom real doctors for free HealthTap “People who use the internet for health information find it useless because they don’t trust it. There are 1.2 billion health searches every month, but the real trusted information comes from doctors.” - Ron Gutman, Founder & CEO
"The premise of One Medical is to treat individuals like individuals again. We understand that each person has a different health philosophy and motivations,and incorporate those directly into their care. We provide information that is criticalto patients while being open-minded to allow them to direct their treatment andcare based on their own preferences and what works best for them as individuals."- Tom Lee, MD, Founder & CEOOneMedical Healthcare Designed Around You business: personalized direct primary care pricing: $150-200 yearly fee personalization: concierge-style care: pick your doctor, same day appointments, longer visits, integrated personal health portal
“Personal products do not necessarily refer to products for a particular personof a particular age--it can be situational and is really based on the job to be done. This multifaceted aspect of human behavior is a key part of understanding howto best personalize products to meet a range of consumer needs.”- Sonny Jandial, Associate Marketing Director, P&G FutureworksProcter&Gamble Leading personalized health investments and acquisitions business: global manufacturer of consumer products with $82.6 billion in sales personalization: acquired MDVIP, a personalized primary care business in 2009; invested in DTC genomics company Navigenics; industry leader in understanding and segmenting consumers
Personalized weight-loss for everyone business: Weight management services;consumers spend ~$5 billion on WeightWatchers products and services annuallypricing: $65 for 3-month savings planpersonalization: PointsPlus 2012 programdesigned to help Weight Watchers membersstart strong and stay on track; no requiredor off limit foods on the program; adjustabletarget allows members to fine-tune theirdaily habits. WeightWatchers
KEY FINDINGS
$452 “While the market forpersonalized medicine diagnostics and therapeutics shows billion great potential, the biggest opportunities exist market beyond these core products andservices — particularly in less traditional, more consumer- oriented areas.” by 2015 Source: The New Science of Personalized Medicine, PricewaterhouseCoopers, 2009
BARRIERS‣ Breadth and depth of healthcare problems makes mass customization challenging‣ Misalignment of incentives leads to disempowerment of consumer‣ Providers and healthcare organizations may see consumers as adversaries rather than partners‣Doctors remain important resources for consumers -products need to leverage this relationship “ The foundation of good health is a trusted relationship between patient and physician. ” - Eric Page, Founder & CEO, Amplify Health
OPPORTUNITIES‣ WeightWatchers has proven that personalizing experience can result in a successful, scalable business‣ Nutrition & wellness will be a key area where the trend of personalization can grow to reach a wide variety of consumer products‣ Personalized health needs to be the default approach rather than concierge services only for the privileged “ The biggest opportunity in personalized medicine may lie in identifying new products, services and information targeted directly to consumers. ” - The New Science of Personalized Medicine, PricewaterhouseCoopers, 2009
thanks! Eric Topol, MD Tom Lee, MD Jim Kean Chris Hogg Scripps Institute OneMedical WellnessFX 100Plus Professor Founder & CEO Founder & CEO Co-founder & CEOEric Page Ron Gutman Aimee Jungman Sonny JandialAmplify Health HealthTap frog design P&GFounder & CEO Founder & CEO VP, Healthcare Innovation Marketing Manager
Robert Pastore
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