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Healthcare Ventures and Start Ups Segmentation
 

Healthcare Ventures and Start Ups Segmentation

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My Fortnightly Column - A Dose of IT

My Fortnightly Column - A Dose of IT

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    Healthcare Ventures and Start Ups Segmentation Healthcare Ventures and Start Ups Segmentation Document Transcript

    • c m y k c m y k DDCC 13Bengaluru ●● Monday ●● 11 July 2011 Mobile industry is now two per cent of the world’s GDP: Analysts. Technomics Airtel to re-structure India, South Asia operations. Games publisher Zynga buys top mobile apps company — Five Mobile Inc. SANGEETHA CHENGAPPA DC | BENGALURU July 10:Although India ranks 62nd on INSEAD’s Global Innovation Index 2011, it ranks ninth on the innovation efficiency list. Though at the cusp of steer- ing global innovation over the next two decades, can India improve its Innovation Quotient by learning from geographies that foster a culture of innovation like, Israel, Silicon Valley, Switzerland and the Scandi- navian countries? Industry experts who spoke at Zinnov’s fourth Globalisation Summit 2011, held in the city last week, said it is possible to learn ‘chutzpah’ from Israel, ‘ecosystem’ from Switzer- land and ‘comfort with fail- ure’ from Silicon Valley and improve the country’s Inno- vation Quotient. “Fear of failure is very high in India, which slows down the innovation process and employees constantly seek permission to go ahead with their innovative ideas. It is time to for us to allow complete freedom to our employees so that they can innovate with no fear of fail- ure, like in Silicon Valley,” said Mr M Mohan Hebbar, VP of Product Engineering Services, Mphasis. “Thinking through an idea thoroughly before actually implementing and executing it, is a German best practice which we must adopt. We must also be prepared to do just about anything, without feeling that it is below our dignity to do so, which is a best practice in the US worth adopting,” said Mr Wido Menhardt, CEO, Philips Innovation Campus India. Every conversation is a negotiation in Israel and Israelis question almost everything, just like people in the Netherlands never take anything for granted, pointed out Mr Hedwig Baars, R&D Head, Ericsson India. “We are urging our employees to ask questions to enhance their learning proactively, rather than be spoon-fed by their man- agers. Like in Scandinavian countries, where the power distance between the senior and lower management is negligible and where knowl- edge is considered superior to one’s designation, we are removing all hierarchies within our R&D centre to foster innovation”, he said. At the Global Technology Centre of Nokia Siemens Networks India, R&D engi- neers are given total owner- ship of the entire process of innovation with no interfer- ence, to enable them to develop solutions that prom- ise a value proposition to customers. “We have no designations on our visiting cards and everyone address- es each other by their first names. From a team of silent employees who wait- ed for instructions, I now have a team that speaks up”, said Mr Guenter Zwickl, Head of GTC, Nokia Siemens Networks India. While most MNC R&D centres in India are adopting innovation best practices from their parent compa- nies, BMC Software has developed an Innovation Lifecycle framework much like PLM, out of its India R&D centre. The framework allows for all kinds of innovations, be it a whitepaper, a patent, a killer product feature or an entirely new product. “We have exported the Innova- tion Lifecycle framework to our R&D centre in Israel and are in the process of exporting it to our R&D centre in the US, unlike in earlier times when India R&D centres imported such frameworks from their par- ent companies”, said Mr Tarun Sharma, VP – R&D, BMC Software. Voicemail spying shows phone networks’ weak spots San Francisco, July 10: The voicemail tampering scandal engulfing Rupert Murdoch’s News of the World tabloid demonstrates not only the vulnerability of phone networks, but also the fallibility of the people who help maintain them. The British tabloid is accused of breaking into voicemail accounts of vari- ous celebrities and digni- taries — and even crime vic- tims and their families — in a relentless hunt for scoops. Those accused of hacking on behalf of Murdoch’s pub- lication were alleged to have employed a variety of ruses. Glenn Mulcaire, the private investigator at the center of the phone hacking scandal, once targeted members of Britain’s royal household by duping phone operators into handing over their personal codes. Those PIN codes in turn allowed him and tabloid journalist Clive Goodman to listen in on the royal fami- ly’s voicemails. Many of the methods that phone hackers use are sur- prisingly low-tech. “Pretexting” is a common technique for fooling com- pany representatives into giving up a customer’s pri- vate account information. A pretexting scheme works like this: A hacker calls up the telephone company pre- tending to be his victim. An agent asks for personal information, such as moth- er’s maiden name or a pass code, to determine the per- son’s identity. The customer service rep then surrenders call logs or passwords if the information is convincing enough. Perhaps the most famous example of pretexting emerged in 2006 when it was revealed that Hewlett- Packard Co. was spying on journalists and its own board members by hiring private investigators to retrieve their phone logs. The practice was already illegal in the US, but was common in the world of private investiga- tions because prosecutions were rare. After the HP debacle, new federal legisla- tion clarified the penalties. Anyone found guilty of pre- texting in the US could face up to 10 years in prison. Knowing bits of key infor- mation — such as a Social Security number, names of family members on the accounts — can help a hack- er establish credibility in pretexting attacks. Having access to the target’s e-mail account can be valuable as well. In other cases in Britain, all journalists had to do was dial directly into victims’ phones and enter a default or easy-to-remember pass- word, such as “1111,” to gain access to their voice- mails. The News of the World fiasco has led to prison terms for an investigator and a former reporter for the tabloid, caused several major companies to pull advertising. It is complicat- ing Murdoch’s attempt at a multibillion — pound (dol- lar) takeover of British Sky Broadcasting, which some in government now insist should be blocked because of the hacking incident. Authorities say tabloid staffers may have interfered with police investigations by hacking into the cellphone of a 13-year-old girl who was eventually found mur- dered. The staffers are also being investigated on allega- tions of tampering with phones of victims of the July 7, 2005, terrorist attacks in London, which killed 52 people. Just as many people are surprised by how easy it is to hack into someone’s Inter- net e-mail account — the “forgot my password” fea- ture is reviled by many secu- rity professionals — it may be surprising as well that phone accounts aren’t much safer. Unlike an ATM with- drawal that requires a bank card and a PIN code, voice- mail typically only requires a PIN code. Today, we sim- ply store too much informa- tion and don’t take enough advantage of technologies such as voice recognition, for instance, that could bet- ter secure voicemail, said Mark Rasch, director of cybersecurity and privacy consulting for Computer Sciences Corp. “The four-digit PIN will someday die, but I can’t tell you when,” Rasch said. “Businesses still like it, and people like it because it’s easy and easy to remember. But it’s only easy and easy to remember if you use the same PIN for everything — and once you do that, if you’ve compromised it one place, you’ve compromised everywhere.” If all else fails, hackers can sometimes purchase phone information. Britain’s Guardian newspaper has reported allegations that other investigators paid bribes to obtain information from Britain’s police data- base, the drivers’ licensing agency, and cell phone com- panies. The phone numbers and passwords were obtained in industrial quan- tities. Last year Scotland Yard said that some 4,000 names, 3,000 cell phone numbers and nearly 100 passwords had been found in Mulcaire’s notes when he was arrested. — AP PRIVATE MATTERS Google’spieceofnetworkingpie,forall Idaho, July 10: Google Inc is leaving open the door to more co-operation with social-media giants Face- book and Twitter, and believes there is room for multiple social networks as it rolls out its own, executive chairman Eric Schmidt said. He also said the company will cooperate fully with US antitrust regulators but will not let the formal probe launched last month distract or disrupt its strategy. He was speaking to journalists at the Allen & Co. media conference in Sun Valley, Idaho. Schmidt, who vacated his CEO seat to co-founder Larry Page in April and now oversees government affairs, said it was too early to say how its new social network, Google Plus, was faring — but one key indication of success is the number of people clamoring to be part of the limited group current- ly using Plus, which launched in trial mode last week. One of the more popular features on Plus, especially with younger users, was online video chat, he said. Singling out two services where Google Plus can now be viewed as a competitor, Schmidt said he would “love to have deeper integration with Twitter and Facebook.” Google’s search deal with Twitter recently expired, and despite “a substantive and lengthy discussion,” the companies couldn’t agree on terms, he said. And Google’s overtures to Facebook to discuss letting Plus users import Facebook friends also went nowhere, Schmidt said. Schmidt laid out a future with multiple sources of online identity and multiple social networks, even as detractors say Facebook’s service, with millions of users around the world, is too entrenched to allow for serious competition. Schmidt also said Google executives — though not he himself — had discussed the recent hacking of email accounts with Chinese offi- cials. Google last month revealed a major hacker attack that it said originated within China. It said hackers tried to steal the passwords of hundreds of Google email account-holders, including those of senior government officials, Chinese activists and journalists. “We tell the Chinese what we know ... and then they publicly deny their role. That’s all I have to say about that,” Schmidt said. Closer to home, the U.S. Federal Trade Commission has started a formal review of Google’s business, rais- ing concerns among investors about a lengthy, distracting probe and poten- tial legal action. The FTC is expected to address complaints from Google’s rivals that its search results favour the company’s own services. Google, which runs an esti- mated 69 percent of Web searches worldwide, can make or break a company depending on its search ranking. Some worry that Google’s desire to stand firm against government intrusion — as with its protests against Chi- nese censorship of search results — will trigger a long battle that ultimately does more damage than a quick settlement. “We’ve had some meetings internally, (but) we haven’t changed anything,” Schmidt said. —Reuters bITs Washington, July 10: Hol- lywood studios, recording labels, artists and Internet service providers have cre- ated a program to alert Internet subscribers when their accounts are used to access movies, songs and other content that enter- tainment companies con- sider unauthorised. The new “copyright alerts” system is intended to educate consumers about online piracy by sending up to six electronic messages notifying sub- scribers when their accounts are used to down- load or share such content. Internet service providers would send the alerts to a subscriber after receiving a notice from a copyright holder. Consumers who ignore the notices could face “mit- igation measures,” such as slower Internet connec- tions or redirection to a special website that pro- vides information about copyright protections. Internet service providers would not be required to terminate any subscriber accounts or hand over sub- scriber names to copyright holders. — AP India can borrow ideas to boost innovation quotient, feels industry Copyright alerts to check piracy Twitter security not fool proof New York, July 10: The fast-growing microblog- ging site Twitter has fallen behind some other Internet services in introducing tools to help secure the accounts of users, security experts say. Weaknesses in Twitter’s security became apparent on the US July 4 Indepen- dence holiday as an unknown hacker took con- trol of a Fox News Twitter account and sent out mes- sages falsely claiming that US President Barack Obam was dead. “What Twitter needs to do now is to commit to a thor- ough review of their securi- ty practices,” said Daniel Diermeier, a professor at Northwestern University’s Kellogg School of Manage- ment. “For Twitter this is a very serious problem.” Security experts said the attack might have been pre- vented if Twitter had offered two-factor authenti- cation technology to secure its accounts. Google Inc and FaceBook already offer two-factor authentication to confirm the identity of users. Secu- rity experts said Twitter could soon come under pressure to do so as well, particularly from influen- tial users such as politi- cians, major corporations or news outlets. —Reuters Recently Rupert Murdoch’s News Corp decided to shut down News of the World, after the tabloid was accused of breaking into several voicemail accounts. KAPIL KHANDELWAL O ver the last few years, I have come across some very interesting start-ups. Many of them are not in the mainstream healthcare and life sciences service delivery space, but in the ICT, retail, technology, education, travel and tourism and allied sectors, betting on the impending boom in healthcare mar- kets, locally and globally. As a participant active in this sector, to bet on the next big disruptive and innovative idea, I am still working out my frame- work to assess what will work and what will not. Finally, I have zeroed into four key segments to bucket these ventures business models and value propositions. Firstly, the core service and products segment that delivers to the final con- sumer. There are enough disrup- tive ideas around this seg- ment itself, both across the healthcare and life sci- ences value chain as well as the care continuum. Very interesting business models along with hun- dreds of care delivery ideas (that can give rise to start-ups) are emerging in the wellness, curative or chronic care. Secondly, the healthcare and life sciences’ value chain integrators segment that integrates the differ- ent proponents — drug discovery, clinical trials, pharma, core services and health insurance players. Technology ventures and start-ups are creating dis- ruption here. Recently, social media analytics through Twitter have pro- vided predictive capability for core healthcare servic- es and products segments to customise their offer- ings. Disruptive ideas in mobility and cloud com- puting, analytics, social media integration, data management are emerging in this space. Thirdly, the core health- care business model enablers segment, that enhance the core segment value proposition, delivers financial proposition of the core service and prod- uct segment cheaper, bet- ter and faster. These are technology/services ven- tures and start-ups. We are seeing technology solu- tions that are providing solutions for educating both patients and clini- cians, revenue cycle man- agement, telecare and so on. On the brick and mor- tar side, there are a host of functional solutions ven- tures that are providing clinicians staffing, temp hiring, dietary and food services and so on. Tech- nology and business model enablers, that are making healthcare quality better by improving access to healthcare through cheaper health- care delivery solutions, are finding traction. Finally, the opportunist segment of business ven- tures and start-ups that exploit certain regulation or market/technology transition in the industry ‘s value chain as mandated by regulators. I call these ventures and start-ups, ‘the flavours of the sea- son’. For instance, I am see- ing a flurry of services and technology firms that are providing coding services and solutions for imple- menting and converting ICD-9 to ICD-10 codes. Like the firms that emerged during HIPAA compliance implementa- tion in the US in the last decade and then morph/merged with other firms, these ventures will eventually do the same to their business models once the market opportu- nities exhausts. Currently, ventures that are addressing the subsi- dies provided by the Obama administration to automate their operations are emerging in this seg- ment. Having created a mental map of how to segment the different ventures and start- ups in this space, the next issue is what is the size of bet to wager on. Here again, I would seg- ment the ventures and startups into B2B (busi- ness-to-business) or B2C (business-to-consumer), or into hybrids such as B2B2C and so on. First and foremost is the size of the market oppor- tunity that is being addressed, second is the pre-money valuation of the venture with the inci- dental premium that can be attributed to the value of the idea and the provid- ed milestones achieved in terms of revenue genera- tion, client acquisitions, access and strategic part- nerships in the ecosystem and so on. A Dose of IT Time to bet on the next big idea Kapil Khandelwal is Director, EquNev Capital, a niche invest- ments banking and advisory services firm and an independent advisory board member with leading healthcare and information communication technology (ICT) companies. There is room for multiple social net- works as it rolls out its own.Google would love to have deeper inte- gration with Twitter and Facebook. ERIC SCHMIDT EXECUTIVE CHAIRMAN,GOOGLE —Redesign blog