Hacking Medicine at MIT.edu

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

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Hacking Medicine at MIT.edu

  1. 1. H@cking Medicine @hackmedmit Zen  Chu   Entrepreneur  In  Residence   MIT  Entrepreneurship  Center   entrepreneurship.mit.edu  
  2. 2. Invited  Hacker:  Ed  Park  CTO,  COO  athenahealth   Healthcare  hack  resul?ng  in   $1.5B  valua?on  
  3. 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. 4. WHY  HACKING  MEDICINE?   MIT  Hacking  Culture   Provoca?ve   Include  Life  Science  Outsiders  
  5. 5. MIT  IS  THE  PLACE   Engineering  Leadership   Entrepreneurial  Culture  Boston  Medical  Industrial  Complex   Large  Successful  Examples  
  6. 6. MIT  Strengths  Map  To  MedTech  Trends  Focus  @  Interface  of   IT  &  Devices  
  7. 7. BUT…  HEALTHCARE  IS  COMPLEX  
  8. 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. 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. 10. Health  IT  Landscape   Follow  the  Money   Pharma   Companies   Pharm  Benefit   MedTech   Manager   Companies   $   $  Employer   $$$   Insurer   $$$   Hospital   $$   Pa?ent   Physician  
  11. 11. US  Healthcare  Spending  2007   $2.3  Trillion,  15.2%  GDP   Other Devices, Hospital Care Diagnostics Pharmacy, etcAdmin CostsNursingHomes Physician Services Pharma Source: PHRMA Annual Report 2008
  12. 12. TIME  IS  RIGHT  TO     HACK  HEALTHCARE   Costs  Drive  Reform   Incen?ves  Changing   Infotech  meets  Healthcare   Business  Model  Hacks  HackingMedicine.mit.edu @hackmedmit
  13. 13. CALL  TO  ACTION   Momentum  Building   Be  a  Part  of  It!  Fall  2011  Conference  @  MIT   Student  Leaders   Fantas?c  Mentors  
  14. 14. BACKUP  &  EXAMPLES  
  15. 15. Health  IT  Landscape   Follow  the  Money   Pharma   Companies   Pharm  Benefit   MedTech   Manager   Companies   $   $  Employer   $$$   Insurer   $$$   Hospital   $$   Pa?ent   Physician  
  16. 16. Align  Employers  &  Employee/Pa?ents   Pharma   Companies  CASTLIGHT Pharm  Benefit   MedTech   HEALTH Manager   Companies   $   $   Employer   $$$   Insurer   $$$   Hospital   $$   Pa?ent   Physician  
  17. 17. Supply  Chain  Management   Pharma   Companies   Pharm  Benefit   MedTech   Manager   Companies   $   $  Employer   $$$   Insurer   $$$   Hospital   $$   Pa?ent   Physician  
  18. 18. Billing  Management   Pharma   Companies   Pharm  Benefit   MedTech   Manager   Companies   $   $  Employer   $$$   Insurer   $$$   Hospital   $$   Pa?ent   Physician   athenahealth
  19. 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. 20. Priori?ze  By  Rapid  Hackability  &  Data  
  21. 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. 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. 23. Regulatory  Is  Cri?cal…  But  demands  clinical  &  domain  exper?se  
  24. 24. Clinically  Disrup?ve  

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