MIT's H@cking Medicine presents "A Hackers Guide to Health Care: Big Data"
A Hacker’s Guide to Health Care Big Data & its Business Applications -or- How to Monetize DataH@cking Medicine Joshua Rosenthal, PhDA Production of the MIT Entrepreneurship Center 10.22-23.11
1) Start with the MoneyMost ‘Successes’, Aren’tNote: Payer (money) buying intervention (provider)
Engineers Guide to Multiples1x Rev 4x Rev 8x Rev- Ja Ja Binks + Good fights + Existential crises of free agency vs. - Teddy Bears determinism wrapped in a fairy tale
2) ‘Learn’ from the ‘Experts’ Specifically, learn why they are wrong“Health Care will move toperformance-driven consumerism,following financial services & e-com” Sounds good, makes sense (Nice hair, good “Blue Steel”) Problem: He’s been saying this for 20 years Hack: Find out why it hasn’t happened – then make a biz from it
3) Know the BodiesHealth Care, Where Good Ideas Go to Die
Perverse Incentive - ASupply-driven markets: Note: Google “unwarranted variation” + “health care”; cf. Dartmouth Atlas for Unwarranted Variation
Perverse Incentive - BPayers have Money and Aggregate –but have not historically been “health care” “Actually, I make more money off of bad drivers.” (Read w/ accent) Note: Medicare $ > Employer $ Employer populations = tougher outcomes (3-year turn) Cf. Medicare reimbursement rates
Illusion DTC: It Doesn’t Work Track how fat you are! Only $1.99! Note: People don’t like to pay out of pocket for something they don’t like to do or don’t want to know about
4) Do Good…It’s easy to do good... ... but you are probably not profitable If P < EHC x DWS, then 501c3P: Profit; EHC: Employee Head Count; DWS: Dog Walker’s Salary;501c3: Non-profit
4) … and Make MoneyIt’s easy to make money... ... but you are probably doing bad things “I’ll bill you.”
It’s toughto make money & do goodin Health CareBut here’s a hack...
5) Start... with the money: _______... where they make profit: _______... with a real biz problem: _______... with the (publicly available) data: _______-Then ask: Does this hose people? A: quality > than quantity (supply driven)? B: customer/patient satisfaction?
Data & Biz Problems Package in work group 1) List of Data Sources & Context 2) Connections between Data and Biz Needs: A Mad Libs Approach(Psst... Know a good accelerometer app developer? – Please ping me.)
Hacker’s Guide How to Monetize Data -Summary-1) Start with the Money2) ‘Learn’ from the ‘Experts’3) Know the Bodies4) Do Good and Make Money5) Start