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HxRefactored - Geisinger - Greg Moore
This document provides strategies for startups to partner with healthcare systems based on Geisinger Health System's experience. It discusses knowing the healthcare system partner, including their needs, budgets, and pain points. When pitching a partnership, startups should clearly articulate their vision and ability to deliver value, such as solving a real problem. Terms of the partnership should be clear upfront, with the startup considering what value it can provide, and what it needs from the healthcare system partner, such as help with demonstrations, clinical trials, or future customers.
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- 1. Strategies for Startupsto Partner with Healthcare Systems A View from Geisinger Gregory J. Moore, MD, PhD Chief Emerging Technology and Informatics Officer Director, Institute for Advanced Application Twitter: @GJMooreMDPhD gjmoore@geisinger.edu
- 2. Geisinger Health System coverage area Revised 7-‐25-‐12. Geisinger PR & Marke7ng Department
- 3. Geisinger Health System • 3.5million patients in service area • 1,120+ physician FTEs, 700+ advanced practitioners FTEs • 78 community practice sites • 7 hospitals • 480,000+ member health plan • Institute for Advanced Application Center for Reengineering Healthcare Center for Emerging Tech and Informatics Center for Clinical Innovation • Center for Health Research
- 4. GEISINGER–An Integrated HealthServices Organization Provider Facilities $2.3B Physician Practice Group $1.2B Managed Care Companies $2.5B Geisinger Medical Center & Geisinger Shamokin Area Community Hospital Geisinger Wyoming Valley Medical Center Geisinger Community Medical Center Geisinger Bloomsburg Hospital 2 Nursing Homes 4 Surgery Centers ~80K admissions/OBS & SORUs 1,623 licensed beds Multispecialty group ~1,120 employed physicians ~700 advanced practitioners 78 primary & specialty clinic sites ~3M clinic outpatient visits ~420 residents & fellows ~490K members (including ~77K Medicare Advantage members) ~112K Medicaid Managed Care Projected Membership (GHP Family) Diversified products ~39K contracted providers/facilities 43 PA counties
- 5. Geisinger Institute forAdvanced Application 3 Centers, 9 Labs, Informatics and Technology Trials Office, High Performance Computing Core 5 Organized for Synergy: • Predictive Analytics • Human Factors Engineering • Diagnostics A National Laboratory For HealthcareTransformation ($6B R&D Lab) Leading through continual innovation • Novel data streams and big data analytics • Re-engineering via IsysE approach • Emerging technology and Informatics • Rapid clinical innovation • Remote assessment/diagnostics/treatment • Transforming patient care • Engaging patients • Improving the healthcare value proposition Center for Clinical Innovation Center for Emerging Technology and Informatics Center for Re-engineering Healthcare
- 6. Data Generation Data Aggregation Performance Measurement Insight and Action Clinical Transformation and Reengineering Knowledge Generation • Careby- product • Transactional • Required for performance measurement • Establishes current state • Deployed as visualization, alerts and reminders • Basis for new models of care delivery • “What to do in a patient like mine?” Natural Language Processing Data Warehousing Dashboards Anticipate and Mitigate Automation Machine Learning Enhancing the Data Value Chain
- 7. Six Drivers ofHigh Cost, Poor Quality Care • Mistakes • Unjustified variation • Fragmented care • Perverse payment incentives • Patient is a passive recipient of healthcare • Supply-demand mismatch
- 8. Patient Engagement Objectives Understand MyHealth Manage My Visit Control My Condition Patient Engagement
- 9. Value of PatientEngagement Patients engaged in their health tend to have better outcomes and potentially lower cost (Dentzer, 2013) • Fairview Health Services study showed patients with a Patient Activation Measure (PAM) of level 1 were 21% more expensive than patients with a level 4 score (Hibbard & Greene, 2013) • Shared decision making study of 60,000 patients showed patients participating had 5.3% in cost savings, 12.5% less inpatient admissions and 21% fewer heart problems (Veroff & Wennberg, 2013)
- 10. Using Technology forPatient Engagement To activate patients, you have to meet them where they are. (Hibbard, 2013) “Only 1% of a person’s life is spent with healthcare professionals” (Chase, 2013)
- 11. Empowering Patients ThroughTransparency: 11 Perspective The Road toward Fully Transparent Medical Records Jan Walker, R.N., M.B.A., Jonathan D. Darer, M.D., M.P.H., Joann G. Elmore, M.D., M.P.H., and Tom Delbanco, M.D. December 4, 2013 DOI: 10.1056/NEJMp1310132
- 12. Patient Portal Accessto Providers’ Progress Notes >85% of outpatient providers participating • 90% of patients understand their health and medical conditions better • 84% of patients take better care of themselves • 91% of patients feel more in control of their healthcare
- 13. Regular Care 100% Care Processesand Protocols (Digital) Automation Patient Activation Populations Workflow Modification Patients and Conditions Population Identification Bundle Development Delegation and Algorithms Low Efficiency and Reliability High Reengineering and Disruptive Innovation
- 14. Healthcare Transformation: EmpoweringPatients Potential Opportunities? • Enabling Data Sharing by Patients • Patients and Caregivers as co-writers/editors of medical notes with healthcare providers • Transparency in medical costs and outcomes • Sharing Predictive Analytics with Patients How? 14
- 15. Health Care Systems ChooseYour Partner Type Based on Needs/Goals • Traditional Academic • Hybrid Integrated-Clinic Model • Provider Only Systems 15
- 16. Know your HealthSystem Partner • Be aware of your healthcare system partner’s capital and budget cycles • Be aware of your partner healthcare system’s pain points • Be able to clearly articulate in a prioritized list what specific types of value you seek from your healthcare system partner including “must haves” and “nice to have” 16
- 17. First Steps • Gettingthe Opportunity-Contacts • Getting the right people on the call/in the room • Be Prepared-Anticipate Questions/Needs • Be Respectful of Time • Prompt/Relevant Follow-up 17
- 18. The Perfect Pitch • Clear and compelling vision • Convey your team’s ability to deliver • Highly relevant management team • Strong/credible market opportunity (size and growth) • Product Differentiation-better mouse trap or disruptive • The Solution-solve real pain point/must have • Financials-credible, clear, open, defensible 18
- 19. Terms of Partnership- Part 1 of 2 Be clear on what value you are willing to bring to the table at time of first discussion: • Cash • Non-Cash Equity Exchange • Technology • Services • Preferred Licensing • Future Royalties • Other? 19
- 20. Terms of Partnership- Part 2 of 2 Be clear on your ask of the Healthcare System partner at time of first discussion: • Determining the Value Proposition of the Intervention • Demonstrating Utility in a segment test-bed or “safe sandbox” • Utilizing Healthcare System Brand/Endorsement • Providing/Defining Market Opportunity (through Healthcare System Dissemination Partnerships) • Co-Development & Integration assistance (EHRs etc) • Clinical Trial for regulatory clearance (FDA) • Demonstration Site • Future Customer relationship • Cash Investment • Other? 20
- 21. Questions? Strategies for Startupsto Partner with Healthcare Systems Gregory J. Moore, MD, PhD Chief Emerging Technology and Informatics Officer Director, Institute for Advanced Application Twitter: @GJMooreMDPhD gjmoore@geisinger.edu