Presentation to Wharton's Healthcare Entrepreneurship class on March 4, 2015. "So you want to be a digital health entrepreneur?"

1. So you
want to be a
digital health
entrepreneur?
Chris Hogg
Chief Operating Officer
Propeller Health
@cwhogg

3. “Can you imagine how awesome it would have been
to be an entrepreneur in 1985 when almost any dot
com name you wanted was available?”

4. We are still
disconnected from
our health

5. Being disconnected
still
leads to poor health

6. EMRs
Sensors
Smartphones
Public Policy
(ACA)
The Great Convergence

7. Health is a Data
Problem

8. 12/31/05 1/31/06 2/28/06 3/31/06 4/30/06 5/31/06 6/30/06 7/31/06 8/31/06 9/30/06 10/31/06 11/30/06
A medical record is a punctuated data stream
PersonalHealthData

10. PersonalHealthData
12/31/05 1/31/06 2/28/06 3/31/06 4/30/06 5/31/06 6/30/06 7/31/06 8/31/06 9/30/06 10/31/06 11/30/06
EMR data + user generated/sensor data = a complete picture

11. Don’t
underestimate
the difficulty of
making the data
useful
(and in workflow)

12. Doctor
NP/PA/Nurse
Care Coordinator
Technology

15. Molecular/cell biology
Digital Health
Entrepreneurship
Pharma Commercial Strategy
Healthcare
Investment Banking

16. Opportunity is missed by
most people because it is
dressed in overalls and
looks like work
Thomas Edison

17. 37,341 views
4,302 views

18. “Data as the next blockbuster drug”

20. Search ‘100plus vimeo’ for video

21. We did some things
right at 100Plus…

22. Focused on
delivering a
‘Consumer UX’

23. Used data effectively in UX

24. Experimented
and
Measured

25. We built a
good product
and built a
good team
(and did good PR)

26. And, we did some a lot of
things wrong at 100Plus…

27. Medical / clinical is converging with
health / wellness

28. Medical / clinical is converging with
health / wellness

29. We didn’t obsess
about user
acquisition

30. Fought the Market
(it tells you where to go)

32. I built a product,
not a company

37. Propeller Health uses technology
to help patients and providers
better manage asthma and COPD

38. Propeller sensors passively
capture information about
the daily use of medications

40. So you want to be
a
digital health
entrepreneur?

41. A few questions to
ask yourself…

42. Are you in it for the
fame, fortune and
adventure?
(be honest now)

43. What is your
target market?
(Wellness or Clinical,
but not both)

45. Corporate
wellness
Nothing today

46. Are you….
• A data creator
• A data aggregator
• A data analyzer
• Providing a human-powered service?

47. Narrow vs. Broad?

48. Find a niche you can own

49. What is the right problem for you to solve?

51. Can you leverage existing proof it will work?

52. What existing
tech trends can
you apply to
healthcare?

53. Synthesis

55. Disclaimer
IDEAS

57. Ideas
Execution
The Myth

58. Ideas Execution
The Truth

59. What is your Key Metric?
…………………….Hospitalizations for mental health
…………………Medication adherence
………………% of asthmatics who are controlled
…………………% of users with >5% weight loss
.…………………HbA1c

60. Engagement
is not
a Key Metric!

64. Caregivers
Patients
Testing
Potential
Enthusiasm

65. Build cheap prototypes

66. Measurably better respiratory health.Build a system
that allows you to
learn what works

67. Obsess
about user
acquisition from
day one
Brian Balfour
coelevate.com

68. Iterate.
Experiment.
Learn.
(User acquisition is your second product)
Brian Balfour
coelevate.com

71. Know your audience
Make your product simple
Make your product delightful
Make your product meaningful
Obsess about UX

72. • Meta-aggregators
– An integration and communication layer
around the EMR
• Full verticals
– Oscar, Adelaide, more coming
• TeleMedicine / nurses / coaches
– But not TeleDoc, more like Better for CF
patients
• Proliferation of sensors
– But for what purpose? What is the UX – that’s
the hard part

73. Technology is nothing. What’s
important is that you have a faith in
people, that they’re basically good and
smart, and if you give them tools,
they’ll do wonderful things with them.
Steve Jobs