TECHNOLOGY VENTURES IVNudging Healthy Lifestyles with Digital Technologies Manchester Metropolitan University Business School in partnership with the University of Manchester, mHealth Innovation Centre and the European Connected Health Alliance*New Building: MMU Business and Law School, All Saints, OxfordRoad, Manchester, M15 6BH
Trends• 2.9 trillion dollars wellbeing market in the US Healthcare Expenditure• Self care and personal diagnostic markets growing at a rate of 8 to $ 2,500,000,000,000 12 % a year 17.6% GDP• 4 out of 5 people using social media have searched or £136,000,000,000 downloaded health related data 9.6% GDP• 12 million people on self care in the UK
Policies for Limiting Spending– Wage and price controls– Controls on volume of inputs– Budget caps– Shifting costs to private sector– Disease prevention and health promotion– Gate-keeping/triaging– Care coordination/integrated care/self care– Further shift from hospital to ambulatory care– Improving payments methods/incentives to hospitals– Overseeing technological change
More Fixes- Focusing incentives on patients recovery- Saving lives and dollars by designing clearerwork processes- Sharing knowledge through industrynetworks- Knocking down barriers to innovation infunding, policy, and technology- Treating common ailments with simplerinterventions- Bridging the divide between clinicians andadministrators- Ramping up R&D productivity by returningpower to scientists
Vision• “In the next phase of medicine, powerful digital tools including mobile sensors and advanced processors will transform our understanding of the individual, enabling creative mash-ups of data that will spark entirely new discoveries and spawn ultra- personalized health and fitness solutions.” • Eric Topol
Some Drivers– Due to existing laws and regulations (or the lack of them), low but steady growth in personally- controlled health records; e.g., PatientsLikeMe with 167,151 patients, Oct 2012.– Access by patients to online health records by law by 2015 in the UK– Meaningful use of health records initiative - US$20 Billion– Proliferation of personal devices to acquire and manage health data.
Current Challenges• Joint visions and technology infrastructures based on open standards• New ‘two-sided market’ business models combining public/private; profit/non-for-profit• New healthcare practices empowering patients and integrating prevention and intervention• Fostering and accelerating innovation; e.g., knowledge transfer opportunities, accelerators, reducing mental gaps and fostering open collaboration• Addressing the finance gap; e.g., reaching finance networks, crowdfunding.