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David Scher on Getting Digital Health to Grapple with Reality

January 27th, 2014
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David Scher’s post was originally published on The Digital Health Corner.

At Popper and Company, we’ve written about the importance of gaining consumer—and physician—acceptance of digital health technology. In his post, digital health expert and physician David Scher points out five obstacles standing in the way of obtaining real adoption of digital health:

  • creating or integrating processes to enable the new technology’s use,
  • knowing how patients behave as customers,
  • assumptions that government funding eases acceptance,
  • developing new business models and partnerships, and
  • identifying realistic outcomes.

We believe in helping facilitate the convergence of healthcare with technology and other industries. Thus, we hope you will read David’s full post on The Digital Health Corner to learn more about his ideas.

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Final Steps in Creating Strategic Partnerships—Contacting and Contracting

November 19th, 2013
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This is Part 4 and the last in a series of blog posts on best partnering practices for life sciences and health tech companies. Read the previous posts in the series for Part One, Part Two, and Part Three.
 
In our previous post on partnering steps, I outlined the creation of a matrix of potential business partners that reflects a well thought out process of evaluating your company’s and your potential partner’s strengths, weaknesses and interests. In this post, I’ll talk about initiating contact and structuring an agreement.
 
The initial approach to a potential partner is most often determined by the extent to which a personal relationship exists between you (or your advisor) and a decision-maker at that company. Where there is a personal relationship, a relatively informal approach can often be used to quickly determine interest in an exploratory meeting. Without a personal connection, a more formal approach is called for, with written queries and a more structured method. Read the rest of this entry »

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Q&A: Seamless Medical’s David Perez is Giving the Physician Waiting Room a 2.0 Update

October 14th, 2013
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David Perez is the founder and CEO of Seamless Medical Systems, a New Mexico-based company that developed cloud-based patient-engagement platforms that integrate electronic medical records (EMRs) and other health data to create a complete health profile for any patient. SNAP® Practice, a Seamless product, engages a patient starting with registration in the waiting room, extending to the exam room while connecting patients and practice via any mobile device outside of the office. Popper and Company’s Ken Walz interviewed Perez about Seamless Medical Systems and what he sees ahead in the future of healthcare technology. Read the rest of this entry »

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Is Digital Health the Key to Bringing Control to Drug Costs?

October 1st, 2013
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A recent article in Forbes by Matthew Herper points to one of the most significant opportunities for innovation in medicine – drug development costs. Herper estimated that a single drug can cost $5 billion to discover and develop – five times the conventional wisdom, which has long settled on $1 billion as the average cost to create a new drug.
 
The fact that drug development is expensive is, of course, well known, and is why there is no easy solution to the problem of high – sometimes astronomical – prescription drug prices. When looking at total healthcare costs, it is worth noting that there are many drivers in addition to drug costs. Vlogger John Green, in a widely circulated video last week, argues that every input in healthcare is too expensive. And, according to Susan Desmond-Hellmann, chancellor of UCSF, these cost increases are “not sustainable.” But certainly, prescription drug costs are a significant part of the problem. Separate from these arguments, pharmaceutical companies are often criticized for new treatments that are extraordinarily expensive (the CF drug Kalydeco at a cost of $294,000 per year is a recent example) and for the fact that many charge higher prices in the U.S. than they do in other countries.
  Read the rest of this entry »

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Discovering the Perfect Partner

August 23rd, 2013
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This is Part 3 in a series of blog posts on best partnering practices for life sciences and health tech companies. Read the previous posts in the series for Part One, and Part Two.
 
A lesser-known fact about Isaac Newton’s famous quote, “If I have seen a little further it is by standing on the shoulders of Giants,” is that he wrote it to rival scientist Robert Hooke, praising Hooke’s work. As we now take the next steps toward forming strategic partnerships, the application of the quote for us is that help may be found in unexpected places.
 
When we work with clients on partnering strategy, we combine the step of looking for categories (e.g. markets, segments, regions) with the steps of identifying specific companies that may represent attractive potential partners. We often will present the result of this exercise as a matrix, with the categories as columns and the companies as rows. It can look something like this (but may have much more refined categories than this example):  Read the rest of this entry »

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New WellPoint Plan Increases Healthcare Consumer’s Level of “Skin in the Game”

July 9th, 2013
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When Warren Buffett used the phrase “skin in the game,” he referred to company managers investing in their own companies. In healthcare, we’ve discussed how equally important it is for consumers to also have some “skin in the game,” bearing at least some responsibility for their costs of care.
 
A recent Wall Street Journal article (subscription required) discusses how WellPoint, the nation’s second-largest health insurer, has developed a group plan in which consumers would be responsible for the cost of medical services in excess of that offered by their employer plans. While WellPoint’s idea doesn’t appear groundbreaking at first, this type of plan would dramatically shift the dynamics of healthcare costs.
 
Here is how the Journal’s Anna Wilde Matthews described the WellPoint plan:
  Read the rest of this entry »

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Strategic Steps Two and Three on Creating your Big Picture

June 11th, 2013
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Albert Einstein once said, “The process of scientific discovery is, in effect, a continual flight from wonder.” While product development processes differ from scientific discovery, they still can be a subject of wonder for many a life science executive. In a previous Popper and Company post, I addressed the first step toward successfully introducing a new product or service, namely knowing where you are in the process. In this post, I’ll cover two more important steps to commercialization: determining the right partner and refining your strategy.
 
Step Two: Pick your partner (and your partnership arrangement) wisely
When looking to commercialize a healthcare innovation, the first item of consideration for most life science companies is usually money. But a number of other important issues need to be addressed before positive cash flow becomes a reality. One matter is looking for organizations or people who can help you. The most common need of a new enterprise or startup organization is a partner with development expertise that you and your firm may lack.
  Read the rest of this entry »

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Small Strategic Partnering Steps Can Create Your Big Picture

May 21st, 2013
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For a new life sciences company seeking to partner early in its development process or even for an existing company in need of a partner to advance a product or technology, creating an overall strategy isn’t as easy as it sounds. After having worked with dozens of life science companies – of various sizes, stages of growth and points along the product development cycle – I’ve identified a series of “steps,” that provide a sense of strategic direction as you seek partners in the journey from the laboratory bench (or work room) to market. In this post, I outline the first step – knowing where you are in the strategic partnering process.
 
Step One: Know where you are in the strategic process
Many companies have a strategy developed already. In other cases, they don’t. Some life sciences companies are in very early stages where they have technologies or intellectual property that might be of commercial value, but haven’t formulated thoughts on where the innovation might have the most value, or where the easiest path to value might lie – particularly from a partnering perspective.
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When Seeking Partners, Look for the un-Usual Suspects

April 1st, 2013
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For many new and growing companies, it’s not enough to have a plan for identifying strategic partners. You also need to successfully implement the plan—and that’s often easier said than done.
 
Reaching your company goals will no doubt require more capital, perhaps new investors to inject that capital, more third-party involvement, and probably a partner to help with product commercialization. New outside stakeholders add another dimension to your goals; now you’ll need to see how your product/service fits into someone else’s strategy.
 
How do you find the right fit? The answer actually lies in getting creative in a way that expands the universe of potential partners.
  Read the rest of this entry »

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Quantified Self: We Get the Data, But Where’s the Information?

February 19th, 2013
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Now that a few of the year’s first conferences with a “future of health” or “digital health” focus (e.g., the Consumer Electronics Show (CES) and the JP Morgan Healthcare Conference) have passed, I thought it would be a good time to consider whether consumer-oriented digital health products truly affect outcomes, as often promised.
 
CES featured an abundance of consumer-oriented devices to measure fitness and track physical activity. There are a growing number of companies – like Jawbone, Fitbit, Nike and Withings – that offer tracking devices, or are introducing new versions. They’re all fairly imprecise by some standards, and measure a variety of parameters, such as number of steps per day, body temperature, heart rate or galvanic skin response, that are then analyzed to measure fitness in a non-specific way.
  Read the rest of this entry »

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