Great piles of cash are descending on entrepreneurs who develop health care apps, but that doesn’t make it any easier to create a useful one that your audience will adopt. Furthermore, lowered costs and streamlined application development technique let you fashion a working prototype faster than ever, but that also reduces the time you can fumble around looking for a business model. These were some of the insights I got at Spring Fling 2012: Matchpoint Boston, put on by Health 2.0 this week.
This conference was a bit of a grab-bag, including one-on-one meetings between entrepreneurs and their potential funders and customers, keynotes and panels by health care experts, round-table discussions among peers, and lightning-talk demos. I think the hallway track was the most potent part of this conference, and it was probably planned that way. The variety at the conference mirrors the work of Health 2.0 itself, which includes local chapters, challenges, an influential blog, and partnerships with a range of organizations. Overall, I appreciated the chance to get a snapshot of a critical industry searching for ways to make a positive difference in the world while capitalizing on ways to cut down on the blatant waste and mismanagement that bedevil the multi-trillion-dollar health care field.
Let’s look, for instance, at the benefits of faster development time. Health IT companies go through fairly standard early stages (idea, prototype, incubator, venture capital funding) but cochairs Indu Subaiya and Matthew Holt showed slides demonstrating that modern techniques can leave companies in the red for less time and accelerate earnings. On the other hand, Jonathan Bush of athenahealth gave a keynote listing bits of advice for company founders and admitting that his own company had made significant errors that required time to recover from. Does the fast pace of modern development leave less room for company heads to make the inevitable mistakes?
I also heard Margaret Laws, director of the California HealthCare Foundation’s Innovations Fund, warn that most of the current applications being developed for health care aim to salve common concerns among doctors or patients but don’t address what she calls the “crisis points” in health care. Brad Fluegel of Health Evolution Partners observed that, with the flood of new entrepreneurs in health IT, a lot of old ideas are being recycled without adequate attention to why they failed before.
I’m afraid this blog is coming out too negative, focusing on the dour and the dire, but I do believe that health IT needs to acknowledge its risks in order to avoid squandering the money and attention it’s getting, and on the positive side to reap the benefits of this incredibly fertile moment of possibilities in health care. Truly, there’s a lot to celebrate in health IT as well. Here are some of the fascinating start-ups I saw at the show:
hellohealth aims at that vast area of health care planning and administration that cries out for efficiency improvements–the area where we could do the most good by cutting costs without cutting back on effective patient care. Presenter Shahid Shah described the company as the intersection of patient management with revenue cycle management. They plan to help physicians manage appointments and follow-ups better, and rationalize the whole patient experience.
hellohealth will offer portals for patients as well. They’re unique, so far as I know, in charging patients for certain features.
Corey Booker demo’d onPulse, which aims to bring together doctors with groups of patients, and patients with groups of the doctors treating them. For instance, when a doctor finds an online article of interest to diabetics, she can share it with all the patients in her practice suffering from diabetes. onPulse also makes it easier for a doctor to draw in others who are treating the same patient. The information built up about their interactions can be preserved for billing.
Head of onPulse presents demo.