IIT Bay Area Leadership Conference Presentation June 9, 2018
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The document highlights the current state of innovation in healthcare, the opportunities and challenges.
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IIT Bay Area Leadership Conference Presentation June 9, 2018
- 1. © Damo Consulting 2018 Innovations in Healthcare Paddy Padmanabhan paddy@damoconsulting.net @paddypadmanabha IIT Bay Area Leadership Conference | June 9, 2018
- 2. © Damo Consulting 2018 #@paddypadmanabha
- 3. © Damo Consulting 2018 Healthcare trends driving innovation Healthcare Reform & shift to value-based care Emerging data sources : IoT, genomics, social determinants Shift towards outpatient and home-based care Population health management Emerging Technologies: AI, blockchain, AR/VR @paddypadmanabha 3 Rising healthcare consumerism
- 4. © Damo Consulting 2018 Innovation areas in focus @paddypadmanabha 4
- 5. © Damo Consulting 2018 Where is all the money going ? @paddypadmanabha On average, $5.2 billion was invested in the U.S. Health IT market in each of the last 5 years. ─ Healthcare Growth Partners, Jan 2018 5
- 6. © Damo Consulting 2018 Innovation funds: how providers are supporting innovation UPMC enterprises corpus: $120M annually (a part of the UPMC R&D budget - less than 1% of UPMC revenue). Partners Healthcare fund: $171.1 million to develop new technologies in the laboratories of Partners HealthCare system. Mayo Clinic venture innovation fund: 4% of Mayo Clinic Ventures net licensing income with a focus on early stage and concept technologies. Intermountain innovation fund: $35 million fund (launched in 2015 and managed by Healthbox, a partner for innovation and entrepreneurship in healthcare). Optum venture fund: $250 million (launched in November 2017 to invest healthcare data and insights companies. @paddypadmanabha 6
- 7. © Damo Consulting 2018 Non-traditional market partnerships driving innovation Humana, MultiPlan, Optum, Quest Diagnostics and UnitedHealthcare partner to launch a blockchain driven pilot program JPM, Amazon, and Berkshire form joint venture to focus on using big data, virtual technology, better customer engagement and more consumer choice to address critical healthcare problems and issues. @paddypadmanabha 7
- 8. © Damo Consulting 2018 Innovation ecosystem* *From The Big Unlock: Harnessing data and growing digital health businesses in a value-based care era @paddypadmanabha The custodians We have the data and the workflow The enablers We built it, you can rent it The arbitrageurs We can do it for you (and for less) The innovators We have a whole new way of doing it Healthcare Enterprises 8
- 9. Damo Consulting is a growth strategy and digital advisory firm that works with healthcare enterprises and global technology companies. We help develop and implement digital transformation strategies and enable market growth strategies. We specialize in thought-leadership led brand transformation and actionable healthcare market intelligence USA One Lincoln Center, 18W140 Butterfield Road Oakbrook Terrace Suite 1500 Oak Brook, Illinois, 60181 Phone : (630) 613-7200 INDIA Mariam Center, 7M - 302, 3rd Floor, HRBR Layout, Bangalore - 560 043 Phone : +91 8064051999 Email : info@damoconsulting.net | Website : www.damoconsulting.net https://www.damoconsulting.net/book-the-big- unlock/ https://www.cio.com/blog/healthcare-technology-trends/