Credit Suisse, https://www.credit-suisse.com hosted their first “Healthcare Disruptive Technologies & Innovations (HCDT&I) day in Chicago. Keynoters included Executives from the Center for Telehealth and e-Health Law (CTel) https://ctel.org along with other top executives to include:
- Eden Health, https://www.edenhealth.com (Matt McCambridge, Co-Founder and CEO),
- First Stop Health, https://www.fshealth.com (Patrick Spain, Chairman CEO)
- H4D https://www.h-4-d/.com (Dylan Attia, Managing Director for U.S Operations)
- higi https://higi.com (Jeff Bennett, CEO)
- Privia Health https://priviahealth.com (Shawn Morris CEO)
- RxAdvance https://www.rxadvance.com (Ravi Ika Founder and CEO & President and Anand Tati, Chief Strategy Officer, Liz Thomas, Strategy Lead),
- VillageMD, https://www.villagemd.com (Tim Barry, Co-Founder, CEO, Paul Martino, Co-Founder and Chief Strategy Officer, and Ross Levine Chief Financial Officer),
- VirtualHealth, https://www.virtualhealth.com (Dr. Hants Williams, Director of Clinical Operations)
- Zipnosis, https://www.zipnosis.com Jon Pearce, CEO.
Christa Natoli, Deputy Executive Director, Center for Telehealth and e-Health Law (CTeL) and Aileen Berquist, Project Coordinator for External Affairs at CTeL recounted how Congress at one time decided to put restrictions on telemedicine. CTeL experts noted that the Congressional Budget Office does not yet have enough data to remove these restrictions. However, CTeL is working on pulling back these limitations initially designed in the Consolidated Appropriation Act.
As explained, since the list of reimbursement services for telehealth is increasing every year, the challenge still remains around Medicare still having some purposeful restrictions around telehealth reimbursement. Still even with the restrictions, on average the telemedicine company utilization rates range from 3%-11%.
CTel is encouraged by the President Trump’s Executive Order related to the push for telehealth as there were three provisions in the Executive Order which were designed to protect Medicare and specifically with telehealth.
Snapshot: Business Models highlighted:
- Eden Health, provides a primary care model integrated with behavioral health deployed online in addition to physical clinics that the company owns and operates. The company’s mobile app provides nationwide access to their care team 24/7. Eden Health’s pop up clinics essentially convert a conference room at an employer location into a doctor’s office
- First Stop Health (FSH) provides telemedicine services through employers to their employees by using a high engagement and high utilization tech-enabled platform serving members clients and physicians as an integrated system.
- H4D wants to make the clinical exam as comprehensive as possible by incorporating video based telemedicine and also aims to take all of the positive aspects of telemedicine and combine it with testing capabilities so clinical exams will be as comprehensive as possible
- higi, gives consumers access to track their health data through their network of over 10K FDA cleared smart health stations and over 80 integrated health devices and apps. The higi stations are used nearly one million times per week at pharmacy retailers, community locations, and nationwide employer worksites
- Priva Health operates through physician groups, ACOs, and population health management programs plus works in partnership with health plans, health systems, and employers. Privia Health operates is 6 states and jurisdictions and has partnered with more than 2,500 healthcare providers
- RxAdvance has built the PBM Cloud ground-up on a unified data model, enabling a more collaborative, integrated, and comprehensive approach to pharmacy benefit management. The company’s platform enjoys 30% lower operating costs than other PBMs and has reduced costs for health plan sponsors
- Village MD deals with patients with chronic diseases and has created a platform that allows the company to engage primary care physicians and work through both an employed model as well as a partnership model.
- Virtual Health’s flagship platform, HELIOS enables collaboration and coordination with the members and their care team. The platform supports value-based reimbursement models within the payer market. HELIOS integrates clinical, behavioral, and social data streams into a single, complete patient view. The data combines real time data with intelligent, automated, and responsive workflows to empower proactive interventions
- Zipnosis offers a virtual care platform that uses traditional telemedicine with next-generation online virtual care tools. The company markets their software directly to healthcare providers which use Zipnosis technology to offer their own online care
Presenters also noted that the telehealth model can be highly cost effective when managing chronic care conditions, the 50% utilization rate is primarily driven by high engagement platforms, and strong marketing efforts are driven by both employers and telemedicine vendors.
The next HCDT&I Day will be November 14th in San Francisco. Presenting companies include Grand Rounds, Uber Health, Heal, Advanced ICU Care, Glooko, Kura MD, Omada Health, HeyDoctor (recently acquired by GoodRx), and Vida Health. The keynote speaker will be Rajeev Ronanki, SVP & Chief Digital Officer at Anthem.
For more information or to provide feedback, email Jailendra Singh at jailendra.singh@credit-suisse.com or call 212-325-8121.