Recap with Senior Executives

Credit Suisse recently hosted the 2nd Healthcare Disruptive Technologies & Innovations (HCDT&I) meeting in San Francisco with Executives from Anthem, Advanced ICU Care, Glooko, Grand Rounds, Heal, Hey Doctor, Kura MD, Omada Health, Uber Health, and Vida Health.

Rajeev Ronankio SVP & Chief Digital Officer at Anthem reports, “The Company’s joint venture with American Sell now makes it possible to have a nationwide network for telemedicine providers. There are plans to leverage the telemedicine network and capabilities for their CareSpree project which Anthem defines as digital’s first insurance product.”

Anthem sees adoption of their digital tools and capabilities including telemedicine, taking place in the commercial market, primarily driven by large self-insured national accounts. Management believes that it is the responsibility of health insurers to push for more telehealth utilization. Across the board, Anthem has about 30-35% utilization for telemedicine where it is available, but where employers promote telemedicine, 80% of the people tend to use it.  

The company is focused on leveraging AI, robotics, augmented reality, virtual reality, blockchain, and other innovative solutions and integrating them into a platform-based approach called the “Anthem Digital Platform”.

According to Doug Sumaraga, CEO& President at Kura MD, his company offers a telehealth platform for workers’ compensation and general health. In early November, the company released the first commercially available workers’ compensation SaaS telehealth platform.

In other technology news, Advanced ICU Care (AICU) provides remote inpatient monitoring services and is currently servicing ICUs and telemetry units 24/7 365 days a year, according to Lou Silverman, Chairman/ CEO. Over 1,500 beds at 100 hospitals and more than 80 K patients are served on an annual basis. The bulk of AICU’s business is in Tele-ICUs however, the company has expanded into telemetry monitoring for patients in hospitals but not is not monitoring patients in the ICU.

The company sees opportunities to initiate post-acute services and further develop the international market. AICU sees opportunities in the software-only market, device monitoring partnerships, and expanding and/or extending their proprietary HUB software capabilities.

Several Executives addressed chronic care conditions and discussed employing a combination of data analysis, behavior interventions, and connected devices to drive healthier habits among patients with chronic conditions.

For example, Russ Johannesson, CEO, Glooko discussed how the company uses technology to enable people with diabetes to sync, review, and analyze their glucose levels in context with their medications, along with their fitness and carb intake data. Both patients and providers have access to Glooko via a mobile app and a cloud-based web app which can be accessed anywhere and anytime. About 50% of the company’s revenue is generated from a SaaS software business. The other 50% of revenue results from large strategic partnerships with other players such as pharma, payers, CROs, etc.

Also, working with the diabetic community, Sean Duffy Co-Founder/CEO of Omada Health, a digital care program, empowers people to achieve health goals through lifestyle changes. Working primarily through health plans, employers, and integrated health systems, the company provides personalized interventions for individuals at risk for or dealing with type 2 diabetes and hypertension as well as anxiety and depression.

Nick Desai, Co-Founder/CEO of HEAL described how the company uses technology to make it easier for patients to call a doctor for a same-day visit in their home. At the end of the visit, the company may book a follow up or install a remote monitoring hub in the home to track the patient’s progress across data points. The HEAL Hub platform provides real-time remote monitoring which has helped to reduce hospitalizations by 28% while delivering 81% gross margins to HEAL.

Brendon Levy, Founder/CEO & Rohit Malhotra VP, Business Development for HeyDoctor explained how after GoodRx acquired Hey Doctor, they launched their own virtual care platform called “GoodRx Care” powered by HeyDoctor. The new platform is used as a primary care tool allowing patients to see a board certified clinician with most visits priced at about $20. Services also include lab testing, prescription refills, and treatment for acute medical conditions.

Presenters note that having a platform to address multiple chronic conditions helps them to better manage patients’ health, provide for higher utilization and consumer engagement, and improve clinical outcomes. Vita Health a digital chronic condition management company, offers multifaceted systems for managing a number of physical and behavioral chronic conditions.

According to the presenters, consumer engagement is the key to success and has become increasingly important for all healthcare industry stakeholders. Payers and providers are increasingly evaluated through rating systems that incorporate customer satisfaction and engagement. While early trends have been encouraging, several executives note that the industry really needs sustained consumer engagement to achieve meaningful health outcomes.

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