mHealth apps: Building for Success Presented at Apps For Health, Mohawk College, May 16, 2013 Presented at COACH eHealth conference, Ottawa, June 5, 2013 "Building for $uccess"

1. Research
&
Development
in
mHealth
Building
for
$uccess
Launching
a
successful
m-­‐Health
startup
Adam
Cole,
Coral
CEA
Apps
For
Health,
May
16,
2013

2. Building
for
$uccess
Part
I
–
The
Environment
Part
II
–
RecommendaEons

3. adam
cole
• Health
technology:
20
years
of
startup
and
entrepreneurial
experience
• Built
a
company
with
>15
employees
• P4H
acquisiEon
by
McKesson
• McKesson
new
product
launches
and
M&A
• CCTN
employee
#1,
grew
to
250+,
$34M
in
grants
• Coral
CEA,
~70
grants,
focus
on
data
liberaEon
• Titles:
CIO,
CTO,
VP
IT,
Founder,
Director
Health
• Various
boards
and
advisor

4. Many
people
enter
mHealth
space
envisioning
a
journey
that
looks
something
like
this…

5. Wrecked
and
abandoned
vehicles,
Hwy
80
linking
Iraq
&
Kuwait,
Post
Desert
Storm
Reality
looks
more
like
this…

6. Animated
slide:
Goal
is
to
take
your
company
from
startup
(bike)
to
high-­‐performance
(sports
car)
while
avoiding
common
traps/piBalls
(junk
car)

7. There
are
Successes
PointClickCare
Revenues
$60M
WellDoc
Angel
$17M
Excelleris
~5%
of
B.C.
pop.
Adimab
VC
$40M
PaEents
Like
Me
Awarded
$2M
RWJF
Castlight
Health
Series
D:
$100M
23andMe
Series
D:
$58M
ZocDoc
Revenues
est.
$35M
iTriage
Acquisi[on
est.
$25M
Fitbit
$300M+
valua[on

8. For
every
one
m-­‐Health
success
there
are
countless
failed/abandoned/unsuccessful/unsustainable
health
apps

9. $
(Revenue,
valuaEon,…)
Consumer
health
Popula7on
health
Commercial
health
m-­‐health
e-­‐health
wellness
enterprise
devices
biotech
Who
pays?
individual
à
employer,
health
company
à
insurer,
gov’t

10. Healthcare
system
Aging
populaEon
More
quanEty
&
more
expensive
intervenEons
drugs
devices
diagnosis
EscalaEng
administraEon,
management,
paperwork
Obesity
epidemic
and
chronic
disease
burden
FragmentaEon:
Care,
communicaEons,
administraEon,
research,
public
health

11. Healthcare
system
Consumerism,
self-­‐ownership
AutomaEon
&
lean
pracEces
IntegraEon
PrevenEon,
educaEon,
address
social
determinants
Involve
the
family
CoordinaEon
(vs.
siloed
care)
Free
markets,
compeEEon
Incent
efficiencies

12. Global
Economies
(GDP)
United
States
of
Healthcare,
$3.2T
Canadian
Healthcare
Economy,
$207B

13. Tradi7onal
Retail
Model
Vendor
sells
to
Consumer
(1:1
relaEonship)

14. Healthcare
Retail
Model
Vendor
sells
to
???
(1:3
relaEonship)
Pa7ent
Payer
Provider

16.
Pa7ent
-­‐Consumer
-­‐PopulaEon
-­‐Caregiver
Payer
-­‐Insurance
-­‐Employer
-­‐Public/Gov’t
Provider
-­‐PCP/allied
HCP
-­‐Pharmacists
-­‐Hosp/LTC
-­‐LHINs

17. Hospitals
Hospitals
Animated
slide:
Complexity
of
healthcare
system.
Note
that
hospitals,
as
significant
as
they
are,
are
but
one
minor
facet
of
overall
system.

18. What
is
the
answer
to
this
integraEon
complexity?
• Minimize
dependencies

19. What
is
the
answer
to
this
integraEon
complexity?
• Minimize
dependencies
• Embrace
ecosystems/partnerships

20. What
is
the
answer
to
this
integraEon
complexity?
• Minimize
dependencies
• Embrace
ecosystems/partnerships
• Share
data
and
promote
open
data
– UHN

21. What
is
the
answer
to
this
integraEon
complexity?
• Minimize
dependencies
• Embrace
ecosystems/partnerships
• Share
data
and
promote
open
data
• Provide
value
back
to
those
whose
data
you
want
– Use
their
customer
as
a
surrogate

22. 49%$
35%$
15%$
1%$
Costs$Popula7on
Costs
5%
of
our
populaEon
accounts
for
84%
of
the
costs!
Whereas
half
of
the
populaEon
accounts
for
only
1%
of
the
costs.

23. Perspec7ve:
The
25yo
male
technophile
syndrome
Avoid
the
blinders
inherent
to
your
own
perspec[ve.

24. Building
for
$uccess
Part
I
–
The
Environment
Part
II
–
RecommendaEons

25. Avoid
OPM

26. However,
if
you
do
work
with
OPM…

28. What
to
know
when
pitching
your
first
VC,
Mark
Ruddock

29. MVP

30. MVP
• Be
nimble
• Learn
• Iterate
• Adapt
• Know
your
market
• PerfecEon
is
the
enemy
of
good
enough

31. Dropbox
MVP

32. Dropbox
MVP
• “Experiments
were
failing
leq
and
right”
• Cost
per
acquisiEon
was
$233
-­‐
$388,
for
a
$99
product
• Lots
of
pressure
(or
guilt)
to
do
things
the
tradiEonal
way
• One
size
doesn’t
fit
all
• Build
the
right
thing
over
building
things
right

33. Big
problems
Focus
on…

34. Prac7cal
problems
Focus
on…

35. The
Enterprise
Focus
on…

36. Revenues
Focus
on…

37. Execu7on
Focus
on…

38. Integra7on
Focus
on…

39. MVP
Focus
on…

40. Focus
on…