HealthXN, Selling to Health Markets in Australia for Peak15 & StartupHealthtech

1marc.niemes@healthxn.com
“Many new health initiatives fail
because they fail to address a problem
that anyone really cares about…..and
even if they do, they completely
underestimate how they will reach the
market and who will pay”
marc.niemes@healthxn.com
@niemesm

• Introductions
• This will be a successful session if…..
• Key Health Stats
• Health ®evolutions
• Models for High Growth Ventures
• Value Selling to Health
Workshop Format
@niemesm
Exercise

Our Purpose
“To improve patient care and
support the healthcare
industry and its suppliers
by assuring access to the right
knowledge in the right place at
the right time”….50% faster,
30% better.
@niemesm

Who we are:
Sector Credability
High Growth,
Scientific
Health & Private
Equity Knowledge
CTO, Dev
IP & Agreements
Impact Investing
and Philanthropy
Corporate Systems
and USA
????????

“What is missing from
with the team?”
@niemesm
????????

What about you?
@niemesm

• I work with or my idea is…..
• The top three things I want to be able to
walk out with today are……
• 1
• 2
• 3
http://padlet.com/marc14/
sellingtohealth
Hi my name is…..
@niemesm

• ~10% of Australian GDP (Is that the right level?
• ~15% of Workforce
• Workforce Decreasing, Demands
increasing
• Time to competence ~7+ years
(postgrad)
• Balance with “Unqualified Labour”
• Hospitals 80% same workload
• Allied Health
• Only Starting its Digital Journey
Some Key Health Statistics
@niemesm

“Money is on getting sick not
on getting well, its not
HealthCare its not Wellness, its
SickCare” miniMD.net
@niemesm

Health Market EcoSystem

1. Interoperability, Like a Bank
2. Workflow Guide/Streamline
Logistics, like Hong Kong Harbour
3. Health Knowledge Transfer &
Aggregation,
4. Engagement, Personalised
Healthcare & Biometrics
5. Predictive Health, Big Data
6. Leadership & Mentorship
5+1 Necessary Health (R)evolutions
marc.niemes@healthx
@niemesm

marc.niemes@healthxn.
@niemesm
1. What is the problem?
– Remember: People buy into Why you are doing it, not
just how….
2. Who is impacted/will pay?
– Clinicians (Say yes or no but no $$$)
– Operations (Loose/Loose or Win/Win)
– Executives
3. Who/How will your team demonstrate this
service?
4. Improving access to a service through better
affordability/efficiency will trump an increase in
clinical accuracy
Top 3+1 (contentious) Health Tech Start-up Tips

• Fact/Story
• Problem: To solve the problem of…..
• Benefit#1: To enable XXXXX
• Benefit#2: That also supports XXXX
• How: We achieve this by….
• Channel:
sellingtohealth
Hi my name is…..
@niemesm

@niemesm
“Excuse me for writing a long letter, I
didn't have time to write a short one.”
(George Bernard Shaw).

• Dr Tom McKaskill, “Dr Exit”
Model for high growth Ventures
@niemesm

Model for high growth Ventures (14)
@niemesm

@niemesm
“Lets document your Ultimate Growth
Strategy Wheel of Success”

1. Right Place, Right Time
– New product, new way, new time (Health Hack Example)
Growth Ventures: The Market
@niemesm
Exercise

@niemesm
2. The Compelling Need to Buy
– The Health Problem you are solving and who is buying.
Exercise

@niemesm
3. The Right Customer
– What is the “tight” definition of your customer
– Easily identified
– Easy to approach
– Willing and Able?
Exercise

@niemesm
4. Channels to Market
– B2B, B2C, B2B2C
– Wholesale
– Retail/Direct
– Partners
– Willing and Able?
– Conflict/Margin
• Work out channel first before product dev
– Crowd Sourcing
• Regulatory Environment
Exercise

@niemesm

Growth Ventures: Realising the opportunity
@niemesm
5. Innovation as the driver
– Create more value by reducing costs
– Enhancing customer Utility/Experience
Exercise

@niemesm
6. A competitive Advantage
– Unlikely to be alone
– Dimensions of Utility, user experience
– Focal market
Exercise

@niemesm
7. Sustainability
– More than an initial single advantage
– Whole supply chain
Exercise

@niemesm
8. Scalability
– Easy Repetition
– Shortage of skilled labour?
– Knowledge codeafied
– What org structure
Exercise

@niemesm

Growth Ventures: Making it Work
@niemesm
9. A Clear Vision
– What are you doing, where are you going
– Know what business you are not in.
• As a leader it is about the first follower….
Exercise

@niemesm
10. A long term strategy (what is the
end/exit)
– Set the objectives (realistic or unrealistic)
– You then see the limitations
– Investments can be made to overcome
• Acquire or be acquired
– Its about why they are buying you not why you are selling
Exercise

@niemesm
11. Robust margins
– Burn Rate/Market Cap
– Loss Leader
– Profit or Growth? Mix.
– Freemium
Exercise

@niemesm
12. Management of Risk
– ½ sales, 2*the costs
– Involve partners
– Things will go wrong, so allow for it.
Exercise

@niemesm

Growth Ventures: Turning the Wheel
@niemesm
13. A capable Management Team
– Know what you are good and not good it
– Collective skills
– Entrepreneurial mix
– What is their sense of purpose and does it align to yours
– Close but not too close
Exercise

Growth Ventures: Turning the Wheel
@niemesm
14. Profitable
– When and How
– What can we commercialise early
Exercise

• Start-ups often are “on a mission”
• Growth rates above 15% often require
external investment
• Is the value your system or the customers
“any” system could get
Growth Ventures: Some Points
@niemesm

Sales =
@niemesm
Trust Cost

• Sell to or buy from?
– You, Free, Sex, Money
• Frame of Reference
– Time
– Money
– Family
– Health
– Actualisation
Value Selling to Health
@niemesm
Exercise

• Fact/Story
• Problem: To solve the problem of…..
• Benefit#1: To enable XXXXX
• Benefit#2: That also supports XXXX
• How: We achieve this by….
• Channel:
sellingtohealth
Hi my name is…..
@niemesm

@niemesm
“The reasonable person adapts them
self to the world; the unreasonable
one persists in trying to adapt the
world to themselves. Therefore all
progress depends on the
unreasonable person.” (George Bernard Shaw).

HealthXN, Selling to Health Markets in Australia for Peak15 & StartupHealthtech

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