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Mobile health (A-level capital)

  1. mHealth In Emerging Markets Dec 2016 By: Alex Sharata and Richard Li
  2. Content •  Global mHealth Industry Overview •  Monitoring Devices (Sensors) •  Service-Based Mobile Apps •  The Emerging Markets: Africa, Latin America and South Asia •  Key Challenges •  New Solutions
  3. Mobile Health Industry According to various sources, such as Statista and Allied Market Research, the global mobile healthcare market is further projected to reach $50-60 billion by 2020, at a CAGR around 30% from 2013 to 2020. The mHealth market is expected to yield significant revenues with increasing awareness level and favorable regulatory impositions specific to the quality and feasibility of mobile-based medical devices. Penetration of mobile phones in healthcare has created a long lasting impact on the overall health industry Definition: mHealth (mobile health) is a general term for the use of mobile phones and other wireless technology in medical care. •  The most common application of mHealth is the use of mobile phones and communication devices to educate consumers about preventive health care services. However, mHealth is also used for disease surveillance, treatment support, epidemic outbreak tracking and chronic disease management •  More specifically, mHealth can be classified in to to broader sectors: •  Monitoring Devices: The Healthcare Internet of Things Industry •  IoT Healthcare •  IoT Fitness / Wearable •  Service-based Mobile Apps: On-demand Healthcare Industry Patient Monitoring Devices Healthcare Mobile Applications mHealth Hospital based: ECG/BCG, Vital-sign monitor... Patiented based (portable/wearable): Blood glucose monitor... Mobile Tech: Smart watch/phone.. Appointment, Diagnosis, Drug delivery, Emergency Alert, etc. Source:Statista and Allied market Research
  4. Monitoring Devices (Sensors): Healthcare Internet of Things IoT Healthcare: Internet of Things (IoT) focused on consumer and/or at-home health care solutions IoT Fitness/Wearable: Internet of Things (IoT) focused on personal fitness and wellness solutions Value -- Original Market: The has predicted an explosive growth in healthcare IoT industry over the next several years. The market is projected to expand with a CAGR of 15.1% Value -- IoT + Big Data: Combined with Big Data, IoT is the key for healthcare organizations to accurately capture consumer needs, trends, and behaviors, actionable insights that will ultimately drive their revenues.; CB Insights “...clinical data is where the most successful institutions start their analytics problems. But to deliver a higher level of consumer satisfaction, healthcare providers must know a lot more about their patients and their needs than the EHR can tell...”
  5. Seven Categories of IoT Healthcare Startup Companies •  Clinical efficiency (Digital Medical Device + IoT): using connected objects to improve the delivery of healthcare in hospitals and clinics, and also track treatments to boost the effectiveness of healthcare providers •  Enable smart wearables like Google Glass to be used for healthcare charting: Augmedix and Obaa •  Harness the Apple Watch for doctors to track patient visits and access EMRs : Simplifeye •  Use IoT sensors for location-tracking on patients and medical equipment in real-time: Awarepoint •  Brain sensors/neurotechnology: hack the brain with high-tech consumer-targeted cranial wearables •  Read brainwaves with its brain-sending headband: Ybrain and InteraXon  •  Clinical-grade projects focused on noninvasive neurotech (brain wave reading/recording) in order to analyze drug efficacy and track neuropathology: Neurovigil •  Neurovigil raised a Q2’15 Series A from Draper Fisher Jurvetson and entrepreneur Elon Musk, among other investors •  Fitness wearables: •  Fitness tracking consumer wearables: Fitbit •  Smart Apparels: Lumo and OMsignal Source:CB Insight
  6. Seven Categories of IoT Healthcare Startup Companies Source:CB Insight •  Consumer/home monitoring: develop technology marketed to consumers for the collection of biometric information •  Addiction cessation tracker: Chrono Therapeutics •  Smart thermometer: Kinsa •  monitoring systems, which allow for ECG (electrocardiogram) testing to be done from home: Qardio and AliveCor •  Sleep monitoring: •  Focused specifically on sleep tracking: Hello and Beddit •  Infant monitoring: •  Wearable technology that tracks infant movements and vitals: Owlet and Sproutling •  Clinical-grade biometric sensors/wearables: focused on connected biometric sensors for use in a clinical or hospital setting, and patient care; have FDA approval •  Have FDAApproval: EarlySense and Monica Healthcare •  Pursuing FDAApproval: Quanttus and MC10 The sensor technologies in the above sectors (ECG, Pulse Oximetry, BCG, and etc.) are comparatively mature. Generally, company evaluation should be based on 1) marketing strategy & ability and business model, 2) algorithm and potential value in the data (use for research, form partnerships), 3) whether the founding team can lead a service company with technology orientation. Most of these Companies are more about service than tech.
  7. Service-based Mobile Apps: Healthcare On-Demand On-demand healthcare companies allow consumers to purchase a product or service through a web- based or mobile channel with either offline or virtual fulfillment. Offline fulfillment includes both product and service delivery, with companies such as Postmeds and Pager delivering medications and sending healthcare providers, respectively, directly to consumers’ homes and workplaces. Online fulfillment occurs when a consumer is virtually connected with a healthcare provider to diagnose a health condition. On-demand healthcare is comparable with on-demand companies in other industries (Uber and Oderup) On-demand healthcare company usually start to build their core competence around a niche market: •  SkyMD and DermCheck only do telehealth service on dermatology Source:Rock Health and CB Insight
  8. Industry Trends In The U.S. Digital Health funding has been growing exponentially, but on- demand healthcare funding is growing even faster Most companies founded prior to 2011 were not “digital” by origin. A majority of Teledoc’s “services are done on the phone. Source:Rock Health •  Physicians are becoming more interested in flexible work schedules and in practicing direct-pay or concierge medicine •  71% U.S. adult own smartphones; “Uber-fication” •  Low-cost technologies (low- energy Bluetooth, smart sensors) become available Funding For On-Demand Healthcare (amount of venture funding by year) •  In 2014, we saw a 300% the year-over-year funding growth rate, compared to 114% growth during the same period for funding across all of digital health. •  Traditionally, telehealth companies receive all the funding. Yet, we see a rise in house calls and delivery companies, including TinyRx, Zipdrug and PediaQ all raised money in late 2015.
  9. The Major Challenges of On-Demand Healthcare 1. Low ratio of customer life value to customer acquisition cost: •  The average transactions per user per year of Uber is 100, and the platform gross revenue for each transaction is $24.90 •  The average transactions per user per year of On-Demand Healthcare Companies in general is 4, and the common gross revenue for each transaction range from $40 to $200 •  Word of mouth marketing doesn’t apply to healthcare service; customers are less willing to openly share their healthcare experiences 2. High price sensitivity and high labor cost: according to Rock Health’s national survey, only 7% strongly willing to pay out-of-pocket Source:Rock Health A Different Business Adoption Cycle Compared to Other Tech On-Demand companies Early Adoption Major Adoption Late AdoptionTrial Use Novelty Convenienc e Reliability Cost n  Tech On-Demand Companies n  Healthcare On-Demand Companies 3. A different business adoption cycle: •  Most on-demand technology companies can rely on the novelty of their services to pique the interest of trial users and continue acquiring customers primarily by offering convenience. Further market uptake occurs when the service proves to be reliable and “affordable” •  The stakes are much higher in healthcare. alleviating consumer concerns around service quality and reliability requires greater consumer awareness and higher utilization rates
  10. Content •  Global mHealth Industry Overview •  Monitoring Devices (Sensors) •  Service-Based Mobile Apps •  The Emerging Markets: Africa, Latin America and South Asia •  Key Challenges •  New Solutions
  11. Source:Accenture and PwC (Economiest Intelligence) The Emerging Markets: Africa, Latin America and South Aisa Patient-centered services may include: •  IoT Healthcare & Smart Sensor: Use of remote devices to monitor a patient’s condition so that the patient does not need to leave home. This will be particularly impactful amongst aging populations. •  IoT Fitness / Wearable: Personal health applications and devices that promote nutrition and lifestyle improvements are emerging. These applications make use of mobile phones or are coupled with electronic devices which gamify and socialize physical activity within the community, promoting exercise. •  Service Based Mobile Apps: Improved two-way communication between service administrators and patients via scheduling tools and portals can increase the convenience of service delivery and allows maximum use of available health care capacity