Join us March 9th at 12pm at the corner of 6th street and Brazos, for a healthy lunch powered by FTR4H. It will be followed by the exciting program curated by Startup Colors’ team, with inspiring talks, expert and fireside chats and networking sessions covering the following topics:
The role of nurses in leading innovation
The human digitome: the 1st digital representation of human health
The power of voice-based AI in healthcare
How new hard- and software solutions can make you move and heal
How Blockchain technology can increase the impact in healthcare and
Patient empowerment or how we can own our own data
20 inspiring speakers will take the stage to share their work and view on the future of healthcare. Amongst them:
Visit the website to check all the speakers and the complete program and to reserve your free ticket. Discover with us all colors and shades of innovation in Healthcare during this special day at SXSW 2019 and how we can make a change together!
Among 15 startups pitching at this years MEDICA App Competition, the top three chosen solutions are Kaia, air and iSikCure.
Kaia is a mobile app addressing back pain by using AI to guide patients through therapy and selected exercises which are moderated through camera observation of the users posture.
air is a smartphone app with a connected spirometer guiding users through spirometry measurements. It is meant to be used either by asthma patients or by physicians during patient examinations.
The winning solution on the competition was iSikCure app, connecting patients to healthcare providers and using a special reward points system creating a new way to pay for health services and encouraging medication adherence.
See all 15 startups pitching at the competition here.
325,000 mHealth apps already on the market
In the pre-competition program different topic on mHealth development were discussed. Ralf-Gordon Jahns presented the latest Research2Guidance research findings on mHealth market. At the moment, the estimated number of mHealth apps is 325,000, with health insurers becoming an increasingly important distribution channel for scaling. mHealth apps still face the problem of monetisation and 55% of apps have less than 5,000 downloads, was mentioned. Full report is freely available here.
What’s the deal with mHealth apps?
In the panel on the state of mHealth apps, with panelists
Muthu Singaram, CEO IIT Madras HTIC Incubator & Founder of VibaZone,
Klaus Stöckemann, Managing Partner at Peppermint Venture Partners,
Tjaša Zajc, Host of Medicine Today on Digital Health Podcast and Strategic Healthcare Partnerships Manager at IRYO.IO,
Lars Buch, Managing Director of StartupBootcamp Digital Health Berlin,
Jesus del Valle, Head of Bayers Grants4Apps Accelerator and moderator
Maren Leche, Startup-Expert, Mentor and eHealth-Advisor,
different reasons for low mHealth apps adoption and user retention were mentioned. An important critical point of apps is that they remind users of their sickness, which can be discouraging for continued use. This is one of the recognised reasons for a lot of B2C apps failing in the last years. A lot of them shifted to B2B2C business models.
Since payments in healthcare are shifting in the direction of outcomes and value based payments, apps are becoming increasingly interesting for Pharma companies offering their patients additional support and value through platforms and apps.
In terms of trends, voice recognition solutions are attracting interest, alongside expectations that app usage will increase with an improved experience provided by solutions coming from big corporations such as Google, Amazon and Apple, which have detailed knowledge about what works in customer engagement which could potentially be translated in to healthcare.
The first event in 2018 will be a conference program a SXSW festival, one of the top global tech events, attracting leading tech companies from the US and abroad. We are proud to be a part of it as it presents a valuable opportunity to meet tech savy entrepreneurs from different industries, allowing a step out of the digital health bubble and enabling formation of new ideas for the healthcare space. More information will be published soon. If you’re interested in participating as a company, do not hesitate to contact us!
Medical Fair China saw the successful launch of the FTR4H platform at the 2nd China Medical Innovation Forum in Suzhou from June 10 to 11 2017.
The FTR4H Talk & Lounge was a combination of an inviting meeting spot – where Startups, Corporates, VCs and other Digital Health aficionados mingled and discussed the Future for Health in a market like China – with a half-day session in the conference forum on the latest developments in Health-Tech.
FTR4H Talk & Lounge
The partners of the FTR4H Talk & Lounge covered the whole spectrum of the Digital Health Continuum. We had hospitals, researchers, startups and corporates sharing their latest products, services and ideas around how Mobile, IOT, AI and Data are transforming the healthcare sector.
Special focus was put on elderly care with the support of digital solutions, which is a worldwide, not only Chinese challenge. Dr. Junhua Hu, CEO of DARMA INC, a Shenzhen based Digital Health Startup grown up in the famous HAX accelerator ecosystem, rocked the stage with valuable insights and a comparison of the US and Chinese markets.
Sebastien Gaudin from the Shanghai based startup The CareVoice, explained, how close HealthTech and InsureTech are, with demoing the partnership with AXA on the field of a trusted and reliable platform to improve patient experience.
The highlight of our FTR4H inaguration in China was a Fire Side Chat moderated by Mr. Mobile and FTR4H Chief Evangelist, Mark Wächter. All participants agreed, that the Golden Age for Digital Health in China is just beginning.
FTR4H society will be back for sure at Medical Fair China in Suzhou in September 2018!
In the meantime, we will establish a network of digital health movers & shakers in China. We are proud that we won Junhua as our first FTR4H Ambassador in and for this unique market. He will start to extend the FTR4H society now – watch out 🙂
Wearables and measurements. Which Point of Care devices are just gadgets and which ones bring actual better outcomes for patients? Here’s what’s wrong with wearables.
1. Questionable data gathering
When used for prevention, it has become clear by now, that a person gets tired of using a wearable or a health app in only a few months. It is important to note that this holds true mostly for relatively healthy people, not patients with serious illnesses.
2. We are measuring what we can, not what we should
British researcher Prof. Dr. Anthony Turner, Head of The Biosensors and Bioelectronics Centre at Linköping University Sweden: “we haven’t yet made the sensors we really need, we are using the sensors that we happen to have.” That is why in recent years investors have been more interested in other sensors: ingestibles, implantables, etc..
We are entering an era of sensors for complex chemical reactions and molecular recognition in the body. “This requires more regulation and caution in testing and development,” says Prof. Dr. Turner. However, we can expect more significant improvements and outcomes.
3. Questionable measurements
Apart from data being questionable due to inconsistent data gathering by the user, another issue is data reliability. If you wear your phone with a tracker and two tracking wearables for activity measurements, you are bound to get different results. Similar is true for home Point of Care devices. Are they then useful or harmful?
If you will ask laboratory technicians, they will tell you that Point of Care devices are far from laboratory accurate. But in which cases is that relevant? As Prof. Dr. Turner says, “from a laboratory perspective and for research purposes you always look for the best. However, Point of Care devices for patients just need to be good enough for managing conditions and early warnings. Personal devices for diabetes are not as accurate as clinical laboratory, but it doesn’t matter – they are good enough for management decision.”
You can listen the whole conversation with prof. dr. Anthony Turner here.
So what can we conclude out of all this? Wearables are simply a step in the evolution of health technology. Sensors are still promising us all a bright future. They bring:
More and more of them are embedded in the environment. Measuring is becoming seamless, taking away the issue of consistency with gathering data.
Biosensors have had a very long and successful history of miniaturization. “It took 20 years for that to happen for wearable blood glucose monitors, while glucose meters evolved from a huge instrument of 40,000 dollars to a device which today costs 7-17 dollars,” illustrates Prof. Dr Turner. For inventors, the biggest issue is, what kind of business model will work. But the final judgement from a financial perspective is clear: massive savings could be achieved.
There are currently more than 260,000 mHealth apps on the market, according to data from Research2guidance. Whereas this may be exciting news, the sheer number may also be overwhelming for patients and doctors. How can you know what is useful and what is not? One way hospitals are solving the app reliability challenge is by building in-house innovation incubators.
He are 5 reasons why in-house innovation incubators are good news.
1. Accelerating change
Innovation arms in hospitals are exciting because they help introduce novelties into the rigid healthcare systems.
2. Providing reliability
New solutions are designed by high profile specialists in hospitals. Consequently, solutions are tested inside the hospitals and perfected before they are put on the market.
“I would never give or prescribe medicine to any of my patients that has not been approved in some formal capacity. Why should I prescribe an app?” says gastroenterologist Ashish Atreja, MD, MPH. If you’re a startup, he might take a look at your solution. Why?
One of his jobs as the CTO of Sinai AppLab is onboarding new technologies built by startups outside Mount Sinai. After all, he emphasizes, “it’s impossible for one incubator to do and know everything.”
3. Ease of recommendation
It is easier for doctors to recommend in-house solutions, because they have better access and understanding of the innovation process and reliability of an app compared to the flood of other mhealth digital health offerings on the market.
As Ashish Atreja explains, Mount Sinai even build a platform which allows physicians to prescribe evidence based apps. “We curate the best apps based on the evidence, security and safety. There’s a whole team of people rating the best apps, looking at the published evidence and bringing them to the market place.”
4. Financial benefit
Innovation arms generate new revenue streams for hospitals.
5. Encouraging innovation
When a support environment for creativity is in place, doctors who want to innovate can test and develop their ideas. They also get all the entrepreneurial support in scaling and improving their ideas, so they can reach patients faster.
In 2012, Cleveland Clinic experts designed the Medical Innovation Playbook – a detailed report on the diverse and rapidly evolving technology commercialisation programs of the USA’s top medical centres. It includes an overview of nearly 10,000 invention disclosures, 6,400 patent applications and almost 2,000 issued patents.
A few weeks ago, the sixth edition of the largest global study on mHealth app has been published by research2guidance, one of the community partners of FTR4H. Its Managing Director, Ralf-Gordon Jahns, is also member of the jury of #5MAC16. In this years report, more than 2,600 mHealth app developers, healthcare professionals shared their experiences and views on the market. Here their most important findings:
The mHealth app market is getting crowded: Almost 100,000 mHealth apps have been added since the beginning of last year, amounting to 259,000 mHealth apps currently available on major app stores (including multi-platform apps and smaller platforms). In addition, 13,000 mHealth publishers entered the market since the beginning of 2015, totaling 58,000.
“Growth rates of mHealth app store downloads are estimated to be only +7% in 2016 after +35% from the previous year, reaching a total of 3.2B in 2016.”
Multi-platform publishing is the norm: Or more precisely, publishing on iOS and Android has become normal. 75% of today’s mHealth publishers develop for both platforms. Other platforms still don’t play a major role.
mHealth publishers are becoming connected: Unlike the previous years, publishers now use APIs to connect their apps to third party apps, sensors or data aggregators. Apple HealthKit is by far the most commonly used API. 58% of publisher now use APIs, compared to 42% from the previous year.
mHealth app publishers are becoming more experienced with developing: Developing an app involves using tools to develop, test, market and monitor performance. 72% of mHealth app publishers have used, for example, analytics, testing, storage or cross platform tools.
mHealth companies are getting smaller again and are losing their altruistic motive: Last year saw a wave of new market players, which are the “Garage” type of start-ups with 1–2 founders. The share of this category increased from 8% to 13% in the last year. Perhaps with this wave of new entrants, the altruistic ambition of “we do this to help others” is still prominent and unique to the mHealth market, but it gave way to “we do this to make money” as number one motivation.
It is still not a money printing business for all but a few exceptions: 78% of mHealth app publishers report to have made less than US$100,000 from their entire mHealth app portfolio business. 60% make less than US$1,000 per month / US$10,000 per year. Traditional app store revenue sources like IAP1, paid app download or IAA2 are the main income source for only 4- 10% of today’s mHealth app publishers. Rather, they license technology (15%), and even offer third party development services (14%).
“US$10 seems to be the threshold for which a patient is willing to pay out-of-pocket for mHealth app services: There is a strong market belief that patients/app users would spent no more than US$10 (or US$9.90) on, for example, a monthly subscription for a health chat, a one-time download of a diet plan or one-time expert feedback. Thresholds vary between service categories but US$10 is the most common.”
Health insurance companies (HIC) are expected to become a key player in the market but are currently failing to step into their expected role: The majority (85%) of companies in the market assume that patients would be willing to share their health data with HICs in return for a cheaper plan, health recommendations or research purposes. Only 17% of mHealth practitioners rate the app portfolio of health insurance companies to be above average in quality.
The mHealth app market is a growth market: The revenues coming from mHealth app related services will grow by 15% (CAGR) to reach US$31B in 2020. 551M users will by then actively (at least once a month) make use of an mHealth app.
Integration of mHealth apps into the healthcare system will slowly evolve over the next five years: mHealth practioners foresee that app stores will be the main distribution channel for mHealth apps in the next years. The importance of other channels as an indication for the degree to which doctors, hospital and pharmacies are expected to integrate into the system, has declined again since the last study. It will remain a consumer and patient driven market for the foreseeable future. Business potential will continue to grow.
“Within the patient journey, follow-up monitoring will be the most influenced phase by mHealth apps: In general, the impact apps will have on the patient journey from seeking information, receiving diagnosis and treatment as well as prevention is rated high. The highest impact is seen on providing follow-up advice and coaching after the initial doctor’s visit.”
Reducing hospital readmission rates and non-adherence to treatment costs remained as the most important cost levers for mHealth apps to pull on over the next five years: Similar to last year’s study results, more than 60% of market players believe that the greatest cost saving benefit to come from mHealth apps will be noted in reducing hospital costs. This will be due to decreasing hospital readmission rates and length of stay, as well as assisting with patient compliance to medication plans. The perceived future impact that mHealth apps will have on reducing medical trial costs have dropped by -4pp.