the quantified self: as seen in dec 2012

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Marketplace analysis of healthcare technology and wearables from December 2012.

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  • 1. Quantified Self: As Seen in December 2012 Tyler R. Soliday Healthcare Technology
  • 2. Table of Contents I.Sales & Marketing - Justin Neece II.Current Market Landscape / Consumer Health III.Product IV.Technology V.Delivery/Client Services VI.The People Plan VII.Budget/Financials
  • 3. Current Market Landscape Current Health Tech Market Participants- Selling to practices for administrative efficiency and patient engagement. Consumer Mobile Health- New ways that consumers are using technology to track & analyze their health conditions
  • 4. Current State of Pricing RegisterPatient is currently priced at $69.99 per month, per provider. Name Price CareCloud Complete 499 DrChrono Apollo 399 CareCloud Central 349 ZocDoc 249 DrChrono Hippocrates 199 DrChrono Prometheus 99
  • 5. Marketplace Pricing Analysis Name Price CareCloud Complete 499 DrChrono Apollo 399 CareCloud Central (RP Direct Competitor) 349 ZocDoc 249 DrChrono Hippocrates 199 DrChrono Prometheus 99 625 500 375 250 125 0 RegisterPatient Competitor Pricing Price CareCloud Complete DrChrono Apollo CareCloud Central ZocDoc DrChrono Hippocrates DrChrono Prometheus RegisterPatient
  • 6. OnPatient by DrChrono iPad Patient Check-In Medical Speech to Text Paperless Medical Billing Custom Clinical Notes Take Photos & Videos eRx ePrescribing Phone, Text, & E-mail Reminders X-Rays, EKGs, & Lab Results Clinical Note Sharing Patient Registration Template Library Staff Messaging iPad Printing Manage Scanned Documents Scheduling Anywhere Features Similar To RegisterPatient: 1. eRx E-Prescribing 2. Phone, Text, E-mail Reminders 3. Patient Registration 4. Secure Messaging Network 5. Complete Patient Scheduling Focused on iPad Giving Away Free iPad Minis w/ One-Year Purchase Using Digital Marketing To Gain Provider Sign- Ups
  • 7. OnPatient by DrChrono Pricing
  • 8. Venture Partners: -$20.1 Million Series A Funding Round From Intel Capital and Norwest Venture Partners Common Mistake: CareCloud is not just an EMR. They have taken advantage of their EMR functionality to create a high-quality practice management feature. Recent Innovations: 1. Development of PHR 2. Recently released full version of their technology on a mobile platform.
  • 9. CareCloud Mobile A combination of CareClouds EMR apps designed for efficient practice management CareCloud is based out of South Florida, and has quickly been able to onboard many medical practices in this metropolitan area.
  • 10. Competitive Marketplace Analysis Company Pros Cons Differentiation How To Beat -Goldman Sachs Investment -Building a Check-In Feature -Building Their Own Patient Registration Took Only 7 months -1.8 Million Patients per month -Focused on high-end areas--launched in 31 metropolitan regions Claims to have no mobile registration in progress, $300 month to provider. Offering patient registration feature as a free service with their product. ZocDoc OnTime- Havent nailed registration. Only releasing registration to 10% of their marketplace, so it is obviously in testing. They have stated that they dont plan on going mobile, find this highly doubtful as mobile health progresses. Metropolitan Practices- Have already signed up a large number of higher-end medical practices in major metropolitan areas across the country. Digital Health Records (Azumio, FitBit, Nike+, Diet/Health Apps), Check In Feature, Emphasis on Mobile- (Mobile Registration, Native Tablet App for Practices), OnTime by RP, New Markets (Emphasizing RP as the source for sending data to the doctor--Schools, Camps, Concerts/Events, Volunteering), TeleHealth Integration, Providing the simplest eRx option for doctor, patient, and pharmacy. Sync new prescription w/ eRx and medication reminders on mobile -High Quality Videos, -Emphasis on U/X, -Various Helpful White Papers available to everyone, -Follow up on information collected through Contact Us forms with additional white papers -Using AdChoices as their interactive re-marketing. Lots of venture money, South Florida headquarters with a high doctor base. EMR-Style Practice Manager- A strength for large practices or medical groups. Focuses on financials- Allows them to charge more, as they save the medical practices money with their software. PPC Campaign with AdChoices & High Quality Interactive Ads, Possibly extending advertising to mobile, U/X Upgrade, HQ Videos of testimonials and product features, HQ white papers for free and easily available, HQ blog focused on practice management -iPad exclusive -Highly Mobile -Use Software System Throughout Treatment -DrChrono has evolved into our marketplace with the advancement of the original DrChrono, as well as OnPatient which now includes online patient registration. -Designing/developing new features rapidly that directly compete with our package. Charge $399 per month.
  • 11. Current market leader in patient scheduling, appointment making, and finding new doctors Consistently rated the #1 App in Healthcare $95 Million Total Funding $75 Million Series C Investment- DST Global and Goldman Sachs
  • 12. ZocDoc Brand Elements Extremely Prevalent- Through geographical roll-out and a huge marketing and sales initiative, ZocDoc has been able to reach a large market of 1.8 million patients per month. New York City- ZocDoc is one of the most notable start-ups to come out of the New York City tech scene, and as a result has become infamous in east-coast tech. iPhone-Centric- ZocDoc has focused on higher-end metropolitan areas and marketing exclusively to users considered to be of the higher-end and Easy & Valuable For Providers- By paying just $300 per month, providers are able to have their practices easily found through ZocDoc. Allows for practices to easily find new patients, have patients book their appointments through their mobile apps, and now offer patients the ability to register online. Constantly Developing- ZocDoc stated in the past that it would be focusing specifically on patient scheduling, but then developed their own version of online patient registration which they are currently Beta testing on 10% of their market.
  • 13. ZocDoc has recently unrolled ZocDoc Check-In to 10% of its market of users.
  • 14. Hospitalizations
  • 15. ZocDocs Innovative Business Practices ZocDoc has recently opened up a new office in Phoenix, in an effort to on-board the west coast with sales and marketing. When New York City was threatened by Hurricane Sandy, ZocDoc had to create a pop-up office in Chicago for customer service in case the HQ lost power or would be days without power.
  • 16. ZocDoc Mobile
  • 17. ZocDoc OnTime
  • 18. Consumer Mobile Health Whos the next rising star in Healthcare? New Market- Young people are the ones who are taking the initiative to use consumer health devices to track their health and get more involved with their current state of health.
  • 19. Global Mobile Health Market $11.8 Billion by 2018, according to Market research firm GlobalData. 70% of health apps are intended for use by consumers, while the remaining 30% are apps built for professional healthcare providers.
  • 20. Healthcare & The Quantified Self The Quantified Self is a movement to incorporate technology into data acquisition on aspects of a persons daily life in terms of inputs (e.g. food consumed, quality of surrounding air), states (e.g. mood, arousal, blood oxygen levels), and performance (mental and physical.)
  • 21. The Quantified Self Activity Monitors 1. BodyMedia FIT 2. FitBit Tracker 3. Nike+ Fuel Band 4. Pebble 5. Zephyr BioHarness Sleep Monitors 1. FitBit Tracker 2. Lark 3. WakeMate 4. Zeo 5. Gear4 Renew SleepClock 6. Sleep-Tracking Apps Biometric Measurement 1. FitBit Aria Scale 2. Withings Body Scale Additional Areas: 1. Blood Glucose Monitors 2. Food Intake Monitors
  • 22. Whos Leading The Marketplace In Healthcare Technology Innovation? No. No. No. The Rise of the Quantified Self
  • 23. Nike.
  • 24. Consumer Health Technology MyFitnessPal SleepCycle StressCheck PillBoxie Lark SleepTime by Azumio Nike+
  • 25. Nike+ Fuel Band
  • 26. Tracking Weight
  • 27. The Interactive Medical Form -Food Intake Data -Activity Data -Sleep Data -Exercise Tracking
  • 28. Technology App Development Infrastructure Security / Privacy & Compliance Technical Safeguards
  • 29. SWOT Analysis Strengths -Incredible software -First to have the product fully built and available -The ability to be the single technology that is used whenever someone has to register their medical forms. Weaknesses -Poor retail model -Unattractive web appearance -Low amount of providers using the software -Very small number of people who have entered their health information into RegisterPatient. -We are not properly marketing to all of the potential providers that use RegisterPatient, and this is keeping us from gaining users. Opportunities -Expanding the market beyond just the traditional medical practice. -Doctors offices are looking to become digital and high-tech -Health 2.0 is becoming a buzz word, and healthcare technology apps and start-ups are becoming the newest trends. Threats -Large software companies are able to provide the software to such a large scale of users so fast. -Currently thriving healthcare tech companies have the ability to expand into patient registration, or add it on to their service.
  • 30. Introduction To Mobile Health: Mobile Health Market To Be Worth $400M By 2016.
  • 31. Mobile Health Statistics 44 million mobile health apps will be downloaded in 2012, rising to 142 million in 2016. Currently 39% of smartphone users say they are comfortable with scanning their phone to make a purchase. Mobile payments through NFC expected to rise to $9.9 Billion by 2016. General NFC payments expected to hit $74 billion by 2015. Mobile web use is doubling year-on-year. (This doesnt include apps. Simply, mobile browsing.) It's a market that could be worth $11.5 billion to operators, $6.6 billion to OEMs, $2.6 billion app makers and $2.4 billion to healthcare providers by 2017. Europe would edge it terms of revenues at $6.9 billion, with Asia Pacific at $6.8 billion, North America at $6.5 billion, Latin America at $1.6 billion and Africa at $1.2 billion.
  • 32. Emerging Markets Data Examples of m-health products and services include: -Monitoring services, such as those for chronic disease management. There will account for 65 per cent of the market ($15 billion) by 2017. -Diagnosis services will comprise 15 per cent of the market ($3.4 billion). This includes mobile telemedicine and health call centres that allow those in isolated areas to connect with healthcare professionals. -Treatment services will be the third-largest revenue opportunity at 10 per cent of the overall market ($2.3 billion). Current examples include services that ensure patients adhere to treatment schedules, such as Vitality Glow Caps that remind users via SMS and through calls that they should take their medication.
  • 33. Incorporating with Diet & Exercise Tracking Apps Working with leading diet and exercise tracking apps to integrate information into RegisterPatient and provide more information to the doctor than can be gained from filling out a standard patient registration form.
  • 34. Popular Fitness & Diet Tracking Apps Apps on Facebook Timeline: -RunKeeper -MapMyFitness Popular in App Store: iFit Bloom by MindBloom
  • 35. Nike+ Nike+ is tracking all of the exercise data for its users. They currently have the Nike+ fuel band, sneaker lines, exercise machine syncing, Nike + running, and are coming out with tracking programs for both basketball and training during Summer 2012.
  • 36. Nike+ Running
  • 37. Nike+ Training Coming Summer 2012 -Built in sensors in the Nike+ training shoes monitor training routines and workouts. Providing the doctor with information about a patients training schedule could be beneficial in getting accurate activity levels information to the doctor, and allowing for an accurate review of the patients workout routines by a medical professional.
  • 38. Nike+ Basketball -Accurate sports activity monitoring could lead to better recovery and treatment plans of sports injuries.
  • 39. What Now? Nike+ Fuel Band API- Build this information into the RegisterPatient system Contact Nike+ about developing a partnership and bringing the Nike+ Fuel Band into the medical technology field.
  • 40. The Sports Tracking Device Market & Mobile Health: "Downloadable apps are moving the sports tracking device market from proprietary devices to mobile phones, but adoption has been limited by the data they can collect. "However, with the connectivity that Bluetooth Smart will embed in mobile handsets, wearable devices will bring greater detail to mobile handsets," said Jonathan Collins, principal analyst.
  • 41. Patient Monitoring Wristbands Market Leaders: Nike+ Fuel Band JawBone Up FitBit Objective: Work with "band" companies that monitor patient health 24/7 to provide doctor's more information. Description: Integrate all of the information that is saved on the users of (band). This will allow the doctor's to get more information about the patient than they might be able to get from the form like how often they are moving around, how deep their sleep is, etc.
  • 42. Jawbone Up -Valued at $1.5 billion by International Business Times -Just raised $40M even though they had to do a mass refund for their product. Bringing total company funding to $210 million.
  • 43. JawBone Up -Report patients sleep quality data to their doctor. -Tracking of caloric intake and accurate average food -By keeping track of exact patient movement details, the doctor can get an accurate description of the patients activity levels as opposed to what they claim. intake.
  • 44. Jawbone Up Refund Issue Jawbone did a mass-refund for Jawbone Up devices sold during 2011. Early users of the Jawbone Up complained that it couldnt be used in the shower, wasnt holding a charge, and was having difficulty syncing. Production was stopped on these Jawbone Up models, and came out with fixed new ones and raised $40M in growth funding following this incident. Could be looking for something to bring more credibility to their product, like the ability to sync the information gathered from your Jawbone product to your health record.
  • 45. Jawbone Up Contact Information Jawbone.com/Contact
  • 46. Nike+ Fuel Band The fuel band is worn around a patients wrist and monitors and stores all of their activity throughout the day. Syncing this information up with the patient profile would give the doctor a more accurate idea of the patients daily activity levels outside of his/her exercise program.
  • 47. Nike+ Fuel Band API -We would develop an application for the fuel band. http://mobihealthnews.com/16606/nike-beta-launches-fuelband- api-for-app-developers/
  • 48. Nike+ Fuel Band Contact Information Information about Nike Fuel Band API http://mashable.com/2012/03/11/nike-nikefuel-api-music-hackathon/ Business Development: Nike Inc.com
  • 49. FitBit FitBit Ultra FitBit Aria -Raised $12M upon the release of the Nike+ Fuel Band for the marketing of the FitBit Aria. -The Aria, which costs $129.99, will transmit both weight and body fat measurements wirelessly to your FitBit account. In terms of measuring body fat, the scale has four transparent electrodes which shoot a safe low current through body and measures resistance to current, determining how much body fat you have. -You simply open up the Fitbit iOS or Android app via your mobile phone when close to the scale and the Aria will transmit the data to your FitBit account. So you no longer need to manually input this data on the web (or mobile) and the platform can get a more accurate view of your fitness. Investors: Foundry Group, True Ventures, SoftTech VC
  • 50. FitBit
  • 51. FitBit Contact Information Business Development E-mail Address: http://help.fitbit.com/customer/portal/emails/new Eric Friedman- CTO & Co-Founder Hans Hartmann- COO James Park- CEO & Co-Founder Meena Srinivasan- VP, Finance & HR Tim Roberts- VP Interactive Woody Scal- Chief Revenue Officer Gareth Jones- General Manager EMEA
  • 52. Additional Market Participants:
  • 53. Basis Basis, which was previously known as PulseTracer, offers a wrist worn device called Basis Band that measures the wearers heart rate and other vital signs. Basis plans to allow third party developers to build apps that work with the device. The startup secured $9 million in funding this past March and its team includes a former Google Health alum and a new CEO, Jef Holove, who was formerly CEO of Eye-Fi. While Basis Band is available for pre-order from the companys website at $199, the company has yet to announce when the device will first ship.
  • 54. DirectLife DirectLifes Activity Monitor is a small device that tracks body motion every time the user moves up, down, forwards, backwards and sideways, and calculates how much energy was used to make them. The device can fit into the users pocket or can be worn around the neck or on a belt pouch, and is waterproof up to 3 meter below the waters surface. The Activity Monitor uses a web component to measure what youve done against your personal daily target. A series of indicator lights on the Activity Monitor show how youre progressing throughout each day, making it easy for you to keep on track towards your goals.
  • 55. BodyMedia BodyMedias FIT armband tracks users calorie burn, activity levels, sleep health in an attempt to lose weight. The device connects to phones via Bluetooth or sends data directly to the cloud thanks to a recent deal with Sprint.That health data can then be analyzed via a web component or through free iPhone or Android apps. A food log and you have the information you need to improve your weight loss. BodyMedia lists 24 Hour Fitness, Panasonic, Jenny Craig and others as partners.
  • 56. Affectiva Q Sensor Affectiva Q Sensor The Affectiva Q Sensor is a wearable, wireless biosensor that measures emotional arousal via skin conductance, a form of electrodermal activity that grows higher during states such as excitement, attention or anxiety and lower during states such as boredom or relaxation. The sensor also measures temperature and activity. According to the company: The curve-shaped Q Sensor is designed to wear on the wrist, so it is comfortable and unobtrusive to wear all day at work, play, or sleep. This makes it ideal for long-term measurement in clinical and therapeutic research.
  • 57. Adidas MiCoach Pacer The miCoach Pacer is a small, lightweight device that delivers real-time audible coaching as a user exercises via headphones or combined with their own MP3 player. The device is part of Adidass miCoach fitness platform. During a run, the miCoach Pacer verbally coaches the runner (i.e. speed up to green zone, slow down to blue zone, etc.) to ensure that they are staying within their targeted heart rate zone and keeps them running at the right personal level. Adidas also offers a wrist-word device: The miCoach Zone, which features a color-code LED display.
  • 58. Valencell Valencell is the creator of Healthset, a technology that gives audio headsets the ability to monitor the health and fitness of the user. Healthset sensor technology tracks real-time physiological metrics including heart rate, calories burned, steps taken, distance traveled, speed and more, while the consumer listens to music, talks over the phone, or goes about daily life activities. Data is streamed to smartphones and/or mp3-players through wired or wireless links, enabling live body metrics, training, and coaching via fitness applications on mobile devices and online. Best Buys venture arm recently invested in the startup, which hopes to ink deals with headphone makers to embed its technology.
  • 59. Other Market Participants LoseIt! RunKeeper Endomondo Microsoft Health Vault
  • 60. LoseIt Food Tracking Track Exercise
  • 61. Lose It Screenshots Business and Partnership For business and partnership inquiries, please contact us at [email protected].
  • 62. RunKeeper