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AliveCor Interview – Raises $30 Million

Posted on March 22, 2017 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

When I look across the mobile health ecosystem, one of the big winners is AliveCor. They’ve done an incredible job with their company and bringing their ECG readings to a much wider audience. The news recently came out that they’d raised their Series D round of investment of $30 million. As part of that announcement, my colleague Neil Versel from Meaningful Health IT News did an interview with the COO from AliveCor, Doug Biehn. You can check out the full interview below:

I hadn’t caught up with AliveCor for a while, so it was interesting to hear how much progress the company has made. Neil does a good job covering how AliveCor has been trying to figure out the balance between a consumer solution and a provider (FDA cleared) solution.

One of my favorite comments from the video above is when Neil asks about their new AlieCor platform and Doug Biehn says, “We’ve been launching new apps in the consumer space every 6 weeks for the past year, but this is our first big entree into the medical professional market.” I love this sort of iterative development in healthcare. While AliveCor does ECG, I think they’re just getting started. I’ll be interested to see what else comes out of this company as it continues to iterate and mature.

The Balance of Moving Fast and Not Breaking Things

Posted on July 13, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

The right path forward for the digital health industry begins with a significant shift in the Silicon Valley mindset: “Move fast and break things” just won’t work. Source

That’s a powerful quote from Vic Gundotra, CEO of AliveCor. He’s right that you have to be much more careful in healthcare. That’s not always true. You can experiment on certain parts of healthcare without damaging a patient or a physician. However, you do have to be careful because it can quickly move into a regulated portion of healthcare. It’s a challenging balance.

Plus, even if you’re working in a regulated portion of healthcare we need to have more people who move fast and break things. They just need to do it within the regulations. While this is a challenge, it’s still possible. Plus, it becomes a massive competitive advantage when you do finally comply with all the regulations and provide value to the end user.

Vic offers this added insight:

What has been seen as a burden needs to be seen as a benefit. It’s time that we stop viewing regulatory bodies as obstacles and start viewing them as valuable partners.

In healthcare, entire industries are created around regulation. Regulations can be an enormous opportunity for entrepreneurs. That’s certainly a shift in mindset for many of those in silicon valley. Maybe that’s why so many big health IT companies come from places other than the valley.

How Much of Healthcare Business is Healthcare?

Posted on January 27, 2014 I Written By

Kyle is CoFounder and CEO of Pristine, a VC backed company based in Austin, TX that builds software for Google Glass for healthcare, life sciences, and industrial environments. Pristine has over 30 healthcare customers. Kyle blogs regularly about business, entrepreneurship, technology, and healthcare at kylesamani.com.

Editor’s Note: We’re excited to welcome Kyle Samani, Founder of Pristine, as a regular blogger here on EMR and HIPAA. I first met Kyle when he was a high school student working at his father’s EHR company. It’s amazing how far we’ve both come since then. You can find all of Kyle’s EMR and HIPAA posts here.

In The Great Re-Bundling of Healthcare, I argued that healthcare will be rebundled along new dimensions because technology will break assumptions that predicated bundling in the analog era of healthcare delivery.

In that post, I noted that a few industries have been completely dismantled and rebundled by technology:

The print publishing industry – newspaper and magazines – thought that their unique value was in their core product – news, editorials, and classifieds. But the unique value they delivered was in printing and distribution. When the Internet reduced the cost of printing and distribution to effectively $0 and free news became the standard, their businesses collapsed. Print publishers are left servicing the paper news market, which is a fraction the size of the overall digital news market.

Taxi companies thought that their local, retail, administrative, and regulatory overhead was necessary to solve the get-from-point-a-to-point-b problem. Using the Internet, Uber, Lyft, and SideCar proved that none of those overhead functions matter, enabling a new era of get-from-point-a-to-point-b solutions. Taxi companies are left servicing the I-haven’t-heard-of-Uber and there-aren’t-enough-Uber-drivers markets, both of which are rapidly shrinking.

Hotels thought constructing buildings and staffing employees was the only way to solve the get-a-place-to-stay-for-the-night problem. Using the Internet, AirBnB proved that anyone can solve the get-a-place-to-sleep-for-the-night problem for anyone else. Hotels are left servicing the high-end, premium service market in the get-a-place-to-stay-for-the-night business.

These examples beg the question: when healthcare is completely rebundled around digital delivery, what businesses will healthcare providers really be in?

In the examples above, the Internet empowered laymen to circumvent legacy establishments. Using the Internet, laymen performed the same tasks more affordably than traditional retail businesses.

With Watson-like self-diagnostics; an army of cheap, connected, sensors; and a wealth of freely available information on the web, laymen will increasingly self-diagnose and self-medicate whenever and however possible. This process will start at the low end – the simple stuff such as common colds, simple bumps and bruises – and increasingly move up market.

Over time, tri-corders (such as Scanadu), smartphone EKGs (such as AliveCor), smartphone ultrasounds, CTs, MRIs, and blood tests will empower patients to gather all of the necessary diagnostic information without ever visiting a retail medical facility. Patients will send data to providers electronically and consult with providers via video conference. The web will obviate the need for most retail overhead, capital expenditure, and labor cost associated with most care delivery.

Medicine will be disrupted from the bottom up. Hospitals won’t completely go away, but they will be left servicing the high-end of the market – ICUs, surgery, labor and delivery, and other high-acuity conditions – just as hotels, print publications, and taxis service the most expensive segments of their respective markets. The vast majority of care will be delivered as virtually and cost effectively as possible.

By circumventing retail establishments, medicine will centralize as geography loses relevance. Just as the hotel and taxi industries consolidated around mega-platforms such as Uber and AirBnB, healthcare will consolidate around provider hubs that service enormous populations. The mega healthcare systems will have the tools to centrally manage populations and interact with them contextually. The major health systems of the analog era that were bounded by geography will battle to become national behemoths as geography becomes irrelevant. Mayo Clinic, Cleveland Clinic, and others are already doing this by establishing virtual clinics across the country.

Why did the publishing industry, taxi industry, hotel industry, and travel agency industries collapse? Why will all of the old practices of medicine collapse? Cost. The most costly aspects of delivering care are labor and retail overhead. As increasingly small, localized, connected computers gather an increasingly large amount of data, computers will help patients self-diagnose and self-medicate without the need for expensive retail or labor overhead. Computers will automate inherently repetitive processes.

So how do I answer the question I posed in the title of this post? I’ll do some high level math. About 15% of the cost of delivering care is associated with billing and administrative overhead. About 40-50% is provider labor. There’s another 5-10% is spent on other miscellaneous expenses. And the remainder of costs are in capital expenditures including retail overhead. I suspect that 50-60% of total healthcare costs could be cut when healthcare is fully digital.

Eric Topol and AliveCor on NBC’s Rock Center

Posted on January 25, 2013 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Last night, digital health finally went mainstream. The ever popular Eric Topol was featured on NBC’s Rock Center. It’s great that more people will learn about what’s happening in Digital Healthcare. I particularly like near the end of the video Dr. Topol talks about the need for patients to be more involved in their health. Plus, it was fun to see the AliveCor device in action on network television. I’ve embedded the full video of Eric Topol on Rock Center below.

AliveCor Developing a Mobile ECG Using the iPhone

Posted on November 7, 2011 I Written By

While I personally am not totally convinced of the value of being able to take an ECG of yourself, I have to admit that it is pretty cool technology.  AliveCor has not yet released the device to the public, but according to their website they will be exhibiting at MEDICA 2011 in Dusseldorf Germany from Nov 16-19.

The following two videos give a much better description of the device then I ever could so I will let them describe it.

 

 

 

Like many of the devices similar to this I really feel like they are of the most value in underdeveloped countries.  These places will not have ECG’s all over the place like we do here in America.  Making it possible for more experienced doctors to monitor patients with tools like an ECG will greatly improve the quality of care that they receive.