India Healthcare Summit + Hackathon VIT-MIT-MGH zenchu031513
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Presentations from the first VIT-MIT-MGH Healthcare Hackathon. Healthcare and Medical Design Thinking to help scale medicine and spur innovations that can impact healthcare in India, China & emerging healthcare systems.
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India Healthcare Summit + Hackathon VIT-MIT-MGH zenchu031513
- 1. WHY HACKING MEDICINE? WHY NOW? WHY INDIA? ZEN CHU MIT HEALTHCARE VENTURES INNOVATOR CONCLAVE FOR MED TECH VELLORE INSTITUTE OF TECHNOLOGY CHRISTIAN MEDICAL COLLEGE MASSACHUSETTS GENERAL HOSPITAL MARCH 15, 2013 © ZEN CHU 2010
- 2. WHY NOW? • HEALTHCARE CRISIS • ALTRUISM INSUFFICIENT • GLOBAL CLINICAL INNOVATION • MACRO TECHNOLOGY TRENDS • SUSTAINABLE VENTURES • ENTREPRENEURS CRITICAL © ZEN CHU 2010
- 3. WHY INDIA? • UNIQUE NEEDS • DEMOGRAPHICS • NEW CLINICAL INNOVATION • RACIAL/REGIONAL DIFFERENCES • EMERGING MIDDLE CLASS © ZEN CHU 2010
- 4. H@CKING MEDICINE • CLEVER SOLUTIONS • IDEAS ARE CHEAP • PROVE OR FAIL FAST • LEAN STARTUPS + DESIGN THINKING • ACCELERATE DATA + PROOF • ENTREPRENEURSHIP + MISSION © ZEN CHU 2010
- 5. WHAT DOES A MEDICAL HACKATHON LOOK LIKE?
- 6. The birth of one of the first HackingMedicine venture-backed companies… Amazing things happen in 36 hours!
- 7. H@ckMed Sessions on Top Floor of the MIT Media Lab
- 8. Craig Lipset, Director of Clinical Innovation, Pfizer Faster, Better, Cheaper Data Generation = Central to Pharma Productivity
- 9. Joe Smith, Chief Med Officer of West Health Institute & MIT/HST Alum Demonstrating disconnect between health spending and quality outcomes
- 10. The Pitch as central vehicle to test & hone mission, solution, business model
- 11. TEAM + SHARED MISSION
- 12. ONLY REQUIREMENTS: PAPER + COFFEE + DIVERSE TEAM
- 13. VISUALIZE & PROTOTYPE ON PAPER
- 15. GINGER.IO + VINOD KHOSLA FRESH EYES ON PROBLEMS FROM OUTSIDE HEALTHCARE
- 16. MENTORS VS. EXPERTS “The problem with experts is that they do not know what they do not know… The problem is that we like to have maps–and seem to prefer to have the wrong map of reality to no map at all. ~ Nassim Nicholas Taleb The Black Swan SURROUND TEAMS WITH MENTORS PULL EXPERTS IN LATER, BUT START WITH NEEDS © ZEN CHU 2010
- 17. HEALTHCARE METRICS BETTER FASTER CHEAPER CHEAP IS NOT ENOUGH! © ZEN CHU 2010
- 18. HEALTHCARE METRICS CONVENIENCE CAPACITY TRUST BETTER FASTER CHEAPER TRUST + WORKFLOW ESSENTIAL © ZEN CHU 2010
- 19. HEALTHCARE FRAMEWORK MONITORING R EFFECTIVE TREATMENTS GE O IA F TR CH DIAGNOSTICS & TE G & IN S PREVENTION UT EM RO ST SY EDUCATION TECH ENABLES SCALABLE MEDICINE © ZEN CHU 2010
- 20. WHICH RISKS TO PRIORITIZE? TYPICAL ORDER OF UNIVERSITY SPIN-OUT 4 Market Risk Payment Physician & Patient Adoption Packaged Whole Solutions Value 3 Regulatory Risk Safety & Efficacy 2 Management Risk 1 Technology IP Risk © ZEN CHU 2010 Time
- 21. WHICH RISKS TO PRIORITIZE? BEST ENTREPRENEURS + INVESTORS PRIORITIZE IN REVERSE CHOOSE BASED ON COST/PERFORMANCE REQUIREMENTS Technology IP Risk Management Risk Value Regulatory Risk Safety & Efficacy Market Risk Payment Physician & Patient Adoption ATTACK FIRST! Packaged Whole Solutions © ZEN CHU 2010 Time
- 23. HACKATHON PROCESS • START WITH PROBLEMS + JOBS TO DO • EMPATHY FOR USER • DIVERSE TEAMS AROUND THEMES • LOTS OF WILD IDEAS • DEFER JUDGEMENT • BUILD ON IDEAS COLLABORATIVELY • RAPID CLINICAL FEEDBACK © ZEN CHU 2010
- 24. OPEN INNOVATION • OPEN YOURSELVES TO CRAZY IDEAS • OPEN UNIVERSITY TO INDUSTRY NEEDS • SEEK DIVERSE TEAMS • SEEK CRITICAL FEEDBACK EARLY • DEFER PATENTING UNTIL LATER INSIGHTS © ZEN CHU 2010
- 25. JUST THE BEGINNING 1st WEEKEND ACCELERATES PROCESS • CHOOSE THE MISSION • MAXIMIZE COLLISIONS • MAXIMIZE FEEDBACK • IDENTIFY CRITICAL EXPERIMENTS H@CK PROTO DATA IP VENTURE © ZEN CHU 2010
- 26. THANK YOU VIT + MGH! IMAGINATION IS MORE IMPORTANT THAN KNOWLEDGE ALBERT EINSTEIN HackingMedicine.MIT.edu Twitter: #HackingMedicine @hackmedMIT AboutMe.com/ZenVen
- 27. H@CK VIT - DAY 2 9 ORDER OF THE DAY NEW CLINICIANS 10 JUDGING CRITERIA 11 BIG PIVOT PITCHES MAD LIB PITCH 12 LUNCH 2 FIRST ROUND JUDGING - BREAKOUT ROOMS BY THEME 3 SEMI FINAL JUDGING - MAIN ROOM 412 GALLERY 4:30 JUDGES ANNOUNCE WINNERS
- 28. VALUE OF THE PITCH • 56 PITCHES YESTERDAY! • LIMIT TO 3 MINUTES + 2 MIN Q&A • MISSION: WHY SHOULD ANYONE CARE? • RAPID FEEDBACK • FORCE CHANGE IN PROBLEM, SOLUTION, TEAM MIX • ROLE-PLAY AS ENTREPRENEURS • COMMUNICATE SOLUTION CONCISELY + ELOQUENTLY • PROVE OR DIS-PROVE VALUE + APPROACH © ZEN CHU 2010
- 29. PIVOT ON YOUR IDEA • IDEAS GET CEMENTED IN OUR MINDS • ESPECIALLY AROUND TECHNOLOGY ORIGIN • SEEK JOBS THAT CANNOT BE DONE TODAY • START WITH DESCRIBING THE USER EXPERIENCE • NEW SERVICE, NEW LOCATION, FASTER, CONVENIENCE... • GET RAPID FEEDBACK FROM INTENDED USERS WHO LEARNED + PIVOTED? © ZEN CHU 2010
- 30. SCALING MEDICINE • CREATE NEW EXPERIENCE • INCREASE CAPACITY • NEW SERVICE / PROVIDER with CAPACITY • CREATE NEW PLACE FOR SERVICE • DE-SKILL COMPLEX DIAGNOSTIC / TREATMENT • PATIENT SELF-SERVICE © ZEN CHU 2010
- 31. WHAT IS NEW SERVICE ENABLED BY YOUR TECH? DESCRIBE THE EXPERIENCE, EXPERIENCE, EXPERIENCE! © ZEN CHU 2010
- 32. WHERE DOES SERVICE TAKE PLACE? TRAIN STATION PHARMACY PATIENT HOUSE CLINIC SCHOOL HOSPITAL VILLAGE SPEC IALIZ CE ATIO V E NIEN N / IN CON F REQU CITY ENCY MUMBAI BOSTON © ZEN CHU 2010
- 33. FUNDING IS A CRUTCH • CONSTRAINTS FORCE CREATIVITY • SEEK JOBS THAT CANNOT BE DONE TODAY • START WITH DESCRIBING THE USER EXPERIENCE • NEW SERVICE, NEW LOCATION, FASTER, CONVENIENCE... • GET RAPID FEEDBACK FROM INTENDED USERS EXPERIMENT CHEAPLY + QUICKLY © ZEN CHU 2010
- 34. JUDGING CRITERIA 5+ CASH AWARDS FOR HACKING VALUES • PROBLEM STATEMENT CLEAR + BRIEF • DETAILED USER EXPERIENCE DESCRIPTION • PITCH + SHOWMANSHIP • WOW FACTOR = UNIQUE SOLUTION • MOST CLINICAL FEEDBACK • GENERATED NEW DATA OVER WEEKEND • PROTOTYPE EXPERIENCE (PAPER, DRAWINGS, ETC.) • TEAM DIVERSITY • GET OUT OF THE BUILDING TO TEST • SUSTAINABLE ECONOMICS • WEIGHT: 1/3 PUBLIC HEALTH 1/3 TECH 1/3 BIZ MODEL © ZEN CHU 2010
- 35. MAD LIB PITCH TEMPLATE • I AM A _____________________ • MY GOAL IS TO IMPROVE • QUALITY OF _________ (CLINICAL METRIC, EXPERIENCE, PAIN…) • ACCESS TO _________ (SERVICE, SKILL, • FREQUENCY/RATE OF _________________ (TEST, BEHAVIOR, DX, SURG) • EFFICIENCY OF _________________ (TEST, DX, EXPERIENCE, SURG…) • PROFITS OF _____________________ (PHARMACY, DOC, HOSP, FIELD…) • FIRST TARGET CUSTOMER IS _________ (DESCRIBE SUB-POPULATION) • THEY SUFFER FROM _________ (DISEASE, EXPERIENCE, PAIN…) • WE CAN IMPROVE THEIR EXPERIENCE/HEALTH BY _________ • TODAY THEY SOLVE THIS BY _________ BUT THE PROBLEM IS _________ • OUR SOLUTION IS TO ATTACK _________ • STARTING WITH _________ (FOCUSED POPULATION) • THEY WILL BE EARLY ADOPTERS BECAUSE (HIGHER SUFFERING, PAIN, COST, RISK, FEAR…) • WE WILL REACH THEM THROUGH _________ (CHANNEL, SPECIALTY, RETAIL, PHARMACIES…) • BUT WE CAN ALSO ATTACK LARGER MARKET OF _________ (NEXT USER TYPE) • OUR PRODUCT/SERVICE WILL BE PAID FOR BY _________ BECAUSE THEY VALUE _________ (UNIQUE QUALITY, © ZEN CHU 2010
- 36. THANK YOU VIT + MGH! SEE ONE - DO ONE - TEACH ONE APPLY HACKING PRINCIPLES TO WHAT YOU OBSERVE TO REMAKE THE FUTURE HackingMedicine.MIT.edu Twitter: #HackingMedicine @hackmedMIT AboutMe.com/ZenVen
- 37. BACKUP 37
- 38. CLINICAL INNOVATION CRITICAL SUCCESS • DESIRE TO HELP PATIENTS • RIGOROUS ANALYSIS + DATA • FOCUSED PLAN TO EARLY PROOF • CREATIVE TEAM • ADAPT TO NEW DATA • EVIDENCE-BASED • SUSTAINABLE MODEL FOR PRODUCT/ SERVICE © ZEN CHU 2010
- 39. INNOVATION RULES • MINIMIZE TIME TO DEMONSTRATION • BUILD SMALLEST POSSIBLE TEAM • DEVELOP ONLY THE BARE MINIMUM • PROVE ONE IDEA / VARIABLE AT A TIME • ITERATE FREQUENTLY BEFORE MANUFACTURING CONTROLS REQUIRED • NEVER DEVELOP WHAT CAN BE BOUGHT • INSIST ON HIGHEST QUALITY WORKMANSHIP FOR FINAL PRODUCT EMPHASIS ON SPEED & PROOF © ZEN CHU 2010
- 40. BUILD TEAM TO EXECUTE s e Market Risk e r Physician & Patient Adoption Reimbursement e v R n Packaged Solutions in Regulatory Risk t io Value n c u la Safety & Efficacy x e ) P E 1 Management Risk m e a Technology Risk ) T 2 Time © ZEN CHU 2010
- 41. TIME IS LIFE ACCELERANT DECCELERANT REGULATORY Device 510(k) New materials & claims Euro CE Literature Claims Unclear endpoints Predictive animal models CLINICAL Existing human data Non-superiority Reproducible published studies Entrenched behavior Acute episodic symptoms Chronic disease endpoints REIMBURSEMENT Existing Codes DRGs Cost-Benefit Studies Existing insurer coverage policies New codes required Private-pay, consumer MARKET Reduce skills needed Capital equipment purchase Physician buying power No physician benefit Unambiguous diagnostic SALES Focused physician popul. Learning curves Existing distribution Entrenched behavior © ZEN CHU 2010
- 42. INCREMENTAL vs BREAKTHROUGH Plenty of Incremental Value, BUT Different Strategy METRIC INCREMENTAL BREAKTHROUGH Funding $$ $$$$$$ Market Size Varies depending on funding >$100MM needed No current therapies Time Needed Shorter Longer Adoption & Exit Match opportunity to strategy Regulatory path dependent Value @ Exit Less More Major Risks Window of opportunity Technical/Clinical unknowns Execution quality & critical path Market adoption hurdles Competition Reimbursement Success Factors Focused execution Patents, Franchise Value Management experience Market adoption, Std of Care Manufacturing economics Investor expectations Patent Protection Less More Competition More Less © ZEN CHU 2010