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A Hacker’s Guide to Health Care
Big Data & its Business Applications
-or-
How to Monetize Data
H@cking Medicine A Production of the MIT Entrepreneurship Center
Joshua Rosenthal, PhD 10.22-23.11
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1) Start with the Money
Note: Payer (money) buying intervention (provider)
Most ‘Successes’, Aren’t
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Engineers' Guide to Multiples
1x Rev 4x Rev 8x Rev
- Ja Ja Binks + Good fights
- Teddy Bears
+ Existential crises of free agency vs. determinism wrapped in a fairy tale
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2) ‘Learn’ from the ‘Experts’
“Health Care will move to performance-driven consumerism, following financial services & e-com”
Problem: He’s been
saying this for 20 years
Sounds good, makes sense
(Nice hair, good “Blue Steel”)
Hack: Find out why it hasn’t happened
– then make a biz from it
Specifically, learn why they are wrong
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3) Know the Bodies
Health Care, Where Good Ideas Go to Die
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Perverse Incentive - A
Supply-driven markets:
Note: Google “unwarranted variation” + “health care”;
cf. Dartmouth Atlas for Unwarranted Variation
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Perverse Incentive - B
Payers have Money and Aggregate – but have not historically been “health care”
“Actually, I make more money off of bad drivers.”
(Read w/ accent)
Note: Medicare $ > Employer $
Employer populations = tougher outcomes (3-year turn) Cf. Medicare reimbursement rates
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Illusion
Track how fat you are! Only $1.99!
DTC: It Doesn’t Work
Note: People don’t like to pay out of pocket
for something they don’t like to do or don’t want to know about
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4) Do Good…
... but you are probably not profitable
If P < EHC x DWS, then 501c3
P: Profit; EHC: Employee Head Count; DWS: Dog Walker’s Salary; 501c3: Non-profit
It’s easy to do good...
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4) … and Make Money
... but you are probably doing bad things
“I’ll bill you.”
It’s easy to make money...
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It’s tough to make money
& do good
in Health Care
But here’s a hack...
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5) Start
... with the money: _______ ... where they make profit: _______ ... with a real biz problem: _______ ... with the (publicly available) data: _______ - Then ask: Does this hose people? A: quality > than quantity (supply driven)? B: customer/patient satisfaction?
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Data & Biz Problems
Package in work group
(Psst... Know a good accelerometer app developer? – Please ping me.)
1) List of Data Sources & Context 2) Connections between Data and Biz Needs: A Mad Libs Approach
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Hacker’s Guide
How to Monetize Data
-Summary-
1) Start with the Money 2) ‘Learn’ from the ‘Experts’ 3) Know the Bodies 4) Do Good and Make Money 5) Start