virtual medicine and the role of entrepreneurs
TRANSCRIPT
Virtual MedicineAnd the Role of Entrepreneurs
Presented to
The Entrepreneurs Breakfast Forum April 21, 2016
What is an Entrepreneur?
Today’s AgendaWhat is Virtual Medicine and why should an entrepreneur care?Who are the players and where are the success stories?Where are the opportunities for budding entrepreneurs?
Image source: www.tomorrowsindia.com
What is Virtual Medicine?aka Telemedicine, Telehealth, mHealth, Connected Care
Virtual Medicine is the use of telecommunications and information technologies to provide clinical healthcare at a distance.
What is the Equation for Success?
Market Need + Clinical Expertise + Technology Platform + Startup Support + Timing = Opportunity for Virtual Medicine Entrepreneur
Image source: www.alexstechthoughts.com
Perfect Timing For Virtual Medicine…
Rising Cost of Careand lack of specialty physiciansin selected geographies
Affordable Care Actcreated 10 million additionalinsured individuals
Reimbursement 29 states mandate insurancecoverage for telemedicine
Technology Advancesubiquitous mobile technology, cloud computing, bandwidth
Image source: www.vigyaniz.com
…and the Market is Projected to Grow Significantly
Worldwide revenue for virtual medicine is expected to swell to $4.5 billion in 2018, up from $440.6 million in 2013.
The number of patients using virtual medicine services will rise to 7 million in 2018, up from less than 350,000 in 2013.
While Big Name Companies Have Become Involved...
Each has raised over $50 Million in Venture Capital
…Virtual Medicine is Still a Great Opportunity for Entrepreneurs
Entrepreneurial Virtual Medicine Companies
Teleradiology
Other
Platform Companies
Provider Companies
Telepsychology
Each Industry Segment has its own cycle….
PlatformCompanies
Telepsychology
Provider Companies
Teleradiology
…Individual Companies set their own pace
Disclosure: HEALTHePRACTICES has a commercial relationship with these companies.
Dayhawk, not Nighthawk
Largest provider of RadiologyServices to Urgent Care centers
Entirely virtual company
Reading 3000 exams per day
Lessons learned from teleradiologyappropriate across the industry
Patient / Peer Video Consultations• Simple, reliable HD video consulting• HIPAA compliant, multi party, one-click launch • Share screens, medical images, reports
Remote Patient Monitoring• Connect to Over 40 Blue Tooth devices• Includes consumer and proprietary clinical devices
Online MedVideo Library• For patient and staff education• Stores video, slides, photos, documents
First Telemedicine service targeting LGBT population
The Telehealth PlatformFor Medical ProfessionalsHIPAA Compliant, E-Consultations, Patient Scheduling,Remote Patient Monitoring & much more…
What is the Potential Exit Strategy for Virtual Medicine Entrepreneurs?
CEO sees telemedicine opportunity with $2B Oculus acquisition
How Google Glass Will Transform Healthcare
New Kardia™ Band for Apple Watch Delivers Medical-grade Electrocardiogram (EKG) Anytime, Anywhere
What’s the Next Big Thing in Virtual Medicine ?
Wearables
Big Data/ PopulationHealth Management
Deep Learning/Machine Learning
