Posts Tagged medtech

Register now!

We are actively accepting registrations for the two healthcare innovation unconferences I’m working on in October:

HealthCamp SFBay in San Leandro on the 5th can be registered for at: http://healthcampsfbay.eventbrite.com/

BIL:PIL in San Diego on the 30-31st registered for at: http://bilpil2009.eventbrite.com/

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Biotech is the New [old school] Pharma

BioI just got back from the Bio (Biotechnology Industry Organization) annual conference in Atlanta and was struck by just how uptight the industry has become. Undoubtedly some of this rigidity can be attributed to the fact that over 90% of funded biotechs have provided no return on investment and the industry as a whole is suffering as much as everyone else in this bleak economy. But the idealism and creativity once hallmarks of the biotech movement seem to have faded and some new [design] thinking could help provide the needed therapy.

Steve BurrillIn fact, Steve Burrill a leading biotech investor and industry veteran, forecasted many of the same things I’ve been preaching here such as the movement toward a patient-centered model of health care delivery. During his state-of-the–industry report at Bio he dedicated almost half of his presentation to the sea change of IT-enabled healthcare. Some of his key points included:

  • Emerging “Self-Care Model” with home diagnostics and monitoring systems channeling data through mobile communication devices to then telecommunicate with labs.
     
  • Increasingly consumer-driven personal health planning through partnership with physician and aggregated digitalized health data (Burrill even cited Moore’s law on this one and conceded that Europe will probably beat us in getting to an efficient model).
     
  • Movement towards a convergence model as data sources become increasingly linked and accessible to both patients and doctors.

 

How all this ties to biotech is through the concept of personalized medicine. With inexpensive genetic profiling ($399) from firms like 23andme, an individual can work with their doctor(s) to establish a care plan tailored and tracked specifically to their medical needs, lifestyle and disposition.

Biotechs need to start playing with the rest of the team more – partnering with healthcare social media sites as well as electronic records and diagnostic tool designers to remain relevant and integrated in this fast-moving ecosystem. Drop me a line, I’ve got some ideas for you.

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