Smartphone diagnostic creating portable eye exam | MedCity News

Yet another smartphone medical device, this time a portable eye exam for use in developing countries. Very cool. There is enormous need and potential for inexpensive, portable diagnostics in the developing world.

I’m particularly impressed with how the current generation of entrepreneurs has decided to avoid costly custom technology solutions and instead leverage the multiple billions of dollars previously invested in IT. This device connects to the web and not only does the diagnosis but it shows the patient eyeglass stores.

Read more: Vinod Khosla-backed smartphone diagnostic creating portable eye exam raises $2M | MedCity News.

How Restyling the Mundane Medical Record Could Improve Health Care | Wired Design | Wired.com

This is an interesting study in design and healthcare IT but lacks a clear roadmap for successful implementation – something that businesses require but design competitions can ignore.

“The results of a contest sponsored by the White House shows how powerful a dose of design can be in treating what ails our medical system.

Electronic medical records (EMR) are extremely useful tools and can help improve patient care and reduce costs — if designed and used properly. Unfortunately, good design is hard to come by in this market. Health IT data standards, privacy laws, and impenetrable health systems complicate an already challenging design process and usually lead to lackluster products.”

As the article refers to it, the “mundane” electronic medical record is becoming increasingly important as more test results, physician notes, imaging results, and patient records exist only in digital format. And everyone probably remembers the financial incentives that the Affordable Care Act dangled in front of physicians to persuade them to adopt EMR technology.

One of the key questions is who is the customer for an EMR? That’s complicated…but that’s who gets the attention from the EMR vendors, because they pay the bill. Sometimes it’s the physician or practice who pays for the system, sometimes it’s a healthcare system like Providence or Group Health here in Seattle, and sometimes the patient can be the (non-paying) customer. After all, the data belongs to the patient, right? But from the perspective of the entity paying for the EMR, does patient satisfaction really matter? Just like many things in healthcare (and technology for that matter), the consumer is the product, not the customer.

Some of the biggest issues preventing widespread acceptance of EMRs and more enthusiastic innovation in the market segment, in my opinion, are interoperability among disparate systems, lack of standards, data portability, and switching costs for the EMR owner. EMR vendors have not historically made it easy and simple to transfer records among competing systems while there is a confusing absence of standard fields and features from vendor to vendor. Patients switching to a competing system because of relocation or changing insurance plans or new specialists or switching primary care providers often have a difficult time accessing old records in the new system. Finally, physicians who switch to new EMRs have reported having to pay high costs to import and remap their old EMR data into a new system, a cost that has been referred to as “ransom.”

The benefits to EMRs are many, as the article suggests: easier management of chronic diseases, improved communications, better patient compliance, fewer medical errors, reduced waste because of duplicate and uncessessary tests, and lower overall costs to the healthcare system. Benefits to the advanced EMR concepts discussed in this article are potentially even more valuable. Will we see them in the near future? As a consumer and occasional patient, I sincerely hope so. As an industry observer, “the doctor will be with you shortly.”

Read more: How Restyling the Mundane Medical Record Could Improve Health Care | Wired Design | Wired.com.

I’ll be discussing more about the different types of customers involved in medical device commercialization in the next post in my ongoing series, Commercialization 101.

Google Glass in healthcare

Google Glass has created lots of buzz recently, much of it negative. People seem to be reacting to the “Borg” look and a perceived invasion of privacy. I believe it’s Google’s way of inoculating our culture with what is a beta product, after all, and something they will continue to refine.

I worked for a company that developed and marketed a head-worn, head-up “augmented vision” display. We focused on mobile “knowledge workers,” including physicians and surgeons. There was much interest but the technology was not sufficiently refined (this was 10 years ago) and we could not meet user expectations.

I believe Google and others will perfect this aspect of wearable technology and that vertical markets like healthcare will be among the first to adopt. Wouldn’t you rather have your doctor looking at you than staring at a tablet during your visit, even if she is wearing a weird set of glasses? How about giving a surgeon and anesthesiologist the ability to monitor multiple readouts simultaneously, all without diverting their attention from the patient? There are many opportunities for new products, new applications, and new companies using this technology.

photo from http://www.forbes.com/sites/johnnosta/2013/06/21/google-glass-in-the-operating-room/
Rafael Grossmann, MD, FACS at Google Glass’s first surgical appearance (image from Forbes.com)

Lastly, there is a terrific video (in my opinion) from the Cleveland Clinic in the second link that gives a glimpse into what this technology may deliver someday. It’s quite moving and worth five minutes for anyone involved in any aspect of healthcare.

Read more: Inside The Operating Room With Google Glass – Forbes.

Read/see more: #ifIhadGlass: Google’s new gadget could turn Cleveland Clinic’s empathy video into reality | MedCity News.

 

The value of curmudgeons and why health systems and startups should engage them | MedCity News

We all tend to seek people who agree with our brilliant ideas. It’s human nature to avoid the naysayers and skeptics. There is a significant danger of group think if you apply this filter too energetically, however.

I’ve found that the best tactic for engaging physicians or nurses as advisory board members or informal advisors is to have a mix of ages and experience levels. Too often, the key opinion leaders are too busy to give practical advice – but they are needed for their names and tacit endorsements. And they will point out obvious blunders.

The younger physicians and residents are often extremely energetic and idealistic but can be naive about what it takes to bring about change in an often byzantine hospital or healthcare system. Sometimes they just don’t have enough practical experience to offer meaningful advice about adoption of a new technology, although they are extremely sharp about technology and the latest research.

It helps to engage one or two mid to late-career curmudgeons as the article suggests. These people have seen more than one battle and in many cases, more than one war, metaphorically speaking. If you can gain their trust, they will tell you the flaws in your go to market plan and what needs to change. Of course, it helps to develop a tougher hide before asking for feedback from “grizzled veterans” as you will quickly learn that your “brilliant ideas” are anything but!

“…anyone who wants to make changes from a hospital system to a scrappy startup would do well to bend the ear of a curmudgeon, be they a nurse, provider or health care professional affected by a proposed change or innovation they want to make. They may be surprised by the results.

Why? Because curmudgeons are more likely to express their opinion about whether a new system or initiative will or won’t work and why. If a new interface would interfere with workflows, for example, they will often be the first to speak up. They are frequently the toughest critics. You may not get showered with praise from them but if you engage them early on and make it clear their opinions are valued you may end up making your app, EHR, etc. much better than it might otherwise be.”

Read more: The value of curmudgeons and why health systems and startups should engage them | MedCity News.

What’s Your Value Proposition? Medical Device Commercialization 101

PurchaseFirst of all, do you know what I mean by value proposition? It’s a pretty straightforward concept. Essentially, it’s why people or companies buy from you. They give you money, you give them…something in return.

That’s where some people go astray. You must think like a customer and put yourself in the mind of your customer now. As the old cliche goes, guys at Home Depot aren’t really buying drills, they are buying the ability to put a hole in something. I’d also argue that they’re buying a few moments of peace and quiet in “guy land.”

So it’s more than just the laundry list of features you or your product manager or your product engineer say comprises your product or software or (heaven forbid) “solution.” To keep things simple, I’ll be referring to all of these categories as “products.”

Customers buy products because their perceived value of the product equals or exceeds the sum of the investment required to acquire it plus all of the risks associated with purchase and use of the products. This formula is highly individualized and probably not very useful except in the abstract.

We can break it down to simplify. First of all, value is the sum of all of the benefits a customer gets from buying and using your product. Those may include:

  • Solving a problem 
  • Preventing a problem 
  • Saving money 
  • Avoiding loss (not quite the same as saving money) 
  • Reputation/ego enhancement (think iPhone) 
  • Meeting a standard, requirement, or law 
  • Assurance of risk reduction – guarantee, warranty, trade-in value, etc.

Next, the investment required for acquisition might include:

  • Cash price
  • Lease, loan, or other financing terms
  • Opportunity cost of the money being spent
  • Installation cost
  • Training cost
  • Write-off cost of product being replaced
  • Cost to research the acquisition (can be substantial for capital purchases)
  • Ongoing support and maintenance costs

Finally, the risks of buying a product from you could include, among other things:

  • Incompatibility with existing systems or processes
  • Failure to perform to requirements (poor quality)
  • Failure to perform consistently (poor reliability)
  • Support (training, repair, maintenance, updates) not available or not to expectations

Now you can see all of the factors that make up a decision to purchase.

The value proposition is that the Purchase only occurs when Benefits are equal to or greater than the Costs plus the Risks of acquisition.

Your job then, as a startup CEO, Product Manager, or Business Unit Head, is to identify the benefits that your target customers need, then turn them into physical features, then price the product attractively while still making a fair profit, and also design programs and safeguards to mitigate the customer’s risk.

Seems simple? I don’t think so, either.

By the way, these concepts apply just as well to businesses as to individual consumers. After all, businesses are nothing but individuals working together.

Think of a medical practice considering the purchase of a new Electronic Medical Record system. They probably have an existing system with which they are not happy. Price is a factor but there are many, many other factors that will influence their decision.

Takeaways:

  1. Put yourself in the mind of your customer.
  2. Never forget that customers buy benefits.
  3. A purchase doesn’t occur until perceived value equals or exceeds perceived costs plus perceived risks.
  4. As the saying goes, perception is everything.

Next time, I’ll take a look at the different types of buyers involved in a medical device purchase.

 

 

Invisible Bike Helmet Inflates On Impact VIDEO – YouTube

OK, so this is not medical technology but it should prevent the need for physicians and hospitals. Also eliminates the dreaded “helmet head hair.” I would probably buy one when the price comes down. Nothing like cycling without a helmet – except for the fear of a concussion, of course!

Smart entrepreneurs – they started with a need and a market. Europeans famously do not wear helmets and they are just as vulnerable in crashes as the rest of us. They have plans for line and market extensions – horse riding, downhill skiing, hip protection for the elderly, and epilepsy seizure protection. Maybe the NFL should look into this…

Would be huge if they could get product placement during the Tour de France.

I would lose the Hövding name before expanding beyond Sweden – sounds like something from Ikea!

See the video: Hövding Invisible Bike Helmet Inflates On Impact VIDEO – YouTube.

Widespread Layoffs Leave MedTech Professionals Shaky on Job Security | MDDI Medical Device and Diagnostic Industry News Products and Suppliers

Is the notorious medical device excise tax to blame? How about Obamacare? A hangover from the Great Recession? Austerity in Europe? CEO needs a new yacht?

In any event, it’s alarming to note, in an industry as robust and historically profitable as medical devices, that 40% of medical device industry professionals polled are either out of work or in a panic about their job security.

“… the byproduct of these seemingly endless medical device industry layoffs may just be the emergence of a culture of fear and a host of new problems with which companies may now have to contend.

Job cuts are cutting deep, and medical device companies need to work on healing that gaping wound for the health of the industry.”

Heads up, startup execs. You may be looking at a pretty deep talent pool as you go to market.

Read more: Widespread Layoffs Leave MedTech Professionals Shaky on Job Security | MDDI Medical Device and Diagnostic Industry News Products and Suppliers.