A Peek Inside the Harvard Forum on Health Care Innovation

Prof. John Quelch discussing the Bloodbuy case study.

The Harvard Forum on Health Care Innovation, a joint collaboration between Harvard Business School and Harvard Medical School, was recently held in Cambridge, Mass, on April 15-16, 2015. This private, invitation-only event assembled an elite group that included HBS and HMS alumni and faculty, as well as other key opinion leaders in healthcare. Cara Sterling, Director of HBS’s Health Care Initiative, who organized the event, shared that the goal for the event was to provide an opportunity for “people from different sectors to come together and talk freely” in order to “spur innovation in healthcare.”

One key aspect of the event was the introduction of the finalists of the HBS-HMS Health Acceleration Challenge, a contest that was launched to seek innovative, early-stage healthcare ventures that have great potential for transforming healthcare.

Out of a total of 478 applicants, 18 were selected as semi-finalists; from those, four of the brightest were chosen as finalists to share a $150,000 Cox Prize. They’ve also had an HBS case study written about them, and each team presented and received feedback at this year’s Forum. The final winner will be decided in a year’s time, by identifying the startup venture that is most successful in disseminating and scaling their healthcare solution.

Look out for the great work of these four finalists in the coming year:

  • Bloodbuy is a startup that aims to improve the efficiency and price transparency of the blood supply market by matching blood centers and hospitals through an online, cloud-based platform. In a pilot program, this system was found to decrease hospital costs by 23% while also decreasing the risk of blood shortages and the waste of blood products.
  • The I-Pass Patient Handoff Program is a training curriculum developed by six clinicians to improve the exchange of patient information between providers that occurs at the change of a shift. A research study of this intervention, published in the New England Journal of Medicine, found that use of I-Pass led to an impressive 30% reduction in medical errors.
  • Medalogix is a predictive analytics company that has created a product to that can assist those in the post-acute care sector to better identify hospice-eligible patients. Through working with Medalogix, clients have been able to successfully increase transfers to hospice from home health care and decrease the number of live discharges from hospice.
  • Twine Health is a startup that has created a cloud-based, collaborative care platform of the same name that enables providers to partner with their patients through coaches to provide seamless care and support for the management of chronic disease. In a recent clinical trial, Twine more efficiently helped patients achieve blood pressure control, which resulted in cost-savings (versus the traditional model of care).

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In addition to the Health Acceleration Challenge finalists, there was also an impressive line-up of healthcare experts that shared their thoughts throughout the two days in keynotes and panel discussions. Below are some of the highlights:

Value in Healthcare

Speaker Peter Orszag, Vice Chairman of Corporate and Investment Banking and Chairman of the Financial Strategy and Solutions Group at Citigroup, discussed three major structural forces that he feels will have a major affect on healthcare quality and spending, including the shift to value based payments, digitization of healthcare, and the increased role of the consumer in healthcare spending. He also discussed three big unknowns and their future impact on the heathcare cost curve, namely: future policy changes, increasing consolidation of the healthcare market, and emerging healthcare innovation.

A Blueprint for the Future

Mark Bertolini, Chairman and CEO of Aetna, gave a keynote speech entitled “A Blueprint for a 21st Century Health Care System” in which he highlighted five key measures that hold promise to improve healthcare:

  • System re-design that enables lower cost, higher quality care with increased access
  • Sophisticated health IT systems
  • Care optimization, especially to coordinate care for the 5 percent for whom most healthcare dollars are spent
  • Aligning economic incentives with healthcare goals
  • Increasing patient engagement.

Employers as Innovators

In an engaging panel discussion, moderator Bryan Roberts, Partner at Venrock, discussed the growing role of “employers as innovators” with expert panel members Ellen Exum, Director of Benefits/Global Design and Strategy at IBM; Adam Jackson, CEO and Cofounder of Doctor on Demand; Brian Marcotte, CEO and President of the National Business Group on Health; and Derek Newell, CEO of Jiff.

There was a robust discussion regarding the use of wearables and other tools as part of wellness programs to increase engagement and compliance, and to hopefully improve outcomes. One example was Adam Jackson’s Doctor on Demand which, for $40 per telehealth visit, has been found to decrease costs, decrease absenteeism, and increase productivity and morale.

Focus on Neurologic Disease

In a discussion with William Sahlman, Professor of Business Administration at HBS, Deborah Dunsire, MD, President and CEO of FORUM Pharmaceuticals shared her company’s mission of tackling neurological disease. Costs to society due to neurologic disease are great, she argued, not just in terms of direct costs, but also indirect costs – and there should be increased focus in developing treatments for these disorders. One significant challenge is the lack of mental health advocacy, which is an obstacle to obtaining funding for research.

The “Retail-ization” of Healthcare

Speaker Helena Foulkes, President of CVS/Pharmacy and Executive VP of CVS Health, shared the key factors that she feels are driving the “retail-ization” of healthcare:

  • Excessive spending on chronic disease
  • Increasing number of baby boomers on Medicare
  • Rising use of the internet to research health information online
  • Growing numbers of employers with high deductible plans.

She also shared the initiatives that CVS has begun to help tackle these problems, which include drug adherence programs, a focus on patients with the greatest needs, and integrating digital tools.

Dr. Watson Will See You Now

Speaker Mark Megerian, Senior Tech Staff Member at IBM Watson Solutions, shared the exciting (and for some, frightening) prospect of using machine learning and predictive analytics to make clinical recommendations via IBM’s Watson program.

Trained at Memorial Sloan Kettering (MSK), Watson has been shown to be capable of making recommendations similar to MSK oncologists, with 97 percent accuracy, for breast, colon, rectal, and lung cancers. They are now scaling to include other types of cancers and also to involve other organizations.

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Closing remarks were given by Dr. Jeffrey Flier, Dean of HMS, who shared that he feels healthcare delivery innovation has been sorely lacking, and that HMS and HBS are now deeply committed to medicine and entrepreneurship. Harvard hopes to lead healthcare innovation in the future. From the look of this year’s very promising Health Acceleration Challenge finalists, it seems his wish is likely to come true.

This article was originally published on MedTechBoston.com.

What’s Hot in Boston Biotech

Xconomy

Popular business and technology news site Xconomy held its eighth annual life sciences forum on April 8, 2015 at the Broad Institute in Cambridge, Mass. This year’s theme was “What’s Hot in Boston Biotech” and drew a who’s who of industry leaders, scientists, and entrepreneurs. The sold-out event packed the 250-seat auditorium of the Broad Institute and drew a dynamic crowd from all segments of the life sciences industry.

So, the burning question… what is hot in Boston biotech?

New Treatments for Neurodegenerative Diseases

Adam Koppel, Senior VP and Chief Strategy Officer at Biogen, discussed exciting new treatments that are in the pipeline for some of the most challenging neurodegenerative disorders. Highly anticipated medications include aducanumab for Alzheimer’s disease, anti-LINGO for multiple sclerosis, and ISIS-SMN for spinal muscular atrophy. Aducanumab has gotten a lot of attention in the news recently as a result of the positive results of a clinical trial showing a dose and time-dependent reduction in amyloid plaque.

Another company working on therapies for Alzheimer’s (and other neurodegenerative diseases such as Parkinson’s and ALS) is Yumanity. Tony Coles, CEO, and Susan Lindquist, Scientific Founder, discussed Yumanity’s use of yeast as a neuronal model that could tackle the protein folding problems at the root of many neurodegenerative diseases.

Exciting Frontiers in Synthetic Biology

James Collins, Professor of Medical Engineering and Science at MIT, and Amir Nashat, Managing Partner at Polaris Partners, discussed new opportunities in synthetic biology. Notable innovations include the development of therapeutics and diagnostics that can be affordably embedded in paper, cloth, or made into pellet form, as well as the synthetic engineering of microbes to fight diseases. The speakers also discussed the importance of ethical considerations and the need for safeguards as this area of science advances.

Immuno-Based Cancer Therapies

Chuck Wilson, CEO and President of Unum Therapeutics, and Ben Auspitz, Partner at Fidelity Biosciences, discussed a bold new avenue for cancer treatment that involves re-engineering a patient’s own T-cells with antibodies that respond specifically to their cancers. Currently, the therapy has been successfully used in the treatment of acute lymphoblastic leukemia, but it holds great potential in treating other cancers – and also for possibly developing a cancer vaccine.

Harnessing the Microbiome 

Another exciting area of research in biotech is in the development of therapies that aim to modulate the microbiome to treat disease. Bernat Olle, Principal of PureTech Ventures, and Marian Nakada, VP of Venture Investments at JNJ Innovation, spoke about a joint venture – Vedanta Biosciences – focusing on microbiome treatments for autoimmune and inflammatory diseases.

The Future of Genetic Therapy

In a fantastic panel on the potential and pitfalls of gene therapy, led by moderator Michelle Dipp, Co-founder and CEO of Ovascience, panel members discussed the fact that gene therapy is still in its nascency. Many underestimate the time that it will take to develop effective therapies. Panel members included: Steven Paul, President and CEO of Voyager Therapeutics; Olivier Danos, SVP of Gene Therapy at Biogen; and Peter Kolchinsky, Managing Member and Portfolio Manager at RA Capital Management. Other challenges are in developing better gene vectors and anticipating how the broad adoption of genetic carrier testing in the future may affect the development of gene therapies.

The Potential of Precision Medicine

Samantha Singer, COO of the Broad Institute, moderated an interesting panel on precision medicine, with speakers David Altschuler, Executive VP of Global Research and CSO of Vertex Pharmaceuticals, and Alexis Borisy, Chairman of Foundation Medicine and Partner at Third Rock Ventures. Altschuler said that the advantage of precision medicine is that it will enable companies to target therapies more specifically and to “fail less often.” Efficiency, pace, and the success of drug development are likely to be enhanced as a result of better knowledge of the genetic basis of disease.

Scalability Challenges

Noubar Afeyan, Managing Partner and CEO of Flagship Venture, gave an entertaining talk about the challenges and opportunities of the biotech industry in Boston and Cambridge. He shared that he felt this was an unprecedented environment for biotech, in large part due to the co-existence and collaboration of large biotechs and pharmas along with smaller, entrepreneurial companies that engaged in more radical innovation.

He went on to discuss that he felt that scalability was the biggest challenge for Boston biotechs, in terms of resources, people, the process, and other externalities (such as space, the regulatory environment, and the development of partnerships). This is where much of the focus should be in the industry in order to encourage further growth.

This story was originally published at MedTechBoston.com.

Key Healthcare Takeaways from HxRefactored

amyhxr

Health Experience Refactored (HxRefactored), a conference co-hosted by health innovation event planner Health 2.0 and design agency Mad*Pow, recently met at the Westin Boston Waterfront on April 1 and 2, 2015. There was an impressive turnout of professionals from diverse industries, all gathering to discuss how to improve healthcare through better patient-centered design. The two-day event was jam-packed with keynotes from influential speakers, panel discussions, exhibits, and other presentations.

There was much to learn for anyone working at the intersection of technology, design, and medicine. Below are some of the key takeaways for healthcare professionals:

Harnessing “Small Data”

There’s a lot of buzz about collecting “big data” in healthcare right now, but Deborah Estrin, Professor of Computer Science at Cornell Tech, founder of Healthier Life Hub, and co-founder of Open mHealth, spoke about the need to build an ecosystem with small data, too – data that patients generate everyday. Small data includes passively recorded activity from wearables, data from mobile apps, digital traces from purchases and other online activities, and data from sensors. Estrin co-founded Open mHealth with the goal of creating free and open API’s where this small data can be collected, accessed and harnessed to better inform clinical care.

Changing Health IT

Dr. John Halamka, CIO at Beth Israel Deaconess Medical Center, outlined the big trends in health IT that we can expect in the coming year. These include work on the Federal Interoperability Roadmap, Meaningful Use Stage 3 Notice of Proposed Rule Making (which aims to simplify and enhance interoperability of the CMS incentive program), adopting a risk-based approach for regulating mobile medical apps, increasing awareness and focus on security and privacy concerns, and a return to private sector innovation, with the Argonaut Project being a prime example of collaboration among private sector EHR companies to create a universal format for data collection to enable more transparent information sharing.

Improving Healthcare with Telehealth

Dr. Geoff Williams from the University of Rochester’s Center for Community Health gave an interesting talk about the Self Determination Theory model of health behavior change. Through his research, he has found that increasing contact time with providers through virtual visits can lead to increased success in achieving desired behavioral changes and health outcomes. Virtual programs were found to be more successful than traditional approaches to treat certain health conditions.

Shifting to Innovative Care Models

During one of the panel sessions, Dr. Joseph Kvedar, Vice President of Connected Health, Partners Healthcare, discussed how the shift to value-based payments is necessitating the rise of innovative models of care that focus more on patient engagement, prevention and wellness promotion.

There were a number of interesting speakers from organizations working in this space who gave great examples of success in improving outcomes and providing cost- savings. The speakers included David Chao, Director, Industry Solutions at MuleSoft; Stanley Crane, Chief Innovation Officer at Allscripts; Andrea Ippolito, Presidential Innovation Fellow at the VA; Dr. John Moore, CEO of Twine Health; and Dr. Yuri Quintana, Global Health Informatics at Harvard Medical School.

Using Physician Databases & Referral Tools

Another interesting panel discussion focused on the struggle to efficiently find eligible physicians, make appropriate referrals and schedule physician appointments. There were a number of excellent companies represented during this panel, most of whom are building physician databases and working to correct this problem for various stakeholders, including patients, providers, and organizations. Most interesting is that in addition to providing these services, some of these companies can also harness their large databases for demographic studies of physicians. Speakers included Lisa Maki, CEO of PokitDok; Nate Gross, Co-Founder of Doximity; Ashish Patel, Co-Founder of Careset and DocGraph; Russell Tevis, Senior Director from the Advisory Board Company; and Julie Yoo, Co-founder and Chief Product Officer of Kyruus.

Keeping a Patient-Centered Focus

Ted Talk speaker Julian Treasure gave an inspiring final keynote that fittingly reminded the audience to keep the focus on the patient. He gave helpful advice on how healthcare leaders can be more mindful of the patient’s experience, particularly through the use of sound. He also discussed how to be an active listener, and also how to be more mindful when speaking.

This article was originally published on MedTechBoston.