GE Healthcare: “Biggest opportunity for #Startups is improving labor productivity in hospital: wait times, utilization, mobility.” #mhvf
— Chathri Ali (@chathri) April 22, 2014
James Rogers: Mayo Ventures is “betting pretty big” on #meddevices. “I think the pendulum will swing.” #mhvf
— Deanna Pogorelc (@DeannaJour231) April 23, 2014
With the Rise of AI, What IP Disputes in Healthcare Are Likely to Emerge?
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
We talked about crowdfunding, the future of data analysis and mobile health funding models at the MidAmerica Healthcare Venture Forum this week in Chicago.
There was not a specific panel about medical devices, but the topic did come up several times. The interesting part was that GE Healthcare Services and Mayo Clinic Ventures had opposite opinions on the prospects for medical devices startups.
Mike Swinford, President and CEO Global Services at GE Healthcare, said that the medical device tax has had an influence on his company’s strategy. He said GE has paid tens of millions if not hundreds of millions in the new tax, money taken away from earnings per share.
A Personalized Approach to Medication Nonadherence
At the Abarca Forward conference earlier this year, George Van Antwerp, managing director at Deloitte, discussed how social determinants of health and a personalized member experience can improve medication adherence and health outcomes.
“It has shifted our focus away from things that are reimbursed,” he said. “Now we want to provide more services and analytics so people can get more from those assets.”
Swinford sees the biggest opportunities in workforce optimization and cutting waste out of the healthcare system.
That was Day 1. On the second day of the conference, James A. Rogers iii, chair of Mayo Clinic Ventures, said that his team is betting pretty big on devices. He spent quite a bit of time talking about the partnership that his team has built with Enterprise Ireland. He said that the partnership includes all the critical pieces of the puzzle: R&D product innovation, collaboration in translational research, clinicians and manufacturing.
“This goes way beyond tax breaks,” he said. “There are ways for us to move forward and find the funding, you just have to go after it hard.”
Jim Rogers: @MayoClinic is working in Ireland for med tech because of the coordinated effort of Irish gov, biz and academia.
— Lisa Helminiak (@helmin7) April 23, 2014
