Livongo CEO Glen Tullman has worn many hats in healthcare, but one of them is as an investor at 7 Wire Ventures. In a talk at the MedCity INVEST conference, he drew attention to 6 rules he has for healthcare investors before they leap into a startup or growth stage company. He also urged health tech entrepreneurs to ensure that their technology makes patients’ lives easier, not more difficult.
Livongo also announced this week it closed a $45 million Series C round.
Among his investment rules are:
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.
- What is the healthcare problem that you’re solving?
- Does it scale?
- Is it a complete experience or just a piece of the solution.
- How do you get paid for it?
- Can you demonstrate measurable changes in clinical care and financial results?
- Who would lose if you won?
On the sixth point, Tullman noted “Big players in healthcare don’t want to be displaced by new ideas. There are a lot of pitfalls in healthcare.”
Tullman also encouraged entrepreneurs to the need to develop technology that easily fits into the user’s life. Ideally, it’s passive, preventive, predictive and doesn’t require a tech savvy user.
He used an example of an organization using Livongo’s In Touch solution to triage diabetes patients for appointments. Physicians assess patients’ data and if they are able to manage their blood-glucose levels well, they can skip appointments. That way, physicians can spend more time with patients having a tough time staying within safe parameters.
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.
