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Amidst the excitement about consumer wearables, we need to realize how different these models are:
1) Device + algorithm alone
2) Device/algo + your HCP
3) Device/algo + 3rd party coach/HCP
Common tech, but very different biz models, evidence reqs, regulatory, etc.
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1) Device + algorithm alone
2) Device/algo + your HCP
3) Device/algo + 3rd party coach/HCP
Common tech, but very different biz models, evidence reqs, regulatory, etc.
1) Device + algo alone:
-Self-Tracking for Fitness/Wellness
-Health Screening (alerts user of a *possible* issue & suggests they see HCP)
-> Can differentiate consumer devices
-> May enable consumer subscription biz
-> May enable device sales to employers and payers
-Self-Tracking for Fitness/Wellness
-Health Screening (alerts user of a *possible* issue & suggests they see HCP)
-> Can differentiate consumer devices
-> May enable consumer subscription biz
-> May enable device sales to employers and payers
2a) Device/algo + your HCP:
-Remote Patient Monitoring: HCPs track/alerted on specific issues (e.g., adherence, disease exacerbation) to enable early intervention
->Promising clinical/cost impact
-> VERY challenging to get HCPs on board due to reimbursement and workflow concerns
-Remote Patient Monitoring: HCPs track/alerted on specific issues (e.g., adherence, disease exacerbation) to enable early intervention
->Promising clinical/cost impact
-> VERY challenging to get HCPs on board due to reimbursement and workflow concerns
2b) Device/algo + your HCP #2:
-Digital Diagnostics: HCPs get a report/data from the device/company and make a diagnosis (e.g., iRhythm ZIO)
-> Much higher regulatory and evidence bar vs. Health Screening (e.g., Apple AF detection)
-> Uphill battle with payers
-Digital Diagnostics: HCPs get a report/data from the device/company and make a diagnosis (e.g., iRhythm ZIO)
-> Much higher regulatory and evidence bar vs. Health Screening (e.g., Apple AF detection)
-> Uphill battle with payers
3a) Device/algo + 3rd party coach/HCP:
-Virtual Care (e.g. Livongo): digital tools power a new care model: more continuous, proactive, patient-centric, and scalable
-> Growing fast
-> Regulated as HCPs, not tech
-> Need evidence for employers/payers; evidence early but promising
-Virtual Care (e.g. Livongo): digital tools power a new care model: more continuous, proactive, patient-centric, and scalable
-> Growing fast
-> Regulated as HCPs, not tech
-> Need evidence for employers/payers; evidence early but promising
3b) Device/algo + 3rd party coach/HCP:
-Consumer Health Coaching: programs for things like fitness (Apple Fitness+, Fitbit Premium + Health Coaching) and weight loss (Noom)
->Minimal/no regulatory reqs (beyond FTC)
->No evidence requirements
-Consumer Health Coaching: programs for things like fitness (Apple Fitness+, Fitbit Premium + Health Coaching) and weight loss (Noom)
->Minimal/no regulatory reqs (beyond FTC)
->No evidence requirements
Why bother breaking things down like this? Well, a few reasons:
1) It& #39;s confusing to lump so many different business under "remote monitoring"; makes it harder to think critically about mkt size, adoption requirements, players, etc.
1) It& #39;s confusing to lump so many different business under "remote monitoring"; makes it harder to think critically about mkt size, adoption requirements, players, etc.
2) Looking at it this way is essential for understanding the strategies of consumer wearables co& #39;s.
e.g., Apple:
-Compete directly in Self-Tracking, Health Screening, Consumer Health Coaching
-Enable *others* in RPM, Digital Diagnostics, and Virtual Care using Apple devices
e.g., Apple:
-Compete directly in Self-Tracking, Health Screening, Consumer Health Coaching
-Enable *others* in RPM, Digital Diagnostics, and Virtual Care using Apple devices
3) This view also helps anticipate where the market is headed.
One of the most important questions is whether/when Apple, Fitbit, Amazon, etc. will move to compete directly in more medical applications: RPM, Digital Dx, Virtual Care
What do you think?
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One of the most important questions is whether/when Apple, Fitbit, Amazon, etc. will move to compete directly in more medical applications: RPM, Digital Dx, Virtual Care
What do you think?
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