Gandolf Finke, PhD

🚀 Digital Health Funding Soars by 48% in Q1'24! In Q1'24, digital health saw an impressive 48% increase in funding compared to the previous quarter. This surge outpaces the broader venture capital landscape, which recorded an 11% growth. While digital health was on the rise, other industries experienced more moderate gains or even declines: - Fintech: -16% QoQ - Retail Tech: +17% QoQ This uptick in digital health funding highlights the growing interest in technology-driven healthcare solutions. It's a sign that investors are recognising the potential for innovation and positive impact within this sector, even as other industries face more mixed outcomes. 🌱💰 #DigitalHealth #VentureCapital #StartupFunding #Innovation

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🚀 Breaking 🚀 New 2024 🇺🇳 WHO Report 🇺🇳 on the Status Quo of the digital health landscape in the European Region 🗺️ (the geography not the economy). 🐣 Takeaways: 1️⃣ This is a great benchmark for future developments 2️⃣ Adoption of Digital Health Policies: There's a consistent trend across countries in developing and adopting national digital health policies. These policies are crucial for setting frameworks and standards, indicating a strong commitment to integrating digital health technologies. 3️⃣ Overarching health data strategies: Are still stuck between a rock (interoperability) and hard place (secondary uses). Kudos to Finland for having implemented the most mature health data strategy on the planet today: mandating a national-level data model and decoupling data from systems by leveraging the power of #OpenEHR. 4️⃣ Emphasis on digital health education: Germany leads the pack. 🦾 Areas of potential improvement 📈: 📊 Evaluation of Digital Health Interventions: Although 77% of the countries claim to have an agency accountable for such monitoring, only 49% have developed evaluation frameworks, 37% claim to assess their telehealth services and only 19% do so for their mHealth interventions. Reasons for missing this mark have not been elucidated. 😷 All indicators collected but one, are oriented toward sick-care. Upcoming WHO reports should expand more on the effectiveness of digital health interventions in the concrete case of #NCD #prevention. The used ‘Health Promotion’ being a rather toothless indicator. 💶 Digital Health Funding and Governance 🚨: There’s a clear opportunity to tie digital funding to measurable health outputs. Unfortunately, most countries AND the WHO (through this report) miss that mark by quite a margin. #digitalhealth #healthtech #EHR #EMR #telehealth #mHealth #WHO #strategy #leadership #governance #EU #Europe #Evaluationframeworks #digitalhealthliteracy #education #techfunding #governmentaffairs

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Healthcare startups and midsize companies looking to expand, as well as savvy investors must attend HLTH and HLTH Europe! Unlike traditional conferences, it's essential to engage in innovative opportunities, network with industry leaders, and participate in incredible programs like CONNECT to gain the full benefits. The entire conference is focused on networking (and enjoying great food), which is how you'll discover incredible opportunities. These events offer unparalleled benefits, including international prospects you won’t want to miss! Get ready to elevate your business and tap into global potential. Don’t miss out! 🌐 #HLTH #HLTHERP #HealthcareInnovation #StartupGrowth #InvestorOpportunity #GlobalExpansion

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🤔Curious about the hospital health data management in France? 📊 Check out my thoughts on the debate between centralized and federated approaches and their implications for real-world evidence research. 🔍💡 #HealthcareData #Innovation #DataSecurity

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Bertalan Meskó, MD, PhD recently posted his great infographics "The Timeline of Digital Health: Every Milestone In Making Patients The Point of Care". In it there is an entry for May 2004: First major paper on e-patients [The first generation of e-patients, BMJ]. As one of the 2 authors, the 2nd being Tom Ferguson, MD, I wanted to repost some of that BMJ entry, 20 years later! Whatever we proposed then remains true today, including "much of the fundamental research in this emerging field remains to be done". "The first generation of e-patients: These new medical colleagues could provide sustainable healthcare solutions" [...] Much of the fundamental research in this emerging field remains to be done — for example, a census of online support groups, studies of the patient centred email networks that arise when a loved one is ill, and evaluations of the benefits that online patient helpers can provide. We need more pilot studies: pilots in which patients are taught to provide their own medical care with the best support information technology can provide, pilots in which professionals and patients explore new ways to work together to care for other patients, and pilots in which teams of professionals and patients look for, evaluate, develop, or apply other new models of e-patient innovation. Fifthly, we suspect that the emerging world of the e-patient cannot be fully understood and appreciated in the context of pre-internet medical constructs. The medical world view of the 20th century did not recognise the legitimacy of lay medical competence and autonomy. Its metrics, research methods, and cultural vocabulary are poorly suited to studying this emerging field. Something akin to a major system upgrade in our thinking is needed, a new cultural operating system for health care in which e-patients can be recognised as a valuable new type of renewable resource — managing much of their own care, providing care for others, helping professionals improve the quality of their services, and participating in collaborations between patients and professionals. Given the recognition and support they deserve these new medical colleagues may help us find sustainable solutions to the seemingly intractable problems that now plague all modern systems.

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This insightful article in NEJM #AI evaluates #GPT-4's use in interpreting guidelines from the American Society of Clinical Oncology (ASCO) and the ESMO - European Society for Medical Oncology. The study assessed GPT-4’s ability to answer clinically relevant questions regarding pancreatic #cancer, metastatic colorectal cancer, and hepatocellular carcinoma. The results were striking: GPT-4 with Retrieval-Augmented Generation (RAG) provided correct responses in 84% of cases, compared to 57% without RAG. This 27% improvement highlights the potential of this technology to enhance clinical decision-making. These findings lead me to ponder several questions: How many #oncologists would face the same challenges in answering these questions accurately? How up-to-date are oncologists with the latest guidelines, considering the rapid pace of new cancer therapies and guideline revisions? What guidelines did GPT-4 get correct: those based on expert opinion or solid evidence? At Medint, we strive to envision a future where guidelines are updated much faster than we are accustomed to today. This raises another important consideration: what about those patients who do not perfectly fit within these guidelines? As we move towards the next stage of #personalizedmedicine, the ability of AI to provide #patient-centered and up-to-date recommendations will be crucial in ensuring the best possible outcomes for each patient. Read more here: https://lnkd.in/evFPdCii NEJM Group #healthcare #biotech

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We're witnessing the next wave of leading companies being within healthcare services & being more "involved" than just writing good code. 🌊 I fundamentally believe it's equally important, understanding on the highest granularity, how healthcare is delivered at the core (in the clinics, hospitals & with doctors). A couple years ago there was a massive focus on digital health, this has shifted to healthcare services, experiencing exponential growth atm, due to the following. 📈 1. Operating within the very heterogenous market of healthcare (in particular primary care) requires to understand and interpret operational nuances (those closest to the problem/market will win) and solve for those very operational topics 🩸 2. Pain to innovate is highest amongst those delivering care, as there is no "continuing as before" (patients jump between services/providers based on availability, that's why digital health only takes off v slowly), doctors can't transition away but are "stuck" with their daily operational problems 😵‍💫 3. Willingness to pay is present, (see point 2.) and doctors can afford to pay for these services (shift from paying for "non-available" staff to software) and lastly it's the largest market (DACH €+550B primary care spend) with everyone being a user at one point, opening up multiple cross revenue streams 💸 4. No payor/insurance fights but a "simple" B2B customer (non of the DTx/reimbursement complexities) and a market with unparalleled retention rates (check CompuGroup revenues over the past 10 years, €1.2B in 2023) ⚔️ 5. Less regulation and increasing emphasis/relaxation on data usage (check Patient Data Protection Act or European Health Data Space) as well as enforced digitalisation throughout the upcoming years (every restaurant needs a modern POS, whilst doctors can still operate pen & paper...) ⚖️ Personally I am very bullish, that within the next 5 years, we'll see the N26/Revolut transformation happening in European healthcare - no flying cars - just better operations, services & experiences on top of existing core medical services. 💯 Thanks for the Eterno Health mention Thomas Hagemeijer - V cool overview! 🙌🏽

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Here’s your recap of last week’s health IT news 🗞️ 👇 🥼AI Clinician Assistant • Suki : The AI scribe announced an SDK and APIs enabling developers to integrate ambient documentation into their applications. • Apricot: The gen AI pre-seed startup focused on reducing documentation overhead for home health nurses launched. • Tampa General Hospital + Palantir Technologies: The health system and the software platform are partnering to develop an AI care coordination and decision support platform. ☎️ AI Contact Center • Mediktor + Sensely: The AI symptom triage solution acquired the conversational member engagement platform. 📋  Patient Administration • Oracle (Cerner) + Loyal: The EHR now offers integration with the patient engagement solution through its Healthcare Marketplace. • HubSpot: The CRM and marketing platform announced it will now offer HIPAA support and sensitive data tools. 🏥 Provider and Practice Administration • LeanTaaS: The AI-enabled facility management solution released updates including: mobile-first live view of OR schedule, predictive staffing automation, and a gen AI solution allowing decision-makers to glean staffing and scheduling insights. ⚕️ Clinical Operations • Keragon: The HIPAA-compliant automation platform launched out of stealth with a $3M funding round. 🧑‍💻 Virtual and At-Home Care • AvaSure + CLEW: The virtual care platform is partnering with the AI-powered remote patient monitoring and analytics company to improve patient outcomes. 🍎 VBC • Evolent + Machinify, Inc.: The VBC org acquired AI Authorization assets from the AI operating system platform.    • ProgenyHealth, LLC + Wildflower Health: The maternity and NICU case management solution is partnering with the women’s health VBC enabler to “help health plans fill gaps, collapse silos and integrate into existing clinical and operational workflows.”    • Health Catalyst + Carevīve: The population health data and analytics company has completed acquisition of the cancer care management solution. 🧠 Food for Thought: • This article provided an interesting look at Nebraska Medicine’s efforts to design a next-generation hospital room, including the four technologies they’ve selected to anchor their work. https://lnkd.in/em-u-a5v    • McKinsey released a survey of 200 global health system executives on their investment priorities. Among the notable findings, 88% listed AI as an area of high potential impact, yet only 40% have implemented any solution thus far and over 20% don’t have plans to invest in the next two years. https://lnkd.in/eK3CeqQ2

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Pilot-isis… what’s that? Digital health pilots popping like mushrooms yet failing to gain traction to scale inside and across the hospitals. The #HLTHAmsterdam panel composed of Nicolas Castoldi, Directeur Délégué at Greater Paris University Hospitals - AP-HP, Micaela Seemann Monteiro, CMO for Digital Transformation at CUF - Hospitais e Clínicas, Thomas Whicher, Founder and CEO of DrDoctor, Katherine Jones, Lead Health at Hummingbird Ventures and Alexander Casall, Global Head of Business Line Health at ZEISS Group Digital Innovation, addressed the key question of moving beyond pilots. 🚀 To do this, they advised moving from Product Market fit to Product Market Implementation fit, taking into consideration 3 main elements: 1️⃣ Measuring Key Performance Indicators (KPIs) aligned with the hospital’s objectives: To get those right, the panel recommended spending a lot of time with the various stakeholders at various levels of the hospital. 2️⃣ Assessing the effort to implement and adopt the solution (direct and indirect resources): they advised for stand-alone solutions throughout the pilot phase as interoperability requires too much effort too early in the validation of the value proposition; 3️⃣ Addressing the risk/reward ratio: they recommended taking the time to acknowledge and manage the risks associated with the new workflow/process. I hope you've enjoyed getting a glimpse of the congress. 👁️‍🗨️ #ConnectedCare #HLTHAmsterdam #HealthcareInnovation #Networking #Learning #FutureOfHealth

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ECOSYSTEM VISUALIZATION OF THE DIGITAL HEALTHCARE INDUSTRY ⬇ ▫️Market segments have been depicted as actors for better readability. ▫️The grey rectangles around multiple market segments represent generic roles. ▫️To further improve readability and reduce complexity traditional generic roles have been omitted (manufacturer, purchaser, investors and consultants, political and humanitarian groups, researchers, and regulators) as well as the value streams between cloud service provider and information platforms, fiscal and market intermediaries, and services for remote and on-demand healthcare. ✍ Hermes, S., Riasanow, T., Clemons, E.K. et al. The digital transformation of the healthcare industry: exploring the rise of emerging platform ecosystems and their influence on the role of patients. Bus Res 13, 1033–1069 (2020). DOI: 10.1007/s40685-020-00125-x

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Digital Health- an adaptive challenge During DFH24 Paul Eleftheriou – Principal at Nous Group, emphasised viewing digital health primarily as an adaptive challenge rather than a technological one (I totally agree). He stressed the importance of integrating people-centric approaches within the digital health framework to enhance system sustainability and effectiveness. Here’s my take on some of key insights shared: 1. Holistic Approach: Digital health systems should not just focus on technological integration but need a holistic approach that includes understanding the interconnected parts of healthcare delivery (The game of Operation was the analogy used) 2. Communication and Engagement: Establishing strong communication channels that allow for continuous feedback between users and technology developers is crucial. This ensures that digital health solutions are aligned with actual on-ground needs and can adapt over time as those needs evolve. 3. Strategic Connections: Connecting all elements of the health system digitally means engaging in comprehensive mapping and planning, focusing on the patient and staff experience. This involves detailed journey mapping to identify pain points and areas for enhancement. 4. Prioritisation and Roadmapping: A prioritisation framework helps guide the development of digital health initiatives. This includes considering the impact, risks, and costs associated with different technologies, ensuring they align with long-term strategic goals. 5. Benchmarking and Adaptability: It’s important to benchmark digital health systems against existing best practices and explore ready-made solutions that can be adapted to specific contexts. This can accelerate implementation and integration into current workflows. 6. Outcome-focused: The framework emphasises the importance of outcome-based accountability systems. By focusing on tangible improvements in patient and staff outcomes, digital health systems can validate their effectiveness and fine-tune their approaches based on real-world data. 7. Cultural Adaptation: Change management is a critical component. The technology must be adaptable to the specific cultural context of the healthcare setting it is deployed in, which requires an adaptive problem-solving approach rather than a fixed technological solution. 8. Sustainability and Integration: Ensuring the digital health system is financially and resource-wise sustainable is vital. This involves aligning financial investments with strategic health outcomes and integrating new technologies seamlessly with existing systems to enhance their value. 9. Remembering the Core Mission: Ultimately, the success of digital health initiatives depends on their ability to enhance care delivery without overshadowing the human elements of healthcare. Technology serves as a tool to support healthcare professionals and improve patient outcomes, not as an end in itself. What are your views on this? #healthcareinnovated #digitalhealth

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How to to evaluate digital health technologies ? Excited to share insights from Imperial College London's latest white paper on using clinical simulation to evaluate digital health technologies (DHTs). The study introduces the SIROS framework, developed with international experts, to provide a structured approach for generating evidence on DHTs like Software as a Medical Device. This innovative method addresses the challenges of traditional evaluation processes, aiming to enhance regulatory approval and ensure high-quality patient care. A significant step towards proactive healthcare and robust digital health solutions. Great work by Prof Ara Darzi and Dr Dr Saira Ghafur and team. Download the whitepaper here: https://lnkd.in/eEN89jGe I talk about this topics in my #keynotes on the #digital transformation of healthcare. Also be aware our Healthskouts team curates the global database of certified health Apps. #digitalhealth #mhealth #healthtech #adoption #Software-as_medical-Device #SAMD #Apps #AI

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Gen AI x Digital twin- interesting read. The implications are phenomenal for the #healthcare industry also, (in addition to examples cited in the article) by enabling personalized data driven approaches to #patientcare.

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What's happening in healthtech IPOs? 👉🏼 20 digital health companies went public in 2021. 👉🏼 2 went public in 2022 (including Akili). 👉🏼 0 went public in 2023. 👉🏼 ??? in 2024. Three companies give us hope. Let's meet them and ask the question on everyone's mind: who's next? 1️⃣ Waystar just announced plans for a $1B IPO, potentially making it the biggest IPO so far this year. That's 45 million shares for $20-$23 each, valuing the company at nearly $4B on the high end. The company's mission is to simplify healthcare payments for their 30,000+ clients doing 5B+ annual transactions on the platform. It's a pretty diversified client base, considering their top 10 clients account for ~11% of total revenues. But what I find pretty striking is the fact that they process $1.2 TRILLION in gross claims volume spanning HALF of patients in the US. [1,2] 👥 Leadership: Matt Hawkins (CEO), Ric Sinclair (CBO), Steve Oreskovich (CFO), Missy Miller (CMO), Anthony Carrozzella (CGO), John Driscoll (Chairman of the Board) 2️⃣ Tempus AI is looking to go public later this year. The company provides data and analytics tools for precision medicine in areas like oncology (most data and revenue), radiology and cardiology. To date, their offerings have been used by ~95% of the largest public pharma companies and 7,000 physicians across hundreds of provider networks (65% of all academic medical centers in the US). What I find most mind-numbing is that Tempus now has more than 200 PETA-bytes of data in their cloud, which includes 900 million documents and 7.7 million clinical records used to train their multi-modal LLMs. "Between our sequencing and data collection efforts, we are connected in some way to more than 50% of all oncologists practicing in the United States." [3,4] 👥 Leadership: Eric Lefkofsky (CEO, Chairman), Ryan Fukushima (COO), Terron Bruner (CCO), Kate Sasser (CSO), Shane Colley (CTO), Jim Rogers (CFO) 3️⃣ BrightSpring went public back in January. It did not go to plan (shares fell 15%), but has since recovered. BrightSpring delivers complementary pharmacy and provider services to complex patients in lower-cost home and community settings. The company operates in 50 states, serving more than 400,000 patients daily through its approximately 10,000 clinical providers and pharmacists across 9,500 locations. "Our model focuses on delivering high-touch and coordinated services to medically complex clients and patients, which is a large, growing, and underserved population in the U.S. healthcare system." [5,6] 👥 Leadership: Jon Rousseau (CEO, Chairman), Jim Mattingly (CFO), Susan Sender (CCO), Charles Wardrip (CDIO) *** Will we see more digital health IPOs in 2024? Will biotech remain the brightest spot of them all? Let us know what you think! 👇🏼 -- Sources: [1] https://lnkd.in/erXf86YW [2] https://lnkd.in/eMCk7ARq [3] https://lnkd.in/eZaYR9bS [4] https://lnkd.in/ezXEgqdv [5] https://lnkd.in/eKvU6x94 [6] https://lnkd.in/e7E7Pp3t

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