360° Coverage : Crowdfunding Health Innovation: Disruptive Companies And Funders...

2 Updates
Crowdfunding Health Innovation: Disruptive Companies And Funders Meet To Change Health Delivery
Photo Credit: Forbes Business

Crowdfunding Health Innovation: Disruptive Companies And Funders Meet To Change Health Delivery

Feb 24 2014, 7:18am CST | by

Two of the most significant pieces of legislation in decades, the Patient Protection and Affordable Care Act (ACA) and the Jumpstart Our Business Startups (JOBS) Act, are poised to transform the...

Filed under: news

 
 
 

34 weeks ago

Crowdfunding Health Innovation: Disruptive Companies And Funders Meet To Change Health Delivery

Feb 24 2014, 7:18am CST | by

Two of the most significant pieces of legislation in decades, the Patient Protection and Affordable Care Act (ACA) and the Jumpstart Our Business Startups (JOBS) Act, are poised to transform the entire spectrum of health care. The ACA regulates everything from health insurance requirements to tax collection. The JOBS Act regulates businesses that fund their ventures online. In tandem, these two bills have created a new world for health care innovators and investors. Ironically though, it is the innovators and investors who are joining forces to do what the ACA is unable to do: reduce costs and increase access. At the 7th Annual OneMedForum last week in San Francisco more than 400 one-on-one investor meetings were conducted between venture capitalists and startup health care companies, all in the name of disruptive innovation.

The OneMedForum was held in unison with the JP Morgan Conference, aimed at bringing thought leaders, reformers and financiers together to change the delivery of health care. Change that is desperately needed based on Congressional Budget Office (CBO) estimates that federal spending for the major health care programs and Social Security would increase to a total of 14% of GDP by 2038, twice the 7% average of the past 40 years.

The creators of the programming believe that disruptive innovation is the key component to reshaping the future of health care. They have faith that raising capital online post-JOBS Act will flourish, and that crowdfunding and secondary markets is the fastest way to create smarter clinical trials, personalized medicine and allow private companies to go public.

According to conference organizer Brett Johnson’s opening remarks, “Health care is at a critical moment in the United States. Without dramatic changes, the costs of health care will bankrupt the US and consume the vast majority of our resources. Hope lies with innovation.”

OneMedPlace

At the helm of the OneMedForum is OneMedPlace, a company focused on partnering and facilitating meetings between investors and reformers, creating unique platforms for companies and producing OneMedTV live streaming shows and documentaries about health reform.

In-line with most conferences, there were post-event receptions for networking hosted by the likes of AdvaMed2014 and BDO, and panel discussion with experts discussing the ACA and specific topics related to health reform. However, unlike other conferences OneMedForum claims that their role is as a provider of platforms to showcase innovation, which directly rewards the entrepreneurs and investors as strategic discussions and introductions are begun.

“A characteristic unique to OneMedForum is the natural and scheduled opportunities for meaningful introductions and discussions,” says Chelli Miller, President and CEO of ChelliConnects. “OneMedPlace also has their thumb on regulatory and investment issues affecting startup companies, such as offering panels on the JOBS Act before anyone else.”

Another unique aspect of this year’s conference was the primary policy themes that were woven throughout the presentations and panels. Using the JOBS Act and the ACA as dual backbones of the 2.5 conference days, thought leaders such as William Hambrecht, Steve Burrill and Jason Hwang shared insight with the CEO’s of more than 85 biotechnology, life sciences, medical device and venture capitalism companies.

Specifically, financier William Hambrecht offered input and outlook for small company IPO’s, predicting that there is a large, untapped market and that the new changes to regulation could lead to a large increase in innovation. Steven Burrill in the other hand offered an exciting overview of health care delivery today and where it is going.

The Innovators Prescription

Panels also focused heavily on the theories of Clayton Christensen and Jason Hwang, MD from their 2009 book The Innovators Prescription. Dr. Hwang discussed the ACA and its impact on pioneering disruption, and further, what it means for investors and entrepreneurs. The book, which addresses what is fundamentally wrong with the US health care system, led many panelists to contend that the ACA does not actually address the fundamentals of reducing costs or increasing access.

“The American public has become dramatically more interested in health care access, quality and cost. We at OneMedPlace educate about the underlying issues in health care, the companies that offer solutions, and new investment opportunities arising because of the JOBS Act,” said Brett Johnson.

Using secondary markets and crowdfunding, many believe that modernization of funding sources can move the market much faster, and create new spaces of research with new business models.

“The OneMed Forum provides small-cap and private companies with a high-profile venue in the healthcare industry ‘s most prominent week in conjunction with the JP Morgan Healthcare Conference in San Francisco to tell our stories to the investment community. Bringing key stakeholders responsible for the proper functioning of the capital formation process is one of the most critical steps to improving the innovation cycle in healthcare system, and OneMedForum fills a key need in the space,” said Gerald E. Commissiong, President & CEO of Amarantus Bioscience, Inc./>/>

The OneMedForum group also contends that difficulties associated with reimbursement shortages from the ACA and budget cuts impact innovation and investment, proving that capturing liquidity and going public are keys to future entrepreneurial success in the health care field. Therefore, making those connections with financiers is what could determine who grows and who does not.

Collin Caneva, co-founder and CEO of GearFiveStudios reiterated just that point, saying, “It was important for my team and me to be present at the OneMedForum for a number of reasons, but the fact that it’s such an intimate conference setting stands out the most. It’s more than just meeting people and getting a business card; it’s truly an opportunity to build lasting relationships.”

It is ideas like these that bring people together in new forums for discussion and investment that do have the potential to support the next big thing. With one right connection, the financial support to make a startup idea possible could be the catalyst needed to drastically improve access and quality, or drive cost-effectiveness that lowers costs.

Source: Forbes Business

 
Update
2

7 weeks ago

Khazanah throws MAS RM6b lifeline

Aug 29 2014 5:01pm CDT | Source: Business Times Singapore

August 30, 2014 1:15 AMKHAZANAH Nasional will inject RM6 billion (SS$2.4 billion) over three years to resuscitate loss-making Malaysia Airlines (MAS) under a recovery plan that includes even an Act of Parliament. Other key moves are migrating its operations, assets and liabilities to a new company (NewCo) and slashing the workforce of 20,000 by 30 per cen ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
1

7 weeks ago

MAS posts loss of RM307m for Q2

Aug 28 2014 5:00pm CDT | Source: Business Times Singapore

August 29, 2014 1:13 AMMALAYSIA Airlines (MAS) registered a loss of RM307 million (S$122 million) for the second quarter to end-June, but warned of worse to come in the second half when the "full financial impact of the double tragedies of MH370 and M ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

Non-smokers face major health risks in smoking homes
London, Oct 21 (IANS) Living with smokers is as bad as living in smoke-free homes in heavily polluted cities such as Beijing or London, researchers said.
 
 
Finally Nepal, India sign power trade agreement
Kathmandu, Oct 21 (IANS) Nepal and India here Tuesday formally signed a landmark power trade agreement (PTA), allowing exchange of electricity, which is expected to open up new vistas of cooperation in the hydropower sector between the two energy-starved nations.
 
 
Depressed people, too, believe in brighter future
Toronto, Oct 21 (IANS) Like most adults, even depressed people believe in a brighter future, but for them this optimistic belief may not lead to better outcomes, found a research.
 
 
Indian-origin sisters develop tool to detect lung, heart disease
Washington, Oct 21 (IANS) Two Indian-origin high school students Ilina and Medha Krishen have developed screening tools to detect lung and heart disease using electronic stethoscopes.
 
 
 

Latest from the Network

1,074 new dengue cases in Chinese province
Beijing, Oct 18 (IANS) China's Guangdong province has reported 1,047 new cases of dengue fever, health authorities said Saturday. Six people have already died in Guangdong -- five in Guangzhou and one in adjacent...
Read more on Business Balla
 
Blake Lively 'always' wanted to be mum
Blake Lively has ''always'' wanted to be a mother. The 27-year-old actress is expecting her first child with husband Ryan Reynolds and she admits she's been dreaming of this moment since she was a youngster. Speaking...
Read more on Celebrity Balla
 
Kris Jenner 'torn apart' by Bruce's new relationship
Kris Jenner feels ''torn apart and angry'' that Bruce Jenner is dating her former assistant. The 58-year-old matriarch split from the 64-year-old Olympic gold medalist last October following 22-years of marriage but is...
Read more on Celebrity Balla
 
Cheryl Fernandez-Versini won't move to France
Cheryl Fernandez-Versini doesn't want to move to her husband's home country of France. The 'X Factor' judge, 31, who comes from Newcastle, is adamant she won't be relocating any time soon to suit her new spouse Jean-...
Read more on Celebrity Balla
 
Lance Bass sets wedding date
Lance Bass has set a date for his wedding. The former *NSYNC singer and his partner Michael Turchin, who have been dating for two-and-a-half years, are to tie the knot on December 20, 2014, a representative for the...
Read more on Celebrity Balla
 
Nepal avalanche toll reaches 39
Kathmandu, Oct 18 (IANS) At least 39 climbers died while hiking on a key Nepali route after it was hit by a major snowstorm and avalanches earlier this week, BBC reported Saturday citing officials. Over 350 stranded...
Read more on Politics Balla
 
Jake Gyllenhaal says society is complicit in 'nightcrawling'
Jake Gyllenhaal says almost everybody in society ought to relate to his new movie 'Nightcrawlers'. The eagerly-awaited film concerns those people who monitor police scanners and then race to crime scenes to film eye-...
Read more on Movie Balla
 
India eves look for first win in AFC U-16 qualifiers
Dhaka, Oct 18 (IANS) India will hope to register their first win of the 2015 Asian Football Confederation (AFC) Under-16 Women's Championship qualifiers when they take on hosts Bangladesh in a crucial encounter at the...
Read more on Sport Balla
 
Moyes mulling return to management
London, Oct 18 (IANS) Former Manchester United manager David Moyes said that he is ready to revive his managerial career six months after being sacked by the 'Red Devils'. "I am ready to return. I have enjoyed the...
Read more on Sport Balla
 
Ebola fears loom over Ghana hosting AFCON
Accra (Ghana), Oct 18 (IANS) The Ghana Medical Association (GMA) cautioned the government Saturday against hosting the 2015 African Cup of Nations (AFCON), despite a request by the Confederation of African Football (...
Read more on Sport Balla