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

10 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

 
 
 

22 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
10

7 weeks ago

RM47mil KWSG contributions still unclaimed

Jun 9 2014 7:54am CDT | Source: Business Times Malaysia

KUALA LUMPUR: About RM47 million of contributions in the Teachers Provident Fund (KWSG) still remain unclaimed, the Dewan ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
9

7 weeks ago

Gold shop lost almost RM1mil

Jun 9 2014 3:50am CDT | Source: Business Times Malaysia

KANGAR: A gold shop owner lost almost RM1 million after after the safe on in his shop was broken into by ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
8

7 weeks ago

Motion to debate MAS losses in Dewan Rakyat rejected

Jun 9 2014 3:39am CDT | Source: Business Times Malaysia

KUALA LUMPUR: AN emergency motion to debate the losses incurred by Malaysia Airlines last year, amounting to RM1.2 billion was rejecte ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
7

7 weeks ago

MH370 Tragedy: Hisham: RM27.6 mil spent on 1st phase of SAR

Jun 9 2014 2:11am CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia spent some RM27.6 million in its first phase of the search operations for missing Malaysia Airline flight MH370, said Acting Transport Minister, Datuk Seri Hishammuddin Huss ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
6

7 weeks ago

9.1m litres of diesel seized in a month

Jun 8 2014 1:11am CDT | Source: Business Times Malaysia

PUTRAJAYA: The Domestic Trade, Cooperatives, and Consumerism ministry has seized some 9.1 million litres of diesel and property worth RM58 million since mounting ‘Operasi Diesel Selatan’ in th ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
5

7 weeks ago

Girl, 9, awarded RM2.78m compensation for medical negligence

Jun 6 2014 4:56am CDT | Source: Business Times Malaysia

KUALA LUMPUR: A nine-year-old girl who suffered brain damage during her birth at a government hospital was awarded over RM2.78 million in com ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
4

7 weeks ago

Malaysia's total trade in April up 12pc

Jun 5 2014 11:52pm CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia's total trade in April 2014 rose by 12 per cent from a year ago to RM123.86 billion due to growing trading activities, International Trade and Industry Minister Datuk Seri Mustapa Moh ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
3

8 weeks ago

Works Ministry to spend RM20m for upgrading works at 50 accident black spots

Jun 4 2014 11:35pm CDT | Source: Business Times Malaysia

JOHOR BARU: The Works Ministry will implement upgrading works at 50 accident prone locations in the country that have been identified this year involving ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
2

8 weeks ago

Najib launches loan scheme for Ramadan traders

Jun 4 2014 10:24pm CDT | Source: Business Times Malaysia

PUTRAJAYA: Prime Minister Datuk Seri Najib Razak today launches RM45 million Ramadan Bazaar Schem ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
1

8 weeks ago

Residents bring up objection against Kidex to Suhakam

Jun 4 2014 4:49am CDT | Source: Business Times Malaysia

PETALING JAYA: A group of 20 Petaling Jaya residents held a meeting with the Human Rights Commission of Malaysia (Suhakam) over their objection against the proposed RM2.2 billion Kin ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 

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

Now SEPA to facilitate euro payments
Brussels, Aug 1 (IANS) The European Commission said Thursday that the Single Euro Payments Area (SEPA) would become fully operational in all euro zone countries from Aug 1, 2014 onwards.
 
 
Ebola outbreak: $100 mn response plan in West Africa
Geneva, Aug 1 (IANS) The director-general of the World Health Organisation (WHO) and presidents of West African countries hit by the Ebola virus outbreak will Friday meet in Guinea to launch a new $100 million response plan.
 
 
OPEC daily basket price closes lower
Vienna, July 31 (IANS) The basket of 12 crude oils of the Organization of Petroleum Exporting Countries (OPEC) stood at $105.21 a barrel Wednesday, against $105.44 Tuesday, according to the OPEC Secretariat.
 
 
Ebola outbreak not a global threat: Report
London, July 31 (IANS) The deadly Ebola virus does not pose a global threat, a latest report has claimed, adding that as long as the virus continues to infect people in Liberia, Guinea and Sierra Leone, there is small risk of more long-distance export of the disease.
 
 
 

Latest from the Network

Kelsey Grammer wants more kids
Los Angeles, Aug 1 (IANS) Actor Kelsey Grammer, who recently became father for the sixth time and is also a grandfather, is keen to expand his family even at the age of 69. His young wife Kayte gave birth to the...
Read more on Celebrity Balla
 
Eddie Cibrian has no 'ulterior motives'
Eddie Cibrian believes his new reality TV show will prove he is devoted to LeAnn Rimes. The 41-year-old actor, who tied the knot with the country singer in 2011 after their affair led to the breakdown of their first...
Read more on Celebrity Balla
 
Chad Kroeger buys 17-carat ring for Avril Lavigne
Chad Kroeger bought Avril Lavigne a lavish 17-carat diamond ring for their first wedding anniversary. The 'Here's to Never Growing Up' hitmaker, who married the Nickelback frontman, 39, at Château de La Napoule in the...
Read more on Celebrity Balla
 
Hilary Duff's separation has been 'very difficult'
Hilary Duff admits her split from husband Mike Comrie has been ''very difficult.'' The 'Chasing the Sun' hitmaker, who announced her separation from the former ice hockey player in January after three years of marriage...
Read more on Celebrity Balla
 
China accuses US over military reconnaissance
Beijing, Aug 1 (IANS) China Thursday accused the US of regular reconnaissance by naval ships and aircraft in Chinese waters and airspace. "Vessels and aircraft of the US military have for a long time carried out...
Read more on Politics Balla
 
UAE provides $544 mn for needy West Bank families
Dubai, Aug 1 (IANS) The United Arab Emirates (UAE) has provided two million Dirham (544 million dollars) in aid to more than 4,400 needy families in the West Bank during holy month of Ramadan. The aid was provided...
Read more on Politics Balla
 
Iggy Azalea to make film debut in 'Fast and Furious 7'
Los Angeles, Aug 1 (IANS) Singer-model Iggy Azalea is all set to make her acting debut. She will be seen in a cameo in the forthcoming movie "Fast and Furious 7", actor Vin Diesel has revealed. The 47 year-old actor...
Read more on Celebrity Balla
 
Kelly Osbourne sued by former landlord
Los Angeles, Aug 1 (IANS) Kelly Osbourne's former landlord has sued her by claimed that the singer caused damages worth $70,000 to his property after she let her dogs defecate all over the apartment. The "Fashion...
Read more on Celebrity Balla
 
Lana Del Rey says ex-boyfriend is 'unwell'
Lana Del Rey claims her ex-boyfriend Barrie-James O'Neill is ''unwell.'' The 'Summertime Sadness' hitmaker, who split from the Scottish musician in June after three years together, admits they were not a good match, as...
Read more on Celebrity Balla
 
Ryan Seacrest's pals concerned about his gilfriend
Ryan Seacrest's friends are allegedly worried his girlfriend might be a ''gold digger.'' The 'American Idol' host, 39, started dating 24-year-old fitness trainer Shayna Taylor last summer, but his close pals reportedly...
Read more on Celebrity Balla