Virtual Medicine And the Role of Entrepreneurs

Presented to The Entrepreneurs Breakfast Forum April 21, 2016

What is an Entrepreneur? Today’s Agenda What is Virtual Medicine and why should an entrepreneur care? Who are the players and where are the success stories? Where are the opportunities for budding entrepreneurs? Image source:

What is Virtual Medicine? aka Telemedicine, Telehealth, mHealth, Connected Care Virtual Medicine is the use of telecommunications and information technologies to provide clinical healthcare at a distance.

What is the Equation for Success? Market Need + Clinical Expertise + Technology Platform + Startup Support + Timing = Opportunity for Virtual Medicine Entrepreneur Image source:

Perfect Timing For Virtual Medicine… Rising Cost of Care and lack of specialty physicians in selected geographies Affordable Care Act created 10 million additional insured individuals Reimbursement 29 states mandate insurance coverage for telemedicine Technology Advances ubiquitous mobile technology, cloud computing, bandwidth Image source:

…and the Market is Projected to Grow Significantly Worldwide revenue for virtual medicine is expected to swell to $4.5 billion in 2018, up from $440.6 million in The number of patients using virtual medicine services will rise to 7 million in 2018, up from less than 350,000 in 2013.

While Big Name Companies Have Become Involved...

Each has raised over $50 Million in Venture Capital …Virtual Medicine is Still a Great Opportunity for Entrepreneurs

Entrepreneurial Virtual Medicine Companies Teleradiology Other Platform Companies Provider Companies Telepsychology

Each Industry Segment has its own cycle…. Platform Companies Telepsychology Provider Companies Teleradiology

…Individual Companies set their own pace Disclosure: HEALTHePRACTICES has a commercial relationship with these companies.

Dayhawk, not Nighthawk Largest provider of Radiology Services to Urgent Care centers Entirely virtual company Reading 3000 exams per day Lessons learned from teleradiology appropriate across the industry

Patient / Peer Video Consultations Simple, reliable HD video consulting HIPAA compliant, multi party, one-click launch Share screens, medical images, reports Remote Patient Monitoring Connect to Over 40 Blue Tooth devices Includes consumer and proprietary clinical devices Online MedVideo Library For patient and staff education Stores video, slides, photos, documents

First Telemedicine service targeting LGBT population The Telehealth Platform For Medical Professionals HIPAA Compliant, E-Consultations, Patient Scheduling, Remote Patient Monitoring & much more…

What is the Potential Exit Strategy for Virtual Medicine Entrepreneurs? for Virtual Medicine Entrepreneurs? CEO sees telemedicine opportunity with $2B Oculus acquisition How Google Glass Will Transform Healthcare New Kardia™ Band for Apple Watch Delivers Medical-grade Electrocardiogram (EKG) Anytime, Anywhere

What’s the Next Big Thing in Virtual Medicine ? Wearables Big Data/ Population Health Management Deep Learning/ Machine Learning

For Additional Information Howard Reis, President HEALTHePRACTICES