Now that the 2015 HIMSS conference in Chicago has wrapped up, I will try to summarize the trends I observed and how Concrete Interactive fits in. It is clear that secure text messaging is a much-needed feature in healthcare. There are at least 2 established companies vehemently pursuing it: TigerText Imprivata (via their Coretext feature), and several startups presenting at HIMSS: Diagnotes, MyCareText, Cotap.
As we know TigerText just closed a $21M VC round. They claim to have 300 enterprise customers mostly in healthcare, including 4 of the largest for-profit hospital chains.
What isn’t clear to me is whether secure messaging is a separate app, or really a feature to be used with EHR (Electronic Health Record) apps that health companies already have. So for example, Imprivata’s CoreText is really positioned more as a feature of their larger system.
However, as a separate app, secure texting following the BYOD (bring your own device) (yes, this is literally the way they talk about it), is a very attractive feature that many people want, and could provide a solid scenario for deeper involvement or integration at a custom development level.
Another clear area of expansion is in medical device connectivity. For example, Qualcomm Life bought Healthy Circles, a deal supposedly in the $375M range. It is an iPhone app for continuous care. The patient goes home and plugs in a local bluetooth/3g router into a wall outlet. All the continuous care devices (Class 2 FDA approved medical devices) such as blood pressure monitoring, step counting, pulse, temp, glucose monitoring, even home ventilators and other Class 3 (high risk) devices.
The physician gets a portal. The patient can view and augment the data on the iPhone, though the app isn’t even required. This pattern is repeated over and over by other companies: device, connectivity, app, cloud-based portal.
The industry is only just awakening to the fact that data science will play a big role. Channels of information such as medical devices and apps are beginning to provide the big data they will use. I did make a nice connection at Wolters Kluwer. They are already doing rule-based processing to de-dupe health data. So if a doctor writes COD, they expand that to codeine. But they want to improve their systems via natural language processing (NLP).
I also met with Piers Nash from the University of Chicago at a Genomics SIG. He’s working with NCI and already has 6 Petabytes (PB) of genomic data from >10,000 patients online and available to the public (after a straightforward application process). He’s looking to host algorithms next and run compute cycles from virtual machines (PAAS type like AWS). One basic problem they are trying to improve is referred to as Single Nucleotide Variation calling (SNV calling). The problem is that each person’s DNA is slightly different, because we are different people. The trick is to identify which nucleotide (DNA letters) are different because of normal genetic variation between people, vs. mutations that cause cancer. One interesting aspect of this problem is that as algorithms improve, past recommendations may become invalid. And there may be a liability aspect at work. Samsung genomics was also in attendance at this meeting. They are launching an initiative to sequence tumors and make recommendations, but it’s similar to others already out there, such as Paradigm.
Also at the genomics meeting was Michael Hultner, the Chief Scientist for Lockheed Martin’s health and life sciences division. They are bidding as are many others for the UK’s 100,000 genomes project. He says their expertise lies in the integration of many technologies and thinks they are well positioned in the health space (not just outer space). So it’s fascinating to see the kinds of companies entering or expanding in this market.
Big Picture Strategy
The healthcare IT space is rapidly expanding as healthcare laws such as Meaningful Use Stage II come into effect increase incentives to leverage advances in the technology. There are many land grabs playing out. Any space worth entering will have competition, but based on my assessment of the overall quality in the space, I believe Concrete Interactive is well positioned to innovate, and stand up great apps against much larger players than ourselves.