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January 14, 2022

Sprint: Best Routes to Market for DTx in the US

Commentary
HealthXL Team & HealthXL Community
&

The HealthXL Sprint 2-part meeting series connects senior leaders across our community to solve the latest health challenges. In our most recent sprint we discussed the best routes to market for DTx products in the US with a focus on payer, employer, D2C and pharma routes. In this blog we’ve pulled out the top 5 takeaways from this series. 


Experts included:  Brendan Staunton (Co-Founder and CEO at Amara Therapeutics), Eugene Borukhovich (Co-Founder & COO at YourCoach.Health), Hannes Klöpper (CEO at HelloBetter), Ivan Jurisic (Business Analyst for DTx at Roche), Kathleen Wright (Founder at Second Brain Healthcare), Kyloon Chuah (Co-Founder & CEO at Veriteos), Marina Simonian (VP, Product Management at ChronWell), Stephen Egan (Director at RediCare), Vasyl Pyrozhyk (Healthcare Banking at Sumitomo Mitsui Banking Corporation)


*All opinions are participants’ own and do not reflect the stance of their respective employers.



5 Key Recommendations: 


Decisions on DTx market strategy need to be made early on. Many existing players in the market have used a trial and error approach or have consciously chosen to generate revenue in one area while eyeing another in the long term. While this approach can be successful, changing your market strategy may also have an impact on brand perception. Starting D2C creates the benefit of collecting RWE and generating revenue, however the ability to make treatment claims is important to product development and brand perception. Re-engineering a digital health solution into a DTx can also be challenging and lead to questions of who you are as a company and what you actually do.   


Define product-market fit fast. Early interactions around your product can help gather feedback and gauge customer interest in the solution. The ability to iterate fast and develop a solution can be critical to a company's USP. The pace of pharma may not be compatible with fast iteration. 


Design your organization to your aspirations and be wary of partnering with pharma too early. Pharma companies will be looking for solutions that fit into their models and marketing strategies. Partnering with pharma too early may lead you to architect your solution into what pharma wants, but this may be a deviation from the true potential or value of your solution. 


Consider the halo of the FDA effect. While having clinical evidence up front can help to convince providers and payers, it’s also needed for the FDA stamp of approval. But is this expensive check-box really needed to be successful? Solutions that opt for RWE over trials plan to use this evidence to demonstrate clinical and financial value to payers. 


To partner with employers, find employees that fit your target population. Employers look for solutions that would benefit the greatest number of their employees. Niche products that may only be relevant for a few employees aren’t as likely to be successful via this route. Medium and small employers are often highly regional and prefer local solutions. 



Future Gazing: 


Insurance Companies and PBMs (Pharmacy Benefit Managers) are well positioned to be at the center of this ecosystem. PBMs have distribution power and can train pharmacists to counsel the end user. Evernorth is an example of this and there is a trend of companies being vertically integrated. In the future insurance companies and PBMs may begin to position themselves as providers. 


We can provide an introduction on your behalf so that you can contact them directly with any questions/queries on this topic. Simply click on the link below to request an introduction.

We can provide an introduction on your behalf so that you can contact them directly with any questions/queries on this topic. Simply click on the link below to request an introduction.

Request an Introduction

We can provide an introduction on your behalf so that you can contact them directly with any questions/queries on this topic. Simply click on the link below to request an introduction.

Request an Introduction

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Connect with peers and share insights

Don't miss out on the discussion of the latest insights and reports on digital health. Meet with peers and take a deep dive for 75 minutes. Unlike at webinars, you can freely exchange experiences and insights to solve challenges and design the future of DTx.

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Are you a DTx or Pharma company seeking wide-spread reimbursement of a DTx product in the US? Join this Masterclass led by Mike Pace to learn more about this topic and share your experiences with others working in this space.

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CEO & Founder at PalmHealth.co
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David Matthews, PhD
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CCO, BrightInsight
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CCO, BrightInsight
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CEO, Bold Health
Rick Bartels
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CEO, Bold Health
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Managing Partner , DTxCC
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17th August @ 10:45AM EDT

Digital Therapeutics (DTx) vendors face many challenges on their journey to commercialization, such as generating clinical data, health economics evidence and achieving regulatory status. Join this meeting to discuss this topic further and share your experiences with others working in this space.

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CEO, Bold Health
Kevin Darcy
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CEO, Bold Health
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Director, Link Strategy at Veeva Systems

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Join our Digital Health Meetings and take a deep dive for 75 minutes into topics like digital therapeutics, patient support, telehealth, clinical trials, dermatology and many more. These Meetings are not regular webinars: No audience, no recording and no hiding behind a screen. You actively participate in a discussion to solve your present challenges and design the future of digital health. And with a free account on our Community Hub, you stay connected and up-to-date on the latest news and insights, allowing you to fully immerse yourself in the topic before, during and after.

Digital Therapeutics (DTx)
Digital Therapeutics (DTx)
Digital Therapeutics (DTx)
Digital Therapeutics (DTx)

Masterclass: DTx Reimbursement in the US - PBMs as Coverage Scale Catalysts

10th August @ 10:45AM EDT

Are you a DTx or Pharma company seeking wide-spread reimbursement of a DTx product in the US? Join this Masterclass led by Mike Pace to learn more about this topic and share your experiences with others working in this space.

Featuring
Michael Pace
Michael Pace
CEO & Founder at PalmHealth.co
Featuring
Michael Pace
Michael Pace
CEO & Founder at PalmHealth.co
Digital Therapeutics (DTx)
Digital Therapeutics (DTx)
Digital Therapeutics (DTx)
Digital Therapeutics (DTx)

Masterclass: Value, Cost and Pricing in Regulated Digital Health Solutions

11th August @ 10:45AM EDT

Digital Health solutions are top of mind for biopharma companies in 2022, and Software as Medical Device (SaMD) is a crucial cornerstone for top-tier companies. Join this Masterclass led by BrightInsight to dive deeper into this topic and discuss this further with your peers working in this space.

Featuring
David Matthews, PhD
David Matthews, PhD
CCO, BrightInsight
Featuring
David Matthews, PhD
David Matthews, PhD
CCO, BrightInsight

Executive 1-2-1 with the HealthXL Digital Health Community

15th August @11AM EDT

Do you want to network with other innovators and leaders in digital health? Are you looking to identify potential partners? Join us for the new HealthXL style of virtual speed networking and meet other members working in this space!

Featuring
Aahuti Rai
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Strategic Advisor, Healthcare Innovation at Four Points Consulting Ltd
Chris Wasden
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Aahuti Rai
Aahuti Rai
Strategic Advisor, Healthcare Innovation at Four Points Consulting Ltd
Chris Wasden
Chris Wasden
Head of Pharma Speciality Solutions & Corporate Strategy, Twill
Digital Therapeutics (DTx)
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Sustainable Business Models for DTx

16th August @ 10:45AM EDT

It is one of the key questions that every digital therapeutic (DTx) company must answer - what business model will set them up for success in the long run? Join this meeting to discuss this further and share your experiences with your peers working in this space.

Featuring
Elena Mustatea
Elena Mustatea
CEO, Bold Health
Rick Bartels
Rick Bartels
Managing Partner , DTxCC
Featuring
Elena Mustatea
Elena Mustatea
CEO, Bold Health
Rick Bartels
Rick Bartels
Managing Partner , DTxCC

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