We cannot guarantee that the content will display correctly while using Internet Explorer. To have the best browsing experience, please upgrade to Microsoft Edge, Google Chrome or Safari.

June 24, 2022

Sprint: Virtual Care for Cardiovascular Diseases: Payment Models & Adoption

Events
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 payment models for delivering virtual care to cardiovascular patients. In this blog we’ve pulled out the top takeaways from this series. 

5 Key Recommendations: 

#1 What does and doesn’t work in a digital health and pharma partnership. Pharma is unlikely to support the design, operation, or everyday workflow of a digital health business. A company that is interested in partnering with pharma will need to approach pharma with a fully baked proposal and a complete solution offering. Pharma companies are less likely to ideate with a digital health company and co-develop a model. Though the pharma / digital health relationship often includes things like data sharing, patient access or strategic benefit, when approaching pharma the proposal and solution should first be thought through by the digital health company. 

#2 The business model follows the use case. Oftentimes companies need to explore or use multiple business models. Some possible approaches include direct to provider with or without reimbursement, direct to consumer, among others. A few examples are described below:

#3 Payers and employers typically have short timeframes for seeing results. Payers typically expect to see savings within 1-2 years, potentially up to 4 years. Savings over a long term 10+ year period are less interesting to payers. For employers, the expectation is that results will be seen in as early as 3 months to a year. Some cardiology outcomes are often seen after long term patient engagement, presenting a challenge for solutions looking to embark on payer or employer partnerships. Thoughtfully designed studies showing clinical utility and economic benefit in a meaningful time frame are essential to obtaining reimbursement and payment. Shorter-term KPIs, like atrial fibrillation control and normal sinus rhythm can be important milestones for these types of collaborators while working towards long term results. 

#4 Pharma is hoping for a new sales approach when it comes to digital health. It is a big lift to sell directly to hospitals or providers. Alternatively, partnerships with virtual care companies create the opportunity to integrate monitoring into their platforms and become almost a competitor to the traditional brick-and-mortar system. The platform can create a D2C market opportunity and acts as an aggregator that allows multiple solutions to plug and play. However, major proof of scale is still needed. While with a telehealth first approach, physicians are still part of the business model, these may not be the same physicians a patient sees in a brick-and-mortar setting and physicians may not be willing to give up patient ownership to a third party. A hybrid model will be needed to link brick-and-mortar in-person visits with virtual care in between appointments. It may be some time before cardiologists get on board with this model and we may be more likely to see this type of model grow first in primary care. 

#5 There needs to be a service within virtual care to sift through the data. Physicians are concerned about the burden of reviewing additional data and the liability that comes with it. Rather than a cardiologist reviewing large quantities of digital health data, a triage team, specialized nurse, virtual care provider, or potentially artificial intelligence (AI) should take the onus away from the cardiologist and summarize or escalate the most crucial information to the physician. The physician’s role can then focus on how to inform patient management and treatment with actionable insights vs. reviewing endless quantities of raw data. 

Experts included:  Aman Bhatti (SVP & Global Head, AliveCor), Ankita Deshpande (Head of Innovation Accelerator, Alexion), Ashutosh Malhotra (Digital Business Development & Innovation Scouting Manager Europe, Daiichi Sankyo Europe), Logan Smith (CEO, Hula), Mathieu Chaffard (Project Coordinator Digital Health Innovation, Roche Diagnostics), Patrick Keenan (Associate Director - Business & Commercial Development, Rx+ Commercial Group, Astellas Pharma), Stephen Egan (Director, Redicare), Tim Fonte (SVP Upstream Marketing, HeartFlow) and Meaghan Schedel (Senior Digital Health Consultant, HealthXL).

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

Want to join the conversation? Check out our website for upcoming meetings and events. 

Interested in more expert insights and takeaways? Become a member of our HealthXL Community for access to polls and summaries from all of our meetings. 

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

Ready to read more? HealthXL members can access the full peak of the report on the HealthXL Community Hub.

Not yet a member of HealthXL? Download your 11 page snapshot of the report.

Download your 11 page snapshot

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.

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

Masterclass: Key Considerations for Inclusion on the Evernorth Digital Health Formulary

13th December @ 10:45AM EDT

How do DTx products get listed on a formulary? And what happens next? Join this masterclass to hear from Mark Bini, the visionary who helped devise Evernorth's Digital Health Formulary.

Featuring
Mark Bini
Mark Bini
Chief Patient Experience Officer at Evernorth
Featuring
Mark Bini
Mark Bini
Chief Patient Experience Officer at Evernorth
Digital Therapeutics (DTx)
Digital Therapeutics (DTx)
Digital Therapeutics (DTx)
Digital Therapeutics (DTx)

Masterclass: Future EU Regulations for AI in Medical Devices

13th December @ 10AM GMT / 6PM AWST

Are you trying to commercialize AI-based digital health solutions in the European Union (EU)? Would you like to learn practical steps on how to navigate the EU regulations for AI in medical devices? Join us in this masterclass led by Erik Vollebregt (Partner at Axon Lawyers) to deep dive into this topic.

Featuring
Erik Vollebregt
Erik Vollebregt
Partner, Axon Lawyers
Featuring
Erik Vollebregt
Erik Vollebregt
Partner, Axon Lawyers
Digital Therapeutics (DTx)
Digital Therapeutics (DTx)
Digital Therapeutics (DTx)
Digital Therapeutics (DTx)

Innovative Distribution Strategies for DTx

14th December @ 10:45 AM EDT

Currently, there is no one-size-fits-all strategy for DTx distribution. Join HealthXL in this meeting to discuss this topic further with your peers working in this space.

Featuring
Francesca Wuttke
Francesca Wuttke
CEO and Founder, nen Health
Featuring
Francesca Wuttke
Francesca Wuttke
CEO and Founder, nen Health
Digital Therapeutics (DTx)
Digital Therapeutics (DTx)
Digital Therapeutics (DTx)
Digital Therapeutics (DTx)

Masterclass: DTx Access Negotiation and Contracting with Commercial Health Plans in the US

15th December @ 10:45 AM EDT

Are you seeking reimbursement of a DTx solution in the US? Join this Masterclass led by Mike Pace to deep dive into this topic with your peers working in this space.

Featuring
Michael Pace
Michael Pace
CEO & Founder at PalmHealth.co
Featuring
Michael Pace
Michael Pace
CEO & Founder at PalmHealth.co

Are you a HealthXL Member? See the Full Report Here

Non-HealthXL Member? You can purchase the report HERE

HealthXL Digital Health Meetings

Want to join the discussion now?

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.

Telemedicine & Virtual Care Delivery
12th December @ 10:45AM EDT

Masterclass: Partnering with Health Systems in Digital Health

Are you working in digital health and looking for successful partnerships with health systems? Join this meeting to deep dive into this topic with other senior leaders in this field.

Michael Freni
Featuring
Michael Freni
Vice President, Business Development, Innovation & Venture Partner, A.I. Digital Innovation Fund, Mass General Brigham
Digital Therapeutics (DTx)
13th December @ 10:45AM EDT

Masterclass: Key Considerations for Inclusion on the Evernorth Digital Health Formulary

How do DTx products get listed on a formulary? And what happens next? Join this masterclass to hear from Mark Bini, the visionary who helped devise Evernorth's Digital Health Formulary.

Mark Bini
Featuring
Mark Bini
Chief Patient Experience Officer at Evernorth
Digital Therapeutics (DTx)
13th December @ 10AM GMT / 6PM AWST

Masterclass: Future EU Regulations for AI in Medical Devices

Are you trying to commercialize AI-based digital health solutions in the European Union (EU)? Would you like to learn practical steps on how to navigate the EU regulations for AI in medical devices? Join us in this masterclass led by Erik Vollebregt (Partner at Axon Lawyers) to deep dive into this topic.

Erik Vollebregt
Featuring
Erik Vollebregt
Partner, Axon Lawyers
Digital Therapeutics (DTx)
14th December @ 10:45 AM EDT

Innovative Distribution Strategies for DTx

Currently, there is no one-size-fits-all strategy for DTx distribution. Join HealthXL in this meeting to discuss this topic further with your peers working in this space.

Francesca Wuttke
Featuring
Francesca Wuttke
CEO and Founder, nen Health

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

We cannot guarantee that the content will display correctly while using Internet Explorer. To have the best browsing experience, please upgrade to Microsoft Edge, Google Chrome or Safari.