The Future of the Business of Health Care: Opportunity in Transformation
When it comes to health care investing, one thing is clear: investors are looking for ideas that will transform the consumer experience. Last week, corporate investment and venture capital experts discussed transforming health care through strategic investing during the "Future of the Business of Health Care: Opportunity in Transformation" panel at the Portland Business Journal's Health Care of the Future event.
- Yumin Choi, Director of HLM Venture Partners
- Aaron Martin, Managing Partner of Providence Ventures
- Rob Coppedge, President of Direct Health Solutions at Cambia
- Steven Hull, Partner of Stoel Rives
The panel shared their insights on the following topics:
What do you look for when making an investment?
Yumin Choi always asks the question, “Is this a problem for consumers?” Rob Coppedge echoed his sentiments, saying, “Cambia is focused on consumer-centric businesses. We're not investing in companies that patch a hole. We ask, is the company we're investing in going to change the game for the health care consumer?" Aaron Martin said he doesn’t invest in a start-up unless they will enable better delivery of care for people.
How does timing impact investment?
"It's important to invest far enough ahead of the adoption curve, but not too far,” Rob said. “We're investing 2-3 horizons out in consumer-centric health care companies that improve experience." Yumin agreed: “It's easy to find things to improve in health care, the question is, ‘What is the right timing?’"
How do you predict innovation will change health care?
Aaron explained, “The number one thing is innovation has to be top down driven." He also predicted a “digitally enabled population health.” Steven Hull looked far into the future, imagining that someday there may be “robot doctors in our homes using star Trek-like tricordes to diagnose and treat us.”
The group also agreed that health care was in need of, and is on the brink of transformation. "Even as a 'knowledgeable' health care person, it's daunting. We're all stakeholders in health care," Yumin urged. Rob also stressed that change is coming. “We are on the precipice of big, structural change. Most importantly, health care business is thinking about this transformation.”
Learn more about Health Care of the Future:
- The Battle for the Heart and Mind of the Health Care Consumer
- What Will Health Care Look Like in 50 Years?