The american medical The association now has a Silicon Valley address, down the block from Pinterest and Zynga. It also has a new digital identity.
The storied Midwestern stronghold of traditional medicine has not left its Chicago headquarters or its conservative style. But the AMA is attempting to move aggressively into the digital age, placing $ 15 million in bets on a for-profit company called Health2047, officials announced during the firm’s formal launch at the JP Morgan Healthcare Conference in San Francisco .
Health2047 is located in the Soomo District of San Francisco, a gifted neighborhood connected with talent-rich Internet companies. The firm reflects the desire of the AMA to play an active role in remodeling the health care system to push, such as by pushing market forces. Take advantage of new technology, Reduce costs, improve quality, Promote transparency And increasing accountability for care outcomes.
These pressures are inevitable, from doctors’ offices to retail clinics to operating suites, with AMA CEO and Health 2047 President Dr. Says James Madara. Challenge: “How do we make practitioners’ practices sustainable in this new environment?”
Health2047 seeks to combine AMA’s medical expertise with Silicon Valley technology and business to develop solutions to problems that are “a burden on physicians and separated from patient care”.
According to the knowledge of the business, the Chief Executive Officer, Dr. Dougal seeks a scientist-scientist-entrepreneur with extensive expertise in health care, venture capital and drug development. His resume includes Waveldi Biosciences, Inc., a biotech firm that re-employs the flu vaccine. He has also played roles in traditional pharmaceutical companies, public health and educational medicine.
Given that doctors’ insights should play an important role in the development of health care. “You say that about the $ 3 trillion-plus health marketplace, with less than a million practicing physicians – think about the benefits they have”. “We need to leverage and unlock the AMA’s insights, and do so through partnerships with major business enterprises that are not able to enter healthcare for one or another reason.”
Jack Stockert Health settled in 2047’s new office location. He leads Health2047’s business strategy team.Courtesy Health2047
Given that the firm’s San Francisco headquarters are described as “Innovation Studios”, where a team of 15 is exploring opportunities and discussing with potential partners. Eventually, he employs about 60 employees. Health is the best analogy for a 2047 game plan that, he says, could be the MIT Media Lab, where academics, innovators and industry scientists partnered with e-readers to develop technology used in scores of products is. Auto Air Bag for Wireless Network.
The MIT Lab serves as an extension of its educational setting. Health2047 will draw its inspiration from insights from critical health issues analysis, from corporate partners and AMA members to family practitioners to leading academics in every field of medicine – including the AMA’s Madra, former dean of Chicago’s Pritzker School of Medicine .
“We will supply content expertise – scientific, medical, health policy and practical specialty knowledge that can impact healthcare and medical practices on a large scale,” he says.
The firm will have three business tracks:
- Enabling established corporations to better participate in the health care economy to shape their products and services.
- Working with venture-capital backed pharmaceutical companies and others to develop the tools necessary to enter and compete in the health care market.
- Develop novel products and services that fit a recognized need.
Areas that offer the greatest opportunities for innovation are medical education, chronic care; Value-based health care and payment; Associated health solutions; And networking technology for physicians, providers, payers and patients. The creation of a seamless network is particularly attractive, saying this. “It’s a mystery to me why it doesn’t exist, why physicians aren’t using it in their practice.”
“The AMA’s diverse membership represents a resource for the cultivation of ideas, beta-testing products, and the use of people with access to the market,” he says. “AMA has an amazing channel for physicians. When we launch these products, we want practitioners to accelerate the adoption of channel solutions. ”
Thinking is its appeal, but some researchers believe that the greatest opportunities for innovation occur on a small scale. Chris Trimble, a researcher at Dartmouth College, says, “What concerns me about innovation in health care these days is the attention to far-reaching and disruptive ideas at the cost of small bets.” Tuck School of Business and “How Physicians Can Fix Health Care: One Innovation at a Time.”
“We are spending too much time on home-run haters in the world. We need to spend more time with those who crank out base hits at a higher average. There are tons of them around, but we’re not seeing them – they’re doing a better job of coordinating care, keeping patients with chronic disease healthy, standardizing medical procedures and making better decisions. We can make more progress on a smaller scale, with higher success rates than these successful solutions, which we do not yet even realize the potential of. ”