FinNode USA - Business Models for Health IT
Mobile health is changing daily. It has unbleashed healtchare enabling care to be provided almost anywhere. In less than 6 months the boundaries between healthcare, consumer, ICT and mobile have become even more blurred. What is defined and what is not defined as a medical device is the center of conversations, innovation and regulations. There are over 9000 apps in the Apple Apps Store for healthcare alone. The lines between patient and doctor use are ill defined. Regulations and reimbursement are furthering changing the game impacting not only traditional healthcare and healthcare IT companies, but also ICT and consumer companies equally. Who wil be paid for what is a driving question that healthcare alone cannot answer.
Apps have become the standard and gaming is catching up rapidly. Social media is beginning to drive healthcare. This merger and mixing of industries means that new players need to learn new laws, regulation, channel development and even how to market their products to the right consmer actual use are all changing.
Social media is further confusing players. 35% of life science companies are committed to not using social media while 65% are still trying to figure it out. The barriers for adoption are widespread and increasing, equally confusing regulators, conusmers and providers. What social media can do, by law doctors cannot. The short term is calling for more interaction between life science, mobile, doctors, insurers, regulators so that the long term can be defined. Better products will be developed with the increases in scientific, technical, mobile and medical technologies and services.
Regardless, mobile health is creating new business models that unlock access to new players and technologies that support preventative, acute and chronic care. Three business models appear to have gained the most acceptance, but will they survive, change or become a standard? These models need to be fully understood and then applied to Finnish technology development so that new and existing Finnish mobile health companies may capture market share, use their resources more efficiently and end up developing technologiues, services and products that the market infrastructure will accept.
Becasue the US is driving gaming, mobile health and healthcare, it is now essential for all potential Finnish players to understand this and their respective ecosystems and business practives in order to survive. This cross industry study is essential to Finland's healthcare, social media, mobile and even gaming industries.
Goal and strategic compliance
The objective of this project is to begin to demystify mobile health so that new Finnish mobile health companies can become real market players. This study will identify, discuss and present the "winning" business models and what the market expects next. This study is the guide book to mobile health.
Technologies and companies fail for preventable reasons and these reasons need to be clearly defined and presented. No new medical or mobile device or technology can just appear and be adopted. There is process flow. This study will map the business model progression for mobile and health IT products and then use those models to begin to connect global market processes with Finnish health IT and mobile design. The output will be to redirect the Finnish HIT industry so that it becomes a market driven and benefit/solution oriented provider/player.
This objective of this study and its output is in compliance with the National innovation strategy and with the strategic objectives of FinNode partners, OSKEs, SHOKs etc. Individal companies, unversities, cities, regions will all benefit from the finding of this study. This study represents new, evolving and needed information and knowledge. This study is also supportative of the connected health focus of NIMAC.
Project manager(Finpro) Val Kratzman
Team: Maria Makela and Pekka Parnanen
SalWe and ICT SHOK.
The main task will be to identify, verify and outline the current busines models for HIT and begin to track changes, refinements and new models so that Finnish companies, researchers and universities can refocus their R&D and R&M efforts.
The market is crowded with devices, apps and services. Those that succeed are addressing a real market need in the correct context that the market wants. Finnish technological are sometimes more advanced than those in the US; however, they are typically developed in Finland without US market knowledge. Hence, Finnish companies' business modlestend to be incompatiable with the market. As the healthcare, mobile and IT industries continue to integrare and even morph into one another, it is not the technology that is defining the winner. It is the ability of the companies to compete based on recognizable and proven business models.
The first module in Gaselli is why business models fail. This research can become a new and focused Gaselli module, as well as an essentail coaching tool for all mobile, HIT, medical device, etc. players. How Business Models Drive (Mobile) Companies.
•interview key players across the mobile and health and health IT industries including users, adopters and healthcare providers
•current business models will be mapped, analyzed and made available to Finnish companiesefine the ecosystem as it is and as it is developing
•Identify currnent market associations and institutes that are dedicated to this mobile health and build alliances with them
•Seek to unravel the mystery of health/mobile business solutions.
March 2012- February 2013
•Clear outline of the leading business models for mobile health
•Identification of collaboration, business development and/or research partners between US and Finnish companies, researchers and univeristies
•Predictions and projections for mobile health
•Connection with NIMAC connected health focus
•Final workshop in Finland with US experts
Finnish mobile and Internet/Digital Media palyers. Very important for the National Innovation Strategy, Tekes (Media Activation/OHME, Mobile Consumer Applications, Digital Productization Process, Tempo), Finpro, VTT, Tivit (Next Media) and OSKEs related software and digital media, Finnish Mobile Association, Mobile Monday, Finnish Mobile Association, Teknologiateollisuus, Tekes, Kasvuvayla, Vigos, Finnish VCs (like FinnVera, Teollisuussijoitus, Conor, Vision+, Nexit Ventures etc) – and for all the companies in Finland related to mobile/digital media.
+1 203 767 9676