FDA Approves Landmark Allergy Drug & More News

FDA Approves First Peanut Allergy Drug

Palforzia becomes the first FDA-approved medicine designed to lower the likelihood of severe allergic reactions to peanut products. Developed by California-based Aimmune Therapeutics, the oral immunotherapy can reduce life-threatening allergic reactions in children and is intended to be used in conjunction with strict peanut avoidance. An estimated 1.6mm children and teenagers in the United States have a peanut allergy. Even with mindful avoidance, unintentional exposure occurs. While the vote in favor of approving the drug was 7-2, the dissenting members of the FDA advisory voiced concerns regarding the drug’s efficacy and safety. 

Digital Platform for Musculoskeletal Pain Raises $90mm

Hinge Health, a digital health startup that targets musculoskeletal disorders (MSK), has raised $90mm in a Series C round. The company’s solution uses wearable sensors to track a person’s physical therapy progress, and connects them with health coaches through an app. The company aims to help users improve their chronic joint and back pain from the comfort of their homes. Hinge Health currently sells directly to employers and has already inked partnerships with retailers like Walgreens and health plans like Blue Cross and Blue Shield of Texas. The company plans to use the influx of funding to continue to scale the company. 

$600mm Humana Venture to Focus on Development of Senior Care Centers

Humana and private equity firm Welsh, Carson, Anderson & Stowe (WCAS) have partnered in a $600mm joint venture to develop senior-focused primary care centers for Medicare patients. WCAS’ General Partner cites a “significant, unmet need for value-based, senior-focused primary care” as a major reason for the venture. The development of the care centers will fall under Humana’s senior-focused care subsidiary, Partners in Primary Care, which currently has 47 centers across the United States. This new venture would effectively double the number of their clinics over the next three years and has  a special focus on developing senior care centers in underserved communities where access to quality care is limited.

Applications for GuideWell’s Scale Up Accelerator Closing Soon!

There are only a few days remaining to apply for GuideWell’s 2020 Accelerator: Aging in Place! The program is seeking innovative, easy-to-use solutions that enable seniors to improve overall physical and emotional wellness, connect seniors to their communities, and increase the affordability and accessibility of health care for seniors that are economically challenged or cared for by a working family member.

10 health technology companies or innovators will have the incredible opportunity to participate in an eight week accelerator program that consists of a two-day kickoff boot camp, followed by weekly mentoring sessions and a series of virtual workshops that focus on challenges in the health care industry (e.g. customer acquisition, regulatory compliance, etc.).The program begins January 23rd, 2020 and will culminate in a curated Investor Matchmaking Showcase at GuideWell’s Innovation Center in Orlando, FL., on March 9th, 2020.

Cohort Company Criteria:

Eligible companies must meet GuideWell’s minimum “Scale Up” requirements. A Scale Up is a growing technology startup that has clear traction in its chosen marketplace. Traction can be demonstrated by one or more of the following:

• A minimum of $500,000 in revenues

• $500,000 in seed capital raised

• Verifiable (reference required) customer pilots

• Accelerating product adoption (especially for consumer-focused solutions)

If you are an innovator with a next-generation solution, apply today! https://guidewellinnovation.com/guidewell-scale-up-accelerator/

Announcing GuideWell’s 2020 Scale Up Accelerator: Aging in Place

According to the U.S. Census Bureau, the number of American seniors will grow to over 71 million by 2030. To address critical problems that the growing elder population faces, GuideWell is hosting a health and wellness accelerator program for companies and innovators focused on senior care. GuideWell’s Scale Up Accelerator: Aging in Place is seeking solutions that provide affordable, accessible health care or holistic solutions for diverse aging populations.

10 companies will be selected to participate in an exciting eight week program that consists of a two-day kickoff boot camp, followed by weekly mentoring sessions and a series of virtual workshops that focus on challenges in the health care industry (e.g. customer acquisition, regulatory compliance, etc.).

Cohort Company Criteria:

Eligible companies must meet GuideWell’s minimum “Scale Up” requirements. A Scale Up is a growing technology startup that has clear traction in its chosen marketplace. Traction can be demonstrated by one or more of the following:

• A minimum of $500,000 in revenues

• $500,000 in seed capital raised

• Verifiable (reference required) customer pilots

• Accelerating product adoption (especially for consumer-focused solutions)

The program will run from January 23rd, 2019-March 9th, 2020, culminating in a curated Investor Matchmaking Showcase in Orlando, FL., where companies have the opportunity to showcase their innovative technologies to potential investors.

If you have a health technology that can enable seniors to “Age in Place,” apply today! The deadline to apply for this amazing opportunity is December 8th, 2019.

https://guidewellinnovation.com/guidewell-scale-up-accelerator

Digital Health’s Next Target: The Projected $225B Senior Care Market & More News

The RWJF Live Pitch Competition at the Health 2.0 Conference

The finalists of the Robert Wood Johnson Foundation’s Home & Community Based Care and Social Determinants of Health Challenges will be announced on Monday, August 26th! Three finalists from each challenge will compete in an exciting Live Pitch on September 16th, from 2:30-4:30pm, at this year’s Health 2.0 Conference in Santa Clara, CA.They will demo their technology in front of a captivated audience of health care professionals, investors, provider organizations, and members of the media. The first place winners will be featured on the Conference Main Stage, September 17th at 3:15pm. Winners will be awarded $40,000 for first place, $25,000 for second place, and $10,000 for third place.

Digital Health’s Next Target: The Projected $225B Senior Care Market

As seniors become an increasing portion of the United States’ population, their need for new care solutions grows. The Population Reference Bureau expects the senior population to double from 46 million in 2016 to a staggering 98 million by 2060. This threatens the sustainability of federally funded programs like Medicaid and Medicare, that support a majority of the health services for older adults in the United States. One of the biggest challenges that the senior population faces is an increasing shortage of home health aides and assisted living facilities. Digital health innovators have already begun developing solutions that increase the efficiency and personalization of senior care, such as voice-activated software, personalized health monitoring through a wearable or cellular device, and apps that allow seniors to easily access health care providers and physicians near them. With the AARP reporting that 21% of seniors will require additional care for chronic illness by 2050, there is a lucrative market for elder care that digital health innovators are urged to tap into.

The Cloud’s Impact on Health Care Providers

Physicians’ use of of cloud technology has seen an increase due to its capacity to maximize efficiency for activities such as medical research and data entry. Cloud technology provides physicians with the necessary support to streamline work through guided-decision making and supports interoperability between other systems, as well as physician networks. However, cloud technology and the consumer-facing apps it supports may be the cause of dissonance for some health care professionals. With care moving towards a 24/7 model, physicians are finding it difficult to discern when to “clock-out,” as well as where and when to set limits to the care they offer. Additionally, the influx of sophisticated tools may pressure new medical professionals to incorporate unneeded technology into their practice. To mitigate the frustrations that cloud technology may bring for physicians, Deloitte’s Chief Digital Officer for Health Care proposes a balanced model where physicians utilize cloud technology in areas of work that need to be streamlined, and bypass it in areas that are already optimized.