HLTH Conference: Takeaways on AI, Big Data and Partnerships in Digital Health
Matt Cook, Senior Director, Commercial Strategy & Business
The second annual HLTH conference just wrapped up in Las Vegas, and it was a whirlwind of a conference covering almost every aspect of the healthcare industry. At the event, I had the chance to sit on two panels with some of my esteemed colleagues from across the industry.
During the first panel, "The Influence of AI and Big Data Disruption," I spoke with fellow industry leaders, David Keene, Chief Technology Officer of Dthera Sciences; Veera Anatha, Chief Technology Officer and President at The Learning Corp; Vijay Ravindran, Co-founder and CEO of Floreo; and Brandan Shanahan, Executive Vice President and Chief Financial Officer at Cedar Gate Technologies to discuss how their companies are using AI and big data to disrupt care models and achieve better outcomes.
As an early adopter of the "outcomes-based" pricing model, Omada's revenues are dependent on achieving results. For this reason, big data plays a central role at Omada, from how we work with clients to how we deliver the most effective, best-timed interventions to our participants. Because we need to focus on sustainable behavior change, we dive even deeper into the data. The type of data that is the most meaningful moving forward is the 'in-between' data -- what happens between actual healthcare visits when a patient is at home in their regular daily lives, which is where artificial intelligence (AI) enters the picture.
While on the panel, I shared how our best-in-class proprietary coaching platform gives our coaches unprecedented levels of insight into our participants' behaviors. Our platform converts data collected into actionable information that our professional health coaches can use to provide better care. For participants, Omada is better able to understand the whole person and deliver smart, personalized care through our professional health coaches at impactful moments. The platform helps us run high-throughput micro-experiments on behavior change to find the right intervention for the correct participant at the right time. AI is changing the healthcare industry for the better. Not only is it allowing us to make sense of the vast amounts of data we have access to, but more importantly, it's empowering our team of coaches to create actionable, personalized plans for our participants.
The second panel I joined, "Opportunities for Partnership Across the Digital Continuum," focused on the importance of creating synergistic partnerships across the healthcare ecosystem. At Omada, we are always looking for ways to increase adoption and engagement among participants, and partnerships are incredibly effective in this regard. For example, we just announced a partnership with Abbott to integrate their FreeStyle Libre system, a continuous glucose monitoring (CGM) technology, with Omada Health's pioneering digital care program, aiming to create a new paradigm for people with Type 2 diabetes.
Panelists including Jenn Cressman, Chief Revenue Officer of Welldoc; Romi Littman and Lion Ben Shettrit, Business Development Managers of Biobeat; Balaki Gopalan, CEO and co-founder of Medstack, discussed the hurdles and opportunities in working with big pharma in developing integrated therapeutics; the pros and cons of joint ventures and licensing versus acquisition and how to leverage partnerships to compete with large technology companies that are offering new opportunities for smaller digital health companies.