HealthXN, Selling to Health Markets in Australia for Peak15 & StartupHealthtech

1marc.niemes@healthxn.com

“Many new health initiatives fail because they fail to address a problem that anyone really cares about…..and

even if they do, they completely underestimate how they will reach the

market and who will pay”

marc.niemes@healthxn.com@niemesm

• Introductions

• This will be a successful session if…..

• Key Health Stats

• Health ®evolutions

• Models for High Growth Ventures

• Value Selling to Health

Workshop Format

marc.niemes@healthxn.com

@niemesmExercise

Our Purpose

“To improve patient care and support the healthcare industry and its suppliers by assuring access to the right knowledge in the right place at the right time”….50% faster, 30% better.

Who we are:

Sector Credability

High Growth,

Scientific

Health & Private

Equity Knowledge

CTO, Dev

IP & Agreements

Impact Investing

and Philanthropy

Corporate Systems

and USA

????????

“What is missing from with the team?”

????????

What about you?

• I work with or my idea is…..

• The top three things I want to be able to walk out with today are……

http://padlet.com/marc14/ sellingtohealth

Hi my name is…..

@niemesm

• ~10% of Australian GDP (Is that the right level?

• ~15% of Workforce

• Workforce Decreasing, Demands increasing

• Time to competence ~7+ years (postgrad)

• Balance with “Unqualified Labour”

• Hospitals 80% same workload

• Allied Health

• Only Starting its Digital Journey

Some Key Health Statistics

@niemesm

“Money is on getting sick not on getting well, its not HealthCare its not Wellness, its SickCare” miniMD.net

Health Market EcoSystem

1. Interoperability, Like a Bank

2. Workflow Guide/Streamline Logistics, like Hong Kong Harbour

3. Health Knowledge Transfer & Aggregation,

4. Engagement, Personalised Healthcare & Biometrics

5. Predictive Health, Big Data

6. Leadership & Mentorship

5+1 Necessary Health (R)evolutions

@niemesm

1. What is the problem?

– Remember: People buy into Why you are doing it, not just how….

2. Who is impacted/will pay?

– Clinicians (Say yes or no but no $$$)

– Operations (Loose/Loose or Win/Win)

– Executives

3. Who/How will your team demonstrate this service?

4. Improving access to a service through better affordability/efficiency will trump an increase in clinical accuracy

Top 3+1 (contentious) Health Tech Start-up Tips

• Fact/Story

• Problem: To solve the problem of…..

• Benefit#1: To enable XXXXX

• Benefit#2: That also supports XXXX

• How: We achieve this by….

• Channel:

Hi my name is…..

@niemesm

“Excuse me for writing a long letter, I

didn't have time to write a short one.” (George Bernard Shaw).

• Dr Tom McKaskill, “Dr Exit”

Model for high growth Ventures

@niemesm

Model for high growth Ventures (14)

@niemesm

“Lets document your Ultimate Growth

Strategy Wheel of Success”

1. Right Place, Right Time– New product, new way, new time (Health Hack Example)

Growth Ventures: The Market

@niemesm

Exercise

@niemesm

2. The Compelling Need to Buy– The Health Problem you are solving and who is buying.

Exercise

@niemesm

3. The Right Customer– What is the “tight” definition of your customer

– Easily identified

– Easy to approach

– Willing and Able?

Exercise

@niemesm

4. Channels to Market– B2B, B2C, B2B2C

– Wholesale

– Retail/Direct

– Partners

– Willing and Able?

– Conflict/Margin

• Work out channel first before product dev

– Crowd Sourcing

• Regulatory Environment

Exercise

@niemesm

Growth Ventures: Realising the opportunity

@niemesm

5. Innovation as the driver– Create more value by reducing costs

– Enhancing customer Utility/Experience

Exercise

@niemesm

6. A competitive Advantage– Unlikely to be alone

– Dimensions of Utility, user experience

– Focal market

Exercise

@niemesm

7. Sustainability– More than an initial single advantage

– Whole supply chain

Exercise

@niemesm

8. Scalability– Easy Repetition

– Shortage of skilled labour?

– Knowledge codeafied

– What org structure

Exercise

@niemesm

Growth Ventures: Making it Work

@niemesm

9. A Clear Vision– What are you doing, where are you going

– Know what business you are not in.

• As a leader it is about the first follower….

Exercise

@niemesm

10. A long term strategy (what is the end/exit)– Set the objectives (realistic or unrealistic)

– You then see the limitations

– Investments can be made to overcome

• Acquire or be acquired

– Its about why they are buying you not why you are selling

Exercise

@niemesm

11. Robust margins– Burn Rate/Market Cap

– Loss Leader

– Profit or Growth? Mix.

– Freemium

Exercise

@niemesm

12. Management of Risk– ½ sales, 2*the costs

– Involve partners

– Things will go wrong, so allow for it.

Exercise

@niemesm

Growth Ventures: Turning the Wheel

@niemesm

13. A capable Management Team– Know what you are good and not good it

– Collective skills

– Entrepreneurial mix

– What is their sense of purpose and does it align to yours

– Close but not too close

Exercise

Growth Ventures: Turning the Wheel

@niemesm

14. Profitable– When and How

– What can we commercialise early

Exercise

• Start-ups often are “on a mission”

• Growth rates above 15% often require external investment

• Is the value your system or the customers “any” system could get

Growth Ventures: Some Points

@niemesm

Sales =

@niemesm

Trust Cost

• Sell to or buy from?

– You, Free, Sex, Money

• Frame of Reference

–Time

–Money

–Family

–Health

–Actualisation

Value Selling to Health

@niemesmExercise

• Fact/Story

• Problem: To solve the problem of…..

• Benefit#1: To enable XXXXX

• Benefit#2: That also supports XXXX

• How: We achieve this by….

• Channel:

Hi my name is…..

@niemesm

“The reasonable person adapts them

self to the world; the unreasonable

one persists in trying to adapt the

world to themselves. Therefore all

progress depends on the

unreasonable person.” (George Bernard Shaw).

HealthXN, Selling to Health Markets in Australia for Peak15 & StartupHealthtech

Healthcare

Transcript of HealthXN, Selling to Health Markets in Australia for Peak15 & StartupHealthtech

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