Thriving in the New Data-Driven Healthcare Market
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How can a smartwatch help patients with diabetes manage their disease? Why can’t patients find out prices for surgeries and other procedures before they happen? How can researchers speed up the decade-long process of drug development? How will "Precision Medicine" impact patient care outside of cancer? What can doctors, hospitals, and health systems do to ensure they are maximizing high-value care? How can healthcare entrepreneurs find success in this data-driven market?
A revolution is transforming the $10 trillion healthcare landscape, promising greater transparency, improved efficiency, and new ways of delivering care. This new landscape presents tremendous opportunity for those who are ready to embrace the data-driven reality. Having the right data and knowing how to use it will be the key to success in the healthcare market in the future. We are already starting to see the impacts in drug development, precision medicine, and how patients with rare diseases are diagnosed and treated. Startups are launched every week to fill an unmet need and address the current problems in the healthcare system. Digital devices and artificial intelligence are helping doctors do their jobs faster and with more accuracy.
MoneyBall Medicine: Thriving in the New Data-Driven Healthcare Market, which includes interviews with dozens of healthcare leaders, describes the business challenges and opportunities arising for those working in one of the most vibrant sectors of the world’s economy. Doctors, hospital administrators, health information technology directors, and entrepreneurs need to adapt to the changes effecting healthcare today in order to succeed in the new, cost-conscious and value-based environment of the future. The authors map out many of the changes taking place, describe how they are impacting everyone from patients to researchers to insurers, and outline some predictions for the healthcare industry in the years to come.
Table of Contents
Introduction: Welcome to the Age of Moneyball Medicine
Chapter 1: The $10 Trillion Healthcare Industry’s Moneyball Moment
Chapter 2: Precision Medicine: Data-Driven Diagnosis and Treatment
Chapter 3: Personally Tailored Cancer Treatment
Chapter 4: Baby Testing Boom: Genomics-Based Prenatal Diagnostics
Chapter 5: New Hope for People with Rare Diseases
Chapter 6: Price and Quality Transparency: The Dawn of Medical Shopping
Chapter 7: Value-Based Care: Paying for Results
Chapter 8: Data-Driven Drug Discovery and Development
Chapter 9: The Next-Generation Health System
Chapter 10: Digital Health: Moving from Sci-Fi Fantasy to a New Healthcare Reality
Conclusion: The Next-Generation Healthcare Landscape
Harry Glorikian is an influential global business expert with more than three decades of experience building successful ventures in North America, Europe, Asia and the rest of the world. Harry is well known for achievements in life sciences, healthcare, diagnostics, healthcare IT and the convergence of these areas. He is a sought-after speaker, frequently quoted in the media, and regularly asked to assess, influence, and be part of innovative concepts and trends. He holds four US patents in telecommunications, and has others pending.
He currently serves as General Partner at New Ventures Funds. Before joining New Ventures Funds, he served as an Entrepreneur In Residence to GE Ventures – New Business Creation Group. He currently serves on the board of GeneNews Ltd. (a molecular diagnostic company). He also serves on the advisory board of Evidation Health (a digital health startup launched with support from GE Ventures), and several other companies. He is also a co-founder and an advisory board member of DrawBridge Health (a revolutionary diagnostics startup launched with support from GE Ventures).
Previously he co-founded and held the position of managing director and head of consulting services for Scientia Advisors, a company that became the go-to provider of strategic advice and implementation services for next-generation healthcare and life science innovators and Global 25 market leaders. Scientia Advisors was acquired by Precision for Medicine in November of 2012. Among his other professional roles, Mr. Glorikian served as senior manager for global business development at PE Applied Biosystems, founded X-Cell Laboratories, managed global sales at Signet Laboratories and held various roles at BioGenex Laboratories.
Mr. Glorikian holds an MBA from Boston University and a bachelor's degree from San Francisco State University. Harry has addressed the National Institutes of Health, Molecular Medicine Tri-Conference, World Theranostics Congress and other audiences, worldwide. He has authored numerous articles for industry publications, appeared on CBS Evening News and been quoted regularly by Dow Jones, The Boston Globe, BioWorld Today, Los Angeles Times, London Independent, Medical Device Daily, Science Magazine, Genetic Engineering News and many other media outlets. He is also the Author of two books: Commercializing Novel IVD’s; A Comprehensive Manual for Success and MoneyBall Medicine: Thriving in the New Data-Driven Healthcare Market.
Malorye Allison Branca is an award-winning medical science writer, reporting on healthcare topics for more than 20 years. With a focus on new technologies, she tracks their impact on medical progress, from drug discovery to healthcare delivery.
Branca’s work has been published in Nature Biotechnology, Science, Harvard Magazine, Bio-ITWorld, Nature Reviews: Drug Discovery, and Pink Sheet: Pharma Intelligence. She has also helped craft editorials that have appeared in Xconomy, the Financial Times, and The Wall Street Journal. While at Bio-ITWorld, she won the Jessie H. Neal National Business Journalism Award and the ASBPE (American Society of Business Publication Editors) Gold prize.
Branca has collaborated on books, research articles, and opinion pieces with dozens of experts, including a Nobel Peace Laureate and several executives—such as the co-founder of a major medical device company, the chancellor of a medical school, a former VP of health benefits at Walmart, and the founder of a biotech investment fund. She has also produced materials for the international nonprofit groups Grameen Bank, Grameen Healthcare, and Grameen VidaSana.
"Moneyball Medicine discusses some of the remarkable innovations that are developing across the healthcare industry. Harry and Malorye provide readers with a front row seat to the most important emerging healthcare system challenges - and opportunities - of our time. We started Flatiron because we wanted to ensure that all cancer patients - not just those with the means and resources - have access to the same cutting-edge research. It is our hope that this book will stimulate discussions around the value of next generation technology in healthcare so that the industry can continue to innovate."
-Zach Weinberg, Co-founder, COO & President Flatiron Health
MoneyBall Medicine puts you at the center of healthcare’s new frontier where medicine, technology, information and business are converging and advancing with unprecedented speed and importance. The stakes could not be higher, and I recommend this book for anyone interested in learning more about this truly disruptive revolution in the ever-changing healthcare landscape
-Eric Schadt, PhD, Dean for Precision Medicine, Mount Sinai Health System Professor, Genetics and Genomic Sciences at Mount Sinai
The political turbulence focused on what comes next for Medicaid, Medicare, and the ACA (Obamacare) public exchange products simply reinforces the fundamentals of health care in the United States. Increased access, increased value, and better patient experience will be keys for all successful stakeholders.In Moneyball Medicine, Harry and Malorye describe the unique confluence of entrepreneurial innovation and the many entrenched and evolving health care components of the health care supply chain, and defines the parameters that predict who will win and who will lose.
-Glenn D. Steele, Jr., MD, PhD, Chairman of xG Health Solutions, Vice-Chair of Health Transformation Alliance, and past CEO of Geisinger Health System
Data, data everywhere. Well, historically it’s been everywhere but in healthcare, where our industry has been laggards in distributing, sharing, synthesizing, and analyzing data to make decisions for researchers, physicians, patients, and insurers. MoneyBall Medicine thoughtfully walks us through the change in healthcare which has already commenced. Data will finally take center stage, especially in cancer care.
-Mike Pellini, MD, MBA, Chairman and former Chief Executive Officer Foundation Medicine
The explosive force that's transforming healthcare is digital. Harry and Maloyre have aptly captured and described this tidal wave in a compelling compendium of examples and interviews. MoneyBall Medicine lays the foundation for understanding how new types of data will change the way we discover medicines, measure their impact, deploy, deliver and even replace them.
-Christine Lemke, Cofounder & President Evidation Health, Inc.
As a citizen scientist activist and the mom of children with a genetic condition, I welcome the effect on healthcare of meaningful data, carefully analyzed and appropriately utilized. Moneyball medicine artfully traverses the ever-evolving dynamic landscape and focuses in on the various levers and fulcrums that might make the difference, all the while keeping the consumer in the center.
-Sharon Terry, President and Chief Executive Officer Genetic Alliance
We face a perfect storm: A medical profession, reluctant to emerge from principles of apprenticeship and autonomous practice to evidence based approaches, still largely rewarded by volume based payments. And a healthcare industry, which has accumulated legacy structures never designed for efficiency and interoperability. The combination has resulted in an increasingly unaffordable US healthcare delivery system which covers only part of the populous and has outcomes at or below the level of other civilized countries. Expedient and systematic solutions are further impeded by privacy and safety concerns, which have resulted in well intended, but impractical legislation and heavy regulatory burden. Glorikian’s and Branca’s inspiring book highlights real (entrepreneurial) opportunity to use the power of multisource big data and emerging analytic approaches to get out of this misery and revolutionize the way healthcare is delivered to ever more data-conscious, engaged patients.
-Christoph Wald, M.D., Ph.D., M.B.A., F.A.C.R., Chairman, Department of Radiology & President of the Medical Staff, Lahey Hospital & Medical Center Professor of Radiology, Tufts University Medical School
Data has become a significant strategic resource in healthcare. Just as sports, financial services, retail and virtually all other industries have been shaped by data and analytics, so too will health care. Harry and Malorye have done an exceptional job of documenting and analyzing this remarkable transition in the largest and most complex sector in our economy – healthcare.
-John Glaser, PhD, Vice President, Population Health and Global Strategy Cerner Corp.
The pace of scientific development is proceeding unlike any other time in the history of healthcare. Precision Medicine is becoming a reality. MoneyBall Medicine provides a compelling overview of how new technologies, diagnostic tests and drugs are being introduced at record speed, and how these advancements and the resulting access to increasing amounts of patient-specific data are rapidly transforming the way healthcare can and will be delivered.
-Jennifer Levin Carter MD, MPH. Founder and Chief Medical Officer, N-of-One, Inc.
The future of healthcare is inevitably data driven. As our ability to collect, sort and analyze data improves, the predictability of what people need is enhanced. This will result in more precise medicine, with better customized and personalized treatment plans for our patients. This book is ahead of its time, bringing together concepts of new innovations aimed at improving healthcare delivery.
-Dr. Kathryn Teng, MD, MBA, Physician executive leader and Division chief at MetroHealth Medical Center
"The convergence of big data and AI is changing the paradigm for the entire healthcare sector - MoneyBall Medicine is a MUST-READ book for entrepreneurs hoping to make an impact in this complex ecosystem."
-Dekel Gelbman, MBA, Chief Executive Officer FDNA
If you want to understand the future of healthcare, you need to read MoneyBall Medicine. Paralleling the data-driven transformation of baseball, Harry Glorikian and Malorye Allison Branca delve into the data and analytic trends which are revolutionizing health care. As this book articulately describes, it's only through collecting, connecting and understanding data that we will arrive at a patient-centered health care system. Grounded in first-hand accounts, rich in detail, and accessible to practitioners and experts alike, MoneyBall Medicine is a great read and worthwhile investment.
-Robert Metcalf, MBA, Chief Executive Officer Concert Genetics
Harry and Malorye’s book provides a comprehensive look at how data is rapidly becoming the currency of modern medicine and how this is fueling a market comprised of a diverse set of technologies, approaches and business opportunities. Notably, of course, the goal must be to maximize the rate of exchange, from data to true clinical value. The book recognizes the diversity and lack of synchrony among the critical market factors that impact this exchange, i.e. payers, providers, patients (needs, expectations and hopes), physicians and pharma. By identifying and describing the concerns and priorities of this network, this book can serve as a solid base for advancing towards addressing an even bigger opportunity…that of the unstated and unmet clinical needs that we don’t currently even consider.
-Michael N. Liebman, PhD, Managing Director, IPQ Analytics, LLC Adj Professor of Pharmacology and Physiology, Drexel College of Medicine
The U.S. health care system is undergoing sweeping change with profound implications for all Americans, and the change is not waiting for Congress or the White House to determine its fate. Moneyball Medicine defines this pivotal time as we live it, showing how new expectations shape our health care, and how each of us as individuals will be changed by it too. I can’t think of a more compelling and important book for future historians, who will no doubt wonder how our health care system was so dramatically transformed in the early 21st century.
-Leah F. Binder, MA, MGA, President & CEO
"If the difference between evolution and revolution is the speed of change, then healthcare is now in the mode of revolutionary change," say authors Harry Glorikian and Malorye Allison Branca in MoneyBall Medicine: Thriving in the New Data-Driven Healthcare Market. Healthcare spending in the US today is simply unsustainable. In this book Glorikian and Branca reveal promising trends that will revolutionize healthcare. I believe their visions are spot on. If you want a glimpse into the future, read this book. It’s fascinating and very well documented.
-Tom Emerick, former VP or Global Benefits at Walmart, population health consultant, cofounder of EdisonHealth, and coauthor of Cracking Health Costs and An Illustrated Guide to Personal Health.
‘Moneyball Medicine’ takes the reader on a deliberately pragmatic insider’s journey of how raw, objective, hard data is already becoming the driver of better, more cost-effective medicinal decision-making in healthcare today. This book offers something for everyone– from the back-stories bringing observations to life, to the references for deeper-diving, it delivers. In short, if you ever wondered why "It’s the Economy, stupid" has become "It’s the Data, stupid", read MoneyBall Medicine.
-Susan Ward, PhD, Executive Director Collaborative Trajectory Analysis Project (cTAP)
After painting a bleak portrait of our current healthcare landscape – an inefficient, often ineffective and expensive system that’s stuck in the 20th Century--Harry and Malorye offer readers a remarkably insightful look at how data-driven healthcare and drug development will offer patients customized, effective, and more cost-efficient solutions in the near future. In other words, these new data-driven model will empower patients to take a more active role in their healthcare decisions. Moneyball Medicine is required reading for anyone interested in the evolution of medicine, healthcare practice and data analytics.
-Niven R. Narain, Co-Founder, President and CEO Berg Health
We are all now living in a world of data driven medicine. Moneyball Medicine is a really important source for navigating in this new world.
-Royalty Pharma - Co-Founder and Chairman of the Investment Committee, Locus Analytics – CEO, Syntax - CEO