Innovation In Healthcare London Pop-Up Recap

Bridging the gap between ideation and implementation

Organized by Ogilvy Consulting, the Mount Sinai Health System’s Co-Lab, humble ventures, and Queen Mary University of London, the Open Innovation in Healthcare Pop-Up convened more than 85 practitioners from across the healthcare ecosystem to discuss overcoming key challenges to making innovation work. Moderated by Ritesh Patel, Chief Digital Officer for Health & Wellness at Ogilvy, the pop-up began with opening remarks from Queen Mary’s Jo Martin, who spoke to QMUL’s strong commitment to innovation across disciplines. Ajit Verghese from humble ventures then introduced Mount Sinai Co-Lab’s Eric Kostegan, whose remarks set an overarching theme of collaboration that would permeate the afternoon.

“We owe it to ourselves and the world to figure out how to harness the innovation that is happening in our deeply complex ecosystems, amongst a sea of data. Mount Sinai, through our Co-Lab, is committed to forging partnerships with academia and industry to source and scale healthcare innovation, and our Pop-Ups provide environments ripe for collaboration.” — Mount Sinai Health System Co-Lab’s Eric Kostegan.

The subsequent panels, as well as a curated startup showcase, were rich with expert opinions providing for dynamic and compelling conversation around a host of topics. The following are top quotes and takeaways from each panel concluding with a photo gallery from the day’s event:

Commercializing Healthtech In US

• If we monitor in real time and be predictive then we can manage better outcomes.
• Keep care out of the hospitals and in the community.
• The future is in identifying the right intervention for the right patient at the right time.
• With regard to machine interaction, how we approach different socioeconomic and generational groups matters.

• Start by defining the problem and what matters to the patient. Where are our gaps and then go to the market.
• Love the problem, not the solution.

Funding Health Innovation

• If you’re an early stage venture, funding has never been better than it is now.

“With the dramatically lower costs in sequencing, processor power and of course machine learning, we now have a new breed of entrepreneur that in the past could have only remained as academics. This can create risk, but also a really exciting opportunity for investing in healthcare.” — Parker Moss , Entrepreneur in Residence at FPrime Capital, Fidelity

• Higher digital maturity, plus a more permissive regime for hospitals working with private sector partners, makes it easier for American startups to achieve network effects than those in the UK.
• We are seeing a convergence between biology, chemistry, physics and information sciences — and this trend will continue

Impact of Machines On Healthcare

• AI, at the moment, is one big box and might not be enough in itself. AI plus judgment is critical.
• You’ve got to amend not just the product but also the regulatory pathway and the market itself. Don’t get too focused on what everyone is talking about now. You’ve got to focus on bringing the market with you while you’re developing your product.

Accelerating uptake of high-impact innovations for patient, population and NHS staff

• How do you drive uptake of a product? What can we do as members of large clinical organizations to help drive adoption?
• Anything that you can do to validate that your model and use-cases are valid and attracting customers is crucial.
• How do you shift the cost of care by changing who, or what is providing the care?
• Using AI to look at nutrition and other potential determinants of disease.
• There’s a lot of concentration at the top of the pyramid. Population impact is further down the pyramid.
• On telemedicine, we need to be working smarter and in the home.

Showcase of curated innovators in healthcare

Hospify — Healthcare messaging to keep in touch with colleagues and staff in different departments, hospitals or clinics.

Healthunlocked — A social network for health with one million members that covers over 200 conditions with a range of partners.

Healum — Manage chronic conditions such as diabetes in a personalized, collaborative way.

HaMpton — Smartphone app for monitoring hypertension in pregnancy.

Transforming Systems — Currently providing data for 26 client commissioning groups across England, covering multiple providers including primary care, acute hospitals,111, ambulance services, secondary care, community services, mental health, and social care.

Cuara — Measures lactate and glucose in real-time to reveal your body’s molecular signature.

If you’re interested in learning more about the Co-Lab and how to drive innovation forward in healthcare, fill out a Contact Form and follow us on Twitter.

The Mount Sinai Co-Lab is an open innovation program designed to find solutions to healthcare challenges that have the potential to impact health globally. Solving tomorrow’s healthcare challenges requires today’s preeminent organizations to interface with healthcare systems in ways that they haven’t needed to in the past. The Co-Lab fosters long-term partnership between preeminent organizations and Mount Sinai’s forward-thinking leadership, faculty, and students. Participating organizations are matched with a navigator, a Connector-In-Residence across the Mount Sinai Health System that helps hone in on nodes of value and activate the right Mount Sinai resources to optimize partnership.