Rock Health And Mount Sinai Enterprise Insights Series: NYC Recap

Wednesday, May 8th, Mount Sinai, in partnership with Rock Health, co-hosted the Enterprise Insights Series: NYC. We gathered 170 select executives for a half-day of insights from the latest Rock Health research, facilitated networking opportunities, and expert discussions on startup/enterprise partnerships. The programming showcased what can be accomplished by connecting stakeholders, large and small, to accelerate the adoption of digital health solutions to affect the standard of care.

The event kicked off with a warm welcoming from Dr. David Reich, President, and COO of Mount Sinai Hospital. One attendee praised Dr. Reich for, “seamlessly connecting the dots between medicine and technology. Rarely does the welcome talk so thoroughly grasp both domains.” The audience was comprised of 65% enterprise leaders, 20% of startups, 10% investors and 5% nonprofit leaders and academics.

The subsequent panels, as well as a showcase of curated innovators in digital health, were rich with expert opinions from speakers providing for dynamic and compelling conversation around a host of topics. The following are highlights, takeaways from each panel and a photo gallery:

Healthcares Evolving Front Door: New Models For Access And Payment

• Consumer care is evolving
• Bring value to your customers and help them throughout their journey
• Industry is moving to a more consumer-centric experience
• How do you fit into the overall experience that they’re having where you can reduce the cost for the customer
• Industry has been siloed for way too long
• Find a very strong and specific pain point
• Make sure you’re focused on the right problem you’re trying to solve

Investment, Partnership Or Philanthropy? Exploring Avenues For External Innovation

• We view philanthropy as the highest risk capital with no expectation of return but with an expectation on impact
• We work with a lot of partners to figure value for our customers
• Have clear value insight before making the investment
• Try to work and interact with startups
• With startups, there’s a validation gap
• How are we disrupting ourselves effectively
• Startups need to show evidence before investment as well as the ability to quickly learn, master market expansion and working with big companies
• How do we keep up with a startup’s pace
• We can do a lot more to make partnerships easier
• We don’t move fast and break things because people can die
• We will never be as fast as startups want us to be
• Very few unicorns in health are worth their status

Beyond The Pill: Forging Partnerships In Tech And Pharma

• Digital health is in the “feel good” stage
• We are always looking at mitigating risk and assessing the value
• Know your numbers and come prepared with the right team
• Be a leader in your field
• Do your research and partner with the right pharma
• A partnership is about a long term relationship
• If you have scarcity and urgency then you can move the elephant
• It’s easy to get caught in constant pilot mode
• We need to have internal team champions to green light more shots on goal
• Get as close as possible to the use case
• Do you need a pharma partner? Maybe you don’t
• It won’t be a coincidence when you start seeing more partnerships between pharma and technology startups

Showcase Of Curated Innovators In Digital Health

Radical Health — Radical Health is a minority women-owned social enterprise that works at the intersection of community health and tech. They combine meaningful conversations with AI enabled tech that helps people understand their health care rights during a visit, build trust, and develop self-advocacy.

Marigold Health — Marigold combines the relatability of peer support groups with clinical mental health and substance use care.

Oshi Health — Oshi is a mobile app that’s designed to help people navigate life with Crohn’s disease or ulcerative colitis.

Renalytix AI — Renalytix AI plc (LSE AIM: RENX) is a leading developer of artificial intelligence-enabled clinical diagnostic solutions for kidney disease.

About Mount Sinai Innovation

The Mount Sinai Innovation 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 MS Innovation fosters long-term partnership between preeminent organizations and Mount Sinai’s forward-thinking leadership, faculty, and students. Participating organizations partner with a senior team to connect across the Mount Sinai Health System that helps hone in on nodes of value and activate the right Mount Sinai resources to optimize collaboration. If you’re interested in learning more about Mount Sinai Innovation and how to drive innovation forward in healthcare, fill out a Contact Form and follow us on Twitter.

About Mount Sinai Innovation Partners (MSIP)

Mount Sinai Innovation Partners (MSIP) is responsible for driving the real-world application and commercialization of Mount Sinai discoveries and inventions, and the development of research partnerships with industry. Our aim is to translate discoveries and inventions into health care products and services that benefit patients and society. MSIP is accountable for the full spectrum of commercialization activities required to bring Mount Sinai inventions to life. These activities include evaluating, patenting, marketing and licensing new technologies building research, collaborations and partnerships with commercial and nonprofit entities, material transfer and confidentiality, coaching innovators to advance commercially-relevant translational discoveries, and actively fostering an ecosystem of entrepreneurship within the Mount Sinai research and health system communities. For more information please visit www.ip.mountsinai.org.