Post on 27-Jan-2015
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transcript
Big Data & its Business Applications
-or-
How to Monetize Data
H@cking Medicine A Production of the MIT Entrepreneurship Center
Joshua Rosenthal, PhD 10.22-23.11
1) Start with the Money
Note: Payer (money) buying intervention (provider)
Engineers' Guide to Multiples
1x Rev 4x Rev 8x Rev
- Ja Ja Binks + Good fights
- Teddy Bears
+ Existential crises of free agency vs. determinism wrapped in a fairy tale
performance-driven consumerism, following financial services & e-
Problem:
saying this for 20 years
Sounds good, makes sense
(Nice hair, good
Hack:
then make a biz from it
Specifically, learn why they are wrong
3) Know the Bodies
Health Care, Where Good Ideas Go to Die
Perverse Incentive - A
Supply-driven markets:
Note: v
cf. Dartmouth Atlas for Unwarranted Variation
Perverse Incentive - B
Payers have Money and Aggregate
(Read w/ accent)
Note: Medicare $ > Employer $
Employer populations = tougher outcomes (3-year turn) Cf. Medicare reimbursement rates
Illusion
Track how fat you are! Only $1.99!
Note:
... but you are probably not profitable
If P < EHC x DWS, then 501c3
501c3: Non-profit
... but you are probably doing bad things
to make money
& do good
in Health Care
5) Start
... with the money: _______ ... where they make profit: _______ ... with a real biz problem: _______ ... with the (publicly available) data: _______ - Then ask: Does this hose people? A: quality > than quantity (supply driven)? B: customer/patient satisfaction?
Data & Biz Problems
Package in work group
(Psst... Know a good accelerometer app developer? Please ping me.)
1) List of Data Sources & Context 2) Connections between Data and Biz Needs: A Mad Libs Approach
How to Monetize Data
-Summary-
1) Start with the Money
3) Know the Bodies 4) Do Good and Make Money 5) Start