team # 597 amdepot - venturewellthe search for a product-market fit ??? ??? influencers??? patients:...
TRANSCRIPT
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AMDepot
Team # 597
Wangzhong Sheng, EL
Viet Nguyen Huu, PI*
Richard P. Kuntz, IM
Serving as PI in place of Prof. Adah Almutairi
https://youtu.be/6b5Zu-Ura3I
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107 in person!
128 people
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*Represents ~1% of all retina doctors in U.S.!
Team # 597
Eye Doctors: 43
Retina Doctor*: 27 Institutional: 12
Private Practice: 15
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“Patient compliance is not an issue in wet AMD…I
would say the largest problem is the
‘burden of injections’”
“it’s not even the injections,
it’s the whole feel of coming in for an injection: driving for an hour, if they can drive, that is,
waiting in the office, getting injected…”
Team # 597
Nice to haves!
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Team # 597
You should be ASHAMED!
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“…it is very difficult to get a doctor to speak to you without an incentive…”
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Staff (stakeholders): 36
“It would be nice if patients didn’t have to come in so often or travel as far…”
“I think patient education is key”
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Retina Doc General Ophthal
Referral
??? Replace injections
The search for a Product-Market Fit
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???
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???
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Influencers???
Patients: 8
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“You kno nuthin’!”
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“We never would have been able to have this kind of conversation if you tried to catch me at my office…”
Retina Doctor*: 27 Private Practice: 15
Institutional: 12
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Dr. Tom Ciulla, M.D., M.B.A.
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Dr. Tom Ciulla, M.D., M.B.A.
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Team # 597
Check in
Check out
Tech #1
Doctor Injects
End
Patient Flow
The process through which a patient makes his or her way through a doctor’s office, from beginning to end.
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“Churning patients through the clinic results in more profit…but
only if it’s run efficiently!”
Per Patient
Revenue ~ $220
Cost ~ $160
Profit ~ $60
With a dedicated injection clinic, achieved 18% reduction in office
visit time down to avg. 93 min
50 patients/day x $60 profit/ patient x
150 days/year => $450K
Improve flow by 18%:
(50 patients -> 60 patients) => $540K
Tom Ciulla Example
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“it’s not even the injections, it’s the whole feel of coming in for an injection: driving for an hour, if they can drive, that is, waiting in the office, getting injected…”
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Address patient flow by reducing procedure time
Product-Market Fit!!!
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How to get there…??? 1.Regulatory Path? 2.Reimbursement? 3.Distribution?
Team # 597
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2018?
Time & $$$ to navigate regulatory pathway
IRB approval; IND from FDA
Phase I
Phase II
Phase III
Approval
Phase IV; To market 2025?
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Pricing drives behavior
• “64% of doctors choose Avastin as first line, but if prices were the same, less than 10% will chose Avastin”
Team # 597
9 years no reimbursement code!
Forced to cut price in half
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Confirm Diagnosis; Treatment performed
REQUEST
Reimburse: CMS
CPT Codes
Medicare
Medicaid/ Medgap
Manufacturer/Provider
Billing Manager
Ophthalmic Technician
General Ophthal/ Resident or Fellow
Advanced Tests Basic Tests Hospital/
Clinic
Retinal Doctor Doctor’s Office
FDA
Regulatory
Decis. Action $$$
Legend I
Acquisition; Variable $$$
Regulate
Regulate
FDA
1. Safety 2. Efficacy
Lobbying
Lobbying
Assess
Recommend
Assess
Filing/Approval
Optometrist
Distributor Premium
Diagnosis/Referral
Treatment
Payer Influencer Dec. Maker
Reimburse
Verify Insurance
65+ ?
11/06/15
Patient
CMS = Center for Medicare Services FDA = Food and Drug Admin.
Team # 597
Adoption?
ASP+4%
Co-Pay
$92
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Team # 597
Current Business Model Canvas
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Proposed Business Model • Strategic Pricing
• Cheap enough to be justifiable to CMS for reimbursement and for doctors to use
• Expensive enough to be profitable for everyone – your company, Dr.’s, Pharma
Team # 597
Replacing IVT injections with light-activated dosing
• Tack onto existing reimbursement code • Bill doctors at each “treatment event” • Newer generations with more doses
loaded
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Team # 597
• “CMS is our boss” 2015-2018 2019 - 2026
±4% ± 9% Adjustment to salary
Unfortunately in reality, design product for 5-7 years in the future…!
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Current Solutions
Direct Competitor
Indirect Competitor
Key Partners
Team # 597
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Competitive Landscape
Cost Time Potential Gain
General Risk
EHR and Big Data
$ + LOW LOW
Novel Drug $$$ +++ HIGH HIGH
Drug Delivery
$$ ++ MED MED
*Bad; Good
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Next Steps
Apply for funding to support continued R&D efforts toward creating MVP
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Thank you!