Dave Strigler

M13 is thrilled to lead the Series A in RadiantGraph which is focused on personalization in healthcare. As we continue to invest in early stage companies it is abundantly clear that the biggest indicator of success is the founder and his or her ability to execute on their vision of the future. In this case, I don't think I have seen much better founder-market fit than we have with founder and CEO Anmol Madan. We believe in his vision: in order to have the best patient outcomes in healthcare we need increased personalization and AI is the breakthrough to get us there. Anmol started one of the pioneering digital health companies Ginger and then was Chief Data Scientist at Livongo and Teledoc. He has done it all: early stage, late stage, public company. And he deeply understands the nuances of the healthcare market from all angles which is critical for success. While there are many players building healthcare-specific AI capabilities, RadiantGraph is focused on outcomes: The platform is already processing personalization models for more than 3.5 million people, despite launching just last year. Excited to partner with my friend Adam D'Augelli and the great True Ventures again and Morgan Blumberg who has been deep in the healthcare market with me for many years. More on our thesis in the blog below. https://lnkd.in/evDDmC3W

72

4 Comments

Some VC investors believe that brick and mortar - referring to a physical presence of some kind - should be avoided at all costs. Yet, the track record of clinic and hybrid care businesses in health care indicates otherwise. ==> One Medical (sold for $3.9 billion to Amazon), Oak Street (bought by CVS for $10.6 billion), Lifestance (IPO at $7.5 billion market cap), and PE-backed Premise Health (acquired by OMERS Private Equity for $1.1 billion) If a clinic is indicated as the optimal way to deliver care for that patient population, there are creative ways to build and operate them. Full article below with advice and strategies on how to build and operate hybrid clinics from my teammate Anarghya Vardhana from Maveron, Amir Dan Rubin from OneMedical Group, Steven Eidelman from Modern Animal and more!

13

1 Comment

Generally surprised to not see more hardware vendors in healthcare and life sciences partnering with AI-first companies. When the zone of genius of a company is hardware, it's difficult to imagine that same team achieving parity on an AI product – Apple may be the greatest example of success in this realm, and still has secured many AI capabilities via targeted M&A (Siri, Turi, Xnor.ai, Voysis, Inductiv). Given the importance of leveraged distribution models in the ossified industries of healthcare and life sciences, it seems there is untapped opportunity for more hardware manufacturers to partner and co-develop AI products with startups. Control over the way data is captured and processed is critical for building high quality training data sets, which creates an interesting feedback loop between hardware companies and potential AI-first startup partners. Interested to explore this further with folks in healthcare and life sciences hardware!

150

10 Comments

On the latest Vital Signs, Nikhil Krishnan and I had a ton of fun chatting with Dr. Atul Butte. Dr. Butte is a professor at UCSF, Chief Data Scientist of the UC Health System, and a co-founder of numerous healthcare startups. In our conversation, Dr. Butte shared his takes on healthcare AI opportunities, challenges, hype, and more. A few highlights: ⚡LLM use cases, data, and growth LLMs are already helping to solve the “drudgery” aspects of medicine, such as automatically drafting SOAP notes and patient messages. Dr. Butte is excited about future applications of LLMs that can help with the “cognitive” aspects: with difficult medical problems an LLM might be able to stitch together disparate pieces of information to generate a potentially novel solution. He also highlights that prompt engineering will become the next “coding language” as so much of leveraging LLMs is knowing how to ask them the right questions. Additionally, Dr. Butte discusses how since 2016, UCSF has been working to deidentify its patient notes so that it can query them to answer clinical questions and ultimately enhance patient care. ⚡The need for patient-facing AI As patients are increasingly able to access their own personal health data in nicely structured formats (e.g., EHRs, wearables), they desperately need more tools to help them interpret and make decisions using that data. Dr. Butte understands that these patient-facing solutions are challenging to get funded but he emphasizes that patients need to receive the benefits of AI sooner. ⚡Evaluating healthcare AI solutions In order to evaluate AI solutions, we often put human specialists – such as medical professionals – on the same tasks. Understanding that specialists often disagree with each other, a significant challenge arises in figuring out how we can evaluate AI considering we can’t just “average” all the specialist opinions. Dr. Butte points out that there still remains a massive gap in AI evaluation tools. Additionally, there are so many organizations that want to have a say in how healthcare AI is regulated that the landscape is uncertain. An awesome conversation with an expert on all things AI meets healthcare. Listen to the full episode below: Spotify: https://spoti.fi/3Wr3643 Apple: https://apple.co/4acwgan

82

8 Comments

AI and Med Tech in Focus   AI System Developed to Identify Pathology in Tissues Engineers at Washington State University have developed an AI tool that uses images of human and animal tissue to detect abnormalities faster and more accurately than people. The AI algorithm was trained using images from past studies that involved kidney, testes, ovarian, prostate, breast and lymph node abnormalities. The new model detected disease in minutes—current processes take humans several hours and require specialized teams to check each other’s work. It was also found to be more accurate, sometimes detecting instances that humans had missed. The engineers designed the system to handle the processing load of the high-resolution gigapixel images by breaking them down into smaller tiles but still retaining the overall context of the tissue sample—akin to the zoom feature on a microscope or phone camera. Aside from getting diagnostic results more accurately and quickly, the new system also shows promise in epigenetics (the study of molecular processes that change gene behavior without changing underlying DNA). Epigenetic researchers can perform analyses and get results that used to take a year or more in just a couple of weeks. VC Investors are always adjusting their "Play Book" with a variety of options for investing. Mikal Ventures is one of those alternatives, offering curated solutions to real world problems. Reach out if you have questions on how we can be of assistance and bookmark https://mikalventures.com/ for additional insights and information.

1

Platforms are in, point solutions are out as the healthcare AI category leaders come into focus this year. In conversation with Shelby Livingston at Endpoints News, I shared: 1. Why AI-first companies have the greatest platform potential and heuristics for identifying these opportunities at the earliest stages, 2. How companies are differentiating through co-development and distribution partnerships with leading healthcare institutions, and 3. Strategies for navigating anemic budgets and constrained market sizes through business model innovation such as AI-enabled services and pay for performance models Read more here: https://lnkd.in/dJWqv_zC Bessemer Venture Partners Abridge #healthcare #lifesciences #AI #generativeAI

258

14 Comments

Interested in AI? How it works in health and life sciences? Come see CapsicoHealth CEO J (Ramesh) Sairamesh at the Gen AI Summit today in San Francisco! There is a lot of hype out there, but Capsico is making real waves!

11

Friends/Fellow Founders - TIMELY– As many of you know, I recently visited lawmakers in #Sacramento to speak out against harmful #AI #legislation. This was an incredible experience, and I was grateful for the opportunity to share my story. Thanks to the advocacy of many AI startups, one bad bill was defeated, but another, SB 1047, is headed to the Governor who has not decided whether to let it become law or veto it. #SB1047 would regulate AI in unprecedented ways. Though the bill says it’s about corporate AI giants, I fear small startups will be hit the hardest. Companies like mine will struggle to overcome the new #regulatory hurdles enforced by this reckless #policy. I’m sure everyone agrees AI abuses and misuses should be prevented and prohibited, but SB 1047 would punish businesses that build technology instead of those that misuse it. The government should regulate misuse and harm, not core technology. Please consider joining other #startup and #smallcompany leaders in signing the letter below urging #Governor #Newsom to #veto SB 1047. Thank you! https://lnkd.in/gAJNDEDJ

6

1 Comment

Really enjoyed my conversation on the Digital Health Transformers podcast talking about all the disparities that exist within our healthcare system, and how we can leverage the power of data and AI to address these problems.  https://lnkd.in/gmffkKct

98

2 Comments

As we get prepared for our Angel Conference program, we run workshops to help get things lined up for the right conversations between investors and early pre-seed startups. We have a deadline coming up on August 27th for startups. One of the places that we see companies having a bit of trouble is on the customer discovery side of things. So we have a couple of workshops on that early customer discovery and associated efforts to get traction early before your MVP. As Angel Investors, we need to think with a portfolio mindset instead of investing in one or two companies to "see how it goes". We have a panel of SAC alumni talking about their perspectives on their portfolio of companies. We also know that startups don't practice pitching enough. So we we have workshops for improving pitches before people pitch for real. You can see the upcoming workshops here: AI+Lean  Building automated content experiments for customer discovery Tuesday, August 6, 2024 10:00 AM to 12:00 PM PDT https://lnkd.in/gJMiyQZC Building Your Angel Investment Portfolio Tuesday, August 6, 2024 6:00 PM to 8:00 PM PDT https://lnkd.in/gD9ATSyG Pitch Deconstruction and Review Thursday, August 8, 2024 12:00 PM to 2:00 PM PDT https://lnkd.in/g-RRajrX Finding your first paying customers Tuesday, August 13, 2024 10:00 AM to 12:00 PM PDT https://lnkd.in/gN-DaRJ8 Angel Investing and Taxes Thursday, August 15, 2024 12:00 PM to 2:00 PM PDT https://lnkd.in/gjs9cQfy Solving Real Problems: The Key to Market Success Tuesday, August 20, 2024 10:00 AM to 12:00 PM PDT https://lnkd.in/gYkJFD-X Structuring a Pitch Deck That Engages Investors Thursday, August 22, 2024 12:00 PM to 2:00 PM PDT https://lnkd.in/geyYR4wB Seattle Angel Conference (SAC 26) Application Deadline Tuesday, August 27, 2024 9:00 PM to 9:05 PM PDT  (But REALLY … Apply early)  https://lnkd.in/gM_fSmbZ  Companies need to apply here - https://lnkd.in/gWbtkAaf Please let the folks around you know about these workshops.

49

2 Comments

Fantastic insight into the current state of healthcare IT and SaaS offerings by my teammate Eric Snyder, and can easily be applied to academic IT as well. So many times institutions have to settle for expensive software that doesn’t fully fit their needs, or multiple solutions to meet organizational goals, while still leaving a large technical burden on employees to implement and use the software on a daily basis. Many of these pitfalls can be avoided by having a small, dedicated development team create custom solutions that perfectly fit the users needs. While skilled developers can be expensive, compared to the cost ineffective software licensing, lost productivity, and contractor support to augment your IT group, in house development on many occasions can save your organization money and time when implemented properly.  

9

Trust-building and education are crucial. For many patient engagement strategies there is no, "we will get them next time." If the first call doesn't deliver value, then the next call will likely be screened and ignored. AI-powered agent outreach strategies centered around patient education and empowerment lead to accessing care.

17

It's been unique to go through medical training during the era of AI. Studying for board exams with language models, using AI literature search products to answer tough questions during rounds, and trying every agent-based patient simulator to strengthen diagnostic skills. There's a new physician stack forming around us thanks to AI. If you're interested in these topics and AI in medical education more broadly, please join me for the 10th Annual Conference, Precision Medicine 2024: Education in the AI Era at Harvard Medical School—a hybrid in-person/virtual event, on October 1st. Together with James Diao and Shivangi Goel, MD, MBA, we'll be talking about non-linear paths through medical training. Plus, you'll get to hear Dr. Isaac Kohane debate Dr. Pete Szolovits, on the topic of “Should GPT-4 Write my Thesis." Register here: https://lnkd.in/gSddDA63

54

3 Comments

The (Healthcare) Ground Beneath Our Feet… This year it is likely that over $10 billion will be invested in the digital health sector – a robust amount, no doubt, but inconsequential when compared to the amount of capital tied up in healthcare real estate assets, which is estimated to be $1.2 trillion by Jones Lang Lasalle. Of that amount, approximately $790 billion is in the hospital sector while the remaining $490 billion is in medical office assets. It is estimated that there are 48.6k facilities with 3.4 billion square feet of healthcare real estate, 42% of which are owned by REITs and another 33% held by other private investment vehicles. Much of the digital health investment is meant to make the physical healthcare infrastructure more productive: greater operating efficiencies, greater patient throughput, more relevant personalized care models with better outcomes. As the healthcare system is being pushed to be more distributed to lower cost sites of care, accelerated now by the rapid proliferation of automation and AI capabilities, the potential impact on healthcare infrastructure assets will be profound. Thoughts on what that might look like... https://lnkd.in/eTfAdUbS #digitalhealth Flare Capital Partners

97

5 Comments

Dr. Goldstein's deep insights into these tools boost our team's abilities, enabling us to put together solutions that don't just meet your expectations but aim to surpass them. Read more 👉 https://lttr.ai/AULtk #MachineLearningSolutions #TacklingComplexChallenges #LarryGoldstein #PioneersAi #ApplicationDevelopment #UnderstandUserRequirements #OnceThoughtImpossibleTotallyDoable #CraftPredictiveModels #CrewSNavigationalSkills #OptimizingInvestmentPortfolios

1

1 Comment

Of note: Your health records are coming to new apps This in an interesting change, and a somewhat Epic change. All puns intended. If you don’t know, the leading medical record storage solution in the US is operated by Epic. A rather critical problem is that if you walk (well drive) between two hospital in the US, the medical records tend not to follow you, unless you carry a large Manila envelope. Having Epic (and others) via TEFCA allow export of records arguably allows you to only carry your phone, which is a very siginificant change. This also (arguably) opens up a huge new innovation sector. Epic is one of the organizations that has been helping the US federal government establish the Trusted Exchange Framework and Common Agreement, or TEFCA. The goal being to iron out both the legal and technical requirements for sharing patients' data at scale. Health-care data in the U.S. has historically been siloed and difficult to move around. Clinics, hospitals and health systems can store their information in a variety of formats across dozens of different vendors, and there hasn't been a trusted nationwide mechanism in place for transporting it securely. This means if a patient moves to a different state or visits a new hospital, their medical records tend not follow. PS. If you want appreciate how profitable the US medical sector is, Epic HQ has a restantant designed to look like Kings Cross from the Harry Potter movies. https://lnkd.in/g8NaWza8

1

3 Comments

AI and Med Tech in Focus   AI System Developed to Identify Pathology in Tissues Engineers at Washington State University have developed an AI tool that uses images of human and animal tissue to detect abnormalities faster and more accurately than people. The AI algorithm was trained using images from past studies that involved kidney, testes, ovarian, prostate, breast and lymph node abnormalities. The new model detected disease in minutes—current processes take humans several hours and require specialized teams to check each other’s work. It was also found to be more accurate, sometimes detecting instances that humans had missed. The engineers designed the system to handle the processing load of the high-resolution gigapixel images by breaking them down into smaller tiles but still retaining the overall context of the tissue sample—akin to the zoom feature on a microscope or phone camera. Aside from getting diagnostic results more accurately and quickly, the new system also shows promise in epigenetics (the study of molecular processes that change gene behavior without changing underlying DNA). Epigenetic researchers can perform analyses and get results that used to take a year or more in just a couple of weeks. VC Investors are always adjusting their "Play Book" with a variety of options for investing. Mikal Ventures is one of those alternatives, offering curated solutions to real world problems. Reach out if you have questions on how we can be of assistance and bookmark https://mikalventures.com/ for additional insights and information.

1

A playbook for managing the biggest risks in early-stage health tech adapted from Wesley Fogel article on Peerr 🚀 👥 People Risk: Engage users, decision-makers, and clinicians early with prototypes and iterative feedback. 🏥 Clinical Risk: Ensure safety through external evaluations and compliance with standards like DTAC and DCB0129. 🔒 Security Risk: Prioritise data security and compliance with HIPAA, ISO27001, and other standards. 🛠️ Technical Risk: Avoid technical debt and optimse your tech stack with an experienced CTO. 🏛️ Governance Risk: Build a diverse advisory team to guide ethical, legal, and regulatory strategies. 🌐 International Risk: Weigh the benefits of early overseas exploration against potential resource strains. 💰 Financial Risk: Focus on vision, team, and go-to-market strategies at different funding stages. 📈 Commercial Risk: Maintain ongoing customer engagement and seek formal partnerships through accelerators. https://lnkd.in/e8BPBnEv

18

6 Comments

Check out this survey from our friends TSIA

5