Hello internet! Our team is currently on a tour of Spain as we attend both the domain industry’s ICANN GDD event and Health 2.0 Europe. We’ve long been fans of Health 2.0 for being a connector of large and small players in health innovation and technology, and are excited that we could be in Barcelona this year to help them announce some big changes.
SMACK dot what?!
We were especially excited to attend Health 2.0 Europe this year in order to support our friend Matthew Holt, Co-Founder and Co-Chairman of Health 2.0, in launching a new initiative – on a .health of course! Back in 2015, Matthew coined a new term to describe what he says is the next generation of technological transformation of the industry: SMACK. Our dotHealth team thought the concept was perfect to be built as one of the first .health websites! At Health 2.0 Europe, Matthew revealed the new site to the world and invited companies to certify themselves as utilizing the next generation of health technology – SMACK.health.
SMACK.health stands for:
- Social & Sensors
- Kind (we are talking about health, after all!)
Learn more, and certify yourself as a SMACK.health company, at www.SMACK.health.
US vs. EU for health tech startups
A consistent theme throughout the conference was the status of health tech in Europe vs. the United States. Of note, approximately 80% of the venture capital financing to digital health startups around the world that Health 2.0 tracks goes to companies based in the US. This is a consistent theme for European digital health startups – it’s harder for them to get VC funding, and they have to ask for less than what they perceive a similar company in the US could get.
Additionally, there are marked differences in business model design to note when approaching European vs. American markets. In Europe, where many countries operate single-payer and/or single-provider systems, health tech startups may only have one entry point to a country’s population. Additionally, because so many European countries subsidize almost all of their citizens’ health expenses, consumers are less accustomed to paying out of pocket for any aspect of their care. This can make business models for health startups in Europe challenging, as well as different from the US, where both the payor and provider landscapes are more fragmented, and consumers do pay out of pocket for at least some of their care.
On the flipside, with smaller populations and single-payer/single-provider systems, European countries can move quickly on some pretty innovative technology. One example is Estonia, who in the last year has been working to secure the health records of its entire population (over 1 million) through blockchain provider Guardtime. How much more complicated would this be to implement in the US?
What’s next for Health 2.0
“The elephant in the room” at the start of the conference may have been the recent acquisition of the Health 2.0 Conference division by HIMSS. The first day included opening remarks from a member of the HIMSS team, who admitted that she had received a call from a friend worried about Health 2.0 being “HIMSS-ified” post-acquisition. Of course, we were assured that rather than “HIMSS-ifying” Health 2.0, the opposite will be attempted – HIMSS will attempt to permeate the larger organization with the innovative, fast-moving culture of Health 2.0. Health 2.0 will be acting as its own business unit, Indu Subaiya of Health 2.0 will become an Executive Vice President at HIMSS, and the Catalyst Group at Health 2.0 will remain an independent entity.
We’re looking forward to learning more about how the acquisition shakes out over the coming months, but in Barcelona, the culture of Health 2.0 held strong throughout.
Of course, it wouldn’t be Barcelona without some cerveza, vino and tapas. We co-hosted a closing happy hour after Health 2.0 Europe concluded. Attendees to the SMACK.health party received priority access for .health’s Industry Access Phase, starting July 20.
View photos from the event here.
Couldn’t join us at happy hour? You can still apply for Industry Access. This exclusive four-month period gives members of the health industry the opportunity to register and launch their .health domains before the general public in December. What exciting collaboration will we announce at Health 2.0’s Fall Conference in Silicon Valley this October? If you’re a leading health brand, it could be you! Learn more about the “Healthsetters” – an invite-only early adopter program for influential organizations and individuals who are at the forefront of digital health.