ANDHealth

New research from Deloitte reveals that despite high consumer demand for virtual and digital health services in the US, their availability is inconsistent. Today's consumers are accustomed to personalised virtual experiences in banking, retail and entertainment, and many expect the same level of convenience and personalisation in their healthcare interactions. Almost a quarter (24%) of the 2000+ consumers surveyed say they would be willing to switch doctors if virtual visit options aren’t offered. In a surprise to no one, younger consumers are more likely to feel this way, with 43% of millennial respondents and 33% of Gen Z respondents stating they would switch providers to access virtual care. US health system executives were also surveyed and the findings reveal a striking disconnect: although many health systems are interested in, and capable of, offering virtual health services, their organisational priorities often don’t align with consumer needs. Some health systems have even scaled back or discontinued their virtual health offerings. This disparity highlights a critical challenge for the healthcare industry: aligning organisational strategies with the growing consumer demand for accessible, digital health solutions. Health systems that have reduced their virtual health services shared that their decisions are primarily based on the needs of clinicians or the organisation, rather than those of consumers. The top reason given for limiting or stopping virtual health options was low interest among doctors and clinical teams. The current landscape presents a significant opportunity for health systems to reevaluate their virtual health and digital experience strategies. By aligning with consumer expectations and leveraging digital advancements, health systems can enhance patient satisfaction, secure their market position, and improve financial performance. Read more: https://loom.ly/CULkdXQ

Looking to accelerate the commercialisation of your digital health solution? 💸 Join Cicada Innovations and ANDHealth for an evening of insights and networking to explore how non-dilutive funding can help drive your healthtech innovation forward. With moderator Adam Wardell, our panel of experts (Anne O'Neill , Kim Smyth and Carl Runde) will share insights on effectively framing your value proposition, understanding what buyers – particularly in hospitals – are seeking, and navigating the non-dilutive investment landscape. Whether you're new to non-dilutive funding or looking for expert advice, this event will provide practical insights on navigating the landscape and maximising your chances of success. Date: Wednesday 6 November Time: 4:30 pm – 7:30 pm Location: Cicada HealthTech Hub, Innovation Quarter Building, Westmead, NSW 👉 Register: https://loom.ly/9AcSNf4

🚀 Last week, we enjoyed the last in-person sessions of our 2024 LaunchVic ACTIVATE program, diving into the exciting (and sometimes daunting) world of money, modelling and raising capital. Here are some key takeaways from this final module: 1️⃣ Financial modelling: your business's GPs. A solid financial model is essential for success. Think of it as your startup’s navigation system – without it you might veer off course instead of arriving at your investor’s driveway! 2️⃣ Valuation strategy: start modestly. Beginning with a conservative valuation is wise. ‘Be really modest at the start – you can always go up. No one likes a down round.’ 3️⃣ Investment risks and opportunities. Prepare for market challenges. ‘Winter is coming for digital health.’ Grab a warm cuppa and brace yourself for market hurdles, while remaining agile and open to unique opportunities. 4️⃣ Understanding investor perspectives. ‘It’s not you, it’s me.’ A ‘no’ might just mean the investor needs more time, can't take risks, or lacks available funds. It's not always personal! Don't give up. 5️⃣ Navigating internal dynamics. Sometimes partners don’t see eye to eye. Building context and understanding how investments are approved will serve you well. 6️⃣ Capital raising: approach with care. Think of raising capital like a first date: come organised, be clear about your goals, and always showcase your best self! 7️⃣ Strategic partnerships: know when to pivot. ‘A fast no is better than a slow yes.’ Engage with potential partners early to uncover valuable collaborations and recognise when to move on. 8️⃣ Focus on investor metrics. In venture capital, the key metric is how much money you generate for your investors. It’s about impact, not just your number of deals. 9️⃣ Leverage AI thoughtfully: address biases and build trust. ‘Yes, we expect AI to be in everything, but how you utilise it needs careful consideration and articulation.’ Address potential data biases and ensure your models reflect diverse populations to avoid perpetuating health disparities. A huge shout out to our fantastic speakers for sharing their unique perspectives across three energising days, and to our talented cohort for showing up with such energy and enthusiasm once again, as well as joining us for a celebratory lunch.

Curious about CUREator+, our $50M incubator program supporting breakthrough technologies to drive clinical and commercial impact? Attend our upcoming information session to have all your questions answered! 👉 CUREator+ Information Session Date: Monday 28 October 2024 Time: 12:00 pm – 1:00 pm (AEDT) Register: https://loom.ly/eaAgteY Learn more about the program and EOI process: https://loom.ly/qd9PGBk CUREator+ is delivered in partnership with Brandon BioCatalyst (Brandon Capital) and supported by funding from the Medical Research Future Fund (MRFF) BioMedTech Incubator (BMTI) program.

⭐ Nominations for the 2025 NHMRC Biennial Awards are now open! The National Health and Medical Research Council (NHMRC) is seeking nominations for outstanding individuals, groups of individuals or institutions/organisations from the health and medical research community for consideration in the 2025 Biennial Awards. The Awards celebrate leadership and outstanding contributions to the health and medical research sector. There are 6 award categories, including a brand-new award for 2025: • Consumer Engagement Award • Ethics and Integrity Award • Research Quality Award • Science to Art Award • Outstanding Contribution Award • Peer Review Excellence Award (NEW!) Nominations close on Friday 31 January 2025 at 5:00 pm (AEDT). Learn more and submit your nomination: https://lnkd.in/dTq8jnP

Digital health technologies tackling some of Australia’s biggest health challenges are set to share a total funding injection of $3.25M from the Medical Research Future Fund (MRFF) 👏 The five companies are part of ANDHealth+, Australia's leading digital and connected health accelerator program. Since starting the program in August last year, they have received support from local and international advisors, experts and investors to strengthen their businesses, plus preliminary funding for key Stage 1 projects. The Stage 2 funding will help startups Eugene, Atmo Biosciences, Immunosis, Metabolic Health Solutions and Humanetix conduct further studies and scale their businesses to solve health challenges across genomics and genetic testing, gut and metabolic health, immune deficiencies and improving clinical efficiencies. ANDHealth CEO Bronwyn Le Grice said, “The funded projects will not only look at the commercial and clinical milestones these Australian health businesses need to meet, but provide expert support and advice, access to global partnerships and critical non-dilutive funding to ensure these solutions make it into the hands of patients, clinicians and care teams as swiftly as possible.” Read more: https://loom.ly/up_3puQ

How can the biotech sector address the gender gap in leadership roles? Despite evidence showing that gender-diverse leadership boosts innovation and profitability, leads to improved decision-making, reduced groupthink, and a more inclusive workplace with higher engagement and satisfaction, only 11% of CEOs in Australia’s biotech industry are women. The underrepresentation of women in biotech leadership roles presents a unique opportunity for the industry. Dr Anna Lavelle AM FTSE GAICD (Medicines Australia) will lead a panel discussion on how biotech can harness gender diversity to drive greater innovation and performance at AusBiotech 2024. Panellists: ✦ Rebecca McQualter (Chimeric Therapeutics) ✦ Gavin Fox-Smith (Omnigon) ✦ Michelle Burke (Cell Therapies Pty Ltd & Olivia Newton-John Cancer Research Institute) ✦ Bronwyn Le Grice (ANDHealth) Learn more: https://loom.ly/-BTVS_g

🚨 This month's Software as a Medical Device (SaMD) webinar with the Therapeutic Goods Administration is almost sold out! Don't miss your chance to have your questions answered by the TGA and hear an overview of the updated SaMD regulations. This session is for all Australian digital health SMEs required to design and deliver robust clinical trials and evidence to support the safety and efficacy of their digital health products, as verified by the TGA. ❇️ An Overview: SaMD Regulation by the Therapeutic Goods Administration Date: Wednesday 30 October 2024 Time: 10:30 am – 11:30 am (AEDT) Register now: https://loom.ly/wEldvEE

📢 CUREator+ round two is now open! This national incubator program, delivered in partnership by Brandon BioCatalyst and ANDHealth, supports the translation and commercial development of promising biomedical and digital health technologies. CUREator+ will provide successful applicants with between $1-5M in non-dilutive funding, as well as commercial guidance, hands-on support, mentorship and access to a global network of experts. Funding is available to support preclinical, clinical and/or commercial development of breakthrough medical and connected device technologies, digital health technologies and therapeutics. 💡 Learn more about the program and EOI process: https://loom.ly/qd9PGBk 📆 Register for our upcoming information session to have all your questions answered: https://loom.ly/eaAgteY CUREator+ is delivered in partnership with Brandon BioCatalyst (Brandon Capital) and supported by funding from the Medical Research Future Fund (MRFF) BioMedTech Incubator (BMTI) program.

🎉 Congratulations to Lions Outback Vision, the winner of The Challenge! Last year, the Government of Western Australia issued a global challenge for a world-leading medical research and innovation solution to resolve a pressing problem of health service delivery in the Pilbara region of Western Australia. 10 finalists progressed to the proof-of-concept stage and had 12 months to deliver their solution on the ground in the Pilbara. The Hon Stephen Dawson MLC, Minister for Medical Research, announced Lions Outback Vision as the winner and presented them with their $5 million prize at an award ceremony in Karratha last night. Lions Outback Vision was established in 2010 with the support of the Lions Eye Institute and The University of Western Australia to improve the eye health of rural, remote and Indigenous West Australians. Its winning solution uses artificial intelligence to screen for eye diseases such as diabetic retinopathy and cataracts, significantly improving early detection for people in remote areas who would otherwise be required to travel to urban areas. Well done to Lions Outback Vision and all of the finalists for making an impact, developing innovative solutions to some of healthcare's biggest challenges, and helping to close the health equity gap. Learn more about The Challenge: https://loom.ly/DJ3bX24 Learn more about Lions Outback Vision: https://loom.ly/2ZICAuE