The Ledger
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Doctors will not change workflows within a startup's timeframe
“Doctors are not going to change. And at least not in any sort of timeframe that matters for a startup. Maybe, maybe 1015 years.”
Flatiron captures EGFR mutation status in 99% of its dataset
“If you looked for that in a structured field, you'd see it about nine or 10% of the time. In our data set, it's 99%.”
EMRs are built for billing and workflow, not population health
“EMRs, including our own, we're no better, are built for physician workflow and billing. They're not built for population health or informatics or all this”
Machine learning should enhance human experts rather than replace them
“Our take on this is we should be building tools for trained professionals along with a feedback loop to tell them how they're doing. Machine learning and other technologies I think you can apply on top to make those people slightly more efficient.”
Most under-20 person healthcare startups fail to cross the scaling chasm
“There's a hell of a lot of 20 people and under healthcare startups coming out of incubators and whatnot, but most, if you look at the success, and not to, Poo poo startups, but most fail to cross that chasm into, like, a successful healthcare business.”
Ask for advice rather than pitching during early customer discovery
“Our tip and trick for this was always just to ask for advice. Pretend like you're not actually selling something so people enjoy giving feedback they don't like being sold to.”
Flatiron raised $138M from Google, its largest healthcare deal
“We, we've raised about a hundred and thirty eight million dollars from Google. We're their largest healthcare investment to date.”
Flatiron Health software connects 20% of US cancer cases
“And that network now represents about 20% of all cancer cases in the U.S. So about one in five cancer cases we see.”
US oncology EHR adoption will reach 100% by 2017
“And in oncology that's about 90% or so, and growing. It'll be a hundred percent within the next two years.”
Flatiron spends 90% of its time on single-player software value
“Today we've spent probably 90% of our time focused on the single player use case.”
Flatiron Health spent over half its $130M Series B acquiring an EHR
“We raised a Series B is a hundred and thirty million and we used some of that money you know, more than 50%, let's say, to acquire this electronic health records company that builds a specialized oncology EHR.”
Changing physician behavior requires showing direct benefits to individual doctors
“If you're gonna tell a doctor to change something they're doing, you need to tell them why it matters. And I think the key is explaining, hey, if you do this thing that you haven't done, and you weren't trained to do, and you went to school for, like, 15 years…”
Flatiron Health does not utilize health information exchanges
“We don't do health information exchanges, actually.”
Flatiron Health extracts clinical interpretations from reports, avoiding raw medical images
“So we don't pull the raw image today because for us it's about the clinical interpretation, and so that we get out of the report.”
Flatiron Health sees data from under 700,000 cancer patients annually
“We see a little under 700,000.”
Flatiron Health partnered with NCCN's 25 major US cancer centers
“We announced a partnership with this group called the NCCN, which is the National Comprehensive Cancer Network. It's 25 of the largest cancer centers in the US where if you contribute your data you will be able to get the broader data set for research purposes…”
Flatiron Health spends most of its operational time cleaning dirty data
“We talk about all the fun software, but the reality is we spend most of our time cleaning data.”
Flatiron tracks a 6,000-person lung cancer cohort monthly
“To do it at scale, we track a 6000 person advanced non-small cell lung cancer cohort every month.”
Acquiring an oncology EHR saved three to five years on Flatiron's roadmap
“We probably shaved like three, four, five years off of our roadmap.”
Oncology accounts for about 40% of pharma R&D spending
“So about 40% of all R&D spending from pharma is oncology based.”