Kaiser Permanente's Dual Purpose Funding Venture
This article was originally published in Start Up
Kaiser Permanente Ventures has been carving out an unusual niche for itself in the straightforward world of corporate venture funding. While return on investment is of utmost importance to most venture funds, KP's mission is broader. Under the direction of Chris Stenzel, its goal is to not only achieve economic success but to improve quality of services and offer new ways of delivering care to members and communities.
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The Permanente Co. and its hospital and health plan affiliate, the Kaiser Foundation Health Plan have set up separate venture groups, charged with fostering commercial development of innovative ideas that exploit Kaiser Permanente's strengths, and hoping in the process to provide clinical and financial benefits to Kaiser and health plan members.
ACOs have been one of the most hyped innovations in the US health care sector this decade. The buzz may be overdone, but ACOs are now established as a different—and confusing—new customer segment for pharma. How is industry adjusting?
Pharma companies are building long-term value propositions that should appeal to Accountable Care Organizations into some go-to-market strategies for new drugs and to repositioning efforts of already marketed drugs that have hit snags. The rationale might seem straightforward—for example, more convenient dosing that improves compliance and cuts down hospitalization rates--but the nuances can be complex. Moreover, even when their products appear to have compelling cases for value, companies have not by and large made ACOs a distinct target for their commercial operations.