Selected quotes from healthcare leaders:
Decentralized HealthTech Advisory
Technology is, slowly but surely, transforming healthcare. HGM Advisory brings together the best HealthTech experts to prepare you for a tech-enabled healthcare future.
"The biggest company in the world will be a consumer HealthTech company"
Vijay Pande
General Partner
Andreessen Horowitz
Projects
The HGM advisory network has collectively completed over 100 HealthTech projects in recent years. Below is a brief selection of projects from each service offering, providing an initial insight into our work.
New HealthTech business models
MedTech
For a leading MedTech in biomedical testing, we identified the most promising AI-Clinical-Decision-Support opportunities in the US
CHALLENGE
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The nascent market for AI-based clinical decision support (CDS) solutions will continue to grow, and CLIENT had an opportunity to stake out a leadership position in CDS tools adjacent to their current portfolio.
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CLIENT wanted to identify the most promising CDS opportunities in the US: each value pool should be defined by health condition, type of care (stationary vs ambulatory) and step within the care continuum (pre-diagnosis, diagnosis, treatment, …).
APPROACH
We addressed the following questions:
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Market: What are the key dynamics and the TAM/SAM2 of CLIENT-addressable segments? Which segments are fastest growing, and which are the least crowded?
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Competition: Who is winning and why?
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Winning framework: What does it take to win and does CLIENT have the right to play? What options (growth areas, M&A) should CLIENT consider?
RESULTS
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CDS market sizing along the care continuum, for each therapeutic area (key market players mapped, archetypes of current “CDS winners”)
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10+ value pools identified with 100+ $ Million revenue potential (detailed calculation of the revenue potential of each value pool, 10+ value pools across 3 key therapeutic areas)
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Go-To-market strategy and identification of relevant M&A targets
Pharma
We ideated and tested new go-to-market models for the global commercial organization of a leading pharma
CHALLENGE
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CLIENT needed to redefine its Go-To-Market Model for established brands due to evolving HCP behaviors and the financial pressures facing the industry.
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We were tasked with answering the following question: How can new engagement models with HCPs be defined for established brands in the context of a significant reduction in customer-facing teams?
APPROACH
We addressed the following elements:
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Go-to-market analogues, to get inspirations from best practices in healthcare and beyond.
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Archetypes: we clustered the key markets in archetypes, as a basis for scaling
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Ideation of new go-to-market models: 40+ new ways of engaging with HCPs
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Implementation of MVPs in key markets: 3 ideas tested in key markets
RESULTS
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GenAI chatbot for medical questions (acting as MSLs)
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New media buying operating model, leveraging programmatic buys and ROI approach (tracking the marketing effect on prescriptions with practice software providers)
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Expert-service center, acting as on-demand personal assistants for physicians (when the GenAI chatbot is not sufficient)
Public institution
We helped a leading public actor to develop and internationalise an HealthTech offering for its Pharma & MedTech clients
CHALLENGE
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A leading public organisation in Europe, expanding into healthcare, has invested in over 30 digital health startups, with a focus on health data and home care.
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We supported the internationalisation of this portfolio and the development of a new Pharma & MedTech offering, leveraging the strengths of a major public player in healthcare and its existing assets in data and home care.
APPROACH
We are covering the following elements on the project:
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Country analysis to decide on ”where to internationalise”
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Identification of the unmet needs of Pharma and MedTech companies
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Cartography of the current capabilities of the client
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Engagement with the relevant partners across geographies to deliver the portfolio of solutions
RESULTS
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Development of a portfolio of solutions for MedTech & Pharma, based on unmet needs and cartography of client’s capabilities
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Buy-in from the management board for the internationalisation strategy and the portfolio of solutions for MedTech & Pharma
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First partnerships with key companies abroad, that enable to deliver international projects
HealthTech reports, scouting & Due-Diligence
Pharma
We scouted the key HealthTech players for a pharma company to improve diagnosis rates of an underdiagnosed disease.
CHALLENGE
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Our client had an effective therapy for a disease that often went undiagnosed, leading to many patients either not receiving treatment or being treated incorrectly due to a lack of proper diagnosis or misdiagnosis.
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The client aimed to double the diagnosis rate for this disease through partnerships with innovative healthcare companies.
APPROACH
We addressed the following questions:
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Channel & Partner Identification: we provided a comprehensive overview of potential digital health solutions and partners.
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Prioritised use cases: We developed detailed use cases for each channel and engaged with the relevant HealthTech company, mapping the entire pathway from patient outreach to diagnosis.
RESULTS
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30+ Channels & HealthTech Players: We identified over 30 channels to enhance patient reach, along with the key HealthTech players for each.
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5 Prioritised: We selected the 5 most promising and feasible use cases.
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3 Pilots: We designed tangible experiments with partners for rollout in the country in scope.
Investor
For a Venture Capitalist, we conducted a due diligence of an innovative primary care chain in Germany
CHALLENGE
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A HealthTech-focused venture capital firm sought to conduct due diligence on an innovative primary care chain in Germany.
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This primary care chain operates a hybrid care model, similar to OneMedical in the U.S., with a particular focus on underserved regions in Germany. The objective of the project was to assess the business model, identify key risks, and recommend mitigation strategies to support the investment decision.
APPROACH
We structured the due diligence around the following dimensions:
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Analysis of the ambulatory care market in Germany, incl. competition
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Identification of the key risks, unit economics and growth
The core idea behind this analysis is that venture capital investment involves systematically peeling back an "onion of risks." Our goal was to identify the most critical risks and prioritize the order in which they should be addressed.
RESULTS
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Sensitivity analysis: Our analysis revealed that the business case is highly sensitive, with a slight increase in time spent per patient potentially jeopardizing the viability of the entire venture.
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Prioritization of key risks: We identified and ranked the top risks, with financial and operational concerns emerging as the most critical.
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Investment recommendation: While this opportunity is more suited to PE than VC, its appeal lies in the significant upside potential and the strength of the founding team.
MedTech
For a leading lab chain, we developed a customised report on digital health platforms and its implications
CHALLENGE
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CLIENT's ambition was to play a significant role in the emerging digital health ecosystem. The first step, and the focus of this project, was to develop a customized strategy that identifies specific opportunity areas.
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Equally important for the project's success was raising awareness and securing buy-in from CLIENT's key stakeholders, including the management board and corporate strategy team.
APPROACH
We structured the report around the following strategic questions:
Where to play?
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What are the key meta-trends in healthcare, and how do they impact CLIENT? Which platforms or ecosystems should be explored? Which value pools should be targeted?
How to win?
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How can CLIENT leverage its existing assets and initiatives? What capabilities need to be enhanced to achieve these ambitions? How should the current operating model evolve?
RESULTS
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Securing management buy-in to advance the HealthTech strategy
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Identified 15+ value pools along the value chain, each containing multiple use cases
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Financial business case for prioritized value pools and use cases
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An implementation roadmap, outlining the timeline as well as the structural changes necessary for successful execution.
HealthTech trainings, sparring & workshops
Pharma
We held a "challenger workshop" with a leading pharmaceutical company to stress-test the strategy of a key HealthTech initiative.
CHALLENGE
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The client, a leading pharmaceutical company, has been funding the development of AI-driven Clinical Decision Support (CDS) in collaboration with university hospitals.
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Although the client had an existing strategy, they sought support to ensure it was the right approach for successfully bringing the AI-CDS to market.
APPROACH
The workshop was structured around the following 4 elements:
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Framing: Why are AI-CDS relevant for the client? What are the key learnings so far?+
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Product-market fit (PMF): What are the key pain points and incentives of each (relevant) stakeholder? How does the PMF of successful AI scale-ups in healthcare look like?
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Go-to-market model: how to communicate the USP of the product? How to distribute the product?What are the financial & strategic implications?
RESULTS
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Financing options for AI-CDS: identification of financing options (Public funding, Venture Capital, Business Angels, …) and first assessment of each option.
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Successful business models for AI-CDS: review and discussion of successful business model archetypes and what this means for the AI-CDS the client has financed.
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Go-to-market model options: discussion of the key dimensions (distribution, marketing & branding, UX) and the preferred options for each business model
MedTech
We were the "sparring partner" of the Chief Innovation Officer of a leading MedTech to develop new moonshot ideas
CHALLENGE
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CLIENT is a leading MedTech company with a strong presence in cardiovascular, neurology, and surgery sectors. However, it is currently facing challenges as its core hardware business becomes commoditized, impacting both revenues and margins.
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To address this, the Chief Innovation Officer sought strategic support to generate, assess, and implement transformative ideas to position CLIENT as the “Tech in MedTech,” ensuring long-term success.
APPROACH
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Regular sparring sessions were held to present, iterate, and evaluate moonshot ideas.
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Involvement of senior leadership: Once ideas reached maturity, they were tested and discussed with the full management board.
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Strategic narrative: In addition to developing the ideas, a strategic narrative was created around the key moonshot concepts.
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Financial business case and strategic partners: New entrants in healthcare, such as BigTech and retailers, were engaged for the co-development of moonshot ideas.
RESULTS
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Six strategic moves were identified to enable the client to transform its hardware business over the coming year.
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Twenty-five moonshot ideas were quantitatively evaluated and mapped to align with each of the six strategic moves.
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An innovation vehicle was developed to operationalize the moonshot concepts through building, buying, or partnering.
Insurance
We conducted a one-day HealthTech training to upskill the innovation team at a global health insurance company.
CHALLENGE
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CLIENT organised an annual summer school focused on HealthTech, a rapidly evolving field that presents new opportunities each week. Keeping up with the latest developments and understanding the potential opportunities HealthTech can unlock is challenging.
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The Summer School aims to provide the innovation team with a forward-looking experience, supporting employee retention and fostering innovation.
APPROACH
The training was structured as follows:
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Recent events shaping HealthTech and the current maturity of HealthTech in Germany.
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A deep dive into the most funded and exciting startups in Germany and Europe to date.
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Quiz: A fun, gamified experience with 10 questions related to HealthTech.
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Startup pitch: Each team created and pitched its own startup idea, supported by a prepared canvas.
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Award ceremony: The best pitch/startup, chosen by the jury, had been awarded.
RESULTS
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Exceeded expectations: Participant feedback was overwhelmingly positive, highlighting the effective balance between cutting-edge content and interactive formats.
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Business impact: Several ideas and concepts from the training were directly relevant to current business needs and could be applied to existing products and projects.
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Employer branding: This forward-thinking training positioned the health insurance company as an innovator, helping to boost employee retention.
