Google Ventures is Google’s early investment institution. According to Krishna Yeshwant, one of the general partners of Google Ventures, the company gets $300 million a year from its parent company, and its investment in medical startups accounts for about 30% of total funding. . Yeshwant is also a licensed physician. A few days ago, he talked about Google Ventures' investment philosophy in the Internet medical field at the 2015 HxRefactored event held in Boston. According to Aditi Pai's report, the author compiled a summary of Yeshwant's speeches to show you the ideas and strategies of the venture capital company's venture capital firm's investment in medical startups.
Google Ventures has invested in medical-focused startups including the recent video workout APP FitStar, which was recently acquired by Fitbit, Doctor On Demand, which provides video consultation services, medical service provider One Medical Group, and Spruce, which provides asynchronous telemedicine services. .
One way Yeshwant analyzes medical startups is to look at the patient population they are targeting. In the activity talk, he shared the use of four quadrants to classify patient groups along two axes: the patient's medical complexity and social complexity, including the patient's socioeconomic problems and their social support systems.
“In one of the corners, some people have low social complexity and medical complexity, just like the many 'Google people’ who work with me at Google,†he said. “They have good jobs and insurance. At the other end of the quadrant, the community of patients with high social complexity and medical complexity is being plagued by a variety of social problems: homelessness, often accompanied by serious mental illnesses, so much that They have been alienated from most of their family members, and there is very little social support around them. The comorbidity is not to be underestimated, because if they can't figure out how to get themselves to the hospital, they will miss most of the clinics. To make things worse."
Between the two, there are also patients with low social complexity and high medical complexity, such as those who have “Google employees who have cancerâ€, but 90% of doctors are receiving patients with high social complexity and low medical complexity. .
According to the above description, the author made this target user quadrant analysis diagram as follows, which is convenient for everyone's reference.
Googleventure medical project target user quadrant analysis
“This model is simple, but I think it’s very interesting because now we are treating the four different groups with the same product or the same service,†Yeshwant said. “...every group has it. Completely different attributes. Google employees - they have a dear job, a family, usually have children; they exercise, there are 10 different hobbies, the idea of ​​going to see a doctor can only be ranked in their priority list of life At the end; they would rather spend more money not to see a doctor; if they can go on a Twitter with a doctor, it is really right for them."
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