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Dave Chase
Works at Rosetium
Attended Northwestern University
Lives in Seattle, Wa
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Dave Chase

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Need advice? Give experts a call. Great UX & use of @Twilio Here's my profile as example https://clarity.fm/davechase
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Dave Chase

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Dave Chase originally shared:
 
New accelerators need to step up their game. I appreciate the spirit of letting a thousand flowers/accelerators bloom, however as a graduate of one and mentor in another, these accelerators are starting to seem like the 1000th photo sharing app -- i.e., questionable value proposition. $20k for 6% equity and no track record is going to set them up for failure.

We already have enough scorched earth in healthcare. Read the article by +Jonah Comstock in MobiHealth News. What would be your ideal accelerator attributes that would allow something like this S. Carolina accelerator to attract high quality companies and then, more importantly, have success? The top of my list would be ready buyers (providers, plans, life sciences, etc.) who have virtually published an RFP for a key gap they want filled and are ready to step up to a true partnership with a startup.  By far the most important thing for a startup is real customer traction. I'd like to see the accelerator put some skin in the game (beyond a pittance of $$) and align their interests more closely. For example, a real customer gets landed as a result of the accelerator. Then, and only then, the accelerator gets warrants. As a startup, that would be worth it. 

What's your take?
New digital health focused accelerators seem to be popping up every week, especially in the South. Healthbox launched a Florida accelerator in the middle of April, and a week later Health Wildcatters launched in Dallas, Texas. Now a tech accelerator called The Iron Yard in upstate South Carolina ...
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Onerous equity deal from unproven healthtech accelerator - 8% for $35k & 12 weeks. No thanks.

If this is reported accurately, I can't imagine anyone other than desperate entrepreneurs taking this "deal". There are boatloads of great MDs that will gladly mentor a startup for much longer than 12 weeks -- e.g., bring them on as long-term advisor/mentors. Perhaps there is an amazing track record that I'm missing. Until a new accelerator gets a real track record, they need to back off on the onerous terms IMHO.

The unfortunate thing is they'll get 2nd & 3rd tier companies applying and there will be another cohort of burned investors. There is already enough scorched earth on investing in healthtech -- we don't need more.

What do you think would be a fair deal? The model I'm looking for is one where health orgs would earn equity (via warrants) when they make a decision to use a product. Real world usage has demonstrable value that I'd be open to with the right situation. That's in stark contrast to giving up 8% with a promise of delivery. I'd pass on that in a moment. I hope this accelerator thinks like a startup and iterates on its model. 
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Are EHR vendors open to partnering with multi-provider patient portal & relationship management systems in light of the ONC ruling that makes it a big advantage for providers to support multi-provider, EHR agnostic platforms such as Avado. I had bounced this off of +John Lynn (see article he wrote about it linked here) & looped in +Shahid Shah to get their POV. He gave me permission to pull in his comment in response to my perspective (see below - Shahid's comments are between the double lines). Fyi, we address the point regarding APIs, SDKs, SSO, etc. Do you agree with Shahid's POV below and John's POV in his piece? I was given the example of ePrescribing where EHR vendors have been open to 3rd party solutions that are the equivalent of Avado. 
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Dave, I think you're right that EHR engineering teams that are struggling with MU stage 2 and 3 should partner up to get all the help they need. The problem is that the patient portal and engagement tool providers don't make it easy to do integration using APIs, SDKs, single sign-on, platform-approach, open source, white labeling, brand protection, and related requirements.

If patient portal providers were more focused on EHR integration benefits on the engineering side and marketing it properly to product managers, etc. at EHR firms then they would do quite well.

Hope this helps.

Thanks, Shahid.
========
My perspective that Shahid responded to:
Naturally, I am biased towards an EHR-neutral, multi-provider patient portal (since that's an element of Avado's patient relationship management system) so you can take my comments with that bias in mind. I'll be interested in your more objective view. 

The EHR companies have a choice. They can divert finite engineering resources to develop, at best, a me-too patient portal that perpetuates the silo-ization of healthcare or they can position their clients for success in the accountable/coordinated era by picking a best-of-breed EHR-agnostic, portable patient relationship management system that addresses traditional patient portal features, MU requirements, provides a Collaborative Health Record while also addressing the myriad new requirements in the No Outcome, No Income era. Not surprisingly, we think they are better off partnering with a company such as Avado. Thus, it's central to our strategy to partner with EHR vendors. There are over 300 that have had providers attest to Stage 1. A small number have "unlimited" resources and will likely further the "Wang model" but with the others, companies such as Avado are a natural partner. 

Naturally, we think the ONC is trying to usher in a new era that can lead to a wave of innovative new solutions. Avado is one example of what can be fostered. Much more important, it introduces more competition and choice for providers. This sort of thing coupled with efforts such as Automated Blue Button create the conditions for innovation in my opinion. 
I’ve regularly talked about the current healthcare environment of hospitals acquiring physician practices. This trend is occurring at a really rapid rate, but in an email exchange I had rece...
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I agree 5% seems to be low.  I would be happy if that number was higher.

I would not be surprised if we see patient portal adoption of vendor neutral portal such as Avado mimic the Innovation Curve.  You will see the early adopters who get it and see the robustness and advantages of what a product like Avado can do vs. their EHR patient portal and move in that direction from the start.  Then a large group will take what they get from their EHR vendor initially but once they see the results and advantages of a patient relationship management system they will come in during the Early Majority and Late Majority stages.  And once again we see the power of a vendor neutral solution that will allow them to make the switch and not be tied to one vendor.
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Thank you Dave! Now we could see eye-to-eye literally! :-)
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Box is a company/platform healthtech leaders shouldn't ignore. Not too surprising that they are tracking towards an IPO. They're on a roll. It provides Box legitimization in the enterprise to be a publicly traded company and gives their VCs the exit and feather in their cap they desire. Keep an eye on them. It's easy to underestimate a player like Box that starts with a particular beachhead that doesn't seem monumental but is a great jump off point. More on this story in the future, I assure you. +Shahid Shah talks about the need to use general technology and not think everything is unique to healthcare -- Box is a great example of that. +Brian Ahier +Leonard Kish +Vince Kuraitis -- I'd watch these guys. They have some things they are doing that could help you (and others).
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Provocative whitepaper by Oliver Wyman that I've excerpted and added some color commentary to. 
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Dave Chase

Shared publicly  - 
 
New accelerators need to step up their game. I appreciate the spirit of letting a thousand flowers/accelerators bloom, however as a graduate of one and mentor in another, these accelerators are starting to seem like the 1000th photo sharing app -- i.e., questionable value proposition. $20k for 6% equity and no track record is going to set them up for failure.

We already have enough scorched earth in healthcare. Read the article by +jonah comstock in MobiHealth News. What would be your ideal accelerator attributes that would allow something like this S. Carolina accelerator to attract high quality companies and then, more importantly, have success? The top of my list would be ready buyers (providers, plans, life sciences, etc.) who have virtually published an RFP for a key gap they want filled and are ready to step up to a true partnership with a startup.  By far the most important thing for a startup is real customer traction. I'd like to see the accelerator put some skin in the game (beyond a pittance of $$) and align their interests more closely. For example, a real customer gets landed as a result of the accelerator. Then, and only then, the accelerator gets warrants. As a startup, that would be worth it. 

What's your take?
New digital health focused accelerators seem to be popping up every week, especially in the South. Healthbox launched a Florida accelerator in the middle of April, and a week later Health Wildcatters launched in Dallas, Texas. Now a tech accelerator called The Iron Yard in upstate South Carolina ...
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Accelerators rely on the flawed model that coaching (which is primarily a few weeks of talking-head lectures by self-described "experts") and a few $ can increase the probability of success for an aspiring entrepreneur. Even more so in healthcare with the long buying cycles and regulatory chokes. The success needle will hardly move even if accelerators can supply customers as Dave proposes. 
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Today is Opening Day of Boating Season in Seattle. One of Seattle's great events and we have a perfect 75 degree day in store for the 10s of thousands on the water and shore. I sometimes use the crew team metaphor to describe the organizations such as those I highlighted in The Hot Spotters Sequel: Population Health Heroes http://www.forbes.com/sites/davechase/2013/04/30/the-hot-spotters-sequel-population-health-heroes/. They are a great example of how a team of medical professionals can achieve great results when well synchronized. Unfortunately in most of healthcare we have strong, smart people working very hard but they aren't coordinated as outlined in "Healthcare's Dirty Little Secret" that I linked to in the piece above. 
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It's a credit to my team that we were able to get to this stage. Lots of work/fun ahead!
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Need a "neuronutritionist"?  Will have online interactive resources available within 45 days.  Nutrition is the greatest barrier to healthcare, the US the most obese nations, and 17 of 17 for quality of reported health.  Citations available upon request.  I like what you have done with your site!   DN
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Stunning to hear any tech company asking for things to slow down. Sign of bigger issues.
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Infographic on opportunity in healthtech
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People
In his circles
211 people
Have him in circles
643 people
Dean Harris's profile photo
Michael Dermer's profile photo
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samira brain's profile photo
farhang hamad's profile photo
Justin Carder's profile photo
Santo Criscuolo's profile photo
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Work
Occupation
Entrepreneur
Employment
  • Rosetium
    Founder, 2015 - present
    Rosetium focuses on the early years of high growth new businesses from go-to-market strategy guidance, new market exploration and all stages of funding. High growth ventures benefit from our experience having crowdfunded and bootstrapped at the early of a startup or conceiving of new ventures inside of well-established organizations. As they mature, ventures also benefit from our experience with venture funding and M&A. We have a passion for accelerating the shift to a higher value health ecosystem and have conceived of initiatives designed to accelerate the shift. [See image-links below for more on each] + 95 Theses for a New Health Ecosystem + Health Rosetta - an open source project + Documentary to highlight the latent potential to reinvent healthcare Recent speeches and consulting projects have been in the following areas: •How to infuse startup energy and innovation into established companies •Building market and thought leadership on a bootstrapper's budget •Patient engagement •Healthcare as an economic development differentiator •Reinvention of health benefits •Guiding principles for new healthcare products and services in Healthcare’s Age of Enlightenment
  • Avado/WebMD
    CEO, Co-founder, 2010 - 2015
    Avado was acquired by WebMD in Q4 2013 to take Avado's platform to 156 million consumers and millions of clinicians
  • WhatCounts
    VP Marketing & Sales, 2010 - 2011
  • Accenture
    Senior Consultant, 1987 - 1991
  • Microsoft
    Managing Director, 1991 - 2003
  • Altus Alliance
    Partner, 2004 - 2011
Places
Map of the places this user has livedMap of the places this user has livedMap of the places this user has lived
Currently
Seattle, Wa
Previously
Pasadena, California - Tokyo, Japan - Belmont, California - Portland, Oregon - Seattle, Washington - Sun Valley, Idaho - Edmonds, Washington
Story
Tagline
Family Guy, Healthcare Entrepreneur, Mountain Athlete
Introduction
Grew up mainly in Oregon with stints in California, Washington and Japan. Spent 20+ years in Seattle several in Sun Valley and now back in the lowlands to launch a startup that was acquired by WebMD taking it to 156 million consumers and millions of clinicians.
Bragging rights
Travel to ~40 countries (3 round the world trips), Hang glided in Rio, dunked on a regulation hoop, ran a sub 4:00 mile (downhill :))
Education
  • Northwestern University
    Marketing
    Courses in the Executive Management program
  • University of Washington Business School
    Finance & Mathematics
Basic Information
Gender
Male
Dave Chase's +1's are the things they like, agree with, or want to recommend.
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Health 2.0 just had its largest ever event, with 50 percent more attendees than their previous largest event. A number of companies launched during the

Declaration of Insurance Independence (Part II): Unleash The ...
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Pharmaceutical companies are in trouble with ongoing patent cliffs with a clear choice facing them. They can follow the path of the railroad

Hotwire For Surgery
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The hotel bed that is empty tonight can never be sold again. That insight led Hotwire to create a disruptive model that has given travel

Dave Chase: RIP Marcus Welby, MD
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What happened to the old family doctor represented by Marcus Welby? Insurance killed him.Fortunately, new practice models are changing that.

TechCrunch | Microsoft Ends Another Vertical Market Dalliance—This Time ...
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While Microsoft has been the most successful platform company in history, it periodically has flirted with vertical market-specific business

TechCrunch | To Meme or Not to Meme, That is the (Startup) Question
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Smart B2B companies have long known that winning big was predicated on redefining the rules of competition to your advantage over incumbent

How Microsoft Moved Out Of One Health Business To Protect Another - Forbes
www.forbes.com

Health IT veteran Dave Chase explains Microsoft's latest exit from a health care platform. It's about saving the base business.

TechCrunch | Walmart’s Early Christmas Gift To The HealthTech Community
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Startups thrive on discontinuities and disruption. NPR and Kaiser Health News broke a major story that Walmart intends to become the largest

The Declaration of Insurance Independence
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The scale of the Do-it-Yourself (DIY) Health Reform movement is dramatically bigger than I realized when writing about how that movement cou

mHealth and Data Liquidity
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Andy Palmer, Joris Van Dam and John R Walker on innovation in mobile health apps - and why we need APIs more than Apps.

Escape Fire Artists Will Transform Healthcare - Forbes
www.forbes.com

"Escape Fire" This year's Sundance Film Festival included a documentary, Escape Fire, by Emmy Award winning and Academy Award nominated film