Overseas Internet Medical Entrepreneurship Case AliveCor

AliveCor is one of the few FDA-approved digital healthcare companies in the last two years. AliveCor is a start-up company founded in 2011 to serve people with poor heart function. Because it involves the field of medical equipment , AliveCor as a digital technology company must get through the FDA approval process to truly enter the target market. In the field of ECG monitoring, there are actually many traditional medical equipment companies online. As a startup that carries the mobile Internet gene, AliveCor, how to establish a moat is not easy. In the past three years, its development history is worthy of reference for similar Internet medical entrepreneurial teams. The arterial network has made in-depth analysis.

Cutting-edge product design and technology patents

Simply put, AliveCor is an electrocardiogram measurement (ECG) device that combines with a smartphone. You can use AliveCor to know the rhythm of your situation anytime, anywhere, and record it on your smartphone. The user simply opens the application AliveECG, holds the phone in his hand or puts it on his chest for 30 seconds. The application automatically records and uploads the recorded ECG index to the AliveCor server. Looks amazing? Don't be silly, you can't do it with your smartphone, which requires a sensor kit designed and manufactured by AliveCor. It is an accessory that looks like a phone case and can be carried around the phone and ready to use. In January 2011, AliveCor made its debut at the CES Consumer Electronics Show. At that time, this design idea was still at the forefront, and it was immediately noticed. In the same year, Sanofi launched the mobile blood glucose meter iBGStar is also the same design idea. (For a detailed case study on the Sanofi iBGStar Arterial Network, please see here)

The author found that a design similar to this that can be integrated into a mobile phone as a mobile phone is now very popular in the mobile medical field, and more and more medical device companies have released such products. In fact, the core technology involved in this design is sensor technology, which is based on this. Even the iPhone cannot provide such medical monitoring functions directly. In fact, as early as the iPhone was not born in 2005, AliveCor co-founder Kim Barnett began working on related ECG medical equipment, and eventually she and her friends have patents related sensors and wireless devices in this field. Therefore, people have independent technology, which is one of the thresholds.

There is a convincing technical patent that is always convincing. In August 2011, AliveCor raised $3 million in Series A financing, not too much. The round of financing was provided by Burrill & Company, Qualcomm Ventures, and Oklahoma Life Science Fund. In June 2012, three investors and Khosla Ventures added another $10.5 million in Series B investment.

AliveCor has put a lot of effort into clinical trials and published relevant research in professional academic conferences and academic journals. AliveCor's official website has a section on Research to showcase these studies. For example, before entering the Australian market, AliveCor conducted a clinical trial, recruiting 1,000 patients over the age of 60 from 10 pharmacies in Australia, each of whom received a 60-second ECG monitoring report, uploading data. And analysis, in addition to two cardiologists to review the data, and found that many of them have heart problems that have not yet been diagnosed.

Focus on the doctor community

In August 2012, Aliverco launched the Alce ECG Vet, an ECG monitoring app for pets. It is equipped with Alierco mobile phone accessory equipment, which can be used for cats, dogs and horses. At this time, Aliverco's equipment has not yet passed the FDA approval, so the products for pets should be introduced to the market earlier than the products used by the human body.

It was not until December 2012 that AliveCor was officially approved by the FDA. At this time, AliveCor began to pre-sell the device for doctors, and the purchaser must provide proof of medical qualification. AliveCor put the market's goals on the doctor. AliveCor hopes to convince doctors to try it out, and then use it as a prescription to start their heart disease patients. The price of the patient's recommended equipment purchased by the doctor is originally planned to be around $99. When it was finally introduced to the market in March 2013, the price directly offered by the official website was $199. AliveCor has sales licenses in the European market and has said it has already promoted their products in some high-end areas.

For the doctor to use, the AliveECG App is a convenient dashboard for healthcare providers. This is a web-based application that helps doctors view patient ECG data, and each connected patient data is automatically presented, with each patient having a record. The following is the main interface of the AliveECG doctor.

Although AlierCo believes that the main target of their sales is doctors, they still sell their products to all users from various channels.

In October 2014, Alivecor began to apply to Greatcall, a handset manufacturer targeting the elderly market. In December 2014, Alivecor began working with Omron, a well-known medical device company, to sell Alivecor's ECG monitors through Omron's channel. Channels for selling Omron medical devices today include: Omron Online Store, Chain Pharmacy Rite Aid, Walgreens, Retail Giant Target and Wal-Mart.

The $199 equipment cost is not cheap, and Alivecor had hoped to continue to reduce costs and lower equipment costs. The profit model designed by AliveCor is more likely to be transformed into a razor mode. For example, if you buy AliveCor monitoring equipment with a very low architecture, you feel good during the process. Sometimes you need to check if the monitoring data is abnormal. This is like buying music or games online. You spend 0.99. ~1.99 yuan, AliveCor will provide you with a check result. For people with heart problems, it is very important to have a peace of mind, and you will be willing to pay for it. AliverCor believes that even without Medicare reimbursement, people will gradually accept this way of spending on health. Compared with the cost of reality, for example, if you think that your heart has some problems, you took 100 knives to go to the hospital for examination. In the end, it was found that it was not serious, but the 100 knives have already been spent, and only solved the next time. Sexual problem. Even if this check has a part of Medicare reimbursement, you still need to spend a portion of it, and in a few times it will cost more than buying AliveCor.

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