Today in.
Speaker:Health it interviews from the health conference in Boston
Speaker:My name is bill Russell.
Speaker:I'm a former CIO for a 16 hospital system and creator of this week and
Speaker:health it a channel dedicated to keeping health it staff current and engaged.
Speaker:Just a quick reminder, I'm going to be dropping interviews
Speaker:over the next couple of days.
Speaker:And into next week from the floor of the health conference.
Bill Russell:All right.
Bill Russell:We're at the health conference, health 2021 in Boston.
Bill Russell:And we're joined by Derek Baird, who is the president of north
Bill Russell:America first, since I know.
Bill Russell:Welcome.
Bill Russell:Yeah.
Bill Russell:Thanks bill.
Bill Russell:Waiting for it.
Bill Russell:Yeah.
Bill Russell:Looking forward to the conversation.
Bill Russell:The last time we saw each other, you were actually, uh, with a different company
Bill Russell:you're working with with Avia and he made the transition to, uh, to this role.
Bill Russell:Tell us, tell us, let's start with, since I know.
Bill Russell:About the
Derek Baird:company.
Derek Baird:Yeah, sure.
Derek Baird:Uh, so I, yeah, I joined I health about 10 months ago, uh,
Derek Baird:to build up the U S operation.
Derek Baird:So the company actually has its roots in the UK, uh, specifically in Oxford.
Derek Baird:So about what about the past four years?
Derek Baird:We've been building up a clinical AI shop there in the UK, working
Derek Baird:with the, uh, NHS hospital trusts and with life sciences company.
Derek Baird:So we brought that model with the U S I came on to build out the team and
Derek Baird:land our first set of partnerships here and, um, adapt the UK model
Derek Baird:for, uh, for us quirky Americans.
Derek Baird:And so far it's working well.
Derek Baird:It's,
Bill Russell:I mean, it's a, it's a data play, right?
Bill Russell:So it's, it's using data for research using data to, I guess, at
Bill Russell:the end of the day, help patients live healthier and better lives.
Bill Russell:Talk about how the data is used.
Bill Russell:What, what sets you guys
Derek Baird:apart?
Derek Baird:Yeah, that's right.
Derek Baird:I mean, as a, as a clinical AI company, you need data on which to
Derek Baird:do your, your machine learning work.
Derek Baird:And so, um, so yeah, we apply our clinical AI magic in two markets.
Derek Baird:One is for life sciences companies.
Derek Baird:So they're the, you know, the, the benefit is to support.
Derek Baird:Faster smarter, hopefully less expensive development of new medicines.
Derek Baird:And then, uh, you know, given we've got 40 plus PhDs who love doing
Derek Baird:machine learning work, um, and 15 health systems across the world,
Derek Baird:who've entrusted us with their data.
Derek Baird:It also makes sense that we're developing algorithms and predictive
Derek Baird:models to support patient care as well.
Derek Baird:So we're working in life sciences and healthcare with, uh, Clinical AI
Derek Baird:foundation underpinning all that work.
Derek Baird:So
Bill Russell:what partnerships are you looking to develop?
Derek Baird:Yeah, a few different types.
Derek Baird:So if you look at the recent partnerships here in the U S so our,
Derek Baird:our first, uh, partner was the Colorado center for personalized medicine.
Derek Baird:And then, um, we announced, uh, St Luke's university health network.
Derek Baird:Most recently, Sentara health care for them.
Derek Baird:We're doing either one or both of the things I just.
Derek Baird:So I'll, I'll use Sentara, which is the most recent announcement.
Derek Baird:So they're entrusting us with de-identified clinical data
Derek Baird:from their data warehouse.
Derek Baird:Right.
Derek Baird:We then use that data set to support the research work that we
Derek Baird:do for pharma and biotech firms.
Derek Baird:Uh, and you know, that's all done in a trusted, you know, transparent, ethical
Derek Baird:environment, which I can tell you more.
Derek Baird:Um, and so for Sentara, it's a way for their data to be used, uh, to
Derek Baird:support my sciences development.
Derek Baird:Um, we're also with Sentara co-designing new clinical algorithms to support
Derek Baird:patient care within the health system.
Derek Baird:So we're working with their physicians, their it leaders to develop new predictive
Derek Baird:models, uh, in CKD and heart failure.
Derek Baird:So again, it all rests on.
Derek Baird:On the data that they're entrusting us with, uh, and then working on both sides,
Derek Baird:uh, uh, health sciences and healthcare, or life sciences and healthcare.
Derek Baird:So
Bill Russell:where does, and I'm going to be here, but where's
Bill Russell:the intellectual property lie.
Bill Russell:So if you co-developed stuff with Sentara, does the intellectual property
Bill Russell:lie with the software and the company, or does it lie with the health system?
Derek Baird:Yeah.
Derek Baird:Yeah.
Derek Baird:Well, that's why, that's why I said co-design rather than co-developed so.
Derek Baird:Um, so yeah, we're, we'll eventually commercialize and, and, uh, and
Derek Baird:productize these, these algorithms and models, assuming it works.
Derek Baird:And we're doing this with a set of design partners here in the us,
Derek Baird:and that'll be, that'll be sense.
Derek Baird:Those are send signed products and send sign IP.
Derek Baird:Um, obviously there's some benefit to Sentara and the other design partners
Derek Baird:and being able to participate in the design and the implementation.
Derek Baird:Roll out of these models.
Bill Russell:So where do people put this in their mind with say a true Veda
Bill Russell:or, uh, an epic, uh, cosmos or something
Derek Baird:to that?
Derek Baird:Yeah, I mean, it's funny the, uh, you know, we're in a really hot space, right?
Derek Baird:Real world data and to
Bill Russell:be in a hot space and it's, it's not so great.
Derek Baird:We'd rather be in a hot, noisy space than
Derek Baird:a cold, lonely, quiet space.
Derek Baird:So we are in a weird, a very hot, um, you know, uh, space where it's the competitive
Derek Baird:landscape is a set of concentric circles rather than some nice clean quality.
Derek Baird:Correct.
Derek Baird:One of the things
Bill Russell:I could see happening is an organization getting lost
Bill Russell:in the true Veta ecosystem, right?
Bill Russell:Yeah.
Bill Russell:They're going to be developing things, but when things get big, it slows down.
Bill Russell:Same thing with epic.
Bill Russell:When things get big, they slow down for yours specific use cases that you want to.
Bill Russell:And it would, it would appear to me, I'm not telling you what your business
Bill Russell:is, but it would appear to me that your benefit is if I partner with you in
Bill Russell:the us, I'm one of a handful you guys are going to come in and partner with
Bill Russell:your 50, some odd, uh, data scientists, and really partner with me on my
Bill Russell:specific use cases for my community.
Bill Russell:That sounds
Derek Baird:like a really smart strategy.
Derek Baird:So you just go with the smart strategy.
Derek Baird:I mean, yeah.
Derek Baird:We're, we're, you know, Young, nimble hungry.
Derek Baird:And you know, I think our model for engaging with health systems stands
Derek Baird:out versus, well, it certainly stands out versus big tech, right?
Derek Baird:It stands out versus the three guys in a garage in Paducah.
Derek Baird:No offense to your Kentucky listeners.
Derek Baird:And I think it stands out versus some of the other entities where you're
Derek Baird:one of dozens of health systems.
Derek Baird:I think you're absolutely right.
Bill Russell:Yeah.
Bill Russell:It's going to be interesting.
Bill Russell:So this conference, you've been to a lot of different conferences.
Bill Russell:What's what is this conference about?
Bill Russell:I I'm trying to, you know, I did my first post this morning, I'm talking
Bill Russell:to my listeners and I'm like, you know, this conference is mostly investors,
Bill Russell:pharma, biotech, and, but not a lot of healthcare providers that I've seen here.
Bill Russell:Um, why is that and how does that change your approach to.
Derek Baird:Yeah.
Derek Baird:I mean, you're right.
Derek Baird:It's a different mix than some of the other conferences that are, you
Derek Baird:know, where, where the bulk of the attendees are health systems or vendors
Derek Baird:trying to sell the health systems.
Derek Baird:Right.
Derek Baird:So it's definitely a different mix here.
Derek Baird:Um, although there, I mean, there are several hundred health system
Derek Baird:attendees here, so I wouldn't say they're totally underrepresented.
Derek Baird:Um, but,
Bill Russell:but it's mostly their investment, their
Bill Russell:deal-making arms and that.
Bill Russell:Um, I, I find this conference interesting because in a lot of those
Bill Russell:other conferences, they're so big, you don't, you don't see that ecosystem
Bill Russell:at work, but it's a big ecosystem.
Bill Russell:Yeah.
Derek Baird:Yeah.
Derek Baird:I, you know, I think this one for me stands out because of the investor
Derek Baird:bent, you get to look around the corner a little bit more, right?
Derek Baird:So some of the other conferences you're looking back at case studies
Derek Baird:and implementations, and that might be news from 2018, that's
Derek Baird:finally making its way up on.
Derek Baird:Onto the stage here.
Derek Baird:You're getting a lot more through the lens of people who are trying to
Derek Baird:forecast what's going to happen in 2025.
Derek Baird:And I think that balances out some of the other views and news that we get.
Bill Russell:So take me through the transition Avia to president of sensei.
Bill Russell:So Avia you're essentially helping companies like yours.
Bill Russell:Maybe it's maybe a little smaller, but you're helping companies like yours.
Bill Russell:With their strategy, plugging into digital strategies at health system
Bill Russell:menu, take this leap, but what does it look like from, from the other side?
Derek Baird:Well, um, for me, I feel really fortunate because my time at ABI
Derek Baird:had gave me a chance to get to know a lot of the senior executives in health
Derek Baird:systems, yourself included at the time.
Derek Baird:And, uh, And gave me a really great catbird seat on all things
Derek Baird:going on digital health and, and, um, that's how I ended up in a
Derek Baird:hot space within digital health.
Derek Baird:I had a pretty good view of, of the
Bill Russell:you, the pitch you got to, you got to pick the space that you're
Bill Russell:like, Hey, that space is going to be high
Derek Baird:and you were right.
Derek Baird:Yeah.
Derek Baird:Yeah.
Derek Baird:And, um, in the last 10 months, I've definitely borne that out.
Derek Baird:I think what a lot of people thought was, oh, well, Derek's going to
Derek Baird:immediately call the, you know, does.
Derek Baird:Health system exacts that he knows and, and work the address
Derek Baird:book as fast as possible.
Derek Baird:And, and, uh, you know, when I came on board, I said, look, we've got,
Derek Baird:uh, we've got, uh, uh, we need to find the right model in the us.
Derek Baird:And we've got, uh, you know, we've got to go on an intentional road show
Derek Baird:with health systems to figure out.
Derek Baird:What they're comfortable with in terms of providing data to support pharma
Derek Baird:research and what the right model is to work with them on clinical AI.
Derek Baird:And that took six months to really dial in.
Derek Baird:And now that I know we're really onto something now, you know, we're in
Derek Baird:talks with, with many of my former former clients and just, you know,
Derek Baird:friends in the industry and future.
Bill Russell:Yeah.
Bill Russell:Last question.
Bill Russell:Roots in the UK.
Bill Russell:I mean, there's obvious differences between the UK payment models and that
Bill Russell:kind of stuff, but are there, it would seem to me from a clinical research
Bill Russell:and that kind of stuff, that it would be pretty common between the two.
Derek Baird:Yeah, it is.
Derek Baird:And, and, uh, yeah, that was an unknown for me.
Derek Baird:I didn't know, know whether the model here would need to be 80%
Derek Baird:different than it was in the UK.
Derek Baird:I knew it wouldn't I knew it wouldn't be identical.
Derek Baird:And I think it's ended up being about 25% different and that's
Derek Baird:in areas like, well, in the UK, we were working with a government
Derek Baird:entity under the banner of GDPR.
Derek Baird:Right.
Derek Baird:Um, but I actually think starting there and having to work with the
Derek Baird:government in it, in a, in a market where privacy protections and regulations
Derek Baird:are, are more current and better established than they are here with.
Derek Baird:When we did come to the U S we looked, you know, I think quite buttoned
Derek Baird:up conservative and thoughtful about all these, all these issues.
Derek Baird:So it ended up being a feature more than a bug for us, which, which has been nice.
Bill Russell:Fantastic, Derek.
Bill Russell:Great.
Bill Russell:Sit down with you and, uh, best of luck.
Bill Russell:Yeah.
Derek Baird:Thanks bill.
Derek Baird:Appreciate it.
Bill Russell:Check back for Morris.
Bill Russell:The, we continues.
Bill Russell:A lot of great interviews, a lot of great conversations.
Bill Russell:I'm looking forward to sharing them with you.
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