Digital Healthcare Players Set to Profit From Epic’s Open Platform

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Story appears in TheStreet.com
Epic Systems decision to create an open source third-party platform for diversified healthcare applications is the biggest development in the healthcare industry in years, said Steve Krupa, senior managing member at healthcare venture capital firm Psilos Group. Krupa added that the new Epic platform will enable independent developers around the world to write a huge array of healthcare applications which will be linked to the Epic database, which until now has been mostly a closed system. Finally, Krupa said Epic’s publicly traded competitors like Allscripts, Cerner and Athena Health, will likely follow Epic’s lead and develop similar open source software because the opportunity is too big to ignore.

Venture Capitalist on Epic’s Opening Up

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Story appears in TechCrunch.com
In 2015, the consumer will really be in the driver’s seat, and this is especially true in the healthcare world. The Affordable Care Act (ACA), better known as Obamacare, is here to stay. Now health insurers today have little choice but to dramatically revise their 50-year old business models that focused on employer-sponsored group products and focus on the consumers who have so much power going forward. Read More

In Search of a Better Approach to Breast Cancer Screening

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Story appears in XConomy.com
As a venture investor in the healthcare sector, I see a lot of new medical technologies that promise improvement over the current standard of care. Opportunities that represent truly transformational change in medicine are rare, and those that address a major clinical challenge affecting tens of millions of lives are rarer still. Read More

In 2015, Consumer Will Be King in Healthcare

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Story appears in TechCrunch.com
In 2015, the consumer will really be in the driver’s seat, and this is especially true in the healthcare world. The Affordable Care Act (ACA), better known as Obamacare, is here to stay. Now health insurers today have little choice but to dramatically revise their 50-year old business models that focused on employer-sponsored group products and focus on the consumers who have so much power going forward. Read More

VC in 2015: Steve Krupa of Psilos Group on Laments About a Bubble

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Story appears in WSJ.com
Venture capital exploded in 2014, with bigger deals and more eye-popping valuations than anytime since the dot-com boom. So what happens next, and which opportunities will define 2015?

We asked several venture capital investors to reflect on the past year and give us their outlook for the next 12 months. Next in our series is Steve Krupa, managing member of Psilos Group Managers. Mr. Krupa talks about health-care IT, resistance to new health-care IT infrastructure and laments about a bubble. Read More

As Health Care Shifts Toward the Consumer, Here’s Where the Investor Opportunities Are

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Story appears in VentureBeat.com
The health insurance industry’s legacy business-to-business model of the past half-century is on the brink of irrelevance. The Affordable Care Act created the opportunity for individuals to shop for insurance directly on public healthcare exchanges. Employers are jumping on the bandwagon by moving away from group coverage toward defined contribution models that also send people to an exchange to buy their own health insurance. This new market dynamic, where individual consumers now prevail, will be highly disruptive. At the same time, we’ll see excellent opportunities for venture investors and emerging technologies. Read More

Psilos Group Aims for ‘Consumer-Centric’ Health Insurance Technology

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Story appears in WSJ.com
Health-care investor Psilos Group has been closely monitoring the health-insurance business for the past 16 years, and he says the industry is moving toward a new paradigm.

The passage of health-care reform, which brought millions of new consumers into the system and mandated that insurers find a way to cover everyone, only accelerated a trend that was already happening, Psilos Chief Operating Officer and Managing Member Stephen Krupa said. Read More

Insurers Must Change – and Embrace mHealth – To Survive

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Story appears in mHealthNews.com
A major healthcare investment firm says the insurance industry will have to abandon its 50-year-old business plan and embrace mHealth, among other changes, to survive.

The key to that transition lies in the shift to consumer-directed healthcare. According to Steve Krupa, managing member of the New York-based Psilos Group, insurers need to ditch their “business-to-business” model and target two new partners: the individual consumer and the healthcare provider.