This Week Health

Connecting health systems with pharma and life sciences can be daunting, this is where companies like Sensyne Health come in. This is a hot space and Derek Baird lays out the landscape.

Transcript
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Today in.

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Health it interviews from the health conference in Boston

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My name is bill Russell.

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I'm a former CIO for a 16 hospital system and creator of this week and

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health it a channel dedicated to keeping health it staff current and engaged.

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Just a quick reminder, I'm going to be dropping interviews

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over the next couple of days.

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And into next week from the floor of the health conference.

Bill Russell:

All right.

Bill Russell:the health conference, health:Bill Russell:

And we're joined by Derek Baird, who is the president of north

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America first, since I know.

Bill Russell:

Welcome.

Bill Russell:

Yeah.

Bill Russell:

Thanks bill.

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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

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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

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the end of the day, help patients live healthier and better lives.

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Talk about how the data is used.

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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

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the intellectual property lie.

Bill Russell:

So if you co-developed stuff with Sentara, does the intellectual property

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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

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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

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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.

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What's what is this conference about?

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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

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other conferences, they're so big, you don't, you don't see that ecosystem

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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 that might be news from: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:ast what's going to happen in: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.

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Maybe it's maybe a little smaller, but you're helping companies like yours.

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With their strategy, plugging into digital strategies at health system

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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.

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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.

Bill Russell:

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Bill Russell:

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