There's a new player in the health care venture capital world: the National Business Group on Health.
NBGH was formed several years ago as a voice for large businesses in the national conversation to develop ways to rein in runaway health costs. As NBGH has evolved, it's taken on a larger role in both advocating for change in the health industry and finding ways for businesses to address escalating costs.
Its latest effort is the Health Innovations Forum, which it characterizes as a sort of "Shark Tank" to identify startups in the health industry that could offer significant contributions to the way health care is delivered.
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The forum will act as a screen for startups, and as a way to connect them to the venture community. Startups can apply for inclusion in the forum, where they can present their business plans for review by a panel of large employer representatives. Those that make this first cut are then offered the opportunity to present to the Forum's Employer Council.
Those selected as viable solution providers will then be able to partner with the council's members where their products and services will be thoroughly tested. Ultimately, those offering the greatest promise will enjoy inclusion in conferences, forums and webinars hosted by the NBGH.
"There has been significant growth in the number of innovative ideas to enhance employee health and improve the health care delivery system, and many of these ideas are coming from sources outside the health care industry," said Brian Marcotte, NBGH's president and CEO.
The Health Innovations Forum is as an excellent way to give startups exposure to employers and to have their solutions evaluated directly by individuals who are in a position to gauge how applicable the technology or solution will be to large companies and how beneficial they will be to their employees."
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Dan Cook
Dan Cook is a journalist and communications consultant based in Portland, OR. During his journalism career he has been a reporter and editor for a variety of media companies, including American Lawyer Media, BusinessWeek, Newhouse Newspapers, Knight-Ridder, Time Inc., and Reuters. He specializes in health care and insurance related coverage for BenefitsPRO.
