How do you turn a medtech company into a digital health company? Find out from President Sleep Business ResMed Jim Hollingshead at Medtech Rising. He has helped grow the business to reach 120 countries with 4 million connected devices.
ResMed devices are cloud-connected, sharing actionable data with clinicians and patients themselves to improve their therapy experience, adherence, and overall health. Their mission is to change 20 million lives by 2020.
ResMed’s comprehensive out-of-hospital software platforms support the professionals and caregivers who help people stay healthy in the home or care setting of their choice. By enabling better care, they improve quality of life, reduce the impact of chronic disease and lower costs for consumers and healthcare systems.
Jim joined ResMed in 2010 and has helped to create a transformative strategy as the leader of the corporate strategy team, and then execute it as the leader of the Americas region, then the company’s largest commercial operating unit.
Beginning in late 2011 ResMed began the process of developing a strategy to transform their business – and the sleep therapy industry – by introducing built-in communications on all of their medical devices, coupled with cloud-based business process automation applications that would help customers grow revenues while also cutting costs.
Thanks to Jim’s leadership, ResMed is now among the world’s leaders in digital health, and has an expanding portfolio of device + SaaS based offerings expanding his geographic scope to include Europe and Japan, and expanding his responsibilities to include R&D and product development for all sleep offerings globally. Jim sits on a number of boards including SleepScore Labs, Pegasus Capital and Oz Media.
He also brings nearly 20 years’ consultancy experience working in biotech, high tech and telecoms having worked for the Monitor Group which was founded in the Harvard Business School and Deloitte Consulting with stints in Los Angeles, New York, Boston, Istanbul, London and San Francisco.
The Digital Health Journey
ResMed is pioneering the future of healthcare with smart devices and digital solutions for each step of the patient’s treatment cycle. The company started on this journey many years ago when they it began to explore ways to access patient’s behaviour in the home. Then in 2014 the company invested in putting wi-fi comms in each one of their devices, so that they could guarantee reliable secure and accurate information from the home on patient’s real-world behaviour. Once that data was in the cloud, it offered the opportunity to innovate and find new ways to diagnose, treat and manage healthcare – both for the patient and for the care providers.
Jim has been at the forefront of driving the connected journey and ResMed’s business strategy to improve healthcare and create efficiencies in the manner in which it is delivered. And the efficiencies are many
- An increased capacity to handle new patients
- A focus on the patients who need support
- A reduction in the cost of care
- Optimisation of time needed to explain device use etc
- Easy access to reports for physicians and insurers
- A reduction in the need for physical visits
Jim will share his hands-on experiences of ResMed’s journey that has now seen the company become a €2.6 billion dollar business. Don’t miss it!