Dr. Michael Fang: Data and Precision Medicine

In Game Changers 17by Mary KurekLeave a Comment

Michael is a physician entrepreneur with a passion for data-driven health innovation.  He is currently Co-Founder and CEO of Base10 Genetics, LLC.   The company was created to fill the chasm between genetics testing and consumer health outcomes. Michael was the founder of CETA Inc., a health information technology company that was ranked #297 on Inc. Magazine’s 5000 fastest-growing private US companies in 2015. He was also the Co-Founder of IMOSPHERE, where the population health analytics software he co-created is now used by the NHS to track healthcare costs of over 7 million mental health patients in the UK. Most recently, Michael served as the Chief Medical Officer for ORIG3N Inc. and was part of the core leadership team that led the company through successful venture-backed rounds.

Michael graduated from Northwestern University Feinberg School of Medicine and completed his training in internal medicine and geriatric medicine at the Medical College of Wisconsin.


Q & A with Michael:

Q:  You are all about expediting innovations toward market; how is it that a physician has figured out how to do this?

A:  I’m a geriatrician who wondered why, when we have all of these great new technologies, that it is taking so long before these solutions get paid for by insurance companies and thereby, accessible to patients. I determined it is because insurance companies don’t know how to introduce these solutions into their model.  I realized that if we could get them to look at what proven technologies today are doing and how they are preventing issues in the future, they’d be able to see how they will save money. They need data for this – the right data. I co-founded Base10 Genetics on the premise that we use data to help get new technologies adopted faster. 

Q:  Are you a genetics or a data company…or both?  What do you do to create the opportunity for insurance companies to give you the “yes, we’ll cover it?”

A:  Our core is data.  We know that data is the answer.  It helps you manage a population better.  We introduce genetics as a co-offering (data assessments).  We utilize precision medicine and big-data to achieve improved health and financial outcomes. So, the questions that have to be answered before an insurance company will pay have to do with who is administering the tests, treatments, follow-ups, and tracking.  We simply handle all of that with personalized optimized health management through a one-of-a-kind genetics-based medication and nutrition health program. My thought is if we can catch something early enough and prevent it from getting worse or even saving a life – that’s dollars saved and proof for getting insurance companies to pay for screenings.  We call it a “risk pool model.”

Q:  What is the specific way in which your program helps diabetics?

A:  Our Precision Medicine Program for diabetics includes the genetic assessments, plus a full year’s worth of diabetic coaching from a degreed professional at a cost of $750.  The assessments get you to specific medical and health treatments. The extended coaching helps you make the lifestyle transition that is necessary to become healthier, require less medication, avoid ulcers and amputations, and therefore, creates serious cost savings for insurance companies.

Q:  Your company is fairly young, but, you’re already working with insurance companies; what impact are you seeing so far?

A:  Since we’ve launched our precision genomics program, we have started working with 6 health plans.  Collectively, those plans impact 44 million lives. Of those, 1.7 million are health plan clients that have been approved for our services.  This is true democratization. What we are seeing specifically is a 5-10% reduction in obesity resulting from improved management within 6 months.  We are seeing more normalization of blood pressures and a decrease in medications needed of about 30% within a few months.


Michael’s Networking Interests:

  • Medical and life science innovators, ready to launch technologies, interested in entering the US market.
  • Investors who are interested in the intersection of genomics and data.
  • Payors of corporate self-insured policies looking to implement cost-saving measures.

Contact:

Linkedin:  https://www.linkedin.com/in/michael-fang-md-382b2341/

Website:  https://www.base10genetics.com/

 

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