Tactio Health Group is a world leader in mobile health systems with millions using its flagship TactioHealth Home Health System enjoying the personal and family benefits of being led to live a more active, healthier lifestyle.
Michel is on a mission to provide the world with mobile health systems to guide users into lifestyle changes that will make them healthier, and happier. Focus health areas are Weight Loss, Hypertension, Diabetes, Fitness and Nutrition. Married 25 years, five children, Michel is able to focus his expertise to his worldwide mission thanks to his beloved wife Marie-Josée. Professional Engineer since 1989, winner of several top engineering awards over the years, Michel has been named in the IP Telephony Top 100 World leaders after taking his first software startup to supply the most innovative VoIP Service Quality Management Systems to the world's largest cable operators such as Comcast, CableVision and UPC before selling it to Tektronix in 2006. His family being in healthcare for generations, with renown doctors, dentists, pharmacists and philanthropists, Michel has been hearing and talking healthcare forever. Now with Tactio Health Group, Michel is entirely devoted to his mobile health vision and mission with the genuine contribution of Tactio's world-class software engineers and medical advisory board. Already with millions of users worldwide, with #1, Top 10 & Top 50 ranking on the Medical AppStore in multiple countries, TactioHealth Wellness System is making Executive Health Tracking available for everybody to benefit and enjoy.
Interview conducted by: Lynn Fosse, Senior Editor, CEOCFO Magazine, Published – July 8, 2013
CEOCFO: Mr. Nadeau, would you tell us your vision when you started Tactio Health Group, and where you are today?
Mr. Nadeau: When I started the company, I was coming out of a communication network management experience, and I sold that company to a large operator and manufacturer in the United States. I wanted to use my software skills and network management experience to build something new. I wanted to help healthcare services in terms of access and ability for each individual to self-diagnose and self-manage health care the way the finance industry was changed in the 80’s with the financial software capable to manage your own finances as compared to using different financial advisors previously. That has changed the finance industry greatly, and I think the health care industry is changing as well with all of the biosensors and mobile smart phones. When I founded the company, I had that vision but there were not many products to work with. The iPhone was just as its infancy and the app store was not open to cell phone developers yet.
CEOCFO: Would you tell us about what you are providing today?
Mr. Nadeau: What we provide today is two different types of services. We provide a free service, which is a self-management help application that you can download for free from the app store. It works on the iOS platforms, iPhone, iPad, as well as the Google Android smart phones. With it, you can build your own home health system with off the shelf equipment such as connected scales, blood pressure cuffs, physical activity trackers, glucometers, oxymeters, and so forth. You can build your own system for you and your family, but in this case, the management of health is entirely self-contained. You are not tied into any health care program, and it is not guided or supervised by any doctor, pharmacist or nurse whatsoever. That is the free app model, which anybody can use and download to use as a self health-tracking tool. The other version of it is a professional mobile health solution called TactioHealth RPM that stands for Remote Patient Monitoring. Tactio RPM is sold to health care providers as a way to help manage the patient remotely, whether it is entire families or individuals in different chronic disease conditions such as hypertension, diabetes, weight loss, obesity, or atherosclerosis. They can manage a very vast amount of patients remotely, monitor them at a very low cost model compared to traditional telemedicine solutions, and it brings the economic factor and dynamics of the Internet and the mobile industry into remote patient monitoring. We are delivering a very compelling cost model and comprehensive solution to the patient. The patient can choose the equipment they want and can use their own iPhone or iPad to stay connected with the guidance and health care plan from the hospital, insurance company, pharmacy, or whoever is providing the care and guidance. Tactio RPM offers the patient side that they like, with the experience proven by the sheer number of app downloads, but it also includes the guidance and supervision of health care professionals behind the scenes looking at the patient’s data and providing them with a care plan, diagnostics and related health data such as prescriptions, lab results and so forth.
CEOCFO: How do you reach the medical professionals or whoever you are targeting specifically to use your systems?
Mr. Nadeau: We target the health care organizations with a very wide range of use for our professional solutions. Electronic health record vendors have a lot of interest in the integration of our solutions into their offering, which provides a very complete mobile offering to their users. Their clients are health care providers, hospitals, and large clinics that process electronic health record systems from them. It expands the health records down to the patients. The electronic health records were designed with the physician in mind, while the mobile solution we offer is designed with the patient in mind. We offer many services and guidance for the patients, while improving the care and compliance for whatever treatment or guidance is necessary- we provide a day-to-day guide. EHR vendors, health care providers, hospitals, insurance companies, and pharmacy chains are all targeted, while other applications include corporate wellness, large gym facilities as well as dieticians and fitness professionals. Whoever is in the health, wellness, or care field is in the process of reaching very significant amounts of patients and clients with a health and wellness mobile tracking system like TactioHealth RPM. In this sense, the more you measure the more you are likely to adjust or mass-customize, and we help them do that with a very compelling price model.
CEOCFO: Which conditions do people tend to make the most use with your system, and does the medical community have the same choices as the end user, or are there things that doctors may monitor more so than the patients?
Mr. Nadeau: The most popular conditions are weight loss, hypertension, and diabetes. In terms of cost, diabetes carries a very hefty cost to our healthcare systems. It is a complex disease, it is complicated to live with diabetes, and people with the disease are likely to do many things to make their lives simpler. The use of the guided care plan from their health care provider coupled with the reach, scope and capability to be there 24/7 in their pockets or close to their bed through a smart phone creates a very compelling guidance and assistance for the patient. It helps with a complex disease such as diabetes. Tactio’s mobile health systems technology has the power to bring an entire new disruptive business model, that will foster profound changes to healthcare systems worldwide by reducing the cost of care delivery, opening up the access to care, and reducing hospital readmissions significantly. In addition, it has the potential to drive healthy behavior changes, with the likelihood to delay the entrance into the curative healthcare system we have today. That alone could save billions in healthcare costs. We get many combinations as well, such as people who are obese and have diabetes. The more complicated the combination of diseases is, the more likely they will appreciate having the guidance with them at all times. I use TactioHealth everyday and I have none of these diseases. But it helps me better understand what I should pay attention to live a healthier lifestyle.
CEOCFO: Would you tell us about your competitive landscape?
Mr. Nadeau: The most competitive landscape right now is internal development. In many cases, health care providers see the need to deliver care through a wider scope of patients because costs are too high and often the decision is to buy a solution or build one. Typically, the number one competition is internal development. What we offer is a worldwide proven mobile experience, and a complete solution that keeps
expanding so they can keep the focus on their core healthcare competency while we take care of all the mobile systems engineering issues for them.
CEOCFO: Would you explain your geographic reach?
Mr. Nadeau: Right now, our focus is primarily on Canada and the US, but we have distribution in countries such as Mexico, Australia, and France. We have mostly direct partners selling in the US and Canada, but we use a network of health systems distributors for other countries.
CEOCFO: Would you tell us what you think will be different at Tactio a year from now?
Mr. Nadeau: At Tactio, what might be different is that you will see a lot more partners and connectivity. I think the market is barely starting. It is a market that is not mature at all, and it is still at its infancy but I think we are on the edge of a very large revolution in the way care is delivered and the way patients are guided and treated. I think you will see other domains being served by the same type of technology and mobile health guidance solutions. For example medication adherence for different chronic diseases is a domain where you will see new solutions in a year from now. You may see new biosensors in areas unexploited today like putting a bio-chemical micro lab in a tooth implant for example that would analyze our food in real time removing all the burden of food logging. That would be a grand revolution. You will see biosensor data coming from the NextGen clothing industry, which will enable new forms of patient monitoring in ways that is hard to imagine today. We are building and living the future today and it’s very exciting. We have demands coming from all kinds of places- people with cancer and other types of diseases are looking at mobile solutions as a way to guide the patient. There are many different avenues for growth in the market because it is at a very early stage right now. The more clinical studies that prove the efficiency of mobile solutions to help deliver care to more people at a very disruptive cost model, the adoption rate will go up and the market will foster in many different directions.
CEOCFO: How is business these days?
Mr. Nadeau: It is extremely exciting and very good. The demand is coming from all the markets I’ve described earlier and believe me, there are absolutely no shortage in patients demanding these new services and technologies!
CEOCFO: Why should people in the business and investment community pay attention to Tactio Health Group?
Mr. Nadeau: Tactio is becoming a dominant player in remote patient monitoring, and this is a market that is about to explode. Latest studies predict a yearly market of over $10B in just a few years from now. It will be extremely rewarding both financially and on a personal basis. It is very exciting to build solutions that people love so much that they keep telling us about how much the use of it has changed their lives. It is something that is very personally rewarding to work with, and the millions of users that we have are keeping us alive and wanting us to work more and do more for them. When you build solutions like this, it is different from the traditional health care model. The health care model is centered on the disease and the cure, which is essential of course, but the scope and vision of mobile health is to deliver a system capable of delivering care at a cheaper cost to millions and most of all, capable to drive education and behavior changes, thus making preventive medicine a reality. With, the sheer amount of users I think it will one day be a bottom-up revolution, which might change health care forever by bringing prevention, which is not greatly taken into account by the current health care system, since it is more of a cure system.
CEOCFO: Do you have any final thoughts?
Mr. Nadeau: Growing a business model of prevention today, there is a small amount of money available and it is infinite in the amount for curing diseases. Ultimately, when you look at your money in general, if there was a way to bring back some of that money into prevention we would probably save an enormous amount of money on curing diseases that may have never happened in the first place. This takes more and more large organizations to realize that this might be the place to save, and the place to save is not in adding more money into curing. We have a good curing system, but preventing the diseases from happening in the first place by monitoring behavior and educating. It is all about patient education and showing them how to make healthier choices in their day-to-day lives. The smart phone is there to be with people at all times and sense different things for them as well as bring additional care, guidance, and intelligence in the way or reports, alarms, and reminders. It becomes a social and health companion for them to live a better life and eventually avoid some diseases to live a happier life. There is an enormous potential for a system that will help people worldwide take better care of themselves and their loves ones and ultimately delay or even prevent chronic diseases.