HHS Deputy Secretary’s Innovation and Investment Summit (DSIIS): Frequently Asked Questions
Q1. What is the Deputy Secretary’s Innovation and Investment Summit?
DSIIS is a yearlong effort to bring private sector and HHS leaders together to focus on ways to accelerate innovation and increase investment and increased innovation within the healthcare sector. The DSIIS will invite a range of healthcare innovators and investors to compare perspectives, analyze the most promising opportunities, identify barriers and discuss the role government can play in improving investment and innovation in healthcare to enhance the health and well-being of the American people.
Q2. Can you provide more information on what type of person HHS is looking for as “core participants” in DSIIS?
HHS is looking to gather a group of leaders who have significant experience covering the following areas:
- Healthcare subsectors such as payer/services, provider/facilities, biopharma/life sciences, devices/health IT
- Stages of innovation and investment throughout the R&D process – including seed funding, venture capital, private equity, etc.
Individuals don’t need to cover all these areas, but any individual who is a leader in a combination of these subsectors, stages, and types of investments may be a good fit for DSIIS.
Applicants will be evaluated by HHS based on:
- Areas of educational focus and academic experience;
- Executive or other organizational leadership experience;
- Private equity experience;
- Venture capital experience;
- Lending experience within the healthcare sector;
- Other applicable experience, expertise, knowledge and leadership in innovation and investment in the healthcare sector.
Recommendations will be considered individually but also relative to the total group of applicants to ensure a balanced and diverse group is gathered.
Q3. What type of experience is preferred for core participants?
There is no rule that someone has to be at the highest levels of executive leadership. The goal is to bring together individuals with experience in building, developing, or innovating within a healthcare company, health system, or startup environment; experience in investing, buying, lending to or resourcing startups, joint ventures, companies, R&D projects, in the healthcare sectors; medical, legal, operational, administrative or governmental experience in the healthcare subsectors and investment and innovation stages; the ability to bring together subject matter experts and operators on specific healthcare related topics.
Q4. Are there other ways to engage other than as a “core participant”?
Yes, we are also looking for subject matter experts who would like to participate if a certain issue or topic becomes a main area of conversation. For these individuals we recommend they make a DSIIS recommendation on a topic or subject of focus and an individual who has significant experience and a deep understanding of the topic. These recommendations should also be submitted to [email protected] by October 12, 2018 with “Topic and Subject Matter Expert Recommendation” in the subject line.
Q5. When will decisions be made on the participants and will that information be made public?
We are accepting applications through October 12, 2018 and hope to have the core participants selected by November 16, 2018 with the first meeting to be held before December 20, 2018. Subject Matter Experts will be asked to join on an as needed basis in conjunction with topics of discussion.
Q6. What does success for this effort look like?
Our first measure of success will be convening a group of leaders from the private sector and HHS together to discuss innovation and investment in healthcare. Sharing perspectives on the existing opportunities and barriers will inform HHS’ goal of accelerating innovation and increasing investment in the healthcare sector. Lastly, success will be the development of a readout of each meeting based on the DSIIS for the industry to review, digest and provide feedback.
Q7. How much time commitment do you expect from DSIIS participants? Will participants be compensated and/or reimbursed?
In total, DSIIS core participants should expect to spend 24-30 hours per quarter during the yearlong DSIIS collaboration (combination of virtual and in-person). Participation in DSIIS is voluntary. Participants will not be compensated or reimbursed.
Q8. Is HHS committing to making new healthcare investments based solely on input from this group?
This group will not be recommending or giving any direction on healthcare investments made by HHS. HHS is looking to engage with this group to better understand the innovation and investment landscape, and the opportunities, barriers, and misunderstandings that exist so HHS can facilitate accelerated innovation and more investment in the healthcare sector. This is an attempt by HHS to get a broader set of perspectives on how healthcare innovation [and investment happens, and the respective roles of innovators and HHS in that process. Additionally, DSIIS seeks to discover new ways the Department and the private sector investment community can work together to further advance healthcare innovation which is critical to improving the health and well-being of the American people, HHS’s core mission.
