Today on Health in 2 Point 00, Jess and Matthew catch up after HLTH 2021. Some massive deals in Episode 356: Oak Street acquires Rubicon MD for 190 million, 130 in cash; 23andMe acquires Lemonade (a virtual care and drug delivery company) for 400 million – 300 million in stocks and 100 million in cash; Babylon Health’s SPAC deal, 4.2 billion in market cap now; Everlywell acquires Natalist – their third acquisition in 6 months.
Ami Parekh is the Chief Health Officer and Ankoor Shah, is VP, Clinical Excellence at Included Health. I had a long conversation with them about the philosophy of how we are doing population health and how we fix the system that we have today. I’m arguing for more primary care, but Ami restated it and says, you need somone you trust who is an expert who can help you make decisions. And this might not be a human! How do we change the system, and how does telehealth work now and how will it change? Defining health from the person perspective, not the way the health system wants to define it! Matthew Holt
The super connector and super intelligent Emily Peters, (who has quite her own patient adventure story–tl:dr GO GIVE BLOOD) and has written several books including Artists Remaking Medicine, is working on another one called Money Remaking Medicine. She invited me on a show called the Positive Deviants Detectives which is kind of a book club called the Health Care Reinvention Collaborative all hosted by the very wise Dawn Ellison. We talked and the audience joined in about the history of money, HMOs and more in health care and whether we can re-fangle it to make the money do the right things. Matthew Holt
Steve Brown is a genuine digital health OG. Starting with video games for kids with diabetes he eventually turned Health Hero into one of the first disease management companies. It was used in the VA to manage patients at home with CHF, diabetes and more and eventually sold to Bosch. Steve left health care for 15 years, but then at the start of this year had his own health issue. Which turned out to be cancer. He turned to AI and has built an amazing early stage patient facing AI doctor, called CureWise. It essentially has turned LLMs into multiple doctors. He gave me a full and fascinating demo. This is clearly the future but it’s also the present for Steve who is patient zero and the first user as well as the CEO. Amazing stuff. — Matthew Holt
I got to interview V Bento the CEO of Sword Health. We had been in a little back and forth on Linkedin but this was the first time we actually had talked. Almost all of their business is in the US in MSK but they have recently added mental health and V is not shy in talking about the other areas they are heading into. They have had some controversial moments. They just raised money at an amount ($4 Bn) higher than larger rival MSK health outfit Hinge Health is trading at on the public market. Then I used it a year ago via Blue Shield of CA, and found it effective but expensive. Finally, there’s a lawsuit from the folks at Aging 2.0 who claim that they are owed equity from an accelerator Sword was part of in the 2010s. V talked about all of these, specifically about how they are now charging their clients, and why he thinks they are worth their valuation–which apparently has no special terms for general Catalyst which invested at that valuation. He wouldn’t talk about the lawsuit other than to say he was happy with his position. But we had a good discussion and got to hear about their new tech, including their use of AI, and why V is so bullish on the company moving beyond MSK. Matthew Holt
Dominique Wells is COO of Conduit Health Partners which is a spin off from the (now) Bon Secours Mercy Health system. Their role is to provide back up for nursing staff for health systems in very specific areas, notably patient transfer operations, nurse triage and patient communications. Dominique and her team showed me a brief demo of how the transfer operation works. We also got into the conversation about the role of AI in nursing, and how nursing has changed since the pandemic. An interesting discussion about how the most vital role in health care is changing and how new services are being developed to adapt to it—Matthew Holt
We are entering an age of at home testing and the team at Reperio just raised $14m to make weight, blood pressure and cholesterol/blood sugar testing available at home. But this is a relatively complex series of tests, intended to get people who haven’t been to a primary care doctor back into the system. How is the experience and can we expect people to do it? And does the result correlate with standard lab testing? They sent me the box for me to find out. I totally screwed it up the first time (apparently only 4% of people do), but they gave me another chance. So come along with me to find out how it works. Would you do this, or just go to Labcorp?! — Matthew Holt
Anmol Madan is CEO of RadiantGraph. He’s building an end to end solution that goes from data ingestion to applications to consumer connection via text/email and voice in order to let payers quickly roll out patient engagement plans. His idea is that plans/payers don’t need to fix their data, RadiantGraph’s AI can take the messy data and and then add an AI layer, and on that create specific applications–Anmol showed me a comprehensive demo. I also asked him if they are doing too much, or conversely if they need to do more!–Matthew Holt
So I thought I would try a little experiment. Following up on a recent primary care visit I got a couple of referrals. I went investigating as to what I could find out about the where to go and what the cost might be. And what the connection if any between my primary care group (One Medical), the facility and specialists I was referred to, and my health plan, Blue Shield. I hope you enjoy my little tour of this part of the online health system–Matthew Holt
H1 has raised over $200m to build out a very comprehensive data set of physicians internationally. Those products were primarily aimed at pharma. Now they are moving into the world of managing physician data for plans and providers, primarily via the 2025 acquisitions of Ribbon Health and Veda Health. I spoke with CEO Ariel Katz, and he took me through a demo of their system. I’ve had a nerdy interest in physician data for quite a while (I actually sketched out this product on a whiteboard at Microsoft in 2009!!) and what H1 has built is very impressive–Matthew Holt
Dr Kimmie Ng discusses cancer with Dr. George Beauregard. Dr Ng heads the Young-Onset Colorectal Cancer Center, at the legendary Dana Farber Cancer Institute, and she treated George’s son who died age 32. Why are these cancers in younger people increasing so quickly? What can we do about it? What is connecting the environment, the immune system, mental health and cancer? What kind of early intervention can we advocate for? A fascinating conversation between two real leaders in this field.
Last week longtime AmWell CEO Roy Schoenberg announced, in the New England Journal of Medicine no less, that he was building a companion AI for the elderly called Aileen. We took a dive into the state of play for digital health, what happened at AmWell, and what the goal is for the AI companion. It’s early days but Roy has an interesting idea for how AI will work in the future to be the underlying platform to manage the elder consumer experience. Always a great conversation with Roy and this is no exception–Matthew Holt
Owen Tripp is CEO of Included Health. It started way back in the 2010s as a second opinion service but now has added telehealth, continuous primary care, behavioral health and guidance for its populations. He’s taken to calling what they do in one personalized healthcare. Underlying all this is a data integration and analytics platform that’s now being used by some of the biggest employers including Walmart, Comcast, CALPers and more. Essentially Included Health is building the new multi-specialty medical group. Owen and I really got into the details and had a great conversation about how we develop a “3rd way” between the payers and providers–Matthew Holt
Patrick Quigley is the CEO of Sidecar Health. It’s a start up health insurance company that has a new approach to how employers and employees buy health care. Sidecar is betting on the radical pricing transparency idea. Instead of going down the contacting and narrow network route, Sidecar presents average area pricing and individual provider pricing to its members, and rewards them if they go to lower cost providers (who often are cheaper). How does this all work and is it real? Patrick took me through an extensive demo and explained how this all works. There’s a decent amount of complexity behind the scenes but Sidecar is creating something very rare in America, a priced health care market allowing consumers to choose–Matthew Holt
Callisto is a non-profit tech company that helps survivors of sexual violence identify repeat offenders. The company was started a few years back by Jess Ladd and Tracy DeTomasi took over as CEO a few years back, It focuses on college campuses where 90% of assaults are perpetrated by repeat offenders, who on average commit 6 offenses. And 90% of assaults are not reported, Callisto is working providing an anonymous solution with Tracey also giving a demo of how it works. This is a tough conversation about a difficult topic.–Matthew Holt
A couple of weeks back Transcarent completed its $630m acquisition of Accolade. But CEO Glen Tullman calls it a merger for a reason because Accolade brings people, products and clients that Transcarent didn’t have. Glen got in deep about Transcarent’s new product set in terms of its AI fueled navigation, primary care, weight management, cancer care and partnerships. Where is it going in terms of more with employers (yes!), Medicare (not yet) and aggressive expansion of services? And what can employers and their employees expect in terms of improving customer service from the health care system? Glen and his team have a big vision, big capital backing, and he is definitely intending to move the needle on care access, quality and cost.–Matthew Holt
Tom Knight is the Chairman of Healthcare Diversion, a nonprofit that is trying to educate about the topic of drug theft from facilities. This happens both because medical professionals are addicts (and victims themselves) and also because of organized crime and resale. The consequences are awful, with patients receiving water instead of analgesic drugs, getting infections and often dying. And of course there’s a lot of liability and problems for those facilities when these issues are found out. What’s worse is that this problem is rampant. Tom has built a database to show just the tip of the iceberg of the problem. So come on a journey to a terrible health care problem you’ve never thought of that almost certainly affects you–Matthew Holt
I was a little surprised that in the days of limitless content, AI, and all types of medical information being online a company could raise $15m to create a platform where actual doctors could answer specific questions that patients might have. Vikram Bhaskaran, the CEO is ex Pinterest and knows the consumer world well. Rohan Ramakrishna is a neurosurgeon who is worried about the level of misinformation that he saw showing up in his clinic daily. So Roon is trying to build what might be the impossible, a free personalized (mostly video) guide for health powered by the world’s best experts. They gave me a tour of what they have built so far, and it’s both impressive, ambitious and has a way to go. It’s an interesting demo and it raises some interesting questions about how that knowledge will be shared in the very near future–Matthew Holt
There’s a new health innovation law firm in town! Rebecca Gwilt and Kaitlyn O’Connor have started Elevare Law to help health tech companies. We spent a little time talking about the new firm and who it’s going to work with, and a lot about the different legal and regulatory challenges facing digital health companies. Deep dives into the regs around RPM, RTM and more, and also a lot about what we might expect from the FDA and the rest of the chaos in the new Administration. Plus a little about how AI helps lawyers be more efficient and a lot about how AI may or may not be influenced by health care regulation (TL:DL, it’s going to be slow and state by state) –-Matthew Holt
Consensus is taking fax data, received by rural clinics, post acute, substance abuse clinics, home health et al, and helping them put it into their systems of records–which are in general not FHIR-enabled. They allow those facilities and services to receive referrals from acute care hospitals. By 2027 many of these standards are going to need to be FHIR enabled. Bevey Miner, EVP at Consensus, is a health care veteran who is working on both a policy and technology level to improve access to care, and thinks a lot about what unstructured data means in a world where we are trying to use data for AI and more. Super interesting chat about the murky backwaters of health care data and services. As Bevey says, “Not everyone is going to be Epic to Epic to Epic”–Matthew Holt