Transforming Healthcare with AI

 

In a recent episode of "The Thoughtful Entrepreneur," host Josh engages in a thought-provoking conversation with Areo Nazari, the co-founder and CEO of CaryHealth. The episode delves into the evolving landscape of the healthcare and pharmacy industry, with a particular focus on the specialty pharmacy sector. Areo shares valuable insights into CaryHealth's innovative approach to digital pharmacy, the integration of AI technology, and the company's strategic shift from a B2C to a B2B model. This blog post will break down the key themes and actionable advice from the episode, providing a comprehensive guide for listeners and readers interested in the intersection of healthcare and technology.

CaryHealth operates within a significant segment of the pharmacy industry, generating approximately $500 to $600 billion in revenue. Notably, around 70% of this revenue comes from specialty pharmacy, which deals with high-cost medications, often exceeding $1,000 per unit and reaching up to $1 million for advanced therapies like gene therapy. CaryHealth specializes in limited distribution drugs, which are typically not available at standard pharmacies like CVS or Walgreens. Instead, these medications are managed by specialty pharmacies, such as CaryHealth, that have the capability to handle these unique and often complex drug therapies. CaryHealth has established partnerships with regional health plans, such as CareFirst Blue Cross Blue Shield, and focuses on serving Medicaid and Medicare patients. Areo emphasizes the importance of quality measures in these programs, which assess how well health plans are performing in terms of patient health outcomes. This focus on quality and patient care is a cornerstone of CaryHealth's mission.

One of the standout features of CaryHealth's digital pharmacy platform is its proprietary AI model named Claire. This AI-driven clinical reference tool allows healthcare providers to access a curated database of clinical studies, drug interactions, and FDA labels, ensuring that they receive evidence-based answers to their clinical questions. Areo highlights several key benefits of integrating AI into healthcare practices, including providing a reliable source of information, enhancing efficiency, and supporting clinical decision-making. By leveraging AI, CaryHealth aims to improve patient outcomes by providing healthcare providers with the most up-to-date information and recommendations. This episode provides valuable insights into the challenges and innovations within the specialty pharmacy sector, highlighting the role of technology and strategic partnerships in improving patient care and healthcare delivery. Areo Nazari's journey with CaryHealth serves as an inspiring example of adaptability and forward-thinking in the ever-evolving healthcare landscape.

 

About Areo Nazari:

Areo Nazari is a seasoned professional with experience in the healthcare industry. From 2010 to 2013, Nazari held the role of Pharmacist in Charge at Rite Aid. From 2013 to 2017, Nazari worked as an Executive Team Leader - Pharmacy at Target. Since 2017, Nazari has been the Co-Founder & CEO of CaryHealth.

Areo Nazari completed a Doctor of Pharmacy degree from the University of Maryland Baltimore in 2011. Prior to that, they obtained a BS in Biology from the University of Maryland in 2005.

 

About CaryHealth:

CaryHealth is redefining the digital health landscape through its innovative AI-driven ecosystem, designed to optimize outcomes for the healthcare industry's key players, including pharmaceutical manufacturers, health plans, and health systems. With a suite of advanced solutions, such as OneDash, Clair, CaryConnect, and CaryRx, CaryHealth enhances the pharmacy experience, offers cutting-edge AI tools, and delivers real-time data insights. This approach underscores CaryHealth's commitment to advancing healthcare efficiency and effectiveness through their platform.

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Links Mentioned in this Episode:

Want to learn more? Check out CaryHealth website at

https://www.cary.health/

Check out CaryHealth on LinkedIn at

https://www.linkedin.com/company/cary

Check out Areo Nazari on LinkedIn at

https://www.linkedin.com/in/areonazari

Don’t forget to subscribe to The Thoughtful Entrepreneur and thank you for listening. Tune in next time!

 

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