Steve Yaskin’s Post

Hey Tech, It’s Time To Build. In Healthcare #startup  #fundraising  #angelinvestor  #investments  #VentureCapital  #vc #Entrepreneurship  #venturefunding  #investing #TechNews #Innovation #technology #healthcare https://lnkd.in/eGuifUQq

Healthcare represents a colossal, untapped market ripe for technological disruption. By leveraging AI and modern tech, we can streamline operations, enhance patient engagement, and drastically improve health outcomes. This is about using technology to save lives and make healthcare more efficient and accessible. a16z Bio + Health's Vijay Pande, PhD and Daisy Wolf call on tech to come build in healthcare in one of our most popular articles of 2023. Read it here: https://lnkd.in/eV2UT8Ce

In your 'Why you should come to healthcare' section - the very first paragraph should be because it is a basic human right. Second, using purpose as means to an end - improved bottom line - is likely to backfire when the people understand their purpose is being only engaged for that end. 👇 "In addition, the mission orientation of healthcare can likely help your talent perform better. Gallup reports “there is a strong correlation between employees’ purpose and engagement and organizations bottom line.” This also explains why 'only now' in your view it is time to 'build' in healthcare, because the challenge and the need has always been there. For the people, well, that care about it. Also please don't talk about a sector that impacts human lives, in terms of "untapped" and ripe for "disruption". This is not your next gadget. These are not things that if you move fast you can afford to break. These are people's lives. "Finally, we think your tech mindset can be a huge asset in leading a healthcare company." - Well, it depends, if is the mindset above, coming from a legacy of disregarding the impact on human's lives of the products created, and playing with toys, I guess the healthcare world is well without it, thanks.

I couldn't recommend this article enough. It is as relevant as ever, as we have seen a global pandemic increase health-seeking behaviours significantly. There is no doubt that current healthcare systems are flawed, and that, is concerning. Six in ten Americans live with at least one chronic disease (such as heart disease and stroke, cancer, or diabetes) and require constant monitoring. Yet, the US places outside of the Top 30 countries in terms of physicians per 1,000 people. Furthermore, physicians in the United States spend 15.5 hours per week on paperwork and administration (EHR management, filing claims, delivering test results...). It is time for entrepreneurs to deliver impactful technology-driven solutions to improve existing healthcare systems! May we not forget that often, disruption comes from non-traditional players!

In the post titled, "Hey Tech, It’s Time To Build. In Healthcare," Andreessen Horowitz sends out an invitation to the tech industry, urging them to leverage their innovative prowess to redefine healthcare, America's most significant sector. They challenge the brilliant minds of tech to bring their innovation and problem-solving skills to a sector ripe for disruption - healthcare. The authors assert that, amidst its complexity and regulatory nature, healthcare holds a sea of opportunities waiting to be explored. The potential to utilize cutting-edge technologies like AI could bring about a revolution, potentially saving countless lives and fundamentally changing patient experiences. Above all, stepping into healthcare provides a mission that's both personally rewarding and beneficial to society. This is not just about reshaping an industry; it's about creating a healthier, more accessible future for everyone. https://lnkd.in/gXemKhck

I learned recently that the US healthcare system is equivalent to the 3rd largest GDP in the world. Yet it lags behind many it’s efficiencies. The top-performing countries overall are Norway, the Netherlands, and Australia. The U.S. ranks last on access to care, administrative efficiency, equity, and health care outcomes, but second on measures of care process. Healthcare is fundamentally 1) a data, operations, and logistics problem, and (2) a consumer experience and engagement problem. Both are areas where the tech world excels. #digitalhealth, #digital, #AI, #Startup

The overwhelming nature of healthcare largely can be attributed to the size of the market. It’s unfathomably large–$4 trillion in the US alone–and made up of countless submarkets. The American healthcare market could support dozens of FAANG (Facebook, Amazon, Apple, Netflix, Google)-scale companies, but today only one exists (UnitedHealth Group). Healthcare at its core is (1) a data, operations, and logistics problem, and (2) a consumer experience and engagement problem. Both are areas where the tech world excels. When it comes to data, operations, and logistics, the current state of healthcare leaves endless opportunity for improvement. $765 billion is wasted annually, with the main driver being human administrative overhead. Instead, some of the biggest problems in healthcare are going to be solved by technology. Healthcare provides the best opportunity out there to use the hottest tools in tech–especially AI–to displace huge incumbents. https://lnkd.in/gdUrrNEZ

Healthcare Intimidating. Regulated. Complex. Huge. And that’s why it’s so damn exciting! Check out this a16z article: https://lnkd.in/euy-tavC It summarizes some of the biggest problem spaces in healthcare: Data Operations Logistics Customer Experience Engagement All areas where the tech world excels. It’s time to put our tech skills to work. Healthcare is ripe for disruption!

In the article "Hey Tech, It’s Time To Build. In Healthcare." by Daisy Wolf and Vijay Pande, PhD, the authors argue that it's time for technology experts to leverage their skills in the healthcare sector, an area ripe for innovation and disruption. Here are the key takeaways: Tech Entrepreneurs Moving to Healthcare: Founders from major tech companies like Instacart, Spotify, and Coinbase are starting healthcare ventures, seeing potential in tackling healthcare challenges with tech-driven solutions. Healthcare as the Next Frontier: The authors point out that healthcare in the United States, constituting a fifth of the economy, is significantly flawed in terms of cost and health outcomes. This presents a vast opportunity for impactful innovation, much like the transformative changes seen in other industries through companies like Airbnb and Lyft. Challenges in Healthcare: The complexity and regulation within healthcare are intimidating but also create a fertile ground for substantial and meaningful innovations. The complexity and scale of the market offer defensibility against competition and commoditization. Opportunities for Tech in Healthcare: Data and Operations: Enormous inefficiencies exist, such as the lack of data interoperability and the high costs of administrative overhead. Consumer Experience: Poor consumer engagement in healthcare leads to suboptimal health outcomes. Tech can improve patient engagement through better user experiences and service delivery. Use of AI and Advanced Tech: Healthcare offers a prime scenario for deploying AI and other technologies to improve services and operational efficiency, potentially transforming the sector's economic dynamics. Mission-Driven Work: Working in healthcare provides a strong sense of purpose, aligning with the desires of many, particularly millennials, to find meaningful work. Improving healthcare can have a direct and significant impact on quality of life and mortality rates. Attracting Talent: The mission-oriented nature of healthcare can help attract and retain talented individuals who are motivated by the opportunity to make a real difference. Bringing Tech Expertise to Healthcare: The tech mindset, characterized by speed, innovation, and visionary thinking, is invaluable in rethinking and redesigning healthcare systems and processes. #healthcare #medtech #innovation #digitalgealth

The U.S. healthcare system is under-digitized and inefficient, wasting $765 billion annually. Which also means it's ripe for disruption. By leveraging tech, especially AI, these inefficiencies can be transformed into opportunities for streamlining operations and enhancing patient engagement. One year ago today, a16z general partner, Vijay Pande, PhD, and a16z investment partner, Daisy Wolf, penned our most popular article of 2023 - Hey Tech, It's Time to Build. In Healthcare. This call to action is just as relevant now as it was then. Read the full article here: https://lnkd.in/eV2UT8Ce