Tag Archives: Cost to Zero

How Two Founders Are Using AI to Tackle Wasteful Healthcare Spending

November 30, 2023Business, Health, Innovation, StartupsAI, artificial intelligence, Cost to Zero, Health Cost IQ, Health Moonshots, Health Transformer, Health Transformers, Healthcare, healthcare spending, Hindsait, Innovation, Jude Odu, Logan Plaster, Pinaki DasguptaNicole Kinsey

Podcast: Play in new window | Download (27.1MB)

On this StartUp Health NOW episode, we’re talking about wasteful spending in healthcare. This is one of those topics that’s hard to put in perspective. The institute of medicine says that 30% of healthcare spending could be categorized as wasteful, putting the total tab north of $750 million. It could be a trillion dollars.

Health insurance premiums are up 7% year over year, according to Health Affairs. Analysts point to inflation as a strong cause, but this nearly trillion dollars in unnecessary spending isn’t helping the equation.

Bottom line, healthcare costs are out of control and driving many people into medical bankruptcy. If 30% of healthcare spending is unnecessary, we’ve got to get this under control. Thankfully, we’ve got founders in the StartUp Health community who are passionate about this issue.

Jude Odu, CEO & Founder of Health Cost IQ, and Pinaki Dasgupta, CEO & Founder of Hindsait, will help us understand what constitutes wasteful spending and how advances in AI allow us to root it out at the source.

This is the kind of innovation that takes some courage, because pointing out to a hospital that they’re double billing or telling an insurer that they’re making massive errors doesn’t make you popular with either party. But it’s got to be done if we’re going to get overall health costs under control.

Enjoy the episode.

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From the Archives: Naheed Kurji of Recursion Takes a Deep Dive into Artificial Intelligence for Drug Discovery

August 30, 2023Business, Health, Innovation, StartupsAI, artificial intelligence, Cost to Zero, Cure Disease, Cyclica, Health Transformers, Logan Plaster, machine learning, Moonshots, Naheed Kurji, Recursion, Recursion Canada, Recursion Pharmaceuticals, RXRXNicole Kinsey

Podcast: Play in new window | Download (Duration: 34:57 — 28.0MB)

For this StartUp Health NOW episode, we dive back into an interview we did with a long-time Health Transformer, Naheed Kurji. At the time of the interview, Naheed was the CEO, President & Co-founder of Cyclica, a StartUp Health company that is considered one of the pioneers of what is now the increasingly hot space of using AI for drug discovery and development.

We wanted to revisit this conversation because in the time since we aired it, Cyclica had huge news. In May 2023, the company was acquired by Recursion Pharmaceuticals (NASDAQ: RXRX), a clinical-stage biotech player.

Naheed now leads Recursion’s Canadian operations and is putting his experience to use accelerating innovation in drug discovery in whole new ways. By looking back at Naheed’s experience at Cyclica, we can gain a glimpse into how he was so successful piloting a startup from launch to acquisition and how he might lead Recursion moving forward. Naheed will also give us an inside look at how Cyclica reshaped this market – then he’ll zoom way out: as the chair of the Alliance for Artificial Intelligence in Health, Naheed can help us understand where the AI for health industry is going.

We will be back with fresh episodes after Labor Day!

Founders: Health Transformer University fuels your health moonshot

From the Archives: Dr. Robert Wilson on How Partnering with PreventScripts Enhanced His Medical Practice

August 9, 2023Business, Health, Innovation, StartupsAccess to care, Brandi Harless, chronic care, Cost to Zero, CovenantCare, CovenantCare Family Practice, Cure Disease, diabetes, Digital Health, Dr. Natalie Davis, Dr. Robert Wilson, health innovation, Health Moonshots, health transformation, Health Transformers, Logan Plaster, md, Natalie Davis, PreventScripts, Robert Wilson, Type 2 Diabetes, Type II DiabetesNicole Kinsey

Podcast: Play in new window | Download (Duration: 21:56 — 17.6MB)

Typically on this show we talk to the health tech founders – who we call Health Transformers – that are creating the tools and platforms that will modernize our health system. Or we talk to top investors on what they’re looking for in startups.

But, on this week’s StartUp Health NOW, we look back at one of our most-popular podcast episodes, which featured a different kind of guest: one that helps round out the picture of how healthcare innovation goes from idea to real-world implementation.

Robert Wilson, MD, is a family physician who runs CovenantCare Family Practice, a multi-site medical practice in Tennessee. Dr. Wilson popped up on our radar because he was an early partner for PreventScripts, a startup that’s part of the StartUp Health community. PreventScripts, led by Brandi Harless and Natalie Davis, MD, has created a platform that helps family doctors like Dr. Wilson identify patients who would benefit from chronic care management. Think about a patient who is pre-diabetic and all signs point towards a long battle with Type 2 diabetes. While Dr. Wilson might be too overextended to identify and coach this patient before the disease sets in, PreventScripts can identify the risk and put the patient on a clinically-proven program. Patients with chronic diseases, or the risk of disease, get heightened care between visits, and Dr. Wilson gets added reimbursement.

We wanted to talk to Dr. Wilson to understand why he was interested in partnering with a health startup, as this is one of the key hurdles for any health innovator. How do you find the right clinical partner, a place to prove out your brilliant idea in the real world, and then iterate based on user feedback?

In the conversation – our most-downloaded episode in the past year – we’ll get into the real-world challenges that Dr. Wilson faces, his motivation for evolving his practice, and how PreventScripts has helped him fill gaps in patient care.

We will be back with fresh episodes after Labor Day!

Founders: Health Transformer University fuels your health moonshot

Safer, Faster, Smarter: How Entrepreneurs Are Upgrading Hospital Tech

May 19, 2023Business, Health, Innovation, StartupsAccess to care, Cost to Zero, Health Moonshots, Health Transformers, Logan Plaster, Mocingbird, Moonshots, Vigilant SoftwareNicole Kinsey

Podcast: Play in new window | Download (Duration: 22:16 — 20.4MB)

Welcome to StartUp Health NOW, the podcast where we celebrate the entrepreneurs and innovators who are transforming health.

So when you go to the hospital for care, you accept that the outcome isn’t completely under your or your doctor’s control. Even with textbook healthcare, bad things can happen for a variety of reasons and your health can decline. Put another way, it’s hard enough when good care results in a bad outcome. But what about when a preventable error occurs?

It can seem incomprehensible, bewildering.

This idea that mistakes can happen in the hospital – mistakes that can take an already tenuous situation and make it even worse – and yet to err is human and hospitals are full of humans, so mistakes happen.

Thankfully, there are brilliant people out in the world working to reduce these preventable hospital errors in creative ways like our first guest on today’s show: Fox Holt, CEO of Vigilant. This startup – which joined StartUp Health in 2022 – is digitizing medication tracking by doing away with handwritten medication notes.

No more scribbling instructions on the side of an IV bag or, worse, on a syringe. With Vigilant’s easy-to-launch system, nurses can immediately start labeling and tracking meds in automated ways. This ensures patients get the right dose every time and no preventable medication errors occur. As a bonus, hospitals reap the benefits of all that medication data on the back end, data they were missing with handwritten labels.

Our second guest is also streamlining operations in the hospital, but with more of a mind towards provider satisfaction versus direct patient safety. Although it’s easy to see where the two intersect downstream.

Sanji Silva is the Chief Product Officer & Chief Technology Officer at Mocingbird, a startup upgrading and streamlining the provider credentialing process.

If Mocingbird – which joined StartUp Health in 2020 – has their way, gone will be the days lost to credentialing paperwork and hospitals having to scramble to find qualified workers as these standards shift from state to state. It will all be one unified system that keeps providers up to date with continuing education and keeps hospitals fully staffed.

It’s not just about paperwork, as onerous credentialing processes lead to burnout which push providers out of the profession entirely, leading to poorer quality care due to fewer available physicians.

Listen in to this week’s podcast to hear these vastly different approaches with one goal: improving healthcare.

Founders: Health Transformer University fuels your health moonshot

How Lifestores Is Using Their $3M Raise to Upgrade Drug Procurement in West Africa

April 20, 2023Business, Health, Innovation, StartupsAccess to care, Cost to Zero, Health Moonshots, Health Transformer, Health Transformers, Lagos, Lifestores, Logan Plaster, Nigeria, West AfricaNicole Kinsey

Podcast: Play in new window | Download (Duration: 25:19 — 23.2MB)

Our guest this week is Andrew Garza, co-founder of Lifestores Healthcare, a company that joined StartUp Health in 2019.

When Andrew and his co-founder Bryan Mezue were launching their business in Lagos, Nigeria, their focus was on creating a chain of tech-enabled pharmacies – and by doing so, they’d create an accessible avenue for primary care in one of the fastest-growing cities in the world.

Fast forward a few years and they’ve done a couple key things, which we’ll cover in the interview. They’ve layered on top of the pharmacy business a platform for drug procurement and logistics that saves hospitals money while raising the bar on quality. And, they’ve raised a $3M pre-Series A, which will allow them to expand in exciting ways. We’ll get into all of that in the conversation, plus hear a bit about Andrew’s journey from the East Coast of the US to the West Coast of Africa.

We hope you enjoy.

Founders: Health Transformer University fuels your health moonshot

Why Any Digital Health Startup Needs an Interoperability Strategy w/ Troy Bannister, Particle Health

November 8, 2022Business, Health, Innovation, StartupsAccess to care, Cost to Zero, Health, Health Data, Health Moonshots, Healthcare, Interoperability, Jamey Edwards, mindset, Moonshots, particle health, troy bannister, WisdomNicole Kinsey

Podcast: Play in new window | Download (Duration: 53:42 — 49.2MB)

Troy Bannister is the CEO & Founder of Particle Health, a StartUp Health portfolio company that is shaping the new standard of healthcare data exchange with a user-friendly API platform. Fresh off their $25M capital raise, Troy shares his views on the future of interoperability and why interoperability needs to be a core pillar in any healthcare startup’s playbook. Healthcare’s future is about data, and in front of a live, interactive audience of Health Transformers, Troy chats with StartUp Health’s Jamey Edwards for a deep dive on how to develop an interoperability strategy and partner with the right company to fulfill your moonshot mission.

Join us at the StartUp Health Festival @ HLTH, Nov 13-16, 2022, in Las Vegas to meet Troy Bannister, Jamey Edwards, and hundreds of other Health Transformers in person: https://www.startuphealth.com/startuphealthfestival

Learn more and connect with the team at Particle Health.

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Want more content like this? You can subscribe to the podcast as well as other health innovation updates at startuphealth.com/content.
Sign up for StartUp Health Insider™ to get funding insights, news, and special updates delivered to your inbox.

Passionate about Type 1 diabetes? If you’re an entrepreneur or investor, contact us to learn how you can join our T1D Moonshot.

Looking to break down health barriers? If you’re an entrepreneur or investor, contact us to learn how you can join our Health Equity Moonshot.

AI-Powered Health: Naheed Kurji of Cyclica Takes a Deep Dive into Artificial Intelligence for the Healthcare Industry

October 18, 2022Business, Health, Innovation, StartupsAI, artificial intelligence, Cost to Zero, Cure Disease, Cyclica, Health Transformers, Logan Plaster, machine learning, Moonshots, Naheed KurjiNicole Kinsey

Podcast: Play in new window | Download (Duration: 35:28 — 40.6MB)

Our guest this week is Naheed Kurji, the CEO and Co-founder of Cyclica, which joined StartUp Health way back in 2014. He’s going to get us up to speed on the world of AI-powered drug discovery. We’ll learn how artificial intelligence and machine learning are speeding up our ability to identify molecules and find new uses for market-tested drugs. Naheed will give us an inside look at how Cyclica is specifically trying to reshape this market, then he’ll zoom way out. As the chair of the Alliance for Artificial Intelligence in Health, Naheed can help us understand where the AI for health industry is going.

Join us at the StartUp Health Festival @ HLTH, Nov 13-16, 2022, in Las Vegas to meet Naheed Kurji in person.

Learn more and connect with the team at Cyclica.

Entrepreneurs: How to get investment from StartUp Health startuphealth.com

Passionate about Type 1 diabetes? If you’re an entrepreneur or investor, contact us to learn how you can join our T1D Moonshot.

Looking to break down health barriers? If you’re an entrepreneur or investor, contact us to learn how you can join our Health Equity Moonshot.

Health Innovation Implementation: Dr. Robert Wilson on How Partnering with PreventScripts Enhanced His Medical Practice

September 27, 2022Business, Health, Innovation, StartupsAccess to care, Brandi Harless, chronic care, Cost to Zero, CovenantCare, CovenantCare Family Practice, Cure Disease, diabetes, Digital Health, Dr. Natalie Davis, Dr. Robert Wilson, health innovation, Health Moonshots, health transformation, Health Transformers, Logan Plaster, md, Natalie Davis, PreventScripts, Robert Wilson, Type 2 Diabetes, Type II DiabetesNicole Kinsey

Podcast: Play in new window | Download (Duration: 22:39 — 21.2MB)

Typically on this show we talk to the health tech founders – who we call Health Transformers – that are creating the tools and platforms that will modernize our health system. This week we have a different kind of guest who will help round out the picture of how healthcare innovation goes from idea to real-world implementation.

Our guest is Robert Wilson, MD, a family physician who runs CovenantCare Family Practice, a multi-site medical practice in Tennessee. Dr. Wilson popped up on our radar because he was an early partner for PreventScripts, a startup that’s part of the StartUp Health portfolio. PreventScripts, led by Brandi Harless and Natalie Davis, MD, has created a platform that helps family doctors like Dr. Wilson identify patients who would benefit from chronic care management. Think about a patient who is pre-diabetic and all signs point towards a long battle with Type 2 diabetes. While Dr. Wilson might be too overextended to identify and coach this patient before the disease sets in, PreventScripts can identify the risk and put the patient on a clinically-proven program. Patients with chronic diseases, or the risk of disease, get heightened care between visits, and Dr. Wilson gets added reimbursement.

In the conversation, we’ll get into the real-world challenges that Dr. Wilson faces, his motivation for evolving his practice, and how PreventScripts has helped him fill gaps in patient care.

Learn more and connect with the team at PreventScripts.

Entrepreneurs: How to get investment from StartUp Health startuphealth.com

Passionate about Type 1 diabetes? If you’re an entrepreneur or investor, contact us to learn how you can join our T1D Moonshot.

Looking to break down health barriers? If you’re an entrepreneur or investor, contact us to learn how you can join our Health Equity Moonshot.

With Particle Health’s API, Troy Bannister Is Making Health Data Interoperability a Reality

May 31, 2022Business, Health, Innovation, Insights, Startups2022 StartUp Health Festival, Cost to Zero, Health Moonshot, Health Moonshots, Health Transformer, Health Transformers, Katya Hancock, particle health, StartUp Health @ ViVE, StartUp Health Festival, troy bannister, ViVE 2022Nicole Kinsey

Podcast: Play in new window | Download (Duration: 19:01 — 26.1MB)

A 2021 report in Bloomberg Law stated that though “Health IT pros and federal regulators dream of a healthcare system in which the flow of information happens seamlessly through a simple mouse-click, at least 70% of healthcare providers still exchange medical information by fax.”

In the world of health innovation, we know what can be unlocked when patient data can move safely and quickly from point A to point B. We know it because we saw it in the world of personal finance. Interoperable financial data empowered normal people to take charge of their finances, sending and receiving money, investing with a click of a button. It also empowered a new generation of apps like Venmo and Robin Hood.

This week we bring you a conversation with Troy Bannister, CEO and Co-founder of Particle Health, a StartUp Health portfolio company that is working to bring to healthcare the same level of data interoperability that we’ve experienced in personal finance. Their API framework is a foundation for healthcare innovators to build upon, so really we’re just at the very beginning of seeing what’s possible.

Troy explains what they’ve built, and what’s coming next in health data interoperability in this conversation with Katya Hancock, partner at StartUp Health. The chat was held in front of a live audience at the StartUp Health Festival @ ViVE in Miami Beach in March.

Learn more and connect with the team at Particle Health.

Entrepreneurs: How to get investment from StartUp Health startuphealth.com

How Lazurite Scored Rapid FDA Approval for Their Wireless Surgical Camera

April 12, 2022Business, Health, Innovation, Insights, StartupsAccess to care, ArthroFree, Cost to Zero, FDA, Health Moonshots, Health Transformer, Health Transformers, Lazurite, MoonshotsNicole Kinsey

Podcast: Play in new window | Download (Duration: 28:22 — 26.0MB)

In health innovation, sometimes the eureka moment that sparks a business is subtle. Maybe you’re a physician clicking away on an electronic health record and it dawns on you that you could do the same thing with fewer clicks. An idea is born.

At other times, inspiration smacks you in the face. Or, as in the case of Eugene Malinskiy, the CEO & Co-founder of Lazurite (a StartUp Health company since 2017), smacks someone else. In this podcast, we’ll hear how a fateful day in the operating room set Malinskiy on a multi-year journey of creating the world’s first wireless minimally invasive camera system for use in the OR. The big challenge, as he’ll explain, was getting a powerful enough light system into the unit. This month, Malinskiy and his team celebrated the milestone of receiving FDA clearance for their ArthroFree camera, so we caught up with them to hear the latest.

We also hit Malinskiy up for some practical advice on navigating the FDA process. One tip? Find and invest in an experienced regulatory partner early in the process.

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Learn more and connect with the team at Lazurite.

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Entrepreneurs: How to get investment from StartUp Health startuphealth.com