The 16 Billion Dollar Market in Healthcare that is Often Overlooked, How AI Can Save Insurers and Patients Billions of Dollars Every Year, with Andrew Lockhart, CEO & Co-Founder of Fathom Health

Today, we spoke to Andrew Lockheart, CEO of Fathom Health, about the world of medical coding. Medical coding is the process of assigning standardized codes that tell health insurers what services they used and how that service should be reimbursed.

Fathom Health is focused on using AI to reduce the amount of time and errors made while assigning codes to medical procedures. Fathom currently powers coding operations at over 2,000 provider sites, spanning over 100 million medical encounters.

We talk about how medical coding has a huge financial cost on healthcare organizations and the valuable time of doctors. We discuss the importance of audits and how reducing these errors can protect patients.

A few topics you’ll learn about today:

1) What exactly is medical coding?

2) How does it affect the health of a medical business? What is the size and impact of improper medical coding?

3) How did you go about acquiring your first customers? How do you acquire millions of data points to train your machine learning models?

4) When founders are first starting out, what’s the best way to develop a business model?

5)How do you start building a team?

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How to Build a Top-Rated Digital Health Companion, with Omri Shor, CEO of Medisafe

Today’s interview is with Omri Shor, the Chief Executive Officer of Medisafe, a digital health application that has over 49K top ratings on the App Store.

Medisafe is an evidenced-based digital therapeutics company providing medication management solutions for patients. Medisafe uses their application solution to help patients manage their medication intake, and has gained over 7 million users across iOS and Android smartphones and tablets, who have recorded over 4 billion medication doses taken correctly. Nearly 250,000 users have rated the app an average of 4.6 out of 5 stars in the iTunes and Google Play app stores. The company also provides its partners the opportunity to engage each patient on an individual level, supporting them throughout the entire patient journey, and provides unique insights on patterns critical for improving the patient experience. Medisafe had shown over numerous studies, both retrospective with tens of thousands of patients, that its solutions improve adherence by up to 20%.

A few topics we cover:

1.) What inspired the idea of building a medication management application?

2.) How did you scale your user base and what kept users loyal to the platform?

3.) How did timing play in your growth as a digital therapeutics company, especially venture capital opportunities?

4.) How did you prioritize building a team over the course of scaling the company?

5.) What do you envision the future of healthcare to look like? How does digital therapeutics play a role in that?

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Innovation in Orthopedic Care, with Ben Schwartz, CIO of Healent

Today’s interview is with Ben Schwartz, the Chief Innovation Officer of Healent and a LinkedIn 2020 Top Voice.

Healent is a remote patient monitoring (RPM) platform that is dedicated to supporting patients with Musculoskeletal issues (think bone, muscles, joint pain, arthritis, orthopedic surgery, etc.). Healent uses technology to help patients monitor and manage their arthritis, deliver virtual physical therapy, support patients before and after surgery, and connects patients with their care delivery teams.

A few topics we cover:

1.) How virtual care can decrease rates of urgent care utilization while also improving patient outcomes.

2.) How does surgery need to evolve beyond the operating room?

3.) How do you convince doctors to use your platform when they have a negative bias toward technology?

4.) How can geography impact your business? Can it make or break your business model?

5.) How has COVID affected the pricing models for telehealth services?

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Show Notes

(1:36) Introductions to Ben Schwartz

(2:06) Transitioning from being a surgeon to Digital health

(3:45) What is Healent? Revamping hip surgery

(7:10) What makes Healent different from other telehealth providers?

(8:43) What will the future of telemedicine look like?

(10:08) Legal challenges with telehealth

(11:33) How do you sustain interest in online orthopedic services post COVID-19?

(14:19) How do you get doctors to use your platform?

(16:40) How has growing Healent in the Boston area affected the business?

(19:49) Delivering customized care to patients

(22:33) KPIs for Determining Surgery Success (23:45) Testing the Efficacy of Your Platform

(25:12) Pricing telehealth services

(26:40) How has the pricing of medical services changed because of COVID?

Telehealth for Pets and Connected Pet Care with Bobby Reddy, COO and Co-Founder of Anipanion

Today we sit down with Bobby Reddy, COO, and co-founder of Anipanion, a telehealth product for pets! Bobby has been an entrepreneur since his time in college where he and his roommate (later co-founder) were intrigued by the combination of connected health systems and the pet care space, later leading into Anipanion.

Bobby highlights the issues affecting the vet world on both the clinic and pet parent sides and where disruption can benefit both parties. We learn about the constraints of vets such as vet shortages given the rising needs of pet owners. We also learn about the need for convenient access to vet care and how consistent quality can be provided through telehealth services. Bobby certainly teaches us about the future of pet health and how telehealth will redefine it – we hope you learn as much as we did.

In this episode you will learn:

1. Where did you come up with the idea and how did you build a team around Anipanion?

2. What does telehealth for pets look like?

3. What are the issues affecting the vet space and how is digital enabling their industry?

4. What has been the highest value add of telehealth services like Anipanion to the pet health ecosystem?

5. How do you see the future of pet care evolving?

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The Future of Orthopedic Surgery, with Scott Day, CCO of Gramercy Extremity Orthopedics

Today, we spoke to Scott Day, CCO of GramercyOrtho (also known as GEO), about the challenges behind supplying and managing orthopedic surgical equipment. Prior to joining GEO, Scott was the Head of Sales at Black Forest Medical Group and a VP at Orthofix. GEO’s flagship product is a mobile implant and instrumentation inventory system that uses RFID technology to automatically track medical equipment usage. Essentially the Amazon Store of Surgical Equipment, just take what you need from GEO’s cart and you can expect new inventory and automatic billing in the next few days. We learn about the intensive amount of preparation that goes into a surgical procedure, ranging from device preparation, the sterilization process, and partnering with facilities to monitor supplies. We had a blast chatting with Scott.

In today’s episode you will learn:

1.) What happens behind the scenes during orthopedic surgery?

2.) How do hospital networks keep track of and stock their surgery supplies?

3.) How does RFID enable technology value in the operating room?

4.) What are Integrated Delivery Networks (IDNs)? What is it like to work with Integrated Delivery Networks (IDNs) and develop a partnership model?

5.) What do med device sales representatives do? How has GEO changed the way they work?

6.) What are your plans for product development and does it look similar to the current offering? How are you incorporating digital?

7.) How do you grow your commercial team? What role has social media played? Have there been other positives from the growth of an online presence?

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The Digital Disruption in Health with Justin Norden, VC Investor and Partner at GSR Ventures

In this episode, we sit down with Justin Norden, a Partner at GSR Ventures. GSR Ventures is one of the world’s most successful early-stage venture firms, with over $3B under management and with investments in Kinsa, Deep 6 AI, DataVisor, Plus AI, and Didi (the Uber of China), just to name a few. Prior to joining GSR Ventures, Justin worked on Apple’s digital health team, graduated from medical and business school from Stanford, and helped launch the Stanford Center for Digital Health (https://med.stanford.edu/cdh.html).

In Today’s Episode You Will Learn:

1.) How has the world of digital health changed over the past 5 years?

2.) What was involved in standing up the Stanford Center for Digital Health?

3.) How has digital health been explored by large tech giants like Apple?

4.) What did your transition to Venture Capital look like?

5.) How do you best allocate time as a VC investor? How do you balance working between discovering startups and working with your portfolio companies?

6.) What common hurdles do healthcare entrepreneurs face?

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