The Beat

About Steve Kraus:

Steve Kraus is a partner at Bessemer in the Cambridge office and a world-renowned healthcare investor. He is the author of Bessemer’s 10 Laws of Healthcare,  Benchmarks for Growing Health tech Businesses, and is a co-host of A Healthy Dose podcast. Steve currently sits on the boards of Bright Health Group, Headspace Health, Groups, Qventus, AspenRx, HouseRx, Oshi Health, Folx Health, Mural Health, Alcresta and US Health Partners.

Prior to joining Bessemer, Steve worked for a growth-stage, private equity firm and as a management consultant at Bain & Company. He has also worked on several different political campaigns throughout his career.

He serves as an Observer at Beth Israel Deaconess Medical Center, an advisor to Boston Children’s Hospital and the Harvard Business School’s Center for Entrepreneurship, and on the investment committees of BCBS Massachusetts and Rock Health.

Steve graduated from summa cum laude from Yale University and earned his MBA from Harvard, where he was a Baker Scholar.

Things You’ll Learn:

• With a dedicated healthcare practice for over 40 years, Bessemer brings a unique advantage by integrating partners with diverse industry expertise and networks. This approach allows them to make strategic investments in various industries, including healthcare, software as a service, fintech, consumer, and crypto.
• The Intersection of Healthcare and AI: One of the fascinating topics discussed is how Bessemer leverages the convergence of healthcare and AI.
• By combining Bessemer’s healthcare team's knowledge with a deep AI team, they have built one of the most extensive portfolios in healthcare AI today. This focus on innovation and emerging technologies positions them to tap into the potential of AI to drive down costs, improve outcomes, and revolutionize the healthcare industry.
• Navigating the Current Landscape: With recent economic challenges, including market downturns and valuation adjustments, the VC industry has faced some headwinds. However, Steve Krause highlights that the current valuation reset has created opportunities for investors.
• Steve emphasizes that the healthcare sector, in particular, holds immense potential, and as the public markets open up, the next cohort of healthcare tech companies will emerge, propelling the industry forward.

Resources:

• Connect with and follow Steve Kraus on LinkedIn.
• Follow Bessemer on LinkedIn and visit their website.

About Steve Kraus:

Steve Kraus is a partner at Bessemer in the Cambridge office and a world-renowned healthcare investor. He is the author of Bessemer’s 10 Laws of Healthcare,  Benchmarks for Growing Health tech Businesses, and is a co-host of A Healthy Dose podcast. Steve currently sits on the boards of Bright Health Group, Headspace Health, Groups, Qventus, AspenRx, HouseRx, Oshi Health, Folx Health, Mural Health, Alcresta and US Health Partners.

Prior to joining Bessemer, Steve worked for a growth-stage, private equity firm and as a management consultant at Bain & Company. He has also worked on several different political campaigns throughout his career.

He serves as an Observer at Beth Israel Deaconess Medical Center, an advisor to Boston Children’s Hospital and the Harvard Business School’s Center for Entrepreneurship, and on the investment committees of BCBS Massachusetts and Rock Health.

Steve graduated from summa cum laude from Yale University and earned his MBA from Harvard, where he was a Baker Scholar.

Things You’ll Learn:

• With a dedicated healthcare practice for over 40 years, Bessemer brings a unique advantage by integrating partners with diverse industry expertise and networks. This approach allows them to make strategic investments in various industries, including healthcare, software as a service, fintech, consumer, and crypto.
• The Intersection of Healthcare and AI: One of the fascinating topics discussed is how Bessemer leverages the convergence of healthcare and AI.
• By combining Bessemer’s healthcare team's knowledge with a deep AI team, they have built one of the most extensive portfolios in healthcare AI today. This focus on innovation and emerging technologies positions them to tap into the potential of AI to drive down costs, improve outcomes, and revolutionize the healthcare industry.
• Navigating the Current Landscape: With recent economic challenges, including market downturns and valuation adjustments, the VC industry has faced some headwinds. However, Steve Krause highlights that the current valuation reset has created opportunities for investors.
• Steve emphasizes that the healthcare sector, in particular, holds immense potential, and as the public markets open up, the next cohort of healthcare tech companies will emerge, propelling the industry forward.

Resources:

• Connect with and follow Steve Kraus on LinkedIn.
• Follow Bessemer on LinkedIn and visit their website.

About Shannon Klinger:

Shannon Thyme Klinger, the Chief Legal Officer and Corporate Secretary at Moderna is in charge of Moderna's legal and corporate compliance matters. Throughout her career, Shannon has been dedicated to improving long-term business performance, building trust with the public, ensuring access to medicine, and facilitating successful product launches. She is also a strong supporter of diversity, equity, and inclusion. Additionally, she served on the board of directors of the SIX Group in Switzerland from 2016 to 2020.

Shannon earned her Juris Doctorate with honors from the University of North Carolina at Chapel Hill and a bachelor's degree in psychology from the University of Notre Dame. She is a member of the State Bar of Georgia and the District of Columbia Bar.

Things You’ll Learn:

• Many individuals choose healthcare as their career path due to their personal experiences.
• Regarding AI and healthcare, balancing regulation and innovation is crucial.
• Organizations should ethically use AI applications for the benefit of the public.
• Excessive regulation can hinder the pace of innovation, potentially leading to fewer lives being protected.
• Imagine the impossible and make it possible.
• Moderna's goal is to ensure that people worldwide, regardless of their place of birth, have access to high-quality treatments.

Resources:

• Connect with and follow Shannon Klinger on LinkedIn.
• Follow Moderna on LinkedIn.
• Discover the Moderna Website.
• Check out the mRNA Access Website.
• Visit Moderna’s Charitable Foundation Website.
• Listen to Shannon's previous interview here.

About James Wantuck:

James Wantuck is the Associate Chief Medical Officer at Accolade, where he manages a large, growing group of physicians, therapists, and clinical operations staff while working with patients daily. He's a board-certified internal medicine physician who co-founded PlushCare in 2015 and grew it to over 200 physicians offering high-quality, accessible, direct-to-consumer virtual care. James earned his Bachelor of Science degree in Chemistry and Neuroscience from the University of Pittsburgh and then earned his doctorate in Medicine at the Vanderbilt University School of Medicine. His mission is to help people at scale.

Things You’ll Learn:

• There is a rising popularity of weight management medication in healthcare.
• GLP-1s are driving the trend when it comes to weight management medications. They are not magic, though.
• Healthcare is complicated, and most people don’t think about it until they need it.
• Hiring a physician with entrepreneurial skills can greatly benefit a healthcare organization.
• Staying responsive to market changes is essential for helping patients access better care.

Resources:

• Connect with and follow James Wantuck on LinkedIn.
• Follow Accolade on LinkedIn and visit their website.
• Learn more about PlushCare on their website and follow them on LinkedIn.
• The Accolade App has over 17,000 positive reviews. Download it here.

In traditional healthcare, patients don’t control the flow of funds. And that leaves payers or health systems in the driver’s seat when it comes to decision making.

But Ro designed a business that gives control back to patients. A business where health insurance doesn’t stand in the way of patients being able to access the care they want and need.

Dr. Melynda Barnes is Chief Medical Officer at Ro, a direct-to-patient health care platform that provides high-quality, affordable care without the need for insurance.
 

Dr. Barnes is one of Fierce Healthcare’s Most Influential Minority Executives and a 40 Under 40 Leader in Health, and she is passionate about democratizing access to quality care.

On this episode of The Beat, Melynda joins hosts Dr. Jessica Shepherd and Dr. Gautam Gulati to discuss the future of vertically integrated primary care.
 

Melynda walks us through Ro’s suite of product offerings, explaining how her team addresses stigmatized conditions and why patients are more willing to discuss these issues with the Ro care team.

Listen in to understand why Ro built out its own pharmacy and learn how patients benefit from the company’s scale—and its very high bar for asynchronous telehealth care.

Topics Covered

• What inspired Melynda’s shift from practicing medicine to healthcare startup exec
• How Ro offers a direct-to-patient model where insurance doesn’t stand in the way of quality care
• The stigma around obesity and why there’s debate on covering medication to address it
• Ro’s suite of product offerings and why Melynda’s team focuses on stigmatized conditions
• Why patients are more willing to discuss conditions that carry stigma virtually
• How Ro sets the bar very high for asynchronous telemedicine
• How patients pay for Ro’s services through memberships, cash pay and insurance
• What members of the Ro Body program get with their membership
• What enabled Ro to scale so quickly and get their visits down to a $15 price point
• How the Ro platform is built for patients, providers and pharmacists
• Ro’s patient-first approach to expanding its service offerings
• Why Ro built out its own pharmacy and the benefits of such vertical integration
   

Connect with Melynda Barnes

Ro

Melynda on LinkedIn

Connect with Dr. Jessica Shepherd & Dr. Gautam Gulati

HLTH

Dr. Shepherd on X

Dr. Shepherd on LinkedIn

Dr. Gulati on X

Dr. Gulati on LinkedIn
 

Resources

Stanford Biodesign Fellowships

GLP-1 Obesity Meds

Ro Body Program

About Colin Soutar:

Dr. Colin Soutar is a managing director at Deloitte Risk & Financial Advisory. He leads cyber & strategic risk Products and Technology within the Government & Public Services practice and is the Deloitte US Cyber Quantum Readiness leader. After finishing his studies in Dundee, Scotland, Colin started his career with a two-year post-doctorate study at NASA’s Johnson Space Center, developing pattern recognition techniques for autonomous rendezvous and capture operations. Colin now has more than 25 years of experience in biometrics, digital identity, and cybersecurity technologies and was previously the CTO of a public company in Toronto, Canada, for almost a decade. He currently serves on the World Economic Forum Global Future Council for Cybersecurity.

Things You’ll Learn:

• Quantum computing offers advanced computing capabilities, modeling, simulation, and optimization that prove incredibly beneficial to industries such as life sciences and healthcare.
• Quantum computing can revolutionize the way we approach data analysis, transforming the field with its powerful algorithms.
• While quantum computing promises immense value, it also poses a significant cybersecurity threat. Once quantum computers become available, they can potentially break the current encryption methods used to protect the integrity of transactions and data.
• Though the exact timeline for cryptographically relevant quantum computers is uncertain, organizations must proactively assess their exposure and inventory their cryptographic algorithms.
• Understanding the potential impact on data security and privacy is crucial for healthcare organizations, especially considering the expected longevity of patient data.

Resources:

• Connect with and follow Colin on LinkedIn.
• Follow Deloitte on LinkedIn.
• Explore the Deloitte Website.
• World Economic Forum & Deloitte papers
• Quantum Readiness Toolkit: Building a Quantum-Secure Economy

About Jason Sherwin:

Jason Sherwin is the Senior Director of Business Development at Clear. He is a passionate strategic thinker who is driven to challenge long-held healthcare standards. Jason has 13 years of expertise in the health technology field, focusing on product planning and commercial growth. In his role at Clear, Jason works cross-functionally with executives and other leaders in marketing, operations, and IT to maximize outcomes.

Jason completed his MBA at the Stern School of Business, which enabled him to apply the principles he learned to his real-world work. His expertise in designing successful strategies for managing organizational change and gauging success was further boosted by his specialization in Leadership & Change Management. Jason also completed his Bachelor of Science at Skidmore College in 2009.

About Ryan Howells:

Ryan Howells is Principal at Leavitt Partners and Program Manager at CARIN Alliance. He focuses on healthcare policy and interoperability issues, working with key stakeholders, including the White House, Congress, HHS, and VHA. His role is instrumental in driving consumer access to healthcare data and enabling interoperability in the healthcare ecosystem.

Ryan is also a Member of the Medicaid Information Technology Architecture (MITA) Governance Board at the Centers for Medicare & Medicaid Services, intending to provide strategic direction and tactic oversight. Ryan has earned his Master of Arts in Health Services Administration at the University of Southern California.

Things You’ll Learn:

• In healthcare, identity is critical. Getting the patient's identity wrong isn't an option.
• Streamlining healthcare through digital identity can significantly reduce provider costs and improve patient matching.
• The 21st Century Cures Act, Fire APIs, and identity-proof credentials are revolutionizing how consumers access their healthcare data.
• Individuals can prove their identity, for example, when checking in for an appointment with their doctor, through a unique digital identity, similar to taking a selfie.
• The goal is to place patients in control of their health information, providing a seamless experience.
• Trust is a crucial aspect, making the digital identity a reliable solution for healthcare data.

Resources:

• Connect with and follow Jason on LinkedIn.
• Visit CLEAR on their website and follow them on LinkedIn.
• Connect with and follow Ryan on LinkedIn.
• Learn more about Leavitt Partners on this website and LinkedIn.
• Visit CARIN Alliance on their website and follow them on LinkedIn. 

About Ashok Chennuru:

Ashok Chennuru serves as Global Chief Data & Insights Officer and Interim Lead of Carelon Digital Platforms. Ashok oversees the responsibility of carrying out the vision of Carelon Digital Platforms and bringing to life digital solutions that enhance healthcare outcomes and accelerate growth by reimagining care delivery, operations, and consumer experiences. He uses data analytics to drive a digital-first approach across the company's artificial intelligence (AI), exponential technology, service experience, and innovation portfolios, as well as the commercialization efforts of digital capabilities for consumers, care providers, and the health ecosystem.

Prior to his current role, Ashok served as Vice President of Enterprise Data and Analytics for Anthem, Inc. for 8 years, as Director of Enterprise Information Architecture at Wellpoint for 6 years, and as Enterprise Technologist at Liberty Mutual for 6 years. He has over two decades of industry experience, where he has played a critical role in driving innovation and growth.

Prior to joining Elevance Health, Ashok led the Information Business Intelligence team at Liberty Mutual and focused on delivering analytics to key business areas like Actuarial & Finance. Preceding Liberty Mutual, Ashok worked in software giants SAP and Oracle as a software development engineer focused on analytics products.

Ashok holds a master’s degree (MS) in Computer Science from the University of Missouri and a BS in Computer Science and Engineering from Madurai University in India.

Source

Things You’ll Learn:

• Elevance Health utilizes AI for automation, analytics, and improving consumer and provider experiences.
• By leveraging a robust data set from administrative claims, EMR data, and social and behavioral data, Elevance Health drives AI-driven insights for personalized care recommendations and closing care gaps.
• Elevance Health emphasizes responsible AI, ensuring fairness, inclusivity, robustness, security, traceability, and accountability in its AI practices.
• The core priority of using digital platforms for health is to enhance the consumer experience, including AI-driven solutions like symptom checkers and virtual care.
• The use of AI has already delivered tangible results, from personalized provider matches to streamlining prior authorizations, significantly improving consumer and provider experiences while driving operational efficiencies.

Resources:

• Connect with and follow Ashok Chennuru on LinkedIn.
• Follow Accolade on LinkedIn and visit their website.

About Ashok Chennuru:

Ashok Chennuru serves as Global Chief Data & Insights Officer and Interim Lead of Carelon Digital Platforms. Ashok oversees the responsibility of carrying out the vision of Carelon Digital Platforms and bringing to life digital solutions that enhance healthcare outcomes and accelerate growth by reimagining care delivery, operations, and consumer experiences. He uses data analytics to drive a digital-first approach across the company's artificial intelligence (AI), exponential technology, service experience, and innovation portfolios, as well as the commercialization efforts of digital capabilities for consumers, care providers, and the health ecosystem.

He has over two decades of industry experience, where he has played a critical role in driving innovation and growth. Prior to joining Elevance Health, Ashok led the Information Business Intelligence team at Liberty Mutual and focused on delivering analytics to key business areas like Actuarial & Finance. Preceding Liberty Mutual, Ashok worked in software giants SAP and Oracle as a software development engineer focused on analytics products. Ashok holds a master’s degree (MS) in Computer Science from the University of Missouri and a BS in Computer Science and Engineering from Madurai University in India.

Things You’ll Learn:

• Elevance Health utilizes AI for automation, analytics, and improving consumer and provider experiences.
• By leveraging a robust data set from administrative claims, EMR data, and social and behavioral data, Elevance Health drives AI-driven insights for personalized care recommendations and closing care gaps.
• Responsible AI, ensuring fairness, inclusivity, robustness, security, traceability, and accountability in its AI practices.
• The core priority of using digital platforms for health is to enhance the consumer experience, including AI-driven solutions like symptom checkers and virtual care.
• The use of AI has already delivered tangible results, from personalized provider matches to streamlining prior authorizations, significantly improving consumer and provider experiences while driving operational efficiencies.

Resources:

• Connect with and follow Ashok Chennuru on LinkedIn.
• Follow Accolade on LinkedIn and visit their website.

About Larissa D’Andrea:

Larissa D’Andrea is the Global Vice President of Impact at ResMed, an organization striving to improve quality of life, reduce the impact of chronic disease, and lower costs for consumers and healthcare systems in more than 120 countries. Her goal at ResMed is to bring significant leadership experience to the patient-centered healthcare space and advance ResMed’s focus on impacting over 250 million lives through its 2025 strategy. Larissa has spent 25 years in healthcare, and her portfolio encompasses enterprise ESG stewardship, government affairs, clinical advocacy, and patient advocacy. She is a graduate of the San Diego University Law School and completed her Bachelor of Science degree in Biology.

Her professional passion for the patient, health equity, and access led her to start and lead two organizations focused on social impact, Art into Activism and Hard Knock Productions, which have delivered on many projects in the past period and have a full range of activities on the runway for 2023. Larissa believes that storytelling fosters understanding, empathy, and inspires change, whether in self-care, relationships, or policy decisions. Authenticity is key.

Things You’ll Learn:

• A patient-centric approach should include patients, clinicians, and caregivers to provide holistic and effective care.
• Empowering individuals with information and engaging them in their healthcare decisions leads to better outcomes and improved health.
• Patients can drive positive changes in healthcare by sharing their experiences.
• Health involves not only medical care but also the well-being of our physical, mental, and emotional aspects.
• Collaboration between individuals and healthcare organizations is crucial to collectively working towards better outcomes in healthcare.

Resources:

• Connect with and follow Larissa D'Andrea on LinkedIn.
• Follow ResMed on LinkedIn.
• Visit the ResMed website here.