In this episode, we answer listener questions about the current state of the market and share insights for healthcare founders raising VC funding. We also announce the merging of this show with Closing Time Podcast, and welcome our new co-host Michael Esquivel! Michael is an angel investor, a startup lawyer at Fenwick, and a Lecturer at Stanford Law School - we're excited to have him join the show!

We cover:

• The slow recovery of the IPO market and the prevalence of private M&A deals
• Realistic revenue targets and deal sizes for Series A rounds in the current market
• The importance of having a platform play rather than a point solution
• Negotiation strategies for founders to protect their interests while attracting investors
• Balancing time between recruiting, fundraising, and running the business as a founder

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We had lots to cover in this month's Digital Health Download, from a $99 AI companion to if we think PBMs will ever be dismantled.

We discuss:

- A WSJ report on Medicare Advantage insurers pocketing billions for diseases that were never treated or falsely coded

- The FTC's interim report on pharmacy benefit managers (PBMs) and their impact on drug accessibility and affordability

- Vermont's successful accountable care organization (ACO) program, which led to significant savings and improved care

- The launch of "Friend," an AI-powered wearable device designed to combat loneliness and isolation

- Post-Theranos progress made by companies working on less painful blood tests

- A hospital's new venture into the entertainment industry

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In this episode, Steve Kraus interviews Andy Slavitt, General Partner at Town Hall Ventures and former CMS and UnitedHealth Group executive. We look back on his career-long mission to fix American healthcare's biggest challenges, encompassing roles in insurance, government, healthcare startups, and venture capital.

We cover:

- The high-stakes mission to rescue Healthcare.gov and implement the Affordable Care Act

- His unexpected transition from entrepreneur to executive at UnitedHealth Group

- His tenure as the head of the Centers for Medicare & Medicaid Services (CMS)

- The promise and hurdles of value-based care

- Why healthcare is slow to adopt technological innovations

- Navigating healthcare policy across changing political landscapes

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In this episode, Halle Tecco talks to Vinod Khosla— visionary venture capitalist, tech entrepreneur, and healthcare investor. Vinod shares his vision for using AI to enable a hundred touchpoints every hundred days with a patient. We discuss making healthcare more accessible, enabling personalized care, and what he worries could go wrong.

We cover:

• Revisiting his 2012 prediction that AI could replace 80% of what doctors do and more
• How AI will enable computers to learn and adapt to humans, not the other way around
• The potential for AI to replicate expertise, reduce misdiagnosis, and guide patients to the most effective treatments
• How changing billing codes is key to AI adoption in healthcare
• Real-world examples of AI in action, from mental health intake interviews to cardiac MRI analysis
• The importance of guardrails and being vigilant about unintended consequences as AI advances rapidly
• Advice for healthcare founders on solving hard problems in healthcare

Show notes:

• Vinod’s 2012 article “Do We Need Doctors Or Algorithms?”
• Vinod’s recent TED Talk: 12 predictions for the future of technology
• WSJ article mentioned: Insurers Pocketed $50 Billion From Medicare for Diseases No Doctor Treated
• Follow Vinod on X.

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Marketing and communications play a critical role in securing investment and driving product and service adoption in digital health. In this special two-part episode, Steve Kraus explores the art of storytelling in healthcare with two industry experts: Chrissy Farr, a veteran digital health journalist turned venture capitalist and advisor, and Kate Cronin, Chief Brand Officer at Moderna. They discuss:

• What makes for a great story in digital health
• The importance of including setbacks and challenges in company narratives
• The undervaluing of marketing and communications roles
• Strong digital health brands such as Livongo, PillPack, and Bobbie
• Chief Brand Officers vs. Chief Marketing Officers
• Lessons learned from rapidly scaling Moderna's brand during the COVID-19 pandemic
• The importance of internal communications

🎂 Please help us celebrate three years of the podcast by leaving us a review!

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Celebrating three years of The Heart of Healthcare, Halle and Steve dive into the latest news and trends in digital health for July 2024.

July highlights include:

• A new Peterson Institute report on digital treatment outcomes for musculoskeletal conditions
• The FDA's guidance on improving diversity in clinical trial enrollment
• The economic impact and legal battles surrounding GLP-1 drugs for obesity
• Walgreens' pullback from healthcare services and concerns about the sustainability of the current pharmacy model
• A Washington state study on utilizing pharmacists to treat minor illnesses
• The U.S. Surgeon General's advisory on social media's effects on youth mental health

Show notes:

• Mural Health effort to increase diversity in clinical trials
• The U.S. Surgeon General’s Advisory: Social Media and Youth Mental Health

🎂 Please help us celebrate three years of the podcast by leaving us a review!

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In this episode, Halle Tecco talks to Emily Oster— health communicator, health economist, and bestselling author. Emily shares her journey from academia to becoming an influential health communicator, advocating for data-driven decision making and empowering individuals to make informed choices about their health.

We cover:

• Her non-didactic approach to helping people make their own best decisions
• Her least favorite types of panic headlines, and how no one would thrive on Doritos® dust
• Pros and cons of the Open Access movement
• Combating publication bias
• Speaking up on controversial topics
• Advice for building trust, combating misinformation, and improving health communication

Emily is on a mission to empower parents by providing the data and tools they need to make confident decisions. After getting a PhD in economics from Harvard, she went on to pursue research in health economics and is now a professor of economics at Brown University. As a mom of two, Emily was inspired by her own pregnancy and the lack of clear information to guide her decisions. She decided to use her expertise in reviewing and analyzing data to help other parents navigate these topics. She is a New York Times best-selling author, whose books include Expecting Better, Cribsheet, The Family Firm and The Unexpected.

Follow Emily Oster on Instagram and X.

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The U.S. Surgeon General's office recently published an advisory report stating "social media can have a profound risk of harm to the mental health and well-being of children and adolescents." In this episode, we revisit our conversation with Frances Haugen, former Facebook product manager and internationally recognized whistleblower.

Frances provides an inside look into how tech giants prioritize profits over public safety. Her journey from Meta's inner workings to testifying before world parliaments sparked a global conversation about social media's role and regulation - a dialogue now echoed at the highest levels of public health.

This episode explores the pressing issues of our digital era that are now receiving official recognition. Learn about the impact of social media on young people's mental well-being, providing context to the Surgeon General's warnings. Frances shares critical concerns and her ideas for safeguards for young people. This is a must listen for anyone with children in their lives!

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In this episode, Glen Tullman reflects on the biggest changes he's seen in healthcare during his 40-year career in the industry. Glen is the founder and CEO of Transcarent, former founder and CEO of Livongo, and managing partner at 7wireVentures. He discusses:

- His early days revolutionizing e-prescribing and electronic health records at Allscripts

- Building Livongo into an $18.5 billion digital health success story

- Lessons learned as a serial entrepreneur and investor with 7wireVentures

- His vision for Transcarent as a consumer-directed healthcare navigation platform

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In this episode, Zach Reitano, CEO and co-founder of the direct-to-patient healthcare company Ro, talks to host Halle Tecco about the flaws in our traditional healthcare model and how Ro is innovating to make care more convenient and focused on patient goals.

We cover:

• Why the current healthcare system does not incentivize building for patients
• How he ranks the priorities of cost, quality, and access
• How the healthcare system is obsessed with quality, but not equally obsessed with scaling that quality
• Why we can't equate healthcare quality and time spent, and the role of technology to increase access to the highest quality products

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