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The Peel with Turner Novak

Fixing The Maternal Health Crisis with Anu Sharma at Millie

The Peel with Turner Novak

Turner Novak

Technology

4.611 Ratings

🗓️ 23 May 2024

⏱️ 59 minutes

🧾️ Download transcript

Summary

Get Attio, the next generation of CRM: https://bit.ly/AttioThePeel

Anu Sharma is the Co-founder and CEO of Millie, building a better care system from the inside out. Our conversation covers the existing maternal health system, how Millie is reinventing it, and how to succeed building a healthcare company.

Timestamps: (00:00) Intro (03:16) Problems in US maternity care (13:21) Why insurance reimbursement drives healthcare (16:11) How bundled care unlocks personalization (18:48) From fiction writer to 20 years in healthcare (24:22) Why consumers don’t act like consumers in healthcare (26:09) The reason scale matters (27:43) Bundled payments and new care design (32:16) What make Millie unique (35:58) Importance of picking regional markets in healthcare (37:08) The two paths for insurance reimbursement (41:08) Why distribution is the product in healthcare (44:25) Opportunities in cash pay care (48:28) How Anu fundraised without a product (51:06) The future of in-person, hybrid, and virtual healthcare (52:56) Building maternity clinics for $150k

Check out Millie: https://www.millieclinic.com/

Where to find Anu: Twitter: https://twitter.com/anu_anusharma1 LinkedIn: https://www.linkedin.com/in/anu-sharma-b169b12

Where to find Turner: Twitter: https://twitter.com/TurnerNovak LinkedIn: https://www.linkedin.com/in/turnernovak/ Newsletter: https://www.thespl.it/

Transcript

Click on a timestamp to play from that location

0:00.0

When you really look at the statistics in terms of when bad things happen, more than half

0:04.7

of maternal deaths actually take place after the baby is born in the first six weeks postpartum

0:10.2

and kind of continuing into a year, right?

0:12.1

And so to see people once at the six week point is completely insufficient, and about

0:17.5

30% of maternal mortality events happen during pregnancy, which in a weird way makes labor and delivery the safest part of the entire experience.

0:24.6

And that's the thing that most people are like generally freaking about.

0:26.6

Yeah, that's true.

0:27.6

When I think about like all the maybe like a horror story of like worst case scenario, that's it.

0:33.6

It's like a complication during that process.

0:35.6

Yeah, exactly.

0:36.6

So what that kind of translates into is like on the one hand, we don't have enough care, you know, because it is, you know, you just have these big gaping holes, you know, in between visits, which is when most pregnancies really happening over that 46 week journey from when you first conceive to like, you know, when you're last seen at your six week postpartum visit. And, you know, there's just kind of, we have some care that can happen between visits. And then that postpartum period, which is when things really go wrong, you have a single visit, you know. And so it is pretty relatively incomplete in terms of what people are looking for, but it is, you know, kind of this sort of discontinuous and reactive approach, you know, does kind of create

1:13.2

the outcomes that we sort of talked about.

1:17.1

Welcome to the Peel, where we explore the world's greatest startup stories.

1:21.3

I'm your host, Turner Novak, founder of Banana Capital, the venture capital firm with no gaps

1:26.0

and care.

1:27.3

What follows is a conversation with

1:28.7

a new Sharma, co-founder and CEO of Millie. I invested in Millie two years ago, and it's been

1:34.0

fun having a front-ro seat as she builds a company from the ground up to reinvent

1:38.3

maternity care. We hit on all the problems in maternity care, which if you're unacquainted,

1:43.0

that means having a baby. We also hit on all things healthcare, maternity care, which if you're unacquainted, that means having a baby.

1:45.0

We also hit on all things health care, like why consumers don't act like consumers,

1:49.1

how bundled care unlocks personalization, the importance of picking markets, insurance reimbursement,

...

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