How Fintech is Reshaping Our $4T Healthcare Industry

a16z Podcast

a16z

Science, Innovation, Business, Entrepreneurship, Culture, Disruption, Software Eating The World, Technology

4.4 • 1.1K Ratings

🗓️ 22 May 2023

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode, you’ll hear directly from 6 founders trying to reinvent the healthcare system with the help of Fintech. They’re tackling everything from the lack of price transparency, the complexity of billing, getting clinics paid on time, mental health support for the masses, virtual first-care, and the millions of Americans about to lose access to Medicaid.

Transcript

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0:00.0	Welcome to Part 2 of our series about the emerging intersection between healthcare and FinTech.
0:09.0	If you're just catching up, in Part 1 we chatted with A16Z general partners Julie U and David Haber about the current state of health care which hint is not very good but also how advances in FinTech are creating a unique opportunity to solve some of the industry's
0:26.0	grand challenges. So today, in part two, we wanted to place you right in the action, where founders are already building.
0:34.0	You'll hear directly from six different founders
0:37.0	who break down three key things.
0:39.0	Number one, the key challenge they're facing.
0:42.0	Number two, the key challenge they're facing.
0:42.6	Number two, the catalyst for deciding to dive into
0:46.2	one of the most notoriously difficult industries to fix.
0:49.6	And number three, their vision for doing so.
0:53.6	Here is a sneak peek.
0:56.0	Nobody knows the price of health care.
0:57.8	We say nobody, we mean nobody.
0:59.8	It's unaffordable, opaque, and it's becoming a leading category for viral means as a result.
1:06.0	Around 50% of every dollar that is being invoiced is being uncollected.
1:11.0	That's unheard of.
1:12.0	Health care, broadly known, known to be among the worst
1:15.2	consumer purchasing experiences.
1:17.3	We have definitely talked to some clinics where
1:19.6	is they don't get paid one month,
1:22.4	they like literally can't make payroll.
1:24.6	What is actually being unwound
	...

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