Drew Houston's SAT prep startup was rejected from YC in 2005
“So I actually applied in 2005 to the first batch with that SAT prep company, Accolade and was rejected.”
Singh: Accolade cuts employer healthcare spending by 5% to 7% initially
“We're really attacking the entire volume of healthcare spend, and so, you know, we've seen cost savings in the first year, five to seven percent.”
Singh: Accolade saved 2.9% in first year on 100,000-member exchange population
“We just got our first set of data on a 100,000 member population. That's 2.9% savings in the first year.”
Singh: Accolade moved all customer contracts from shared savings to fixed fees
“We've, in fact, moved all of our agreements To take a percentage of our revenues on a fixed basis, but we do want to be aligned with the customer's needs, and so we do that by saying, we'll measure ourselves on engagement.”
Singh: Healthcare platforms should replace carrier support numbers to drive engagement
“The second thing we really have to do is in that early stage of deploying that customer, we have to be great at understanding their data, creating those personalized recommendations, and then finding a way via both consumer-based marketing techniques as well a…”
Rajiv Singh: Accolade proved value via 25,000-person actuarially matched pilot studies
“The first set of Accolade customers were all control versus pilot tests. Where we take a group of 25,000 people in a population and compare them to another 25,000 who the actuarial said looked exactly alike.”
Rajiv Singh: Healthcare winners must focus on consumers, not just enterprise buyers
“The companies that will succeed will fundamentally serve someone who's not paying for their own healthcare, who's not their buyer, but when you lose track of that buyer, when you lose track of that consumer, you lose your way.”
Rajiv Singh: Accolade uses a hybrid model combining PMPM fees with incentives
“We're a combination of that meaning we'll charge a PMPM fee with an incentive associated with outcomes.”