Healthcare System

“Usually healthcare system was based on a lot of working people who finance people who got retired, but currently the share of a senior population, I think are, you know, is growing rapidly and this system, the previously many years ago built system won't work.…”

“One of the things that happens a lot in the healthcare system, because it's not a fault of the healthcare system, it's just, it is a, it's the nature of whatever it is, is that a lot of communication gets distilled down to one person, and then there's no oppor…”

“Why is it so hard to reform the education system and healthcare system? It's really because of loss aversion theory. So even when people think something's not working, they fear the change more.”

“We're in for a tsunami of healthcare needs and the system is not prepared to deliver it.”

“Gallup runs a poll every year on the top institutions that Americans trust. Small business has been number one since the poll started. It is 44% higher than Congress, obviously. It's also 22% higher than the healthcare system and it is remain number one.”

“Healthcare you know, violates kind of every principle of a competitive market from econ textbooks. You know, thinking about, you know, even what information does the patient have? What information does the payer have versus what are the incentives of the p…”

“And we are going to have a healthcare system that has, you know, third party payers forever and the need for very tight regulation.”

“And yet, if you look at our healthcare system, nothing in the healthcare system thinks about someone who is at risk of heart disease exercising as a healthcare intervention. No payer pays for it. No one incentivizes you to do that.”

“Hospice care, which is a really, I think compelling. Proposition for patients. You know, it's a better way to end your life or to experience the final, you know, months of your life. And it's also a positive for the healthcare system. It's lower cost.”

“Our hypothesis is it's happened because the healthcare system has let people down, so they have felt like we have to be more proactive with our own health, and that was enabled in the context of getting a lot more information, so people could start to have awa…”

“It's not just the clinical person. It's not just a CIO or CFO. It's everyone at the table. We're talking to the guys that are in the basement, the biomed guys who work with the devices, the IT guys that get burnt out because they have to operate and manage the…”

“When you have high stakes and like high frequency workflows, like that's probably not gonna get absorbed into like the healthcare system proper. Very, very quickly. But when it's lower stakes, higher frequency, like our, you know, workflow because there is tha…”

“The reality is, is that there are so many incentives aligned behind fee for service. It's gonna be very hard for that to change. And I think it's going to, it'll play out over a decade or more just because the inertia of the system is there.”

“When the laws were changed because of shelter in place for telemedicine visits, you know, it used to be illegal to do a telemedicine visit across state lines. But now all of a sudden with COVID and shelter at place, not only was it made legal, but it could eve…”

“You as a patient are told to wait weeks for a doctor's appointment, and you assume that that's because every doctor is booked out solid. But it actually turns out that a lot of the capacity in our system goes completely wasted.”

“And the system that supports you in doing that is going to feel like a game because it has to be engaging. It has to be something that you enjoy dealing with. And so like, there's no question like that's going to happen.”

“We are now in this period of time when most systems in our world are literally collapsing around us, whether it be, I think, our healthcare system our social security system, how we care for the elderly our education system, our financial system, almost every …”

“If five of the Fortune 50 companies walked away from the big three insurance companies and the big three PBMs, they'd have to change their business models, and immediately, immediately the entire healthcare system would change.”

“Today I think one fix at least will be AI. And the fact that, you know, we will be able to build these companion bots companion AIs that are able to communicate with people, talk to people, and be there when you need support. And that will happen, I think, in,…”

“And certainly when the easiest but not the best way to remove costs from the system is either to deny care to patients or push more of the payment burden onto patients, that's exactly what will happen.”

“Billions are lost in unpaid claims.”

“Canada's got a very socialized system and I don't think it's a great system by the way. So one of the things that vexes me was when I hear Americans talk about, oh my God, if we just had Canada's healthcare system, I'm like, knock yourselves out. Like I wouldn…”

“Only half of people are taking their prescription as prescribed three months after that prescription was written.”

“The system is not built to deliver the outcomes that you're talking about a productivity, the productivity ought to be around delivering more health, right? That should be what we're, But it's not what it's doing. It's productivity around health care. From the…”

“I think if you fast forward 10 years, I think a large percentage of the world's population will be wearing a continuous health monitor and it'll hook into everything that you do as it relates to the healthcare system and doctors.”

“If you really want to change healthcare, in some ways you have to give power to the people, like get them to rise up.”

“We're trying to remove 20 to 30% of the cost of that procedure or of that technology with our investment.”

“Every day you shorten clinical trials is a million dollars that is saved to the healthcare system.”

“Friction is the wrong model for what needs to get fixed in the healthcare system. It's resistance. Somebody makes every dollar in the 3.2 trillion dollar economy here. They like making that money.”

“You can't change the system from within. So we gotta do something more radical from outside.”

“I think the reality is what needs to happen is never going to happen. Which is like you have a universal payment system.”

“Actually, those, all those informations are not very documented. Actually, not documented at all. How they're incentivized, how they work, why they are doing that, all those things.”

“Similarly, we could toss out the healthcare system and maybe start fresh and it, and that'd be an intriguing sort of, ah, thought discussion. But in reality, we can't do that either. And so what we're gonna see is people working within the system.”

“And then over time, you know, there'll be future regulatory changes to you that probably cement some of these changes and push us further forward, but I bet for the next decade the disruption comes from the private sector, and so I feel happy to be here.”