Matt Schappell, Principal at Frist Cressey Ventures, discusses how large language models and autonomous AI agents will impact clinical workflows.
Opinion
Schappell: EHR incumbents hinder innovation and interoperability in healthcare
“There needs to be interoperability within healthcare, and you've got a handful of folks who, Have a stronghold on the market and which is for better or for worse, but it's creating some challenges to adopt innovation, and to my point earlier, we are at a break…”
Assertion Supported
Schappell: 75% of healthcare is still delivered via fax machine
“I saw a statistic that 75% of healthcare is still delivered via fax machine.”
Insight
Schappell: Healthcare enterprise sales cycles usually take 12 to 18 months
“Sales cycles are, you know, we're high-fiving if you get a 12 month sales cycle. Everything else is, you know, usually 12 to 18 months before you get a decision maker to sign off and say, you know, let's, let's move forward.”
Assertion Partly supported
Schappell: UHS lacked electronic health records between 2011 and 2015
“At a time where the system I worked for UHS, you know, we didn't have an electronic health record. Which is crazy. People would think, oh my goodness, I didn't realize you worked there in the nineties, Matt, but I didn't. You know, this was in, in, you know, 2…”
Disclosure
Schappell: Frist Cressey Ventures will top $1B AUM upon closing Fund IV
“We are currently on our fourth fund. Once we close this fund, we'll be north of a billion in, in AUM.”
Disclosure
Frist Cressey writes $5M to $15M checks, skipping FDA-regulated deals
“So very practically we write five to fifteen million dollar checks and seed and series a stage businesses healthcare technology, healthcare services The things we don't do is anything that requires FDA approval. So think med device, life sciences, biotech, tho…”