“A Tale of Two Systems.” That could be the title of my future book if I ever get around to writing another. I’ve been thinking a lot these days about how we seem to now have a burgeoning cash-pay healthcare system, coupled with an entirely distinct one that runs on insurance. The problem? The data isn’t connected between these two disparate systems. One example: I recently got a whole-body MRI scan, but my primary care doctor has no idea and hasn’t seen the results. Likewise, I’m speaking with countless people who are taking GLP-1s, HRT, and other therapies via direct-to-consumer websites, and this important and relevant information isn’t anywhere in their electronic medical record.
On the one hand, those who can afford it are getting convenience and concierge care. But sometimes I wonder if we’re double or even triple paying. Most Americans are already paying a fortune to get health insurance through employers, both in terms of what’s coming out of the paycheck and the premium, while noticing that our take home pay doesn’t seem to be going up. And in addition to that, they’re paying out-of-pocket for care and struggling to meet their deductible.
Something has to give, which is why much of our content over the next few months will focus on the perfect storm that we’re currently in. We’re seeing general inflation, coupled with rising hospital costs and specialty drug costs. This is a moment that will force creative solutions because at some point the dam has to break. We are spending $2 trillion more on healthcare than our peer countries and yet somehow still underinvesting in primary care, behavioral health, and prevention. It might also be the breakthrough moment that digital health needs.
So, with all that said, any company in health-tech that is actually helping improve efficiency, reduce waste, and divert spending to the right places will thrive in this environment. A few of the companies listed in our news and deals round up are doing just that, so let’s dive in.
And a message on our upcoming webinars:
October 2nd @ 3pm ET, Hosted by Inkhouse, I’ll be doing an AMA Session about my book, The Storyteller’s Advantage. Register here, and submit your questions beforehand here.
And on October 3rd @ 3pm ET, the brilliant Stephanie Davis and I will be discussing the recent happenings in Digital Health IPOs. Stephanie has a long career in equities research, and is the go-to advisor for companies thinking about going public. You can register for this webinar here or by clicking down below.
