HealthTech Breakfast Club
by AlbionVC and Founders Factory
AlbionVC X Founders Factory bring a monthly breakfast club together to discuss emerging themes within the world of digital health.
The November edition of the HealthTech Breakfast Club focused on ‘Healthtech x fintech – Is omnichannel reimbursement the future for healthcare?’ The session was held with Julia Hawkins at LocalGlobe.
Thank you to the outstanding panel who really took this conversation to the next level:
- Nader AlSalim – Founder & CEO, Gaia
- Dr Nikita Kanani MBE – Director of Clinical Integration, NHS England
- Sneh Khemka – previously Simply Health, Aetna, BUPA
- Ruchi Sharma – VP Enterprise Strategy, American Express
- Dr. Ali Hasan – CCO, Vitality
- It is important to really understand the differences between the care provision across PMI, cash plans, insurance for specific disease areas, self pay, public health systems – from inpatient vs outpatient, acute/emergency vs chronic, preventative vs reactive – it is different and it affects pathways
- All models for pricing risk are dependent on the data that feeds them – we aren’t going to move away from actuarial approaches quickly even though healthcare is inherently more dynamic. Ultimately, the pricing and underwriting can be separated out, as in other industries, where pricing becomes more tech enabled & patient (customer) engaged, whilst the underwriting relies on the economics e.g., reliable loss ratios
- We can learn lots in healthcare from the best of fintech startups – many of which achieved what they did through 1) excellent customer front end to the complex back office, and 2) starting by solving specific pain points along the value chain
- We need to be cautious of patients falling between gaps if they mix and match different pathways of reimbursement (and therefore care provision) and health equity starts to become a really important consideration – healthcare for the many not the few
- Understanding incentives is essential – there is potentially a disconnect in employers evolving as creating future reimbursement packages for care and yet they are potentially the least incentivised for an individual patient’s long term health outcomes
If you are founder building in the space, we’d love to hear from you. Reach out to @Molly Gilmartin or one of the AlbionVC team.