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How COVID-19 has caused big shifts in healthcare

December 01, 2021 00:00 AM UTC
- Updated December 08, 2021 15:53 PM UTC

A discussion with Color CEO, Threshold Co-founder and Carbon Health CEO.

Transcript
so those of you who are working and investing in this space for for years, you know, I think there's long been this question of like, what's it really gonna take to change our health care system in this country. And I guess the answer was a pandemic or or was it like what do you think will be the lasting changes, whether it's the way uh private public sectors work together um and companies within the private sector collaborate um the regular circulatory system access, like what are the lasting changes? What do you hope will be the lasting changes? I would see the biggest secular shift I've seen the health care industry is that today measures of the health care delivery is done by legacy service providers who don't have much tak we just use third party systems and they just like exist because there is a source hole in a region. And I think the over the next decade or so a much larger percentage of the delivery will be done by companies which deeply integrate operations, clinical technology together. So health care providers will have to be, you know, implements and building technology like much deeper face. So that transition is almost going to is almost certainly going to happen. And I think what the pandemic is created the there's a very dynamic situation like your your patient works go up by five x six x like overnight and like it's impossible for a traditional additional campus who doesn't own the technology to be able to work in this environment. So it actually is pushing more and more of the care to companies which can really iterating how did in their credible model in a weekly, monthly basis, it's just really accelerating the ship. That would like to happen anyways. Yeah, I mean I think if you think about innovation and technology like duck move quick and break things and healthcare is historically then moves slowly and don't kill people and so that meant that things just took time and being an investment things means you have to have patience. The trends that we're talking about aren't necessarily new, empowering the consumers using virtual care. The fact we're calling it telehealth, I don't even own a telephone, like being on a phone is not innovative care, it's leveraging care models with technology and what covid did is it took these, these ideas out of innovation or we'll experiment with it to a business necessity overnight. You had to change your care models to be able to reach your patients and that genie is out of the bottle and it's out of the bottle in the sense that help systems were broken the things they said they couldn't do, they suddenly had to do and did it and the consumers are like, wait a minute this works for me, I need these modalities and they're not going back and so I do think it is the catalyst, the jolt to the system to actually lead to transformative change. But I think the companies that are going to capture it including the ones around the stage with me today, it's the new entrance that have those first principles are thinking about it differently. So I'm going to be the healthcare companies of the future. I'm just building off of that and I'm curious, you know, you guys, you were at it for several years, pre covid, but doing something kind of different, you pivoted, you went through yourself a pretty massive transformation and laying down infrastructure with partners to do what you're doing now. Just just give us a little bit of a sense of the scale of how much you transform the company. Yeah, it's been a very big kind of threshold moment for I think a lot of folks who have been kind of working on things that You could serve something that looked like it was 20 years in the future. And I think what happened in the last two years is that complete change people's expectations, both in terms of the, you know, individuals like all of us as well as the buyers um, in terms of immediacy and what's necessary. I mean like right now we're running for example, the biggest school testing program in the entire country, you know, across uh, well over a dozen states. Um like they're almost as many testing or vaccine sites that were running that are as our Walgreens in the US and that was all infrastructure that got, you know, put up in the last year. Right? And um, and to your point, like, you know, I really like the, I think one of the big disconnect that happened is that all used to be very tied to physical capital expense and physical infrastructure And but when you're, when the question is like how do I do 30 times the number amount of testing that we now as we were doing last year, how do we vaccinate millions of people? You need to fundamental disconnect that from like building buildings and you know, hiring huge armies and so on. And I think that like forcing function I think has forced like you know, this this more distributed model of care like you know, that had been I think slowly moving for a long time, right? Like you know, but number of companies like ours like you know, like carbon and so on had been trying to push health care to the edge, but this is like, you know, just basically shoved it uh, you know at a pace that would have been impossible I think, to synthesize otherwise