Halle Tecco on scaling digital health: digitizing existing therapies cuts costs and expands access, hospital administration software like KitCheck automates EHR workflows, and outdated legacy systems leave room for startups to compete.
There are a couple of things that we do like. So if something already has a reimbursement code, so the insurance companies are already paying other people for that same tool, then if a company can come in and do that digitally and have it be much lower cost, then it's able to scale. We have a company that is taking a known therapy for prediabetics, that is reimbursed, and it's actually an in-person class that insurance pays for people to go to the hospital to take these classes, and they're just bringing it online. And so there's already reimbursement code, they already know that they can fit into the system, and they can do it at a much lower cost and make it a lot easier for patients to do because they don't have to go into the hospital every time. There's a lot in hospital administration, and it's not very sexy, but there's a lot of money for hospitals to be able to deploy better tools that can help them make decisions. The EHR landscape is one of the biggest industries within healthcare right now. Being able to— as KitCheck I think was a really great example— automate some processes that are traditionally done on pen and paper. So hospitals have a lot of great needs that aren't really being addressed by the incumbents. The legacy healthcare technology companies The bar is so low. I encourage all of you guys to go look at the software that's being built by the big healthcare IT companies, and you will be like, I can build that better. From my dorm room, I can build that better.
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