Sramana Mitra: What is your assessment of the post-COVID world? What are some open problems in the post-COVID world where you would like to see new startups?
Eric Langshur: It would be around virtual care. We are on track to a billion virtual visits this year. Every provider in the world has gotten that memo. Virtual care is here to stay and it’s creating massive opportunities to help the entire healthcare economy do a better job of that.
Although there have been retrenchments, we are never going back to where we were. The offshoot of that then is the data explosion. The increase in healthcare means that data is also generated. Google data suggests that healthcare data is doubling every 73 days.
How do we drive liquidity in that domain? How do we do a better job in interoperability? There is a lot of capital going into that space and there is a giant value to be created there. Healthcare data privacy is a hot space. We have a project that is driving the healthcare consumer to be the owner of their healthcare data so that they control what happens with it.
We have a cool joint venture with the largest data management platform out there that takes all the ambient information and marries it with healthcare information in the service of managing the health of a population at an individual level. It’s an exciting moment for a healthcare entrepreneur to make things better.
Circling back to the post-COVID world, I think the institutional and historical providers understand that the digital disruptors are here and they now need to adopt to take advantage of these new technologies.
Sramana Mitra: Is there any other top-level leadership issue that you would like to discuss that I haven’t asked you about?
Eric Langshur: I would point to the fact that we see the total health care ecosystem. When we study data from other industries, it shows that digital makes winners and losers. You look at the work that has been done to identify digitally-strong companies and cross-reference it with revenue performance. There is a direct correlation. If you are not piling on to digital as a core part of your enterprise strategy and paying attention to the digital opportunities, you are going to be left behind. The data also shows that the cost of being a digital laggard is disastrous.
Second, the pace of all of this is accelerating. There is massive data to support that. The implication is that if you are not organized in taking advantage, then you are going to be left behind and it’s going to hurt your business.
Sramana Mitra: Thank you for your time.