Aug. 14, 2024
In this eye-opening episode, Christina Farr and Luba Greenwood dive deep into the challenges big tech faces in healthcare with serial entrepreneur and Cherish CEO Sumit Nagpal. Drawing from his experience founding five companies over the past 25 years and his time working with Steve Jobs at NeXT, Nagpal offers unique insights into why tech giants struggle to gain traction in the medical world. They discuss: Apple's healthcare ambitions, the untapped potential of hardware in health tech, the importance of understanding healthcare business models, and how lessons from the diagnostics industry could shape the future of digital health innovation. — SPONSOR: AWELL 🌟 Transform your healthcare operations with Awell! Say goodbye to manual work and Excel hell. Awell's CareOps orchestration platform helps design, implement, and improve care flows in days. Trusted by Astrana Health, Commons Clinic, and Better Health, Awell automates processes for faster care model improvements in 2 days or less. Visit awellhealth.com and mention Second Opinion for a free bootcamp. — LINKS: Cherish Health: https://www.cherishhealth.com/ Subscribe to Second Opinion Newsletter: https://secondopinion.media/ — FOLLOW: Sumit: https://www.linkedin.com/in/sumitknagpal/ Christina https://www.linkedin.com/in/christinafarr/ Luba https://www.linkedin.com/in/lubagreenwood/ Ash https://www.linkedin.com/in/ashzenooz/ — RECOMMENDED PODCAST: TURPENTINE VC 🎙️ This Won't Last - Eavesdrop on Keith Rabois, Kevin Ryan, Logan Bartlett, and Zach Weinberg's monthly backchannel. They unpack their hottest takes on the future of tech, business, venture, investing, and politics. Apple Podcasts: https://podcasts.apple.com/us/podcast/id1765665937 Spotify: https://open.spotify.com/show/2HwSNeVLL1MXy0RjFPyOSz YouTube: https://www.youtube.com/@ThisWontLastpodcast — TIMESTAMPS: (00:00) Intro (02:04) Why big tech fails in healthcare (05:00) Has Apple succeeded in becoming a healthcare company? (08:44) Finding adjacencies (10:11) Billionaires' health concerns driving tech investments (14:19) Sponsor: Awell (15:19) Revolving door of healthcare leaders in tech (17:14) Culture clash in tech-healthcare partnerships (19:26) NVIDIA's successful approach to healthcare (20:21) Waystar IPO (24:10) Limited options for health tech companies (26:19) Diagnostics industry parallels with digital health (28:22) Aligning Incentives (31:54) "Follow the Money" approach to healthcare solutions (34:41) The Debrief
