The complexity of the US healthcare system is a pressing concern for many, and industry leaders are emphasizing the need for startup founders to grasp the big-picture challenge. Tiffany Wilson, president and CEO of the University City Science Center, highlighted that beyond perfecting technology, understanding its place within the wider healthcare ecosystem increases the likelihood of making an impact on patients. Nora Dowd Eisenhower, Volunteer State President of AARP Pennsylvania, also stressed the importance of paying attention to trends at all healthcare levels as they can impact a company's effectiveness.

Key Insights for Healthcare Success

Understanding the Context

Founders often focus solely on product development without considering the health system context. Without this understanding, their tech may not integrate well into patients' lives, undermining accessibility. Bon Ku, a program manager at ARPA-H, emphasized that founders should consistently revisit the problem they're trying to solve and consider all stakeholders. For example, one should ask if the problem is truly worth solving and if all relevant parties have been considered during product development.

Considering other stakeholders' perspectives is crucial. It means thinking ahead about insurance coverage and regulatory issues. If founders know the patient well, they are more likely to succeed. Lily Higgins, corporate chief medical officer of AmeriHealth Caritas' Pennsylvania Medicaid, shared an example where a startup's product test failed because participants lacked proper home outlets. By understanding the patient's circumstances, a simple fix like an extension cord could have been offered.

Collaboration for Effective Healthcare

Generally, strong healthcare systems are built on collaboration. Between providers, payers, researchers, founders, and other stakeholders, many groups contribute to a single person's treatment. Wilson emphasized this, and Higgins recalled an example where she worked with a pharmaceutical vendor and medical equipment provider to create a medication administration system.

Patients, providers, and researchers can share feedback from the start. If founders understand how their product fits into other sectors, it enhances their ability to help people. Ku from ARPA-H stressed the need for extensive user testing and feedback to ensure that new products are accessible to all populations.

In conclusion, startup founders need to recognize the complexity of the US healthcare system and work together with other stakeholders to provide effective solutions. By understanding the context and collaborating, they can make a significant impact on patients' lives.