CEO Sean Lane will invest more than $850 million in funding-Healthcare Blog
Author: JESSICA DaMASSA, WTF Health
There is a lot of chatter on HLTH 2021 about the fact that the healthcare AI unicorn Olive is displaying its brand-decorated tour bus in the showroom. Some people disdain whether this is really the best use of more than 850 million US dollars of funds, while others quickly (literally) joined the trend after the company sought to go door-to-door for hospitals-hospitals used the “medical Internet” “Is the vision. But after hearing CEO Sean Lane talk about all this—including what happened at Circulo, the Medicaid program built on Olive’s infrastructure for less than a year—the bus may actually be A grand metaphor for the company to continue to operate, despite the typical stop and start nature of healthcare innovation, it still has to “act fast and solve problems.”
Sean keeps us up to date with Olive: its growth (he said the company “is adding a medium-sized company every month”)… its ever-expanding customer base now includes more and more payers… And because its Olive Assures products can instantly pay claims to hospitals and completely eliminate the collection costs associated with such payments, it has a new status as a full-service clearing house. This is the road ahead you can see from the dashboard! On the horizon, anything will be built on top of Olive’s infrastructure, and Sean gives us an insight into the content of the itinerary.
Olive launched a “library” at HLTH, which is a “market” where other technology companies, including competitors, can sell any clinical, operational, management or other technology that helps to automate healthcare to Olive’s customer base . Sean talked about this market and Olive’s recent venture fund is just part of their work to build the first TRUE platform business in healthcare. (You have to hear how he defines the platform…) So, what will happen to our traditional “platforms” (such as EMR) in the future if/when this more open and democratic platform thinking emerges? And, how about the first company that has been created from scratch on the aforementioned platform? You can see Sean’s enthusiasm for building Circulo as a “medicament program of the future.” We introduced some examples of the elements that this new program will provide for its members: primary health sites, and bringing telemedicine into the community through deception “Circulator”-Provides Sprinter trucks for people on the other side of the digital divide, as well as payment mode functions (zero pre-verification, zero rejection, immediate payment), which sounds a lot like the functions that Olive implements in hospitals with traditional payers . There is a lot to listen to in this one!