Does data fixes Public healthcare ?

healthcare google

The Exchange caught up with Terry Myerson and Lisa Gurry this week, the CEO and CMO of Truveta, a young company that wants to collect oodles of data from healthcare providers, anonymize it, aggregate it and make it available to third parties for research. But now they are at a health tech data company.  After Myerson left Microsoft he worked with Madrona, the Seattle-area venture capital firm, and the Carlyle Group, a huge investing group with a taste for private equity.

 A few years later, several former Microsoft co-workers of Myerson had wound up at Providence, a healthcare giant. They reached out to Myerson around when COVID-19 was first locking down the United States. The former Microsoft exec agreed to take part in a few calls but didn’t formally join them as he was stuck at home.


Truveta has around 50 people today and will scale to around 100 this year, Myerson said. Things are still early at Truveta, but the company announced last week that it has signed up 14 healthcare providers to help with its data goals. Those firms are also investors in the company (Myerson put in the capital as well). I was curious about the company’s business plan. Per Myerson, Truveta will charge different rates depending on who wants to access its data. As you can imagine, commercial entities will pay a different price than independent researchers. Next for Truveta is getting more data, locking down its internal data schema, collecting feedback from researchers, and, later, approaching commercial access. Healthcare in America is inequitable — something that the pair of Truveta executives stressed during our call — thus giving the company a huge market to improve and make less racist and sexist.

It’s a startup to keep in mind. As is Zolve, a globally themed neobank with a focus on helping ex-pats have a working financial world. I couldn’t get to it, but TechCrunch wrote it up. More here. And in case you didn’t have time to watch television during work the last few days let’s talk about Robinhood. Which enjoyed a Congressional hearing this week that was mostly dull apart from some notes on the fintech giant’s business model.

Various and Sundry

First, that Clubhouse’s metrics are finally starting to match the hype around the product. People are showing up in droves, pushing its total download figures over the 10 million marks. Truveta has crossed the 500,000 subscriber mark. And to close, a Chicago-based, home-focused insurance startup called Kin crossed the $10 billion “total insured property value” mark this week. The Exchange reached out, asking the company about its economics. After all, it’s not hard to run up the premium volume if you are selling dollars for 50-cent pieces.

Ruth Awad from the company responded that her company’s “ loss rate is 53% and our gross margins are 32%.” Not bad at all. Given how quickly insurance has gone from experiment to public-success, Kin is a company to keep tabs on.

Market Notes

A lot has happened in the past few days that we couldn’t get to. Adyen’s earnings, for example. The European payments platform reported H2 revenues of €379.4 million, up 28% compared to the year-ago half-year. And from that, it reported an EBITDA of €236.8 million.  And there were some rounds that also fell through our fingers. Investments like CloudTalk’s recent $7.3 million Series A. The Slovakia-based startup previously raised a $1.6 million seed round in 2019. The startup, as its name suggests, offers cloud telephony services to call centers.

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