Welcome to a new episode of Digital Health Interviews!

Today, we dive into a brutally honest discussion about digital health with our guest, Sergei Polevikov. Sergei brings a wealth of experience and unfiltered insights into the state of healthcare, both in the United States and globally. In this episode, we explore the challenges and inefficiencies plaguing the healthcare system, the controversial state of electronic health records (EHR), the realities of primary care and telehealth, the impact of venture capital strategies, and the current hype surrounding AI in health tech. Join us for a candid conversation that unveils the hard truths and provides invaluable advice for startup founders in the digital health space.

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00:00 Intro.
00:58 Greetings
01:49 Sergei's background
03:01 What is WellAI? [ Ссылка ]
09:13 For a person, who hasn’t been living in this country for the whole life and experienced other health systems to compare with, how satisfied are you with the care you and your family receive in the US?
15:45 By 2000, health expenditures had reached about $1.4 trillion, and in 2022 the amount spent on health tripled to $4.5 trillion.
According to CMS, healthcare spending in the United States is projected to rise from $4.7 trillion in 2023 to $7.2 trillion by 2031, growing by an average of 5.5 percent annually. And yet, I don’t think this increase correlates with the quality of care. What is going wrong?
21:20 One of your recent predictions is that by the end of the year, Epic will be hacked. A security breach of such an enormous database of patients’ PHI would be catastrophic but I want to talk about it from a different angle. Over this past year, since I came to the US, I’ve talked to around 30 doctors, and none of them ever said how great the EHR they are working with is. Can you explain this phenomenon? Doctors don’t like it, it potentially has lots of security breaches, and it doesn’t help to solve the problem of interoperability yet hospitals continue using it and even switch to it.
26:30 What does the startup that created a great EHR system, would need to do so hospitals would start adopting it?
29:56 Primary care is hard and in lots of cases not profitable. Lots of companies are making the mistake of thinking the opposite and still trying to get in. Why do you think so many companies are making the same mistake over and over again?
36:53 Telehealth is another space where it looks like things aren’t going so well and no one is safe including Teladoc and Amwell. Even though the adoption rates of telehealth services are slowly growing around the world after a large drop after the “end” of the pandemic. What’s happening here?
40:45 You are one of few who actually criticizes VCs and their pump-and-dump strategy. Could you please explain to our audience what this strategy means, how startups are falling into this trap and what are the consequences?
51:55 Let’s finally get to AI, one of the main areas of your expertise. I’ll go right away and ask my main question regarding this. At startup events, 8 out of 10 startup founders I meet are saying they are working on an AI startup. Once you start digging deeper, most of them just connect their product to the API of chat GPT.
Nvidia shares are up 156% year-to-date, all thanks to AI hype.
AI-enabled precision medicine company Tempus AI (btw, the company was called just Tempus, and the name was changed prior to the IPO to Tempus AI) - another company with no profits went public a couple of weeks ago. What’s interesting is that only 2% of revenues are generated by AI-related features.
I have no doubts AI is going to be huge but today in 2024, does this remind you of the dotcom bubble?
56:53 Sergei's last piece of advice to startup founders in digital health.

Thank you for watching this enlightening episode of Digital Health Interviews with Sergei Polevikov. We hope his candid insights and expertise have given you a deeper understanding of the complexities and opportunities within the digital health landscape.

If you found this discussion valuable, please like, share, and subscribe to our channel for more thought-provoking interviews with leading voices in healthcare. Stay tuned for our next episode, where we continue to uncover the real stories and innovations shaping the future of digital health.

See you next time!

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The previous episode with Lisa Voronkova. [ Ссылка ]

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