03:00 – Niko and Seth provide background on platform businesses
06:50 – The Surescripts experience
13:35 – How OMNY creates value for users
16:08 – Sempre Health’s approach
18:58 – Which side of the market should be charged?
23:49 – Anurati discusses incentive alignment
28:15 – Swift’s rigorous credentialing process
01:36 – Carlo Perez explains how Swift tackled the issue of building a multi-sided platform
04:55 – Niko on starting by adding real value to one side
07:39 – Sempre’s rationale for focusing on the payer side at the outset
11:55 – Leveraging early adopters to gain experience and credibility
16:20 – Financing multi-sided platforms
21:46 – Lessons learned by these entrepreneurs
Redox is an example of a platform business model in healthcare. We connect healthcare organizations and software vendors with reusable technology, thus creating a scalable network of data exchange. In addition to Redox, there are a number of other really innovative companies using platform business models to solve major challenges in healthcare. The opportunities to make a positive difference in how healthcare is delivered are exciting, but the challenges are numerous. So a number of us decided to get together to share experiences and ideas. Our guests for this two-part program include:
- Anurati Mathur, CEO of Sempre Health
- Carlo Perez, CEO of Swift Medical
- Dr. Mitesh Rao, CEO of OMNY Health
I was pleased to have Seth Joseph, managing director of Summit Health, join us as moderator. Previously, Seth was head of corporate strategy for Surescripts, one of the few nationally scaled multi-sided platform businesses in healthcare. Surescripts is now processing 19 billion clinical transactions a year. In the first episode, we examine multi-sided platforms, networks, and business models.
Part two starts with ideas on how to tackle the chicken or egg problem, the concept of viral growth, and how to finance platform operations. Finally, we tackle the problem of what makes healthcare so different for those launching multi-platform businesses.
Our thanks to Seth, Anurati, Carlo, and Mitesh for sharing their experiences and opinions. These are some of the creative and passionate people that are working hard every day to change healthcare for the better. We look forward to watching their companies grow in the months and years ahead.
As always, thank you for listening to the Redox Podcast!