YouSaid · the spoken record
Sean Duffy
- lines on the record
- 68
- first
- 2024-01-18
- most recent
- 2024-01-18
- sittings or episodes
- 1
- sources
- podcast
Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections
“I mean, there's a lot of stakeholders. The buying cycles are really long. You're dealing with not just HR leaders, but consultants and their plans and their channels. And it's a very multi-stakeholder sales process. And still a risk-inverse environment. But there's a little bit of like a known way to do it. And when Omada founded, that was far less so. I mean, you had seen Castlight work toward selling employers, but a little bit not the way that Armada was doing it. We figured out a way to bill through claims. We took our trials to the American Medical Association, got them to issue the first ever digital specific CPT code, just literally for billing infrastructure. Now there's many startups that have figured out on the back of that, how to bill through claims and contract as a provider like we talked about before.”
2024-01-18 · a16z Podcast · Introducing Raising Health: Fireside Chat with Sean Duffy · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, yeah. So, I mean, the go to market, it's very different. I think there are more plays. There's still kind of things to be learned. I think if you use Omada as an example, we started targeting self-insured employers that can turn into business with plans. And there's a little bit of emotion now that Slightly more codified now. Now, albeit it's still very difficult, very capital intensive, but it's more of a known thing. And there's been examples.”
2024-01-18 · a16z Podcast · Introducing Raising Health: Fireside Chat with Sean Duffy · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I mean, we talked about the investment landscape. I think equally, you've seen drastic differences in both the go-to-market landscape and the talent landscape”
2024-01-18 · a16z Podcast · Introducing Raising Health: Fireside Chat with Sean Duffy · IDENTIFIED FROM THE TRANSCRIPT · source
“And I think that was very much sort of in our mind for launching the BioFund, which came after the investment in Mada, that realizing that you were a tech company and there are other tech companies that happened to be in life sciences or in healthcare, but were being built like tech companies. And that was the opportunity.”
2024-01-18 · a16z Podcast · Introducing Raising Health: Fireside Chat with Sean Duffy · IDENTIFIED FROM THE TRANSCRIPT · source
“And then you go to the tech side and they're like, how about that budget item for that million dollar peer-reviewed study and the RCT, you're thinking about running? I don't think we need that. And so, you know, and you'd work to kind of explain and.”
2024-01-18 · a16z Podcast · Introducing Raising Health: Fireside Chat with Sean Duffy · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, the bottle of fund itself. I mean, it's night and day different. Yeah, we were the first major healthcare investment from Andreessen, but there were very few conversions funds. And you'd be on the healthcare kind of fund track. And they're like, well, excuse me, where specifically is your monopolistic IP? And it's going to be just so easy for any health plan to build software. The software, you just”
2024-01-18 · a16z Podcast · Introducing Raising Health: Fireside Chat with Sean Duffy · IDENTIFIED FROM THE TRANSCRIPT · source
“When you are raising, you were raising probably from tech VCs primarily. And now there are examples of tech bioVCs or health tech VCs that are sort of doing both. And actually, it's worth noting that actually async's investment in a model predates the bottom fund itself. How has the sort of investor landscape changed for you?”
2024-01-18 · a16z Podcast · Introducing Raising Health: Fireside Chat with Sean Duffy · IDENTIFIED FROM THE TRANSCRIPT · source
“I quickly realized how hard it was to sell into enterprise health. This was kind of a moment in time where, you know, it's like, oh my gosh, Zeitgeist was that 20 something founder that goes off and builds like a $10 billion company. And you'd be with these health plans. I'm like, I've never called ourselves a startup. We were three people. And Omada was a digital health company. You had to quickly try to, you know, frame yourself as a measured, thoughtful business in order to have success.”
2024-01-18 · a16z Podcast · Introducing Raising Health: Fireside Chat with Sean Duffy · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, exactly. And so to be honest, I mean, the last 10 years has been that scene from Apollo 13 with the square CO2 cartridge and round hole where you just try to like somehow pull it off with the parts on the ship before your oxygen depletes, which is your bank account and startup language.”
2024-01-18 · a16z Podcast · Introducing Raising Health: Fireside Chat with Sean Duffy · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, no, and I mean, in the early days of Armada, as for instance, you'd say hi to a health plan and say, I want a contract as a provider. And like, okay, great. Well, where are your clinics? We don't have any. Excuse me, where are your clinics? No, no, no. We're a provider. We don't have offices. They're like, well, you can't contract with our network team.”
2024-01-18 · a16z Podcast · Introducing Raising Health: Fireside Chat with Sean Duffy · IDENTIFIED FROM THE TRANSCRIPT · source
“A journey. I mean, we were a little ahead of our times. I think when we founded the company, the world kind of didn't know what to do with us.”
2024-01-18 · a16z Podcast · Introducing Raising Health: Fireside Chat with Sean Duffy · IDENTIFIED FROM THE TRANSCRIPT · source
“EASO first just, I mean, I'm here in the injury offices speaking with someone who probably isn't in the same camp, but I've always been pulled between technology and science and healthcare. And originally, I thought I had to choose. I had to pick, okay, tech or healthcare. So after undergrad, even though I did my pre-med recs, I worked at Google for a couple of years. Went off to medical school. I was enrolled in Harvard's MDMBA through that, came up with the idea for AMADA. And really the key reflection was a statement of where the market was at at the time. I'd be with my tech friends from Google and, oh my gosh, these like Fitbits are going to change healthcare. My medical school classmates were like, well, where did the level one evidence? What diseases are you targeting? And so the idea for Romata was to build a convergence company, one that didn't sacrifice on technology and design, but tried to do so in such a way where it earned the trust of the existing healthcare market. So that led to the business. And zero to one.”
2024-01-18 · a16z Podcast · Introducing Raising Health: Fireside Chat with Sean Duffy · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, I think you're at a million, you're on strong foundations. As long as you're serving your members well and you're serving your customers well, it does become slightly easier because we're in a new state in digital health where it's a little bit more accepted or there's a little bit more trust. We now have published trials, data, et cetera. So we're staying hungry as possible. And I think it just shows that the space, though, has progressed a lot. It's still relatively nascent relative to having the impact that it can and will”
2024-01-18 · a16z Podcast · Introducing Raising Health: Fireside Chat with Sean Duffy · IDENTIFIED FROM THE TRANSCRIPT · source
“Oh, for sure. No, I mean, a million, you know, we're really proud of it. I'm proud of it. I'm proud of the team. I think it's a lot of people. It's big impact. And I think if you pull up, I think it is a statement on where digital health has come from and that it's possible. Admittedly, I feel two ways about it. I think the positives are, my gosh, it took so many years of toil to even get to the couple of thousand. But then if you compare the million to the task at hand of actually impacting epidemiology and really doing what we need to do for the business, we haven't really made a dent yet. Kind of told our teams, let's celebrate for 30 seconds and let's go try to get it to 10, 20, 50, and beyond.”
2024-01-18 · a16z Podcast · Introducing Raising Health: Fireside Chat with Sean Duffy · IDENTIFIED FROM THE TRANSCRIPT · source
“There's a reason that artificial intelligence is a buzzword and artificial empathy is not And I don't think there is any substitute for just the human accountability. And in fact, I actually think that maybe in this era of AI, it may actually come more valuable, human time, handcrafted goods, like proper human caregivers, that may feel more valuable. So in the same vein, you can leverage not just them, but TIP and augmented support through these models in a way that I think just will transform outcomes and impact the world.”
2024-01-18 · a16z Podcast · Introducing Raising Health: Fireside Chat with Sean Duffy · IDENTIFIED FROM THE TRANSCRIPT · source
“Maybe because he spent so many years in the wilderness of early digital health, Sean is an optimist about the future of AI. He shared how Amata is leveraging AI today and how the company is shaping its caregiving strategy accordingly.”
2024-01-18 · a16z Podcast · Introducing Raising Health: Fireside Chat with Sean Duffy · IDENTIFIED FROM THE TRANSCRIPT · source
“Be honest, I mean, the last 10 years has been that scene from Apollo 13 with the square CO2 cartridge in round hole where you just try to somehow pull it off with the parts on the ship before your oxygen depletes, which is your bank account in startup language.”
2024-01-18 · a16z Podcast · Introducing Raising Health: Fireside Chat with Sean Duffy · IDENTIFIED FROM THE TRANSCRIPT · source
“Never calling ourselves a startup. We were three people, and Omada was a digital health company. What needs to happen for an innovation ecosystem to flourish in a way that wasn't there before? Could it be done more effectively or efficiently? Like, look anywhere besides the US and you find ways that one could. Let's just pretend I was a hired gun CEO brought in today. What would I be doing differently? Day one, great, just joined Armada. I'm the CEO. What would be the next play? A reason that artificial intelligence is a buzzword and artificial empathy is not.”
2024-01-18 · a16z Podcast · Introducing Raising Health: Fireside Chat with Sean Duffy · IDENTIFIED FROM THE TRANSCRIPT · source