a16z Podcast How Fintech is Reshaping Our $4T Healthcare Industry
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May 22, 2023 
Fay Rottenberg, CEO of Firefly Health, aims to transform healthcare through value-based virtual care. She discusses the pressing issues in healthcare pricing and the complexity of billing that leaves both patients and clinics frustrated. Fay highlights the urgent need for mental health support and the millions at risk of losing Medicaid access. The conversation dives into innovative fintech solutions driving efficiency in clinics, as well as the significant shift toward value-based care to enhance patient engagement and outcomes.
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Healthcare Price Transparency
- Healthcare pricing is complex and opaque, even providers often don't know the costs.
- New transparency laws are changing this, making pricing data accessible, like a maturing technology lifecycle.
Chris Severn's Background
- Chris Severn's background as a healthcare consultant provided him unique insight into payer-provider reimbursement contracts.
- These contracts, previously secret, became more transparent after January 1, 2021, enabling innovation in price transparency.
Complexity of Healthcare Pricing
- Price transparency laws mandate disclosure, but complexity remains due to patient-specific factors, geography, and coding systems.
- Comparing prices is challenging due to varying billing systems and formulas across states.