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Episode Summary:
On this episode of The Raz Report, Jason Raznick speaks with Vivek Garipalli, CEO of Clover Healthon his career path that eventually led his company to go public via Chamath Palihapitiya's IPOC SPAC.
From early on Garipalli describes his most hated job as "one where I have an employer". With the "itch to build something" Garipalli drops out of college and sets out on a journey that leads him to learn to appreciate failed businesses and the business of medicine. So much so that at age 27, he buys a bankrupt hospital with "youthful naivity" as the only bidder and sets off on turning it around.
Born to doctor parents, Garipalli realizes from an early age the disastrous consequences saddling physicians with administrative duties can bring.
"Healthcare is a business in which the path to profitability conflicts with consumer interest" says Garipalli. This is why we decided to arm physicians with free data that enables them to make better clinical decisions that cut costs in the long run.
Throughout his long career that even had him cold calling companies at times, Garipalli has learned that if a a business does not offer a clear solution to a problem it will not succeed no matter how much financial backing it has. He now approaches all problems in this manner: How can we offer a clearly defined and measurable solution?
He describes Clover Health Investments (NASDAQ: CLOV) as a long time horizon where the main mission is to drive clinical value within the Medicare space. "Obviously we believe we will be very successful" says Garipalli but also adds "Failure: It's not as bad as people make it out to be.You pick yourself up and you kind of figure things out from there."
Hosts:
Jason Raznick
Twitter: https://twitter.com/jasonraznick
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