Todd Park, Devoted Health, on building the "American healthcare system as a service"
Jul 31, 2023
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Todd Park, co-founder of Devoted Health, shares his entrepreneurial journey, the mission of Devoted to transform healthcare for older Americans, and the importance of personalized care and technology. The podcast also explores the impact of love in healthcare, building a comprehensive Medicare Advantage plan, and career advice for young professionals in the healthcare space.
Devoted Health aims to transform healthcare for older Americans by offering comprehensive and personalized care.
Todd Park's entrepreneurial journey showcases the evolution from software services to patient-centric care delivery.
Deep dives
Todd Park's Entrepreneurial Journey and Founding Devoted Health
Todd Park, the co-founder of Devoted Health, shares his entrepreneurial journey, starting with Athena Health's mission to improve maternity care in 1997. Despite facing challenges like payers being unwilling to adopt risk contracts, they transitioned to providing software and billing services for healthcare providers. The focus shifted to empowering clinicians and improving patient care, leading to rapid growth and eventually going public.
Devoted's Mission and Innovative Healthcare Solution
Devoted Health's mission is to provide care for older Americans like family, emphasizing the importance of offering the right care at the right time in a coordinated manner. Through a five-layer stack model incorporating a health plan, health guide service, doctor partnerships, value-based care provider, and a purpose-built software platform, Devoted ensures a comprehensive, proactive approach to healthcare delivery.
The Impact of Love in Healthcare and Devoted's Unique Approach
Devoted's commitment to treating members with love and care has led to transformative outcomes. Members describe their experience with Devoted as being loved and supported like never before, resulting in better health outcomes and increased self-care. Stories like Walter's recovery from out-of-control diabetes to organizing a toy drive exemplify the power of compassionate healthcare.
Building Devoted Healthcare: Combining Resources and Experience
Devoted's strategy of simultaneously building a health plan, navigation service, provider group, and software platform from scratch sets it apart in the market. By avoiding legacy dependencies and focusing on controlling all aspects of healthcare delivery, Devoted ensures a consistent, impactful experience for members. Strategic capital investment and a clear purpose drive Devoted's rapid and successful growth in the healthcare sector.
Our guest on this episode is Todd Park. Todd is the co-founder and Executive Chairman of Devoted Health, a Medicare Advantage “payvider” providing virtual and in-home medical care for older Americans and leveraging their technology platform to drive clinical results. Founded in 2017, Devoted’s team of over 2,000 cares for nearly 124,000 members across 14 states. Todd previously served as the White House Technology Advisor and the HHS Chief Technology Officer in the Obama Administration, and was the co-founder of athenahealth and Castlight.
In this episode, I spoke with Todd about
His entrepreneurial journey
His time in the White House
Why Devoted is situated to transform the healthcare experience for older Americans
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