The Pulse by Wharton Digital Health

Nita Sommers is an Operating Partner at Khosla Ventures focused on health care. Nita has spent over 20 years working in the health technology sector, with a passion for early-stage, high growth companies transforming health care. She was an early member of the R&D team at athenahealth, which went public in 2007. Additionally, she was one of the first executives at Castlight Health and later managed the company’s IPO in 2014. At Castlight Health, Nita led the company’s early sales efforts and later ran strategy, business development, corporate development and investor relations.  Most recently, she was President of Honor, where she was responsible for all aspects of growth including sales, marketing, customer success, business development and corporate development. In addition to her work at start-ups, she also spent several years consulting with McKinsey’s health care practice and working across a number of healthcare industry sectors while with McKesson. Nita enjoys working with early stage companies on growth strategy and execution, including product strategy, commercial strategy, sales management, business development and organizational development. Nita has an M.B.A. from Stanford Graduate School of Business and a B.A. from Harvard University. In this episode we discussed: Nita’s experience leading, exiting, and advising first-wave (1990s: athenahealth), second wave (2000s: Castlight) and third+ wave (2010+: Honor, others) digital health companies spanning three decades of health tech What we can learn from these companies’ ascent, as history repeats itself: finding unmet need in a large market, narrowing in on a core set of business challenges, and proving value, not just scaling for scale’s sake What makes the Operating Partner role unique in venture capital, and why her position at Khosla Ventures is distinctive across the healthcare fundraising landscape Tactical advice to women on breaking the glass ceiling as an executive or venture partner

In this episode of the Pulse Podcast, we interview Sid Viswanathan, Co-Founder and President of Truepill. Starting with its pharmacy-driven APIs and since moving into telehealth and at-home lab diagnostics, Truepill has been building healthcare infrastructure for the modern (and future) world. This infrastructure is already working behind the scenes to power several consumer-focused healthcare companies, such as Hims & Hers, Nurx, and Levels. The company has attracted investments from Y Combinator, Oak HC/FT, Optum Ventures, and others.

In this episode, we interview Andrew Dudum, the Founder & CEO of Hims & Hers. Hims & Hers is a digital health company focused on destigmatizing health and wellness conditions while making it easier for everyone to access quality care. Since launching in November 2017, Hims & Hers has raised approximately $260MM in funding from investors including Oaktree Capital, Maverick, IVP, among others, and is poised to IPO via SPAC this year. Hims & Hers is one of the fastest growing direct-to-consumer healthcare brands to date. Key topics we discussed: How Hims & Hers disrupted the ~$4 trillion healthcare industry by creating a telehealth offering that brings quality, access, and affordability to more Americans while building a brand consumers love How to improve the American healthcare system, beginning with getting primary care right and providing a quality healthcare safety net to all Americans Reflections on the personal and economic benefits of investing in personal health and pursuing work you truly enjoy

In this episode, Sandy interviews Nate Maslak, Co-Founder and CEO of Ribbon Health. Ribbon is breaking the long-standing barrier of complex and challenging provider data by identifying and delivering the most accurate, comprehensive data on providers, facilities, insurance plans, and cost and quality measures through a seamless API layer. Ribbon is trusted by innovative health care companies such as Oak Street Health, Ro, Alice Financial, Lively HSA, and Well (Well Dot, Inc.). Headquartered in NYC, Ribbon is backed by leading investors like a16z, Y Combinator, BoxGroup, and several leading entrepreneurs.

In this episode of The Pulse Podcast, Vivien interviews Casey Means, Chief Medical Officer and Co-Founder of Levels Health. Levels is a metabolic health company that empowers individuals to radically optimize their health and wellbeing by providing real-time continuous glucose biofeedback coupled with machine learning driven insights to inform personalized diet and lifestyle choices. We discuss the founding journey of Levels, the science of metabolic health, and advice for first-time healthcare entrepreneurs. Levels recently raised $12M of seed funding from Andreessen Horowitz and angel investors including Marc Randolph (co-founder and first CEO of Netflix), Dick Costolo (former CEO of Twitter), Michael Arrington (founder of TechCrunch) and Matt Dellavedova (NBA player on Cleveland Cavaliers).

In this episode of The Pulse Podcast, Vivien interviews Stephanie Strong, CEO and Founder of Boulder Care. Stephanie has spent her career focused on innovation in healthcare, working to move the industry forward through venture capital investing, entrepreneurship, World Bank-funded research in India, and systems innovation at Duke University Medical Center. In 2017, Stephanie founded Boulder Care, a digital clinic offering long-term care for substance use grounded in kindness, respect and unconditional support. Boulder is backed by great investors such as First Round, Greycroft and angels such as Audrey Ostrovsky, who is the former CMO of US Medicaid. We discuss Stephanie's amazing entrepreneurial journey, Boulder's evidence-based model of care, access deregulations during COVID, go to market and partnerships with your first pilot, and tactical advice for first time healthcare entrepreneurs.

In this episode of The Pulse Podcast, Sandy interviews Paul Martino, Co-Founder & Chief Strategy Officer of VillageMD. Founded in 2013 with backers including Oak HC/FT and Kinnevik, VillageMD is a leading provider of healthcare for organizations moving toward a primary care-led, high-value clinical model. VillageMD works with physician groups, independent practice associations, and health systems to improve quality, deliver a first-rate patient experience, and lower costs in the communities they serve. It has grown to include more than 2,500 physicians across eight markets and is responsible for approximately 500,000 lives and $3 billion in total medical spend in value-based contracts. In July of this year, VillageMD made a big splash by announcing an expanded partnership with Walgreens Boots Alliance, who will invest $1 billion in its primary care partner VillageMD to open 500 to 700 physician-staffed clinics inside its drugstores in more than 30 U.S. markets within the next five years.

In this episode of The Pulse Podcast, Vivien interviews Julie Yoo, General Partner at Andreessen Horowitz (a16z), a leading venture capital firm in Silicon Valley that backs bold entrepreneurs building the future through technology. Julie Yoo leads investments in healthcare technology, with a focus on companies that are modernizing how we access, pay for, and experience the healthcare system.  We cover Julie’s journey from operator to investor, a16z bio’s investment philosophy and how they support their founders, and once in a century trends we are seeing in healthcare’s great unlock.

In this episode of The Pulse Podcast, Sandy interviews Kate Ryder, Founder & CEO at Maven Clinic, the largest telemedicine provider for family health and women, who control 80% of healthcare decisions in a $3.5 trillion healthcare industry. Besides the market dollar potential, Maven Clinic addresses critical gaps in maternity care. The U.S. maternal mortality rate has steadily increased since 2000, while declining in other countries, and its national C-section rate is 20% higher than what the WHO recommends. Today, more than a third of women and nearly half of women with children take a break from their careers, primarily because of the pull of family. Maven Clinic connects workers with OB-GYNs, nutritionists, lactation consultants, and other specialists via video chat or messaging to empower women to advocate for themselves in a broken system. With Maven Clinic, employers and health plans can see improved maternal outcomes, lower costs, and attract and retain more parents in the workforce. Maven Clinic has raised $90M as of its Series C closed February 2020, and its backers include Spring Mountain Capital, Sequoia Capital, Oak HC/FT, Female Founders Fund, Anne Wojcicki, Reese Witherspoon, Natalie Portman and Mindy Kaling. Maven Clinic was named among the world’s top 50 most innovative companies in 2020 by Fast Company, and has more than tripled the number of companies it serves in 2019 alone.

While they remain an incredibly stigmatized group of patients, those suffering from substance use disorders (SUDs) are finally finding a new breed of treatment centers focused on whole-person care. Eleanor Health is at the forefront of this movement, working to scale an innovative, tech-enabled, and peer-supported platform that supports patients through their recovery by aligning incentives in a value-based payment model. Corbin Petro (WG ’09) is co-founder and CEO of Eleanor. In this episode, we explore Corbin’s path to Eleanor, the unique market forces at play in the substance use disorder market, and Corbin’s perspectives on leading effectively in the COVID-19 era.