Medicaid Wants Innovation Too
The discussion was hosted by Dr. Andrey Ostrovsky and involved a group of experts in the Medicaid industry, including health executives, investors, and healthcare providers. The conversation revolved around the need for more focus towards innovations in Medicaid, the challenges faced in making investments in the Medicaid space, dealing with political influences, and driving advancements that benefit Medicaid beneficiaries.
Despite the huge market opportunity, there's a considerable underinvestment in Medicaid, primarily due to the complexity of the system, lower payment reimbursements, political landscapes, and perhaps systemic racism. Investments should focus on long-term gains, being aware of the specific levers that make the business investable, avoiding temporary gaps in policy, and working towards becoming trustworthy while meeting the specific needs of the patients.
The speakers also pointed out the need to shift from reactive healthcare to proactive healthcare, with the goal of keeping people healthy, which ultimately leads to better revenue. They stressed the importance of entrepreneurs partnering with long-term, experienced investors who understand healthcare's inherent complexity. The discussion concluded with highlighting the need for Medicaid innovations to focus on being ""honest brokers of truth"" amidst rampant misinformation, particularly in the public health space.