Venkat Mocherla
speaker
203 appearances
2 recordings
1 series
first heard Jan 2025
last heard Feb 2025
Venkat Mocherla’s voice in public audio — every appearance, attributed to the second.
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I do think that the back office tends to get more involved. um traction early on for companies because frankly it's just less risky that you're willing to and it's sort of a no-brainer nobody wants to do more add more administrative cost to the system. I think if anything, they want to make it more efficient and sort of reduce the cost ultimately to the patient.
And so I think you're seeing, again, a resurgence in areas like revenue cycle. You're seeing call center optimization happening. You're seeing companies like Midstream think about
the financial um decisioning and how we can sort of uh you know help save frankly dollars to the health system and ultimately make the system a lot lower in cost now i do think like you know i mentioned in the clinical area and clinical operations um whether it's aspects like um you know throughput and length of stay management whether it's
You know, your scribing technology, there's just been a vast array of applications, but there is a different pathway. And this is now we're talking about the hospital area, but obviously there's payers, there's life sciences are applying AI for drug discovery, likes of In-Citro, etc., There's, Matt, the intersection of technologies like AI with CRISPR.
And so there's a bunch of applications even outside of the hospital ecosystem that I'm most familiar with that is equally and incredibly exciting.
Yeah, I think, you know, the hardest kind of knock on healthcare is, you know, when you think about how risk averse the market is, and we think about And for the right reasons, right, for obvious reasons, the sale cycles tend to be really long, right? The average sale cycle for a health system is probably around 18 to 24 months.
What's happened now, Scott, is I think there's a bunch of entrepreneurs not only going after health systems because I think people are curious and genuinely they want to, you know, solve some of these problems, but there's also a tremendous amount of interest now in the SMB and mid-market. So how do you help your three-practice physician, you know, three-doc practice, excuse me,
um you know because they don't have the kind of frankly thought structure to dictate having a receptionist and having a very advanced revenue cycle suite etc but now you can actually use ai to help you you know create a you know sort of like you know this is this is the era if you know some have said that they are abundant which i tend to agree with that which is how do you give these magical superpowers and and um people behind the scenes
to go operate, whether your cost structure before, you had to be a giant health system to go do that. So that's the one area which is like just new markets opening up, which is quite an interesting and exciting trend.
The second piece is, look, for obvious reasons, there's an entire disconnect that happens between all these stakeholders, between the patient and the provider, between the provider and the payer, between the payer and life sciences. And I think what we're seeing now are people who are
not just competing with some of these businesses as full-stack providers, et cetera, but actually connecting with them, right? So you're seeing how do you, for example, use data to connect the dots between a really expensive drug that maybe cost a million or $2 million to administer that, to authorize it, et cetera. You're helping the med device industry with hospitals.
These contracts tend to be really complicated. And how do you sort of partner with that? Same thing if you have risk attached to it. So I think that's another very interesting trend where people are finally dissolving some of these silos. And the third piece, I think, that is very interesting to me is, is on, um, the, um, consumer piece itself. Like, so how do you sort of accelerate this?
And the other part of this that is so exciting to me is obviously we're talking about this from a us context, but. I think global context is also quite interesting where, you know, markets like India and others where you might have, you know, 70% of self-pay.
So you might have somebody, you know, with a very different regulatory regime, but willing to experiment, you know, using WhatsApp as an interface for an AI application or in markets like the UK and Canada, which have really tough times with access coming up with, you know, uh, new technologies there.
And so I do think this is like an era where if you're an entrepreneur, you should not just be thinking about the U S you can actually think about global markets, which is just a, it's just a fascinating time. So those are some of the, the, some of the trends that we're seeing.
And I think the final point I'll make on this is that I think forever, we were restricted by the percentage of spend on the it budget is a technology spend. Okay. So I've got a solution for you on, um,
you know, whatever, XYZ topic, and you're going to compare that against, well, maybe I have, you know, the famous thing is it's on Epic's roadmap, or maybe it's, you know, I have a tool that I already have already partnered with a giant company like Microsoft, and I don't want to pay for extra things. But nowadays, Scott, what's so interesting and exciting is,
is that you're truly competing with like, you know, gosh, I don't have headcount for this, but instead I could use an AI application for that. So I think what's really interesting is thinking about, you know, 70% of the health system cost, for example, is on labor. And how do you think about augmenting my staff?
How do you think about automating areas where I don't even have headcount for because I'm doing a, you know, I'm in a financially... Gruden era, and I don't have the ability to go hire a thousand more people. That is very, very new. Instead of hiring a million more people in XYZ categories, I can actually augment my current staff with software.
And I think to me, fundamentally, I think what's exciting is Not just like obviously the financial implications and budgets and all that, but honestly, like we can flip what I look at as a very burnt out, both administrative and clinical workforce to being a much more energized folks as we're getting older, by the way, and as health care costs are rocketing, skyrocketing.
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