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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Appearances
And I think what's really exciting now, Scott, in the way we're building technology is it used to be back in 2015 or 14 when we were selling these things. when I was selling SaaS applications, I would come to you, Scott, and say, I have a throughput widget. And you as the chief medical officer would go back and you would evaluate that against Epic.
Somebody on your IT team will say, well, I can build this thing myself. And then me as the entrepreneur, you compare contrast on build by partner. I think what's fascinating today, Scott, is we're just selling intelligence. And so it's really a race towards use cases. It's the race towards workflow because these agents, if you will, can take on many different things.
And so I think that the way we're thinking about the point solutions versus the platform will also change, in my opinion. But but it's a really important question. But I think it really depends on the investor versus the entrepreneur, and it depends on temporary versus the long term. So those are those are just some things to think about.
Yeah, I mean, for us, I mean, Scott, this is probably, I've now been part of... three sort of platform shifts. One is to mobile. When the iPhone came out in 07, two is the cloud, and three is AI. This is by far the most exciting time to be building, at least in the 15 years that I've been at the intersection of healthcare and technology.
The thing that I sort of think about a lot about, Scott, and where we we get excited midstream in terms of how do you think applying AI is threefold. First is I think that giving people superpowers in not just sort of clinical applications, not just sort of operational use cases, but financial use cases in the back office.
I think it's always been true that people are willing to experiment more with the back office. But the health system business has never been more complicated. The financial implications in the pharmacy with 340B or with supply chain where you've got a 800 page contract and you're negotiating with Fortune 50 companies on complex rebates and pricing tiers.
Or in managed care, when every day, you know, you've got payers who are thinking through different levers of, you know, let's say increasing of denials rates with all sorts of interesting new techniques. All of that, I think, is well poised for AI. And so for us, when we think about what can AI do, I think about a couple of things. First is
It's really important to know the ground truth in taking a decision. So the ground truth, Scott, might be in a PDF. It might be in a contract before you'd have an army of analysts or an army of consultants come and read that thing for you. You know,
The ground truth might be in some system of record, but by the way, there's five different systems of record and, you know, the health systems have consolidated. So where does that sit? Or the ground truth might be in a new update, right? Something might have changed from a payer or from CMS or from J&J.
And so it's almost impossible for a human being to understand the ground truth when the ground is moving, quote unquote, right, on all three areas. Second is like obviously the ability to quickly analytically think through these things and then summarize in simple English what is actually happening so that I can take a new decision.
And the last thing is actually the most important thing, Scott, is
at least our customer base which is health systems are large institutions and there's a lot happening and sometimes the the left hand doesn't know what the right hand is doing right and and not because you know they're not really motivated and determined it's just that there's a lot of people and there's a lot of change and so how do you use intelligence to connect the right next step and you can nudge the right person to take the right item you know for me it's like
You know, Scott, I don't know if you remember, but like you'd print these like map quest and like triptych, you'd have triptych maps, you know, and like mom and dad would be arguing. It's like, hey, I've always taken this left here and here's the exit. And at some point we just decided, just listen to Google Maps, take left here, take right here. It's not that, you know, you're not any smarter.
In fact, you have more cognitive capacity to do your job, to focus on the road. That is a transition taking place. And there's a long tail of things in the health system that I believe we can give superpowers for so that people can take better decisions, we can reduce the cost of care, et cetera. So when I think about use cases, Scott, I think about
supply chain where there's immense implications on rebates and pricing tiers and and when i think about pharmacy and there's immense implications on 340b and i when i think about managed care there's immense implications on how do you work with pairs every day so there's an endless amount of use cases for for midstream but i can also talk about you know broader things we're seeing in the market not just about midstream it's let me ask you this question this question van kid in terms of both midstream and the market
Yeah, I think this is like, boy, Scott, I think you've hit something that is, for me, such an exciting thing. I think about like the human genome project where we had to sequence all the genes to understand. We talk about CRISPR today and gene therapies and all that. But somebody had to sequence these genes through it. There's an equivalent to the business genome, which is.
I think machines can now go through, to your point, not just structured data that's neatly parsed through from an EMR or an ERP, but these unstructured data. Sometimes people have PDFs that literally sometimes people print contracts on their desks, Scott. So how are you supposed to refer to Amendment 27 when it's sitting on someone's desk? Or maybe it's in a CLM system.
And so machines now can actually go through and sequence these unstructured data sets. Maybe it's on the internet, Scott. Maybe it's an update that the government just had. And to able to read that, provide context, and then auto-generate a nudge so that somebody can take that decision point, you're avoiding like tens of meetings. Like I sometimes joke about,
debt by dashboard and debt by meetings. It's because, and by the way, not to mention the millions of dollars people spend on consulting every year, all of that, to your point, Scott, the unstructured data set that now sits within these health systems. I sometimes believe that 70, 80% of the knowledge of these enterprises is actually sitting in unstructured data and not in structured data.
And that I think is a total game changer. So it's a great, great point.
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