Taking Clinical Innovation in Health Care to the Next Level
While the health care industry can be challenging, with complex regulations and long-established bureaucracies, an innovative company called Redesign Health is working to transform it from within. Redesign Health is one of a number of organizations that received fresh funding last fall to boost health care startups from CVS Health Ventures, a unit of CVS Health which focuses on data-driven medicine and digital health investments. And in just the last five years, Redesign’s New York-based team of about 300 has helped launch more than 50 tech-enabled health care businesses – providing not only talent and capital, but the scaffolding and support to launch them.
Neil Patel, head of New Ventures at Redesign Health, explains how they’ve already improved patient care and touched the lives of more than 10 million people across health verticals that include treating cancer, tele-audiology, senior care, COVID-19 testing, metabolic health, as well as mental health. As he notes, “There's no shortage of problems to solve in health care, the question is the when and the how, as opposed to if you should do it.” Patel is joined by Andrea Messina, executive director and partner at CVS Health Ventures, who characterizes the investment in Redesign Health as an indirect opportunity to sustain and build new companies. "They take a lot of the most, as we see it, difficult elements of starting a new company out of the equation for prospective founders," Messina says.