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Venture capital companies partner with healthcare organizations to improve digital health

Venture capital (VC) companies are increasingly playing a role in all aspects of healthcare. This is a growing trend globally as healthcare organizations are eager for the resources, expertise and capital that these VC firms can offer.

Earlier this month, the University of California at Davis Health System announced a partnership with one of the nation’s largest VC firms, General Catalyst, with the goal of transforming the organization’s digital health strategy and offerings.

The press release by the university explained: “As part of this partnership, UC Davis Health will use the General Catalyst ecosystem of companies to drive artificial intelligence (AI) and digital health innovations in various areas. This will include healthcare delivery, research, education and public service, as well as the medical center’s ongoing transformational efforts in operations, care and outcomes.”

Furthermore, Chief Information and Digital Officer Ashish Atreja said that “Digital innovations in medicine have the potential to not only improve patient outcomes but be a game changer for the entire healthcare sector… This collaboration will create an environment that fosters open innovation in digital health, which we hope will lead to new solutions to improve the lives of our patients, increase the efficiency of healthcare systems and have a positive impact on the health of our communities.”

UC Davis Health is a regional powerhouse, with a service area of ​​more than 30 counties and nearly 6+ million residents. While it already has strong offerings in the virtual health and digital health spaces, this partnership will elevate it even further. General Catalyst is an equally well-known figure and boasts partnerships with some of the biggest organizations in the world, ranging from AirBnB, Warby Parker and Canva, to Stripe and Snap. Without a doubt, this is a monumental event.

Similarly, famed VC firm Andreessen Horowitz (a16z) and New York-based Bassett Healthcare Network announced a partnership to leverage digital health capabilities to solve applicable healthcare problems. According to the press release, “the collaboration aims to leverage digital healthcare technologies from a16z’s portfolio companies to address the disparities and systemic challenges of delivering high-quality healthcare to rural patient populations through Bassett Healthcare Network. The two organizations share a common vision to broadly reimagine how digital health solutions and processes at scale can transform these valued, yet vastly underpopulated healthcare delivery networks.

CEO and President of Bassett, Dr. Tommy Ibrahim, said: “Health systems serving rural communities face challenges different from those in more densely populated areas, including less access to innovative tools and services that can help us better serve our patients and support our practitioners . and care teams … Partnering with a16z will greatly improve our access to the most innovative digital health technologies and, more generally, allow us to truly understand together how rural health systems can implement effective, scalable technology-enabled solutions to improve patient health improve.”

A16Z is once again one of the world’s most prominent VC firms, backing notable organizations like Facebook, Lyft, Robinhood, Slack, and Coinbase. At the same time, the Bassett Healthcare Network comprises nearly 400 physicians in 8 counties, supporting primary and advanced care for thousands of people in the area. Indeed, this partnership will transform the healthcare network’s vision and strategy.

These two examples are just recent encounters of such important partnerships. Numerous organizations around the country and world are pursuing similar VC relationships with ideally one central goal in mind: to improve their services, optimize their care delivery methods, and ultimately best serve their patients and communities.

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