Mary Beth Snodgrass

It was wonderful to be in conversation with Madison Mills of Yahoo Finance at their annual Invest conference earlier this week. We covered everything from the venture outlook for 2025, impact of elections on women's health investing and innovation, and more. Full clip and summary below 👇 https://lnkd.in/gS67sc2Y

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Some VC investors believe that brick and mortar - referring to a physical presence of some kind - should be avoided at all costs. Yet, the track record of clinic and hybrid care businesses in health care indicates otherwise. ==> One Medical (sold for $3.9 billion to Amazon), Oak Street (bought by CVS for $10.6 billion), Lifestance (IPO at $7.5 billion market cap), and PE-backed Premise Health (acquired by OMERS Private Equity for $1.1 billion) If a clinic is indicated as the optimal way to deliver care for that patient population, there are creative ways to build and operate them. Full article below with advice and strategies on how to build and operate hybrid clinics from my teammate Anarghya Vardhana from Maveron, Amir Dan Rubin from OneMedical Group, Steven Eidelman from Modern Animal and more!

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Still feeling energized from last week's roundtable on building successful relationships with hospitals. We invited 7 portfolio companies and health system leaders from Mayo Clinic, Cedars-Sinai and UCLA Health. The founders shared their questions ranging from the strategic to the nuts and bolts of closing partnerships. For example, how do you determine what measures of effectiveness help drive alignment? And how do you get all the stakeholders together to actually drive a decision. Answer: put them all in a room for half a day! “I think we're in a pivotal moment regarding how we assess AI. There are numerous risks currently dominating AI discussions, particularly those concerning bias and other associated risks. However, there's a notable absence of focus on evaluating the proactive value of AI. We need to consider what AI actually offers and what we want it to offer. It's not solely about determining whether it will cause harm; people are apprehensive about how this technology will be implemented. One perspective gaining traction involves ensuring the product's validation process is robust enough to prevent risks to various populations.” -Vladimir Manuel, Medical Director at UCLA Health From Vlad's comments above to perspectives others shared, we heard a sense of excitement for the promise of #AI and other new technologies. But we're also in a unique moment where the risks are not well understood. Still much to do here.

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Christina Farr authored the excellent article (with helpful contributions from Nathaniel Lacktman) on the potential impact of California's proposed law (California AB 3129) banning the MSO-Friendly PC business model for healthcare organizations. The description of the law as a "blunt instrument" is apt and the article is a useful read here: https://lnkd.in/gsDDqGNn The primary concern prompting regulators to pursue such drastic laws is that investor-funded healthcare businesses are driving healthcare costs up and reducing patient care quality. Blanket bans like the proposed law throw the baby out with the bathwater--a very concerning move given the size of California and the tech presence involved with healthcare in the state. I encourage investor-funded healthcare providers to evaluate meaningful strategies to combat this growing perception, sadly abetted by some notorious bad apples. In my work, we have helped organizations adopt the Value-Based Enterprise structure to both align the incentives of management and clinicians with #ValueBasedCare goals and build a governance structure suited to demonstrating progress in controlling costs and increasing medical care quality. There are a lot of great resources to reduce the time and capital investment needed to adopt this business model. We recently participated in a podcast with attorneys from Nelson Mullins Riley & Scarborough addressing just this topic. I will link to it in the comments if you are interested in learning more. #digitalhealth, #valuebasedenterprise, #healthcareinnovation

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✅Our healthcare report and market map are finally live✅ Over the past several months, I have shared with anyone who would listen that Michael Cardamone and I were in conversation with innovation executives across four of the top healthcare systems in the U.S. including Mayo Clinic Ventures, Hackensack Meridian Health, Cone Health Ventures, and University Hospitals Ventures to understand current strategies and priorities in order to hone in on our investment thesis. The goal was to arm healthtech founders with the inside perspective on the critical investment areas for US hospitals to help establish product-market fit and solve the industry's most pressing challenges. Links to download the report, check out the market map, and submit your company are all in the comments. Thank you to our contributing experts Shai Ran Sapir, Technology Development Manager at Mayo Clinic Ventures, Sandra Powell-Elliott, Chief Innovation and Commercialization Officer at Hackensack Meridian Health, David Heenan, Managing Director at Cone Health Ventures, and Matthew Zenker, Director of Deal Flow and Investments at University Hospitals Ventures. #healthcare #innovation #healthtech #earlystage #healthtechfounders #healthcarestartups

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The (Healthcare) Ground Beneath Our Feet… This year it is likely that over $10 billion will be invested in the digital health sector – a robust amount, no doubt, but inconsequential when compared to the amount of capital tied up in healthcare real estate assets, which is estimated to be $1.2 trillion by Jones Lang Lasalle. Of that amount, approximately $790 billion is in the hospital sector while the remaining $490 billion is in medical office assets. It is estimated that there are 48.6k facilities with 3.4 billion square feet of healthcare real estate, 42% of which are owned by REITs and another 33% held by other private investment vehicles. Much of the digital health investment is meant to make the physical healthcare infrastructure more productive: greater operating efficiencies, greater patient throughput, more relevant personalized care models with better outcomes. As the healthcare system is being pushed to be more distributed to lower cost sites of care, accelerated now by the rapid proliferation of automation and AI capabilities, the potential impact on healthcare infrastructure assets will be profound. Thoughts on what that might look like... https://lnkd.in/eTfAdUbS #digitalhealth Flare Capital Partners

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🌟Innovative VC Firm Overcomes Exits Drought with Secondary Sales🌟 ⛵Navigating a challenging landscape where exits are scarce, Santa Barbara Venture Partners (SBVP) has pioneered a novel approach to sustain its growth and attract investors for its second fund: secondary sales. Instead of waiting for traditional exits like IPOs or acquisitions, SBVP opted to sell shares of its portfolio companies, demonstrating its ability to generate returns for investors and stand out in a competitive market. 🎤According to Dan Engel, founder and managing partner of SBVP, these secondary transactions have been a game-changer, sparking investor interest and bolstering the firm's credibility. By leveraging its recent successes, including a lucrative stake in sports-betting company DraftKings Inc.' acquisition of digital lottery app Jackpocket, SBVP seized the opportunity to return profits to its limited partners (LPs) and pave the way for its second fund. 💡Engel highlighted the challenges faced by young VC firms in raising subsequent funds, particularly amid a downturn in exit activity and heightened investor scrutiny. With traditional exit routes becoming increasingly elusive, the pressure is on for firms to demonstrate tangible returns and establish a track record of success. ✨"For us, secondary sales have been a game-changer. They've helped us return profits to our LPs and attract investors for our second fund," said Dan Engel. 💰For SBVP, the decision to pursue secondary sales was driven by the need to provide liquidity to LPs and validate its investment thesis in the eyes of prospective investors. By strategically offloading portions of its holdings in high-performing portfolio companies like Bark Technologies and Rad AI, SBVP not only generated substantial returns but also bolstered investor confidence in its ability to deliver results. ⚠Despite the complexities and potential stigma associated with early share sales, Engel emphasized the importance of prioritizing investor returns and seizing opportunities to unlock value for stakeholders. With a focus on profitability and transparency, SBVP remains committed to its mission of delivering sustainable growth and maximizing returns for its LPs. 🔍 "Returning profits to our investors is our top priority. By strategically selling shares, we're proving our commitment to delivering results and driving value for our stakeholders," added Engel. As SBVP continues to explore secondary transactions and expand its investor base, the firm stands as a testament to innovation and resilience in the face of market challenges. 🚀 ✅ Looking to raise capital for your #fund and increase the international pool of your LP #investors?   🤝 Need warm #LP introductions?   📝 Selling #secondaries to increase liquidity?   🧐 Looking for co-investments?   ▶ G+QUANT's link for inquiries and fund decks: https://lnkd.in/gjC_EuTE #VCInnovation #SecondarySalesSuccess #InvestorReturns #ValueCreation 

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Healthcare is highly suited for AI automation, with many opportunities to improve accessibility, affordability, and outcomes. AI can drive efficiencies across various functions, though it will inevitably reduce the need for some human roles. #higherorder #ai #automation #healthcare #healthtech

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I've seen countless startups stumble on regulatory strategy - it's painful, expensive, and often avoidable. The seminar shared by David Pudwill and Geetha Rao hosted by UCSF Innovation Ventures, absolutely nailed what matters most. Here are my key takeaways that every founder should know: 1. Understand your scope - this is where it all starts or stops You've got to nail this foundation: --Map out ALL potential clinical uses (yes, all of them) --Find your "regulatory siblings" (similar approved devices) --Get crystal clear on your impact level: 1)Wellness management (easiest route) 2)Screening/monitoring (middle ground) 3)Diagnostics/therapy (time to bring your A-game) 2. Pick your lane: regulatory pathways from "Easy" to "Buckle Up" Here's what you're looking at: --510(k) Exempt: The startup favorite (for good reason!) --510(k): Tried and true path --De Novo: The road less traveled (but sometimes necessary) --PMA: The regulatory marathon (pack your endurance) 3. Strategic roadmap: This part separates winners from the pack Smart execution is everything: --Start minimal, but make it smart --Grow strategically (think chess, not checkers) --Nail the execution sequence: Define → Design → Test → Produce → Sell Pro tips from the investor seat - know your audience and speak their language: --Investors need that solid IP story --Clinicians want real-world outcomes --Regulators love familiar territory (use it) --Claims strategy (this is crucial) Three rules to live by: --Start small (seriously, resist the temptation) --Expand methodically (no shortcuts) --Document everything (future you will thank you) Why this matters to investors - here's the bottom line: "Your regulatory strategy IS your market strategy. Plain and simple - you'll only get to sell what you get approved for. Plan accordingly." (Full credit goes to David and Geetha for sharing their invaluable insights)

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🚀Exciting News! AGS LABS / ALES GREY™ has been invited to pitch at FoundersBoost LA’s spring cohort and the Alliance for Southern California Innovation SoCal Venture Pipeline program at Google! If you’re an investor, please join us on June 4th for an exclusive joint Demo Day by FoundersBoost LA & the Alliance for SoCal Innovation! 🌟 The Alliance and FoundersBoost are joining forces to showcase some of the top young companies in LA! In addition to hearing the amazing pitches, you’ll be able to network with other investors, incredible mentors, supporting partners, program leaders, and the startup founders. Refreshments will be served. 🍹 📌 IMPORTANT NOTE: This is a private invite event due to capacity constraints and to maintain a value-add atmosphere. Sign Up Link Below. https://lu.ma/lademoday Don’t miss this opportunity to discover and support the next big thing in innovation! 🌐 #FoundersBoost #DemoDay #Innovation #Startups #Investors #Networking #PitchEvent #AGSLABS #ALESGREY #SoCalInnovation #GoogleEvents

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Big congrats to our outstanding rising clinical research stars and global health practitioners at IGHS, UCSF! After months of dedicated hard work, we've all completed our qualifying oral exams. I believe these projects hold the potential to lead to the development of new healthcare technologies, services, or interventions that address pressing global health issues and aid underserved populations. The breadth of our research is evident in the diverse range of global health issues we explored, including but not limited to: 1. Women's empowerment and reintegration programs. 2. Telehealth systems for Native American children with complex medical needs. 3. Performance of COVID-19 exposure notification systems. 4. Mental health interventions during natural disasters in low- and middle-income countries. 5. Cancer screening and treatment access in underserved communities. 6. HIV care and support services. 7. Predictors of disease severity in pediatric febrile illnesses. 8. Cost-effectiveness analyses of various interventions (malaria detection, CAR T-cell therapy, cervical cancer screening). 9. Social media analysis of tobacco product marketing strategies. 10. Pediatric emergency triage tools for resource-limited settings. 11. The impact of food insecurity on mental health. 12. Acculturation, diet quality, and their connection to childhood obesity. 13. Nursing perspectives on COVID-19 pandemic interventions. This wide range of topics underscores the multifaceted nature of global health challenges and the critical need for innovative, interdisciplinary solutions. Furthermore, cost-effectiveness analyses, cost-of-illness studies, and implementation studies can inform strategies for sustainable and scalable solutions.

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Healthcare 1.0 - what's keeping it afloat? Think really hard about this for a moment. On operating revenues of $100,847 Kaiser Permanente had: Operating costs of $100,518 vs $96,678 in 2023 Operating margin of .3% or $329M vs ($1,270) in 2023 Other income was $3,793 vs ($4,468) in 2023 Let's pause. Costs are up by almost 4 billion. Without the other income KP is losing money every single day. Membership declined by 51K but that's NOT the story - the story is ZERO growth. Are you getting it yet? Sick people drive revenues. Really sick people drive more costs because they cannot bend the cost curve ahead of time. Premiums and Copay revenue always lags a year. Digital Health is an operating cost to Healthcare 1.0 because their business model is sickness - revenue. And that will NEVER change. Healthcare 1.0 lives on the brink between life and death and the willingness of debt holders who collect their fees. Healthcare 1.0 is on life support. Why invest in something that is on life support. It cannot be fixed. Lonnie Hirsch, Ellen Brown, Adam Carewe MD https://lnkd.in/eppxSNUb

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Building in healthcare often feels like navigating uncharted territory, but the journey becomes significantly more rewarding when you're not alone. Over the years, collaborating with #founders, #operators, and #enablers has not only fuelled my passion but also strengthened my belief in the power of community. At PeerCapital, we're all about fostering deep sectoral connections that go beyond just networking. #HealthCraze has become one of our flagship initiatives, evolving into a rolling community event that has sparked vibrant conversations and collaborations across Bangalore and Delhi. Now, we're excited to bring this energy to #Hyderabad on the 30th of August, with our friends at RED.Health This time, we’re inviting you to dive into the minds of some of the most innovative thinkers in healthcare — Prabhdeep Singh, Mahadevan (Mahad) Narayanamoni and Prof.Sarang Deo. Together, we aim to share our collective experiences and insights that will inspire you to build stronger, more impactful solutions in healthcare. Whether you're a builder, thinker, enabler, or investor in the healthcare space, HealthCraze is where you need to be. This isn’t just an event, it’s a movement. To register, apply using the link in the first comment. Given the intimate and interactive nature of these gatherings, seats are limited, so make sure to secure yours. Let's create the future of healthcare together. #healthcare #innovation #india

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Join us tomorrow for a panel discussion on the complex relationship many FirstGens have to money and how that affects founders, investors, operators and others. See you tomorrow! https://lu.ma/9rixyzgs

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"Digital health is no longer the future; it is the present, reshaping our healthcare landscape in real-time." Excited to be part of the UCSF Digital Health Hub Foundation's Quarterfinalist Party! As a past board member, I'm honored to celebrate the outstanding quarterfinalists. As we reflect on the state of digital health in 2024, it's evident that the COVID-19 pandemic has fundamentally transformed healthcare delivery. The rapid adoption of telemedicine during the crisis has become a permanent fixture, with over 60% of physicians continuing to utilize this technology. The sprint towards smarter healthcare, catalyzed by necessity, has shattered preconceptions about digital-first health experiences. Virtual care is no longer a stopgap but an integral part of a seamless, anytime, anywhere health ecosystem. 🌍 We're witnessing the rise of B2B2C models in remote consultations, with companies like Teladoc Health and Amwell partnering with insurance providers to integrate their services into health plans. Public sector collaborations, like eConsult Health 's partnership with the NHS in the #UK, underscore the potential for remote consultations to enhance efficiency and accessibility at a national level. The digital health landscape is evolving rapidly, with advancements in remote consultations, mental health support, at-home diagnostics, and patient monitoring. AI and generative AI transform care delivery, making it more efficient, personalized, and patient-centric. 🤖 Yet, challenges remain. While venture capital funding for digital health has stabilized after the pandemic boom, it remains below its 2021 peak. Sectors like digital therapeutics face reimbursement hurdles, and we've seen major players like Walmart and Optum close telehealth businesses. Looking ahead, we anticipate further consolidation in digital health, driven by acquisitions to create broader ecosystems encompass telemedicine, mental health, and other specialized services. As healthcare leaders, we must leverage these digital advancements to improve access, enhance patient outcomes, and drive efficiency in our healthcare systems. The future of healthcare is digital, and the time to embrace this transformation is now. Congratulations to all the finalists! 🎉 Looking forward to the grand finale at #HLTH2024 in #LasVegas! 🙌 By the way, the pink drink that we were holding was delicious—and nonalcoholic! The Digital Health Hub Foundation - Digital Health Awards #HealthcareInnovation #DigitalHealth #UCSFHealthHub #Networking #HealthTech #Entrepreneurship #LasVegasFinale Walter Greenleaf, PhD Daniel Kraft, MD Unity Stoakes StartUp Health University of California, San Francisco UCSF Innovation Ventures American Association for Precision Medicine (AAPM) WISE World Investors & Entrepreneurs Society #AAPMhealth #aapm_health

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Severe mental illness remains one of the most underserved areas in mental health, possibly because it is difficult to address with the type of virtual, easy-to-scale models that VCs love to back. We're so excited that Sonia Priscilla García and Stas Sokolin at Amae Health have been able to break the mold, bringing better in-person solutions for patients and families dealing with SMI, and attracting strong venture partners to do so cc: Lisa Jacobs Blau, Alison Ryu, Claire Akkan Quiet Capital, Healthier Capital, Jan Ellison Baszucki, Karin Kissane, Mike Volpi

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Today’s healthcare policymakers are focused on their favorite boogeymen: physician compensation, biopharma, and new medical technologies. The real villains are ‘benefit managers’ and administrators’ who lurk in the shadows extracting 25 cents of every healthcare dollar. The reality is, in fact, in plain view if you look: administrators have grown 3200% while physicians have grown 200% over the last two decades; physician compensation is down, net of inflation. Admin comp is up, way up. PBM (pharmacy ‘benefit’ ‘management’) revenue has outstripped Pharma revenue growth in the last 20 years. Pharma extends life and improves quality of life, and extends working lives of taxpayers. PBMs - who knows… People grasp onto things they understand like doctors and drug companies. ‘Administrators’, ACOs, VBC, VBC, PBMs, spread pricing are more challenging to grasp and are allowed to obsfucate people about what they do from the shadows. America’s healthcare landscape is burdened by ‘administrators’ and ‘managers’ who extract rents from an otherwise highly innovative system. https://lnkd.in/gK3mCme4 https://lnkd.in/gPC9vKB9 DocVader puts it aptly: ‘thoughts and prayers’ https://lnkd.in/gUfnSXGV Technology is one answer. Physician and nurse leaders are another. If your company is about literally decimating administrative costs in the back office or front office of healthcare, I applaud you. As Americans we need this. Return care to the people and shrink administration and management bloat across the system. Medicare deserves this and so do the commercially ‘insured’.

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Practice your #voting skills and help us highlight #regenerativefinance at SXSW!

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One conversation we should be having more, especially in healthcare: is this an AI problem or a policy problem? A big challenge in American healthcare stems from the reality that our healthcare strategy changes with every administration. Throwing AI at problems that are well-addressed by policy innovation (e.g., AI for payer-provider RCM war) feels like a gross misallocation of resources. Solution sets are rarely zero sum – in truth, most problems will require policy, tech, and human interventions, but it's worth asking ourselves whether AI is the best solve when we have a multitude of options.

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