Breaking Health Podcast host Steve Krupa connected with Bill Geary, general partner of Flare Capital Partners and co-chair of the upcoming Digital Healthcare Innovation Summit, to discuss highlights of the November 2 event being held at the Mandarin Oriental in Boston.
“We think it is just a spectacular one-day focused networking event of not only some of the best investors, but we think some of the best entrepreneurs and founders as well as other health care companies in the ecosystem,” Geary said. “ Many of our fund investors will be there; a handful of companies we’ve invested in will be there as well. And we’ve built a great advisory board.”
In the podcast, Geary delves into the decision to focus attention on national healthcare and the Affordable Care Act through interviews: David Blumenthal, MD, president of the Commonwealth Fund, and Jonathan Gruber, Ford Professor of Economics at MIT’s Department of Economics.
“We’ll be a week away from the presidential election, so it’ll be great to start with where are we in terms of the promise of the Affordable Care Act and where is it going,” Geary said. “There’s a dramatic difference in where this may be going depending upon whether we end up with President Trump or President Hillary Clinton.”
The conversation then centered on the many “holes” in health care innovation that firms like Flare Capital Partners, Psilos and our advisory board are trying to fill.
One such area is Behavioral Health. Ann Lamont, managing partner at Oak HC/FT, will lead a discussion in the space.
“Behavioral Health is one of those areas, as we know, where the costs are extraordinarily high, care is given to just a small percentage of the people, so the opportunity is great,” Geary said. “And it’s a big problem in this country that needs to be addressed.”
Steve Kraus, general partner at Bessemer Venture Partners, will lead a panel addressing the “consumerization” of health care. “The consumerization of health care is well underway, not understood by many. And in our view, squarely puts the consumer in the driver’s seat relative to choice and financial responsibility. And of course that triggers everything from transparency all the way through to improved outcomes, with the consumer in charge. And so we’re big believers that the consumerization of health care is changing everything,” Geary stated.
The providers will also be heard. Founding DHIS chairman Brandon Hull, managing partner of Cardinal Health Partners, will lead a discussion on whether 2016 is a breakout year for the Physician ACO.
Geary himself will interview Gary Gottlieb, MD, the former CEO of Boston-based Partners Healthcare and current CEO of Partners in Health.
The innovative side of hospital groups will be examined, added Geary. “Don Trigg, president of Cerner Health Ventures, will lead a panel where he’ll be talking about the importance of innovation in health systems, and [they’ll get] very specific as to what those opportunities are.”
In addition, Charles Koontz, who is president and CEO of the influential GE Healthcare IT and serves as chief digital officer of GE Healthcare, will present a corporate perspective on the seismic changes in health care. “He’s a real thought leader and we’re just thrilled, really thrilled to have him,” Geary said.
Geary told Krupa the conference will “do a deep dive” on the opportunities in health care that exist for artificial intelligence and predictive analytics. “We think this is an area that offers a lot of promise,” he declared. The panel will be lead by Noah Lewis, managing director, healthcare from GE Ventures. Michael Weintraub, president and CEO of Optum Analytics, also will sit on the panel.
“We’ll close with an overview of the public markets and what’s going on in health care technology,” Geary said. George Hill, director of equity research from Deutsche Bank, will make the presentation.
Steve Krupa: Welcome to the Breaking Health Podcast. I’m here with Bill Geary, partner at Flare Capital Partners, a healthcare venture capital firm. Welcome to the Podcast, Bill.
Bill Geary: Great, thank you, Steve. Thanks for having me. Delighted to be here.
SK: Yeah, we’ve got you on part and parcel because of your role as co-chairman of the Digital Health Innovation Conference, and we want to get into some of the details about what that conference is going to cover as part of the discussion. But I want to start off figuring you out a little bit, if you don’t mind. As most people know, it’s not a simple path to becoming a VC or becoming a healthcare VC, for that matter. And I know you’ve been doing this a while. I’d love to go back a little bit and figure out how you got started in this business and what drew you in, if you will.
BG: Yeah, no, happy to do it. And I’ll start with kind of most current first. So we started a new firm just a couple of years ago of experienced health tech investors. And basically my partner, Michael Greeley and I started that. We very quickly recruited 2 other members of our investment team, two principals – I’ll talk about their background in a minute – as well as a CFO and partner, and raised at the time the largest dedicated independent health tech VC fund that the industry had seen. Previously, I had helped start a firm called North Bridge Venture Partners. That was about 20 years ago. I was the health tech partner at North Bridge since inception of the firm. Michael Greeley started a firm called Flybridge Capital, and he too was like a solo practitioner at the firm he started, doing health tech investing. So we had known each other not just because we were both Boston based, but we had known each other for many years. Our two firms had co-invested together over many years as well as, of course, we competed for things. And it seemed pretty natural when we were looking at what was happening in digital health and healthcare technology for us to – for the two of us to do something together. We had, again, known each other for a long time, though similarly about how to build a great venture capital firm, but also thought similarly about the market opportunity and that is that digital health and healthcare technology over the next decade is not only going to outperform, but is really going to dominate the opportunity in healthcare in order to reduce costs and improve outcomes. And in the end, that’s really our mission as a firm. We very deliberately sought out kind of a hand-assembled group, almost a mosaic of limited partners of investors in our fund that we thought was quite different and would be quite different, would be powerful and compelling for entrepreneurs and founders, but also would mean that we could bring our 20 year plus network in the healthcare tech market space to their – in our fund directly as investors, and we could open up that network to entrepreneurs and founders, really to their advantage. And so we’ve got a half a dozen provider hospital systems as investors in our fund, including Cleveland Clinic, Boston Children’s Hospital, Med Star, others. We’ve got a half a dozen payer systems: Humana, a few regional Blues plans, Tufts Health Plan in the Boston area. And then a number of other LPs ranging from GE and Medtronic and LabCorp and CVS, though to the family offices of CEO and founder of Under Armor. And again, we wanted to bring that network to bear. It’s one we’re proud of, have built in some cases over many years, and put that network to work for the entrepreneurs and founders we back. As well as we’re in a pretty interesting and privileged position to really know a lot about the future product and service plans that many of our institutional investors, and we’re quite deep with their management teams and see firsthand the innovation holes. We see firsthand what’s missing when they want to roll out broader product and service offerings. And so it gives us a lens on investment opportunities that we think is quite rich. And so our relationships with those organizations are really, again, we’re privileged to have them and our relationships are very close. And that’s the bulk of our capital, plus a few traditional endowment investors, and of course our own capital. And we started that firm, as I said, a couple of years ago.
SK: Congratulations. That’s no small feat, raising, putting together a new team and raising a fund. So great job.
BG: Thank you for saying that. We made our first 6 investments and we’re thrilled with those companies as well. A number of those will be at the Digital Healthcare Innovation Summit in Boston on November 2, which is a conference that we’re proud to be associated with. We think it is just a spectacular one-day focused networking event of not only some of the best investors, but we think some of the best entrepreneurs and founders as well as other healthcare companies in the ecosystem. So many of our fund investors will be there; a handful of the companies we’ve invested in will be there as well. And we’ve built a great advisory board for that Summit, which was can talk about as well.
SK: Cool. I want to go back, before we jump off the subject, you talked about some of the “holes” in the technology infrastructure, some of the players in healthcare. And I think there’s a perception that the hole itself is fairly substantial in terms of what payers and providers need in order to move themselves towards competing in the new direction of healthcare. Can you give me a sense of your viewpoint on that proposition?
BG: Yeah, sure, happy to. Starting at the highest level, certainly the consumerization of healthcare is well underway, not understood by many. And in our view, squarely puts the consumer in the driver’s seat relative to choice and financial responsibility. And of course that triggers everything from transparency all the way through to improved outcomes, with the consumer in charge. And so we’re big believers that the consumerization of healthcare is changing everything. It’s driving kind of secondly the retailization of healthcare, and we all see that first hand, perhaps even with our own families. And the convenience of having – with a nod to CVS, the convenience of having CVS Minute Clinics nearby, almost nearly on every corner is something that we all take for granted, and are looking for the retailization of healthcare to really do more. And all of that is part of the canvas that’s already been painted, certainly by the Affordable Care Act, but also just the sheer economics are driving things this way, where we all know the system is shifting from kind of yesterday’s traditional fee for service business, and of cost plus driven business to value based care. And that value based care has different payment models, has of course has different incentives, financial incentives that need to be aligned for the physician as well as the consumer, and really redefines what a payer is. And so all of that turmoil creates a great opportunity from our point of view for new entrants as well as great opportunity and concern for the existing kind of legacy providers, whether they’re payers or hospital systems that want to figure out and take on risk, or lab companies or consumer companies like in the case of Under Armor, where in 2015 they made over a billion dollars of acquisitions of consumer focused fitness and other apps because they’re not just selling smart clothing to high performing athletes. They’re really putting themselves, I think, in the consumer food chain of almost being able to be predictive relative to what’s happening with consumers. So all of that, from our point of view, consumerization, retailization, the shift away from fee for service to value based care, and then of course all the analytics necessary to drive and power that, predictive and otherwise, is really changing the landscape dramatically in healthcare. And all that’s being fueled by healthcare technology. And so those are the innovative companies that we’re seeking out and that our investors are looking to in order for those new companies to be vendors to them.
SK: Yeah. So you and I both have been doing this for a while now, and I guess we’ve seen these issues that you just brought up evolve: consumerism, retail, different payment models. And it occurs to me it’s an interesting question from my perspective. Do you think that these ideas are being pursued because there’s a realization that the technology is available to affect them? Because a lot of them we’ve thought about before, right?
BG: Well, we have. And certainly people look to kind of the foundational EMRs as the first substrate, right, in the solution stack that needs to be built. And I think EMRs are good and necessary. They’re not sufficient. It’s a common database, and of course it isn’t that common; there are whatever, there are 30-plus different EMR systems that are out there, and obviously Epic takes its share of a slice of that market, while Athena Health takes a different share, a different slice of a different market. But in the end, there are a lot of these EMRs, and by and large they’ve been built as billing systems because that’s the industry that they were serving. But at least there’s a common plumbing, there’s the digitization of the health record, even though it’s largely for the purpose of billing systems. But at least clinical information is being digitized. It’s incomplete in terms of the clinical information, but a great and important and critical and necessary first step. But on top of all that is really where I think the value will be built over the next decade or 2 as the system is being changed. And so healthcare has been a technology laggard, as we all know, for a variety of reasons, structurally and otherwise. It’s a regulated industry, and so it’s complex and not for the faint of heart. But now, the business is changing and has changed forever. And the fundamental economics of a provider or a payer or a lab company or anyone else kind of as a legacy provider is different today. And so you need to point at where the opportunities are going to be in healthcare, and that’s what these innovative companies are driving.
SK: So let’s dig into the conference. I was there last year. I started to do this Podcast as sort of an extension of the conference. We’ve talked to up to this point thirty-plus entrepreneurs that are either the founders or the CEO or both of digital health companies out there, and covered some of the ideas that you talked about: consumerization, analytics, the movement away from fee for service. So what do we have in store for us at the conference this year? Where are you guys headed with your agenda and the types of companies that’ll be there?
BG: Great. Yeah, no, thanks for bringing up the conference. I do think that these summits, these gatherings, these kind of one-day events start with – to make them great, start with a great advisory board. And not trying to be self-serving there, in terms of my own role, but I’m co-chairing it with Robert Mittendorff of Norwest Venture Partners –
SK: Now we know it’s going to be good, right?
BG: That’s right, yeah. But the fact is the advisory board that we have is just spectacular, and we’re really proud of it. And it’s all up on the website, but just to run through a few names, so Carl Byers of F-Prime, and Lynne Chou of Kleiner Perkins, Todd Cozzens now at Leerink. Doug Greenberg from Korn Ferry. Startup Health is represented, Silicon Valley Bank, of course, Brandon Hull from Cardinal Partners, Lucian Iancovici from dRx, the Qualcomm, Novartis, New Fund. Steve Krauss from Bessemer, Noah Lewis, GE Ventures, Annie Lamont from Oak, HCFT, her new fund. Steve, you obviously from Psilos, KKR, Cerner, Paul Wallace from Heritage Group. We also have Krishna Yeshwant from Google Ventures, Mike Weintraub from Optum, who was an entrepreneur that we’ve had the pleasure of backing a couple of times now. So from our point of view, it’s a great mix of investors, of entrepreneurs, of people that understand what’s happening in healthcare technology. Larry Wittenberg from Goodwin is represented as well. And so it’s people who really understand the healthcare ecosystem. And then from there, we really were able to build what we think is just going to be a great program. I mean I think the principle purpose of most of these one-day gatherings is really to network with the people that you regard as the best in the industry. And that’s not restricted, of course, or exclusive to investors. It’s really all about entrepreneurs and founders. And so investors help bring, we think, great entrepreneurs and founders, and so we’ve got a fabulous lineup there. We’ll start the day with a keynote from David Blumenthal, so it’s always great to hear from someone who kind of architected the Affordable Care Act at one level, and played the role that he did. We’ll also have a keynote from John Gerber at MIT, a professor in economics, who really was a principal architect of the ACA. And so I think it’ll be good, a week away from the election, for the President of the United States. I think it’ll be great to start with where are we in terms of the promise of the Affordable Care Act and where is it going, and in particular, a week away from the election, the difference as to where it might go depending upon whether we end up with President Trump or President Hillary Clinton is pretty dramatic and a stark contrast, we think, for healthcare technology. At the same time, it’s just too late to unwind the fundamental economics of what was driving the ACA.
BG: And insuring the uninsured and changing forever, we think, the business model of healthcare, a $3 trillion cost center that’s 18 plus percent of GDP is just unsustainable. And so undoubtedly there are improvements to come, and there are better ways, and there’s certainly been a lot of learning over the last few years. But at the end of the day, costs need to come down, and patient outcomes need to improve. And so we think David Blumenthal and Jon Gruber will obviously speak to that. We’ve got some leading provider system CEOs and CIOs who’ll be with us, including the former CEO of Partners Healthcare, Gary Gottlieb. We have executives from Intermountain Healthcare who will be with us as well. Privia Health is speaking, the CEO and founder, Iora Health will also be speaking. We’ve got a panel that’s going to drill down into opportunities in behavioral health, and so Annie Lamont is going to be leading that panel, and I think that’ll be quite interesting the way she’s pulling that panel together, because behavioral health is one of those areas, as we know, where the costs are extraordinarily high, care is given to just a small percentage of the people, so the opportunity is great. And it’s a big problem in this country that needs to be addressed. And the comorbidities associated with behavioral health and other diseases of course exist, and need to be – and those related problems need to be solved. And so we think digital health and healthcare technology can be a fundamental enabler. Steve Kraus from Bessemer Venture Partners is going to be leading a really interesting panel, we think, kind of tying together the consumerization of healthcare and the opportunity that exists for next gen payers. And so we were fortunate to be a seed investor at a company called Bright Health around one of our firm’s executive partners, Bob Sheehy, and two other original cofounders, Kyle Rolfing, who started a couple of companies along the way, RedBrick and Definity, and Tom Valdivia, also at Definity. And so Steve is going to be putting a panel together, already has, that’ll feature Bright Health as well as one of their provider launch partners in Colorado, Centura Health. And so I think that’ll be a great discussion as well about how kind of the new model for consumer driven health plans. And then we’ll do a fireside chat with a few other executives, Charles Koontz, who runs GE Healthcare IT, will kind of give us the perspective of a larger company. And he’s a real thought leader and we’re just thrilled, really thrilled to have him. And so he’ll be doing that. Paul Wallace will be leading a panel, Paul from Heritage Group will be leading a panel with a number of leading provider systems with whom he’s close, and his firm is close. And so I think their perspective on their priorities will be quite important for all of us and Dignity Health will be on that panel as well as Intermountain. Docent Health, a new company, will be featured, so Paul Roscoe is going to be with us as well. So as the speakers then begin to fan out, it’s really, I think, going to be a very interactive session. Attendance is capped at 350. It sold out last year, it sold out the year before. We have more registrants now at this time just 5, 6 weeks out from the conference than we did last year or the year before, so no doubt it’ll be over-subscribed again. And we’re thrilled with that. I think and part of the magic of this summit is that it’s one day, great entrepreneurs and founders, kind of leading capital sources. And the discussions are very interactive and very powerful. And so I think it’s one of those conferences that will be networking plus great learning for the day.
SK: Yep. And just so everybody knows, you can find out about the conference. It’s the Digital Healthcare Innovation Summit in Boston, and the information on the conference can be found at Healthegy, that’s health with EGY at the end dot com. And it’s on November second of 2016 in Boston, which is a great town. I spend about half my time there now. And I know you’re a resident, Bill, so you can speak for Boston. And certainly the sports teams are doing very well.
BG: Yeah, it’s great to have it in Boston, and certainly a fun town from our perspective as well. One other panel I should talk about, and maybe 2 others. So Brandon Hull from Cardinal Partners is going to be moderating a panel on kind of is this the time now, will this be a breakout year for the physician ACO. And Privia Health and Village MD and Iora Health will be on that panel, and I think that’ll be a great discussion. The former CEO of Partners Healthcare, Gary Gottlieb, will be with us and I’ll be doing the Fireside Chat with him. And then we’ll do a deep dive as well on kind of prescriptive analytics and artificial intelligence and the opportunities in healthcare that exist for AI and exist for predictive and prescriptive analytics in healthcare, which we think is an area that offers a lot of promise. And so Mike Weintraub from Optum will be on that panel, Paul Magelli, the CEO of a company called Apervita will be on that panel, Noah Lewis from GE Ventures will be involved in that panel as well, and then the founder and CEO of analyticsMD. And then Don Trigg, the President of Cerner Health Ventures, will also be leading a panel where he’ll be talking about kind of the importance of innovation in health systems, and get very specific as to what those opportunities are. And then we’ll close with an overview of both private and public markets and what’s going on in healthcare technology. And so George Hill from Deutsche Bank will lead that session. And we’re pleased to have him as well.
SK: Yeah, these are some great guests. I’m very interested to listen to David Blumenthal, and then of course Jonathan Gruber was sort of put in a tough spot by the Republicans, right, over some of his comments in some other conferences. So maybe he’ll feel less – maybe he’ll be a little constrained, or maybe he’ll feel more than willing to address some of those things. But I can’t remember the exact thing he said that got him into trouble.
BG: Well, and I think the beauty of this conference, too, is when you have a small group like we will, that really understands the space and knows the need, people speak freely and in an unconstrained way. And quite honestly, that’s when we all leave with some interesting ideas. And it’s not just for the sake of being provocative, but it’s for the sake of really disrupting an industry that needs to be disrupted, where more people get served better, at lower cost. And so I think it’s a day that has always been in the last few years, when I’ve been attending, and I think this year will be no different, where speakers and panels will be provocative and inspiring. And so no, we put the agenda together specifically to really help ignite that.
SK: Yes, it’s a great agenda. While I’ve got you, I’d love to just get some of your perspective on some comments. So one of the areas that we’re obviously going to explore with Blumenthal and Gruber is the role of the government in healthcare. And I’ve made this statement a number of times on the Podcast, where I think that our government is one of the leading sort of catalysts for innovation in healthcare, certainly with the Affordable Care Act, but certainly with some of the payment reforms that are coming out of CMS. Any comment on that? Do you agree? Disagree?
BG: Yeah, no, I totally agree with that. I think Andy Slavitt has really pushed boundaries here. And it doesn’t mean that every program is right out of the gate. Certainly they’re being modified and yesterday’s learnings are being brought into new legislation tomorrow. But I think so. And the need is particularly acute for the government, for Medicare, Medicaid, and Andy has been a big driver. So with 50% of government payments going to value based care in the next couple of years, he has been pushing that agenda really hard, and I think it’s for the good of the entire industry, never mind our country. And so will all of those initial – I mean it’s a regulated industry, it’s challenging to navigate. Will all of those initial instances of regulations get it right? No. But I think he’s proven that he’ll hear that feedback, incorporate it certainly. He’s quite familiar with the private sector. And so I think he’s done a fantastic job of really trying to assimilate all that and drive the industry from fee for service to value based care.
SK: No, no, and what I notice is when I go out and talk to the corporations, for example, that struggle mightily with their healthcare costs – I was just looking at the budget for healthcare expenses for one of my portfolio companies and I was sort of stunned. It often comes back to hit you. But they love these ideas, right? They all, the corporations are very interested in things like bundled payments and value based reimbursement from the standpoint of keeping patients healthy and keeping them out of the hospital. So as – and it is really the government that sort of starts this ball rolling. You said something earlier in the discussion where you thought that the presidential election was consequential with respect to the direction of healthcare. And I don’t want to turn this into a political discussion, but from your vantage point, I would guess that means that you have concern that some of the things that Andy Slavitt and others have been doing under the Democratic administrations in the last 8 years might be undone if there was a change in direction. Is that where you were headed?
BG: Yeah. I think it’s a fair comment. I think it’s too late to undo things, but I actually think in a different administration that has different priorities and has made bold proclamations, I think we could take a couple of steps backward in healthcare reform, and in the implementation of healthcare technology that’s so needed to drive the innovation to drive those reforms. I think we could take a couple of steps backward, as maybe some efforts freeze a little bit before the path forward is clear. But the need is just too great, the path is obvious, and I don’t see any of what we’re talking about being undone. But certainly the pause button could be hit while people try and figure out where the dust settles. And that’s under a Trump administration. I think should Hillary prevail, I think we’ll keep marching forward at an even more accelerated pace as I think she sees a broader opportunity to really focus on lowering healthcare costs and having more people be appropriately covered.
SK: Interesting. So we’ve got a couple of minutes left, and I can’t have a VC on the show without getting into some of – getting into your head a little bit about how you look at investments. So let me ask you a couple of questions, and go in that direction for a second. So a lot of what we talk about on the show has to do with culture of a startup, the characteristics of an entrepreneur, who, let’s face it, are different people than most of the people we meet on a daily basis. So when you’re looking at your deals, somebody comes to visit you with a startup, how do you assess the entrepreneur and how do you assess the culture of the firm and determine whether or not that’s an investment that interests you?
BG: Yeah, so that’s a great question, and thanks for that. We’re seed and early stage investors primarily. We have capital for the full life cycle of these companies. We like to start earlier. One of our most recent investments was a seed, $300,000 around the founding team of Bright Health, Bob Sheehy and Kyle Rolfing and Tom Valdivia. And then made a handful of introductions for new investors to join with us, and NEA and Bessemer did, and of course we participated in a big series A for that company. So it’s hard not to be a shill for our own investments. We have 6 great investments. Iora Health is certainly one of them, and Bright Health and ClearData and Healthverity and Valence Health, which is in the middle of – hasn’t closed yet, but in the middle of being acquired by Evolent Health, and then Welltok. So we love all those companies. We weren’t founding investors in each of them, but we’ve been founding investors in a few of them. And certainly we’re maniacally focused on healthcare technology and digital health and bringing ROI to healthcare where it didn’t previously exist. And again, that’s all about lowering the cost of care and improving outcomes. And so that’s our investment thesis. But at the same time, as we all know, it takes great people and great entrepreneurs to start these companies. We’re privileged to be in business with them. We think we help accelerate the path off the launch pad. We think we can help identify a few launch pads in tandem with great entrepreneurs and founders. But we’re fuel, and we’re fuel in more ways than of course just capital, but we’re fuel in terms of having seen the movie before of how to build great companies in this space. And first and foremost, that comes down to great people and filling the need and of ahead of the stress crack. And so backing great people is what we’re looking to do. And we’re always mining for great people at the same time. And whether someone’s a founder or a member of a founding team, or people that we can pair together to go after a particular opportunity, that’s really where we love to start. So we like to be both thematic as well as compliment that and combine that with being in the people mining business. I’ve never seen an early stage company fail because the people were just too good. The reality is it takes great people, great people point at big markets, and find the underbelly of the opportunity with the right product, the right solution, the right service offering. And we’re quite flexible as to whether it’s a pure product or service offering or tech-enabled service somewhere in the middle. In the end, it’s less about that. It’s all about solving a big problem for the customer, and the mix of whether it’s traditional software or service or tech-enabled service is really less relevant. It’s all about solving a big problem for the customer and pointing at a big market. And that starts with great people.
SK: And you just never know. They come in all different shapes and sizes, right? I mean to me, there isn’t a formula, right, in the startup for a great person. It’s more or less something about them when you meet them and they present their idea. Obviously you like to see relevant experience, but in this market in particular, we’re starting to see the Millennials and the younger people come in with some pretty cool startup ideas. So it’s a lot of, at least from my point of view, is a gut reaction as to whether or not you think the person who’s presenting the idea can handle –
BG: Healthcare is cool now.
SK: Yeah, right?
BG: Right? And so young, tech-savvy entrepreneurs and founders are coming to healthcare. The problems are big, it’s an industry that, without data and infrastructure has layer one of the EMRs today. But tech-savvy, young and experienced entrepreneurs are coming to healthcare to solve the big problem and to do something good. And I think that’s the attraction of healthcare technology today for tech-savvy entrepreneurs and founders as well as experienced and first timers, as well as the magnitude of the problems are so large and touching each of us and our loved ones and parents. And so it’s problems that we all want to see solved selfishly, as well as for the good of society. And so – and it’s a cool place to start a new company. And so we love backing first time entrepreneurs, and we love backing experienced people, and we love actually helping mix both first time entrepreneurs with experienced people to really figure how to best navigate the opportunity. And so I agree with you. There’s no magic formula. It almost always starts with great people who point at big problems and really are able to figure out how to put a solution together.
SK: Very cool. Again, I’m here with Bill Geary. He’s a partner at Flare Capital Partners, but also the co-chairman of the Digital Healthcare Innovation Summit, which is taking place November second in Boston. Get over to healthegy.com to learn more about that. Bill, we’re at the end of our time, but I want to give you an opportunity to let people know how they can reach you. Twitter, Facebook, email, website, all that good stuff. I’m sure there’s plenty of people listening that have an interesting idea they’d love to share. So what’s the best place for people to reach out to you guys?
BG: No, thanks again, Steve, and thanks for the opportunity to be a part of this. And so come visit our Flare Capital website at flarecapital.com. Certainly easy to find me on LinkedIn, Twitter @BillGeary, or just email me firstname.lastname@example.org.
SK: OK, thanks for joining us, Bill.
BG: Thanks so much, Steve.
SK: See you at the conference.
BG: See you soon.