313: Boe Hartman, Co-Founder & CTO of Nomi Health, on Transforming U.S. Healthcare with Real-Time Data, Innovation and AI
AI and the Future of Work
Deep Dive
Why did Boe Hartman transition from Goldman Sachs to co-founding Nomi Health?
Boe Hartman transitioned to Nomi Health to address inefficiencies in the U.S. healthcare system, driven by his understanding of payments and technology. He was inspired by the realization that paying doctors directly could reduce costs by 30% to 50%, but the system was calcified and lacked digital efficiency. His personal and friends' healthcare stories further motivated him to make a difference.
How did Nomi Health respond to the COVID-19 pandemic?
Nomi Health quickly developed scalable, digital-first solutions for mass testing, including high-throughput labs, large testing locations, and digital engagement platforms. They provided real-time analytics to 15 states, enabling governors to make informed decisions. Nomi also built its own high-throughput labs and ensured PCR test results within 24 hours, significantly improving pandemic response efficiency.
What role did real-time data play in Nomi Health's COVID-19 response?
Real-time data allowed Nomi Health to provide governors with immediate insights into testing numbers, positive cases, and other critical metrics. This was a significant shift from traditional state data science teams, which took days or weeks to deliver insights. Real-time analytics enabled faster decision-making and better pandemic management.
What challenges did Nomi Health face during the pandemic?
Nomi Health faced challenges such as attacks from established healthcare companies, media criticism, and unpaid insurance claims. Despite delivering on contracts, some insurers refused to pay, which was unprecedented for Boe Hartman, given his banking background. Additionally, the company had to scale rapidly while managing massive amounts of personally identifiable information securely.
How does Nomi Health use AI today?
Nomi Health uses AI for co-pilots to analyze market situations, internal regulatory compliance through a custom LLM, and customer experience improvements. They also leverage AI for payment integrity, similar to fraud checks in banking, to ensure healthcare dollars are spent appropriately. AI is also used in cybersecurity, coding, and infrastructure development.
What is Nomi Health's vision for transforming U.S. healthcare?
Nomi Health aims to reduce U.S. healthcare costs by a trillion dollars by enabling real-time payments, fair market pricing, and data-driven decision-making. Their vision includes allowing patients to choose any provider without network constraints, reducing deductibles and copays, and improving access to care. They also focus on funding innovative treatments like GLP-1s and genetic solutions.
What impact did the COVID-19 pandemic have on the U.S. healthcare system?
The pandemic decimated the U.S. healthcare system, exposing its inefficiencies and breaking its back. Governors and CFOs had to confront rising healthcare costs and employee health issues directly. This crisis has led to increased openness among policymakers and industry leaders to adopt innovative solutions like those proposed by Nomi Health.
- Boe Hartman's background in global tech and banking at firms like Capital One, Barclays, and Goldman Sachs.
- His transition from Goldman Sachs to co-founding Nomi Health to tackle inefficiencies in the US healthcare system.
- The pivotal role of technology and data in improving healthcare economics and accessibility.
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