TailorMed’s uphill challenge to reform American healthcare
It may be the land of the free, but Americans’ dizzying healthcare costs are preventing adequate treatment
It’s no secret that America’s complicated healthcare system can cause confusion, bureaucratic nightmares, and not to mention substantial financial burdens on its citizens. It is technically made up of many organizations, usually healthcare providers, insurance companies, independent providers, and hospital systems that all provide healthcare in their own ways. Despite being a leading first-world country, it is ranked 29th in healthcare access and quality - meaning that many Americans fail to get the help they need unless protected by private companies.
“We saw there is a need to find ways patients can stay on their required treatment without going bankrupt or without impacting their clinical outcome, but also without solely relying on their financial abilities,” explained TailorMed’s Co-founder and CEO, Srulik Dvorsky. According to Dvorsky, even if external financing exists - usually in the form of philanthropy, government subsidies, or through pharmaceutical companies - the patient sometimes doesn’t even know where to look for additional or third-party help.
A lot of what TailorMed does relies on data. Medical records, billing systems, and payers are all analyzed to best serve the needs of the patients, as well as the interests of the pharmaceutical companies that need to sell, and keep selling, the medication sick people need. “If you have a diabetic patient who needs their insulin every month, that could be a few hundred dollars a month. If that patient cannot afford their treatment, then Pharma will not be able to provide that drug to the end patient,” he said.Healthcare in the U.S is, indeed, complicated. It seems utterly foreign for nations like Israel and the UK to consider balancing rising medical costs that reach the tens or hundreds of thousands of dollars each month. And while the company, which has 40 employees in Israel and 20 in the States, always expected to one day reach the USA like many other local startups, its location as a starting point was less of a dream and more of a necessity. While there are plans to expand, Dvorsky admits his hands are full by helping those in the land of the free to pay for their lives. “For the time being we have our hands full trying to address that very complicated problem,” he said.