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Twenty years before value-based care became a healthcare buzzword, Rushika Fernandopulle was told he had to choose: be a doctor or join "the dark side" of business. Instead, he chose both – building Iora Health from a bootstrapped startup into a billion-dollar healthcare company. In this candid conversation, Fernandopulle reveals the unconventional journey that helped transform American healthcare, from midnight meetings in Las Vegas speakeasies to breaking every rule in the traditional medical playbook.We cover:
The healthcare space has long been a transactional one, seeing patients as numbers instead of human relationships. In 2004, Dr. Rushika Fernandopulle began to challenge the status quo and create an entirely new model of care delivery that finally put patients at the center of healthcare. Rushika Fernandopulle is the co-founder and former CEO of Iora Health, a value-based primary care group based in Boston that was acquired by One Medical in 2021, where he served as Chief Innovation Officer. One Medical was acquired by Amazon earlier this year for close to $4 billion. Rushika currently serves on the staff at the Massachusetts General Hospital, on the faculty of Harvard Medical School, and on the boards of Families USA and the Schwartz Center for Compassionate Care.In this episode, Hercules Capital's Katie Segien is joined by Rushika Fernandopulle to discuss how he created a new delivery model for medicine, Iora Health's business model evolution, going from bootstrapping to six rounds of funding, and other topics.Topics Include:Rushika's mission and experience in transforming healthcareHow he created a new delivery model for medicineIora Health's business model evolutionGoing from bootstrapping to six rounds of fundingRushika's process for building an optimal teamAdvice for entrepreneurs who are struggling to raise capitalAnd other topics…Dr. Rushika Fernandopulle is a practicing physician who has spent decades improving the quality of healthcare delivered to patients. He was co-founder and CEO of Iora Health, a value-based primary care group based in Boston that delivers better quality, lower costs, and improved satisfaction for both patients and providers. Iora was acquired by One Medical in 2021 for over $2 billion, which went on to be acquired by Amazon earlier this year for close to $4 billion.Rushika was the first Executive Director of the Harvard Interfaculty Program for Health Systems Improvement and Managing Director of the Clinical Initiatives Center at the Advisory Board Company. He serves on the staff at the Massachusetts General Hospital, on the faculty of Harvard Medical School, and on the boards of Families USA and the Schwartz Center for Compassionate Care.
In this compelling episode of The Healthy Project Podcast, I welcome Vanessa Guzman, the dynamic force behind Smartrise Health, a platform meticulously designed to re-engineer and enhance care processes across health systems and organizations. Dive deep with us as we explore the innovative methodologies employed by Smartrise Health in mitigating health disparities and promoting equitable care.Discover insights into: The comprehensive re-calibration and redesign of care processes for health systems and plans, ensure a robust framework to address disparities. The meaningful impact and tangible outcomes of implementing Smart Rise's strategies, including staggering savings and enriched community-focused programs. Educational platforms and fellowships aimed at empowering healthcare leaders and embedding a culture of health equity across organizations. The benevolent layer of Smartrise, reinvests a significant portion of revenue into charitable activities, thus perpetuating a cycle of giving and community upliftment. Vanessa shares firsthand experiences and innovative approaches towards designing a healthcare model that doesn't just identify, but also strategizes and implements practical solutions for bridging the gaps in quality care. We delve into not just the how but also the why behind creating a healthcare system that is equitable, accessible, and effectively addresses the root causes of disparities.Connect with Vanessa and explore more about Smartrise Health's pivotal role in championing health equity, redefining care processes, and shaping the future of healthcare delivery. www.smartrisehealth.comConnect with Corey:LinkedinInstagramFacebookYouTubeX (formerly Twitter)Website ★ Support this podcast ★
Today, we're excited to get to know Dr. Rushika Fernandopulle, previous Chief Innovation Officer of One Medical, an organization dedicated to providing human-centered, technology-powered primary care to people across every stage of life. In an acquisition that shook the healthcare industry in September 2021, One Medical completed the purchase of Iora Health - a primary care organization that prioritizes human-centered, value-based care. The deal, which amounted to a staggering $1.4 billion, was a testament to Iora Health's success in delivering high-quality care at lower costs, while improving patient satisfaction. The visionary behind Iora is none other than Dr. Rushika Fernandopulle, who spent decades improving the quality of healthcare delivered to patients. He was the Executive Director of the Harvard Interfaculty Program for Health Systems Improvement, and Managing Director of the Clinical Initiatives Center at the Advisory Board Company. He also serves on the staff at the Massachusetts General Hospital and on the faculty of Harvard Medical School. In this episode, Dr. Fernandopulle talks about his path to medicine, describes how he started and grew Iora Health, the acquisition by One Medical, and the future of primary care.
Hosts Fred Goldstein and Gregg Masters, MPH welcome Rushika Fernandopulle MD, co-founder & CEO Iora Health. Dr. Fernandopulle is a physician who has spent decades improving the quality of healthcare delivered to patients. He was the first Executive Director of the Harvard Interfaculty Program for Health Systems Improvement, and served as a Managing Director of the Advisory Board Company. He serves on the faculty and earned his AB, MD, and MPP from Harvard University. He completed his clinical training at the Massachusetts General Hospital. He discusses the value proposition the Iora Health model contrasting with DPCs, ACOs, and global riaks bearing IDNs, as well as the macro market shift to value based healthcare and the implications for provider positioning strategies and continued relevance of our current 3rd party payor model. Want to stream our station live? Visit www.HealthcareNOWRadio.com. Find all of our show episodes on your favorite podcast platforms. https://www.healthcarenowradio.com/listen/
On PopHealth Week our guest is Rushika Fernandopulle MD co-founder & CEO Iora Health. Dr. Rushika Fernandopulle is a physician who has spent decades improving the quality of healthcare delivered to patients. He was the first Executive Director of the Harvard Interfaculty Program for Health Systems Improvement, and served as a Managing Director of the Advisory Board Company. He serves on the faculty and earned his AB, MD, and MPP from Harvard University. He completed his clinical training at the Massachusetts General Hospital. Iora Health changes primary care as we know it. Iora's care team, includes a dedicated advocate for each patient, works together to treat the whole person. ==##==
On PopHealth Week our guest is Rushika Fernandopulle MD co-founder & CEO Iora Health. Dr. Rushika Fernandopulle is a physician who has spent decades improving the quality of healthcare delivered to patients. He was the first Executive Director of the Harvard Interfaculty Program for Health Systems Improvement, and served as a Managing Director of the Advisory Board Company. He serves on the faculty and earned his AB, MD, and MPP from Harvard University. He completed his clinical training at the Massachusetts General Hospital. Iora Health changes primary care as we know it. Iora's care team, includes a dedicated advocate for each patient, works together to treat the whole person. ==##==
I have known Rushika Fernandopulle, MD for nearly seven years and I worked for Iora Health for almost six years. He's a man of integrity, humility and seeks to provide support for humanity and he's a lot of fun. When I lived in Las Vegas, NV I always looked forward to his visits to the Las Vegas practices because his insight was unique, practical and humane. Rushika Fernandopulle, MD is a physician who has spent more than ten years involved in efforts to improve the quality of healthcare delivered to patients. He was the first Executive Director of the Harvard Interfaculty Program for Health Systems Improvement, and served as a Managing Director of the Advisory Board Company. He serves on the faculty and earned his AB, MD, and MPP from Harvard University. He completed his clinical training at the Massachusetts General Hospital. To connect with Iora Health: * Website: www.iorahealth.com
Today’s episode is the second episode in our series on new models of Primary Care! Our guest today, Rushika Fernandopulle, MD, is Co-Founder and CEO of Iora Health. Rushika is a physician who has spent more than ten years involved in efforts to improve the quality of healthcare delivered to patients. He was the first Executive Director of the Harvard Interfaculty Program for Health Systems Improvement, and served as a Managing Director of the Advisory Board Company. He serves on the faculty and earned his MD and Masters in Health Policy from Harvard University and completed his clinical training at the Massachusetts General Hospital. In 2011, Rushika Co-founded Iora Health; Iora Health is building a different kind of health system to deliver high-impact, relationship-based care, helping patients manage their health and navigate the healthcare system. In this episode we cover: Rushika’s background and where his interest in improving healthcare delivery came from How the Iora Health model works What early iterations of the business model look like and what did Rushika try before arriving at what Iora is today As the company grows, how Iora Health continue to embrace innovation Iora Health has raised over $123M in funding to date; Rushika discusses the crucial inflection points in knowing when it was time to bring on new capital How Rushika responds to the criticism that these standalone primary care models could create more fragmentation in the system As Iora Health continues to expand and to raise money, besides capital, what Rushika looked for in his initial investors and what he looks for now in the later rounds Iora Health launched an Accountable Care agreement with Humana in Arizona and Washington for their Medicare Advantage population beginning in 2014. Rushika explains how Iora works with Humana and other insurers and where he sees possible opportunities moving forward What Rushika thinks about partnerships with health systems Where Rushika sees the future of these New Models of Primary Care heading Connect with Rushika: LinkedIn Twitter Connect with Iora Health: Website Twitter Connect with Healthbox Follow us on Twitter and @ChuckFeerick Subscribe and leave a review in iTunes Have guest suggestions or topic ideas for the podcast? Send them to us at ideas@healthbox.com Listen to this episode on iTunes, SoundCloud, or Libsyn
Everyone can agree that our current healthcare model is broken. But the question is, can we fix it from the inside? or do we need to start from scratch? My next guest, Dr. Rushika Fernandopulle believes in order to best address the looming crisis, we need to reimagine health care from the ground up, and build new primary care models from scratch. He is the founder of Iora Health, a next generation primary care practice designed to restore the humanity in healthcare. In recent weeks, we have seen similar primary care models like Qliance and Turntable Health fold under unsustainable business models. By what makes Iora Health different and successful to date? On this episode, Dr. Fernandopulle will share his secret sauce to success, what he believes is broken in primary care, what the future holds for quality medical care, and the inspirational backstory that led him to start Iora Health. All this and more on today’s episode. Now, That’s Unusual. About Dr. Rushika Fernandopulle Dr. Rushika Fernandopulle is a practicing physician and co-founder and CEO of Iora Health, a healthcare services firm based in Cambridge MA whose mission is to build a radically new model of primary care to improve quality and service and reduce overall expenditures. In 2012 he was named an Ashoka Global Fellow, and is also a member of the Albert Schweitzer and Salzburg Global Fellowships. He was the first Executive Director of the Harvard Interfaculty Program for Health Systems Improvement, and Managing Director of the Clinical Initiatives Center at the Advisory Board Company. He is co-author or editor of several publications including Health Care Policy, a textbook for physicians and medical students, and Uninsured in America: Life and Death in the Land of Opportunity. He serves on the staff at the Massachusetts General Hospital, on the faculty of Harvard Medical School, and on the boards of Families USA and the Schwartz Center for Compassionate Care. He earned his A.B., M.D., and M.P.P. (Masters in Public Policy) from Harvard University, and completed his clinical training at the University of Pennsylvania and the Massachusetts General Hospital. Key Interview Takeaways Although innovations in technology continue to evolve the healthcare space, the way we deliver care has remained stagnant. Healthcare is a series of fragmented transactions, and outcomes are not the focus. Dr. Fernandopulle’s motivation to tackle this issue came from a colleague’s plea, “Every day, I lose a little piece of my soul.” Most enter the medical profession with the intention of helping people, but the system gets in the way. “Half-ass, incremental change doesn’t work.” Dr. Fernandopulle had the simple insight that starting over was the only approach, and Iora seeks to rebuild healthcare from the ground up, starting with primary care. Dr. Fernandopulle set out to replicate the Southwest Airlines paradigm: Show up in the market, break the rules, and compel others to change in order to keep up. His mission is to transform healthcare by building a different model and demonstrating this new approach for others to follow. Iora operates on the idea that the doctor’s job is to radically empower her patients, giving them the tools to improve and maintain health in a system that keeps learning and adapts quickly. The most difficult part of developing the Iora model was designing the payment system. Dr. Fernandopulle rejects the fee-for-service model, and he sought payers (employers, union trusts, etc.) who were willing to pay for the relationship rather than individual transactions. The Iora system has been cost-effective in terms of patient/team experience, clinical outcomes, cost of care, and economic sustainability. Iora practices have 96-98% retention rates, and they have experienced 40-50% drops in hospitalizations. Behavior change is a slow process. The Iora model invests more money in patients early on, but typically sees big savings in healthcare costs by year three.
On the Wednesday July 8th 2015 broadcast of PopHealth Week at 9AM Pacific/12Noon Eastern, in our continuing focus on primary care and population health we are pleased to welcome Rushika Fernandopulle, MD, the Co-Founder and CEO of iora health a growing and disruptive force in the direct practice (including membership and retainer practice medicine) market. Dr. Fernandopulle has spent more than ten years involved in efforts to improve the quality of healthcare delivered to patients. He was the first Executive Director of the Harvard Interfaculty Program for Health Systems Improvement, and served as Managing Director of the Advisory Board Company. He serves on the faculty and earned his AB, MD, and MPP from Harvard University and completed his clinical training at the Massachusetts General Hospital.iora health value prop iora health believes that better health care starts with primary care. The practice is built upon three principles: Payment Focused on OutcomesPatient at the Center; andTechnologies that Enable Care One of iora Health‘s goals is to empower the individual and they utilize care teams and health coaches as the connection. Iora health also places a focus on integrating behavioral health. Join Dr. Rushika Fernandopulle as our guest on PopHealth Week and learn more about this growing and innovative primary care model. For complete blog post, click here.
Today's guest is Rushika Fernandopule, Co-Founder and CEO of Iora Health. Iora Health is restoring humanity to healthcare by providing a radically different model of primary care built from the ground up. Iora Health's care model provides extraordinary service to patients to ensure improved health outcomes while also lowering overall plan costs. Our patients enjoy the benefits of better access to care, office and non-office based encounters (e.g. phone, text messages, and email), an accessible and transparent medical record, and robust educational offerings. Our practices, across the U.S., enjoy the benefits of smaller sizes, closer relationships with patients, and the opportunity to lead systemic change in healthcare delivery while working with a true team. For more information, please visit www.iorahealth.com. We will be covering the topic of Iora Health and the new Las Vegas Clinic Rushika is forming in collaboration with Tony Hsieh (Zappos) and ZDoggMD. Rushika is a physician who has spent much of the last ten years involved in efforts to improve the quality of healthcare delivered to patients. He was the first Executive Director of the Harvard Interfaculty Program for Health Systems Improvement, and served as a Managing Director of the Advisory Board Company. He serves on the faculty and earned his AB, MD, and MPP from Harvard University. He completed his clinical training at the Massachusetts General Hospital. www.linkedin.com/pub/rushika-fernandopulle/5/898/807