Eliminating middlemen in healthcare The US spends more money per person on healthcare than any other developed nation, yet our patient outcomes are no better. Much of our spend goes to paying middlemen — which in our view includes everyone not directly providing care to patients. A recent report on medicare spending on drugs found that 70% of spend went to middlemen (primarily PBMs, wholesalers, and pharmacies) and only 30% to the pharmaceutical companies who make the drugs. Similar dynamics exist in every other vertical — hospital care, medical equipment, insurance, etc. There are many ways startups could attack these inefficiencies, from using AI to automate repe***ive human jobs to exploring new and better business models for providing care. In the spirit of Jeff Bezos’ “your margin is my opportunity”, we believe it’s possible to build a highly profitable business and make the system more efficient at the same time.