New York City, NY– By now you’ve undoubtedly heard of the health insurance startup called Oscar Health (especially if you are a NYC subway frequenter). This startup has envisioned the health insurance system of the future. A system that doesn’t have confusing cost structures or arduous doctor visits. A system that is intuitive, reasonably priced, and technologically advanced.

To put their system to the test, I tried it. From the instant you begin to navigate their (one-page) website you know this isn’t a typical health insurance company. All in all it took me one minute to get my health insurance quote that provided me with multiple options and breakdowns that explicitly show what each package will offer you. I’ve had more troublesome times ordering t-shirts online before, and they didn’t come with a activity tracker or on-call doctor.

With Oscar’s recent 1.5 billion dollar valuation they are on their way to make waves in a system that is not known for rapid innovation. And they are making waves for not just their insurance holders, but the physicians providing the care.

“Just fixing the user experience won’t be enough,” he says. “We went to great lengths to create an incredibly close relationship between our technology and physicians. The physician can deliver care in an efficient way. The member loves it because it’s convenient, and frankly, we like it, because oftentimes, those conditions could become worse.”
– Co-founder, Mario Schlosser

Their innovative approach to health insurance is already beginning to produce results that make a case for the use of telemedicine.

  • 60% of Oscar members who have bronchitis have used the telemedicinefeature to diagnose it and get treatment.
  • Out of those cases, 93% get resolved over the phone with no need for a follow up visit.

 

This year Oscar has tripled enrollments and is confident that expansion to more states is on the horizon. “I really believe that the fact that we own our own system will give us control of our own destiny,” Founder Joshua Kushner said. “In the health care world, we think we’re just getting started.”

About the Author:

As Managing Director of Innovation for Syneos Health Communications, Leigh is responsible for shaping the company’s perspective on the next era of healthcare marketing. Through thought leadership, strategic innovation workshops and new products and capabilities, Leigh focuses on identifying marketing approaches that will fuel that new era and generate significant growth for clients. Leigh has worked with Fortune 1000 companies to craft their digital, mobile, social and CRM strategies for over 17 years. She’s worked for category-leading agencies in retail, public affairs, B2B technology, and higher education. Prior to moving to Syneos Health Communications, she had several leadership roles at one of our agencies, GSW. There, she founded an innovation practice fueled by the zeitgeist and spearheaded digital and innovation thinking across the business. Leigh has taken a special interest in complex healthcare products that can change lives in meaningful ways. She was recently a strategic lead on the 3rd largest launch in pharmaceutical history: Tecfidera. Before that she had keys roles with Eli Lilly Oncology, Abbott Nutrition, Amgen Cardiovascular, and Eli Lilly Diabetes. A critical part of Leigh’s work is trends and new ideas. Every year, she convenes a group of trend watchers from across our global network to identify the shifts most critical to healthcare marketers. Leigh is a sought-after writer and speaker. Recognized as one of the most inspiring people in the pharmaceutical industry by PharmaVoice, Leigh also was recognized as a Rising Star by the Healthcare Businesswomen's Association (HBA) for her overt passion, industry thought leadership and significant contributions in new business, strategy and mentoring.