David Eigan started VitaSave in 1997, one of the first online marketplaces for discounted vitamin and food supplements and related materials. In 2015, David co-founded P5 Health Ventures to fulfill a twenty year old vision of consumer-driven personalized healthcare. Listen to the podcast as he unravels how his company has been significantly changing health care and how they are improving human health.
Key Questions answered and highlights:
1. Share a little bit about your journey and how it has lead you to P5 Ventures (01:45)
– Journey through illness and healing
– P5 represents 5 Chinese elements
2. Your vision is where people are empowered to manage own health. How can we make this vision a reality? (08:48)
– The focus of P5 Health Ventures is not only to help figure out what’s wrong but also to democratize.
3. How do we get the doctors that accept insurance start practicing the way functional medicine doctors practice? (15:21)
– Until there are proven protocols, material outcomes that are beneficial, doctors won’t change or will change but in about 20-25 years.
– There’s huge problem with food supply.
4. “We have an education problem. There’s a small percentage of people that really understand what a truly healthy diet looks like.” (20:16)
5. Share with our listeners a couple of companies that you’re excited about in their quest to help us live longer, healthier and happier. (25:53)
6. What have you seen in terms of consumer adoption trends for these apps? (34:12)
– The more serious the disease, the more reassurance that they’re doing the right thing they need. If they don’t have a constant reminder, they’re not going to do it over time.
– People need a ‘coach’.
7. For those startup founders who are listening to this podcast, what insights and tips can you share? (40:21)
– Go to the top 2 practicioners and convince them for a conference
– Have a high level of empathy and respect
– You need to understand how do I get my product or service into people’s hands and run the scenarios
– Get a balance sheet!
8. Where’s the money? Who’s the writing the check that is then used to pay the doctor? (47:26)
– Doctors are paying for it.
9. Where do you see the most exciting opportunities for you and startups today? (51:42)
– Take cost and stress out of the system, and have a software
– Start with a problem
– Don’t settle
– People don’t like to change their routines, so you have to make their life easier. Find a way to make work easier.
10. Where’s the next billion dollar venture going to come from? Which specific chronic illness do you think it’s going to be focused on addressing? (59:40)
– China and Israel
– Diabetes has the largest opportunity.
– Go where the engineers are, check the quality.
11. Where do you feel that actually people are not focused enough, that there is a non-competitive space that is ripe for innovation? (1:04:35)
– The ability to track and manage a disease
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