#455 – Guy Friedman, Co-Founder & CEO at SteadyMD

Introduction

In a recent episode of the Slice of Healthcare podcast, host Jared Taylor sat down with Guy Friedman, co-founder and CEO of SteadyMD. They discussed the company’s journey, its pivotal role in the digital health market, and exciting future prospects. From its inception as a virtual concierge primary care service to becoming a comprehensive 50-state clinician network, SteadyMD has continually evolved to meet the needs of digital health companies and patients alike.

The Genesis and Evolution of SteadyMD

Guy Friedman provided an insightful overview of SteadyMD’s history, highlighting its origins in 2017. Initially focused on offering virtual concierge primary care, SteadyMD charged patients a monthly fee for unlimited access to their doctors. This model allowed them to build a strong foundation in digital health. However, in early 2020, the company pivoted to its current model, integrating a vast network of clinicians across all 50 states to support various digital health modalities.

Adapting to Market Dynamics

The onset of COVID-19 in 2020 marked a significant turning point for SteadyMD and the digital health industry. The pandemic spurred a massive spike in demand for digital health services, leading to increased funding and rapid growth. SteadyMD capitalized on this momentum by signing deals with numerous early-stage startups, helping them scale and manage their clinical operations efficiently.

As the market matured in 2022 and 2023, SteadyMD shifted its focus to larger enterprise deals. Today, it stands as a crucial player in providing digital health companies with access to a well-trained, extensive clinician network. This strategic adaptation has positioned SteadyMD to navigate the fluctuating demands of the digital health landscape.

The Bridge Partnership: A Game-Changer

One of the key highlights of the conversation was SteadyMD’s partnership with Bridge. This collaboration aims to streamline the process of credentialing clinicians for digital health companies, facilitating smoother integration into payer deals. This partnership is expected to enhance patient access to digital health services and offer more growth opportunities for digital health companies transitioning from cash-pay models to insurance-based models.

Embracing AI in Digital Health

Guy Friedman expressed enthusiasm about the practical implementation of AI in healthcare. While AI’s potential has been widely discussed, real-world applications are now beginning to surface. SteadyMD is focusing on leveraging AI to enhance clinical efficiency, improve patient care, and streamline medical record management. This technological integration is set to revolutionize the way digital health services are delivered, making them more accessible and efficient.

The Future of Digital Health

Looking ahead, Guy Friedman envisions a stabilized and steadily growing digital health industry. He anticipates more mergers and consolidations, leading to a more defined and agreed-upon playbook for success. This stability is expected to open up new financing options and opportunities for digital health companies.

The implementation of AI, combined with a more methodical growth path, promises to drive the industry forward. SteadyMD is poised to play a significant role in this evolution, continuing its mission to provide the best clinician network for digital health and ensuring patients receive top-quality care.