Healthcare is at a turning point. Between myriad regulations, drug pricing guidelines, insurance premiums and co-payments, and different models of care, finding affordable healthcare is a major challenge for the average patient.
This is exactly the problem that Sesame, an online healthcare marketplace, is trying to solve. The company’s concept is simple yet revolutionary: “Access to convenient, high-quality, comprehensive medical care at affordable self-pay rates without insurance.” The online platform has essentially created a marketplace where patients can find the specialist they need and pay a direct fee for can pay for their consultation or treatment. The site lists a variety of specialties and services including but not limited to: emergency care, mental health, dermatology, women’s health, pediatrics, sexual health and more. Patients can also use this service for something as simple as medication refills.
With this model, the company wants to save its consumers a significant amount. Company co-founder and CEO, David Goldhill, states: “Equally high-quality care from similar world-class physicians at a fraction of the usual price; It’s the fundamental innovation that is Mole. […] Adding to all the expense and complexity of insurance, doctors offer birthmark treatment at prices that are about half the normal price. The quality of our investors is a testament to the power of this innovation.”
A doctor using telemedicine for patient care.
In particular, the platform is particularly suitable for those who are not or underinsured. Through Sesame, patients can directly purchase the service they want within their budget, just like purchasing any other product. The concept essentially integrates free market economics into healthcare delivery models, giving patients complete control.
Undoubtedly, this is a bold step.
Notable industries see promise in Titan Sesame’s mission. Google Ventures led Sesame’s recent funding round, which resulted in approximately $27 million in Series B funding. The Virgin Group also invests in startups in hopes of expanding its own portfolio into healthcare.
Indeed, with these big players backing startups, Sesame will certainly have support as it continues to expand, but there will also be bigger footsteps to fill in the coming days. However, if the company can actually find a way to make healthcare affordable and value-based for patients, it will disrupt the industry for generations to come.