I’m your prototypical product person. After cutting my teeth at ICQ, which is arguably the first successful social network company, I’ve continued my path of monetizing data at scale by leveraging technology and my business acumen. And what better domain to excel at monetizing data through technology? That’s right, online advertising. I have spent a better part of a decade working for companies like Dotomi (now part of Alliance Data Systems Corporation), Facebook, and others. I’ve learned how to convert data into money.
The birth of my second daughter, Aya, made me question my career choices and take a deep look at how I’m spending my time. Do I really want to continue and optimize the way people purchase more stuff they don’t need? Or should I spend my time helping people? Make the world a better place and all that.
So there I was. A product person, looking to make the world a better place. Where should I start?
The Impact
I was looking for a big problem to solve, where the total addressable market is substantial, and the ability to drive positive outcomes is within reach, or doesn’t rely on technologies that have yet to be invented.
There were a few reasons that attracted me to healthcare.
- It’s a big problem: US healthcare spending grew to $3.3 trillion in annual health care costs, led by chronic conditions.
- 135 million American are living with chronic conditions.
- Today, chronic conditions are the leading cause of death and disability in America and the leading driver of healthcare costs.
Lastly, my personal affinity towards healthcare: My father is a medical doctor. He oversaw an internal medicine unit in a leading hospital in Israel, and as I child, I remember vividly the heated debates with his colleagues and friends about the state of health care back home. The impact of these was apparently profound, as all my siblings ended up in medical school and later specialized in Internal Medicine and Rheumatology, Obstetrics and Gynecology, and Plastic Surgery.
When I got the call from Livongo, I was delighted to see they’ve spent the first three years of their existence honing their products and services, and finding a strong product-market fit: It is hard to argue with 650+ clients, and 95% retention rate.
With proven clinical results, Livongo is able to demonstrate financial cost-reduction to its clients. Livongo’s members are getting healthier, which results in our clients paying less and less in health care costs.
The Culture
Every company’s culture is different. And yet, there are commonalities, especially in Silicon Valley. If I were to describe a culture which celebrates shipping products fast in order to fuel its massive growth, leapfrog its competition and increase its marketshare, I suspect you’ll know which company is the poster child of that culture. In a similar vein, if I were to describe a culture that celebrates its cut-throat approach to winning business, drivers and riders, I suspect you’ll know which company I’m talking about.
As you evaluate your next career move, it is important for you to map out your current core values (these might change over time) and find a company these aligns with.
Personally, earlier in my career, I suspect my competitive nature would thrive in a cut-throat environment. These days, I don’t need a stick to motivate me, nor am I looking to artificially introduce stress into my life in order get going. I’m motivated to be the best version of myself and make a positive impact in the world. I rather work with likeminded people.
What makes Livongo’s culture unique and appealing?
Its obsession with our customers, and with its members — the humans who actually need help managing their chronic conditions.
This obsession with customers and members led to a few innovations, that shaped out Livongo’s DNA:
When members are using their blood glucose meter a few times a day, they were paying for test strips. Removing that barrier, and supplying our members with unlimited test strips free of charge, increased how often members were testing their blood glucose levels. We’ve also learned that getting members’ data and acting on it can create positive outcomes. So we started building our own cellular-connected devices. Whether its a blood glucose meter, blood pressure monitor, or a scale- they are all cellular connected. If we see that your blood glucose level are low, we will notify you to drink a glass of orange juice and bring it back up to normal levels.
We have also learned that pairing a person with a chronic condition with a certified coach can yield positive outcomes. And so we’ve built out a national coaching team so we can provide unlimited coaching to our members.
Combined these, you realize you’ve got a unique organization. One that excels in building hardware devices. Excels in building personalized digital experiences at scale. One that is leveraging the knowledge of expert physicians. One that is powered by human coaches. One that is obsessed. Obsessed with its customers and its members.
Digital Health startups raised approximately $8.1 billion last year, according to venture fund Rock Health latest report, up from $5.7 billion the year before. As I said — U.S. health care spending is in the trillions.
What are you waiting for?
Come join me in our journey, as we help everyday people lead healthier lives.
Eitan Shay is the Director of Product Management at Livongo responsible for Livongo’s Member Experience platform and driving usage, retention, observability, and clinical improvement across Livongo’s member base.
