Blue Shield of California Chief Innovation Officer spoke with Tech Crunch's Jonathan Shieber about the company's strategic investments in startups, the acceleration of entrepreneurial activity in health care, and transformational innovation.
Increasingly, startups have a role to play in that revisioning of health care services in America, according to Semenchuk. “What I would say has happened over the last two years is that we have really focused on transformational innovation,” he added.
For Blue Shield, the work with startups allows the insurance provider to influence how these startups navigate health care in ways that are mutually beneficially, according to the insurer’s CIO.
“It gives us deeper access and influence as these new capabilities are being created, increasingly, by early stage companies. [And] it gives us a chance to influence the direction that they go,” Semenchuk said. “A lot of these companies don’t have the deep expertise that Blue Shield has.”
Read the full Tech Cruch story, How $20 billion health care behemoth Blue Shield of California sees startups.