Can You Disrupt Healthcare?
This story is about Bright Health. It raised $2.4B to disrupt health insurance and even went public in June 2021. Today the company is worth $100M and leaving insurance.
The following are just comments from Twitter:
Risk pooling certainly played a large part as a sub-scale insurer. The constant RBC requirements were also probably more than public investors wanted to stomach. But Bright Health had super smart healthcare people as leadership and investors.
Back in July 2021, Goldman Sachs recommended Bright Health Group (NYSE:BHG) a STRONG BUY at $32 per share. Today it’s $0.16. In 2021, I saw countless articles claiming Bright Health was the future, setting the high bar for any insurer startups.
It was a shit insurance that nobody wanted to accept
Health insurance is a very very low margin business, you’ll never see tech industry-like returns from it
The article above breaks down this turd even more. I am just amazed how the public can get conned by the “smart people in healthcare”.
I await your thoughts.
How come the “smart people in healthcare” never seem to have boots on the ground?
Everything is a business model stocks , bonds, tech ,auto, medicine, pharmacy,government, war, marriage. Let The Buyer Beware. Investing in insurance, see what Warren Buffet is investing in.If he buys it You will make money, as he has for 50 or 60 years..If they are hyping it that means its pump it up and dump it. Avoid it. They are Always Out to Get You. …
Good Luck and Good Hunting.. We are ALL GOING TO NEED THAT..
I took bright insurance. It was a nightmare to get a referral through – extreme low tech very time consuming and once you slogged through the paperwork there was no specialists to choose. They pulled out of Texas. Good riddance.
This reminds me of a quote by Richard Branson. He was once asked how to become a millionaire. He said, “Start with a billion dollars and start an airline.”