What Is Sesame? Tell Us About What You Do What Your Mission Is.

Sesame is a direct-to-patient healthcare company making quality care more accessible, affordable, and transparent. We offer a platform that connects patients and providers directly, separate from health insurance, to remove the middlemen that drive up costs. We’re then able to pass these savings onto our patients, who can save up to 60% on average. Our mission is to transform healthcare and consumer behaviors, putting the power back in the hands of patients and clinicians. 

What Is Your Background? What Led You To Start A Company In The Healthcare Space? 

I tragically lost my father in 2007 due to the incompetencies of the healthcare system. From that experience, I realized that the patient isn’t the customer for healthcare services—employers and insurance companies are.

After years of research and publishing several best-selling books on healthcare reform, I connected with Dr. Michael Botta, health economist who spent most of his career in the health care practice of McKinsey and Company and worked closely on the Affordable Care Act, and John Fontein, a marketplace tech and financial expert, to create a company that would solve these inefficiencies. 

There is an increasing class of people with high deductibles that get a better deal by paying out of pocket and those without insurance, and there is another growing class of doctors who have uncollected bills, less patients, and shrinking referral chains—we thought “what if we brought these two together in one marketplace.” That’s how Sesame was born.  

What Was The Inspiration Behind The Company Name?

We were determined to find a name that didn’t immediately make you think of healthcare, but a name that we could own and then associate with our unique approach to healthcare. Any name that had too close of a connection or connotation to healthcare would have people think we were the status quo versus a completely new way of doing things. We chose Sesame because it was easy, friendly and ownable—the way that we think healthcare should be.

What Have Been Both Your Favorite And Least-liked Parts Of Your Entrepreneurial Journey? What Have Been Your Most Challenging And Most Exciting Moments For You And The Company?

It’s incredibly rewarding to work with a talented team of people you’ve assembled to address a major societal problem, and every day I’m inspired by their work and commitment.  Building a company from scratch isn’t easy, of course, but the obstacles all feel manageable compared to the extraordinary opportunity we’ve been given. 

Tell Us About Your Co-Founders And How Your Skills Complement Each Other.

With Dr. Michael Botta’s experience as a health economist and John Fontein’s expertise in marketplace tech and finance, we’re able to touch on the different aspects of the healthcare space.

What Was The Fundraising Process Like For You? Tell Us About Your Investors And What You Use The Money You’ve Raised For.

We raised capital from other like-minded founders and friends. To-date, we’ve raised 5M in seed funding and 19M in a Series A round led by General Catalyst. 

Anything Exciting That Will Be Launching Soon?

As we continue to be available nationwide via video appointments, we expect to be listed in all major cities in 2021.

How Has COVID-19 Impacted Sesame’s Growth And Operation Over The Last Year?

Issues with the healthcare system have been heightened due to COVID-19, with major strains on medical practices and millions of newly uninsured patients in 2020. As a result, we’ve launched Sesame video appointments to give providers a way to safely connect to patients virtually. Our platform allows patients to easily book COVID-19 tests and virtual screenings with trusted providers and labs, even without health insurance.

How Do You Think Your Industry Will Change Post-COVID?

The healthcare system is broken, and COVID-19 has only exacerbated existing issues. Health insurance and other middlemen have led to inefficiencies and confusion that have negatively impacted patients and providers, and we’re seeing this now with the rollout of the COVID-19 vaccination. 

At a time when millions of Americans have lost their employer-provided insurance and are looking for alternative, affordable healthcare options, Sesame is offering patients a straightforward way to gain access to care for everything—from a video doctor visit to an MRI or CT scan—at more affordable prices than they can find anywhere else.

What Are Your Daily Routines? Walk Us Through Your Typical Workday Schedule.

I don’t really have a typical schedule, and I’m temperamentally uncomfortable with routines.  Fortunately, I’ve reached the stage of my career where I can prevent myself from being over-scheduled.  So, I can make sure that every day, I have enough time to do the things essential to my role: read broadly, write a little, and have unstructured conversations with smart people.

What Is The Most Important Skill A Modern Day Entrepreneur Needs In Order To Be Successful? What Advice Do You Have For Entrepreneurs Who Are Just Starting Out?

To me, the most important skill is an ability to attract, motivate and reward talented people.  That means understanding that people are different and appreciating the unique needs, goals, and work styles of the individual members of your team are essential.  Beyond that, I’d say an entrepreneur needs to be comfortable with being wrong – often – and being to blame for what goes wrong even more often.

Tell Us A Story Of Something That Happened To You That Taught You An Important Lesson.

Twenty-three years ago, I met the fascinating woman who became my wife while waiting for the restroom in a bar.  I suppose if it happened today, one or both of us would be looking at our mobile.  I’d always rather talk to a stranger than stare at a screen.

If You Can Have A One-Hour Meeting With Someone Famous Who Is Alive, Who Would It Be And Why?

The real answer is LeBron James, but for your purposes, let’s say either Vaclav Smil or Tyler Cowen, two polymath writers who eschew comfortable and conventional thinking as a matter of course.

What Does Success Mean To You?

Sesame ‘s goal is to transform the health care experience for those disenfranchised by our high-cost, complex insurance system.  We’d like to see patients access high-value care at reasonable prices, with the type of standards of ease-of-use, transparency, quality accountability, and customer service we’re used to in the general consumer economy.  Accomplishing any part of our mission will help millions of Americans deal with a major problem they face today.  That’s what success looks like for us.