Over the last decade, the number of drug candidates entering development has doubled, yet the number of successful drug approvals remains flat at ~50 per year.

This week, we sit down with Formation Bio founder and CEO Ben Liu. His company has raised more than $600 million to build what he hopes will become the first new enduring pharmaceutical company in decades, powered by AI. Ben explains why he believes clinical development, not drug discovery, is becoming the industry's biggest bottleneck, and how AI could fundamentally change the economics of bringing new medicines to patients.

They built a $1.2 billion healthcare AI company in under three years, but they say the hardest part of healthcare AI isn't the AI.

This week, Halle sits down with Assort Health co-founders and co-CEOs Jeffery Liu and Jon Wang, whose company reached a $1.2 billion valuation in under three years. They discuss why building great healthcare AI takes far more than good models, how they scaled from 15 employees to nearly 250 in a year, and what they've learned from more than 190 million patient interactions. They also share why voice AI is harder than it looks, how they're thinking about building durable moats in the age of foundation models, and why helping patients navigate the healthcare system may be one of AI's biggest opportunities.

Autonomous vehicles may be the closest real-world example of AI operating in life-and-death situations at scale. Justin Norden believes healthcare has a lot to learn from how that industry approached safety, testing, adoption, and trust. 

This week, Michael and Halle sit down with the founder and CEO of Qualified Health, fresh off the company’s $125 million Series B, to discuss why healthcare organizations need to think differently about deploying AI. Justin shares how his experience at Stanford, Apple, Waymo, and in healthcare investing shaped his view that health systems need AI infrastructure, governance, and workforce buy-in, not just another point solution.

This week, Halle and Michael sit down for a special in-person listener Q&A to answer a range of founder questions you submitted.

Breakthrough blood tests that can flag dozens of cancers before symptoms appear are gaining momentum, yet questions remain about accuracy, equity, and how these tools will fit into routine care.

In this episode, Steve talks with Helmy Eltoukhy, co-founder and co-CEO of Guardant Health, a $14 billion publicly-traded precision oncology company. The conversation explores the science behind cell-free DNA, the rise of blood-based cancer screening, and the broader shift toward data-driven diagnostics.

When Eric Lefkofsky’s wife was diagnosed with breast cancer, it exposed how little technology and data were shaping cancer care, pushing the serial entrepreneur to build a different model.

Lefkofsky is the founder and CEO of Tempus, now a $10B publicy traded health tech company, and previously founded Groupon. At Tempus, he’s building a tech-first company applying multimodal data and AI to make diagnostics smarter and treatment decisions more tailored, starting in oncology and expanding across disease areas.

It has been said that we don’t have “big data” in healthcare, but instead a large amount of “small data.”

In this episode, Halle speaks with Kyle Armbrester, CEO of Datavant and former CEO of Signify Health (acquired for $8B), about why healthcare data still moves the way it did decades ago and what it will take to modernize it at scale. Kyle reflects on building and leading large health tech companies and explains how fixing data flow could reduce administrative waste, improve security, and make care easier for patients and providers alike.

On the heels of raising $210 million at a $3.5 billion valuation, OpenEvidence is the fastest-growing physician app in history, now reaching over 40% of U.S. physicians and powers 17 million monthly clinical queries.

Most people spend over 30 hours a year dealing with customer service—on hold, repeating account numbers, and navigating endless phone trees. But what if AI could fix that without losing the human touch?

This milestone 200th!!! episode of The Heart of Healthcare Podcast features none other than Dr. Tom X. Lee, the serial physician-founder behind Epocrates (acquired for $293M), One Medical (acquired by Amazon for $3.9B), and now Galileo, a tech-enabled medical group aiming to rewire care delivery from the ground up.

Hospitals are under immense pressure: burned-out clinicians, outdated systems, and rising costs have made delivering care harder than ever. 

Three simple questions plague every American seeking healthcare: Where should I go? When can I be seen? And how much will it cost me? Despite seeming basic, these questions have remained largely unanswerable—until now.

Fresh off a $240 million fundraise from Oak HC/FT and A16Z, Ambience Healthcare is on a mission to kill medical billing — and build “Iron Man suits for doctors.”

When Andrew Lacy launched Prenuvo, most of the medical establishment dismissed it as fringe. Now, some of those same skeptics are collaborating with him on research.

In their first podcast since going public, Omada Health CEO Sean Duffy joins us to reflect on the journey to bend the curve of chronic disease.

What does one do after selling their company to Amazon for $1 billion? Start a new one, of course.

Most AI in healthcare promises superintelligence—but what if that’s the wrong goal entirely?

Each year, 2 million Americans are diagnosed with cancer and face a fragmented, overwhelming healthcare system with minimal guidance between doctor visits, even as they make life-altering decisions.

In this episode, we talk with Mario Schlosser, co-founder and CTO of Oscar Health, about building a tech-first health insurance company in an industry notorious for poor customer experiences.

From law school to leading one of healthcare's most successful value-based care companies, Oak Street Health co-founder Mike Pykos shares the story of building, scaling, and ultimately selling his company to CVS for $11 billion.

He reveals the challenges of scaling a new care model, the importance of focusing on outcomes over financials, and what it takes to transform American healthcare.