Tag: Fred Goldstein

Unicornius Gorus: There’s More to the Theranos and Zenefits Story

flying cadeuciiA Correction to Unicornius Gorus – Theranos and Zenefits

I have a confession to make, my previous piece entitled Unicornius Gorus –Theranos and Zenefits, which identified these two companies as a new species in the Unicornius genus was not correct.

The problems at Theranos, as reported by John Carreyrou at the Wall Street Journal, just keep getting worse. While its now very clear Theranos has a serious problem with their Edison technology and its ability to produce accurate results, what is perhaps even more glaring is their complete disregard for operating a lab within standards.

Along with the measurement errors, the report by the Center for Medicare and Medicaid Services found Theranos:

  • used unqualified staff,
  • allowed unlicensed workers to review patient test results
  • did not properly operate equipment as per manufacturer recommendations,
  • lacked proper documentation and signatures and
  • failed to meet quality control standards.

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Unicornius Gorus – Theranos and Zenefits

The Lab test reinvented – Theranos

So I have to ask Theranos; which lab test have you reinvented?  Is it the one where you do a full blood draw and send it off to UCSF to pay way more than the amount you charged the patient?  Is there something in that business model I am not getting?  Or did you reach back to the old “I’ll make it up in volume” approach.

The Nation’s First Modern Benefits Broker – Zenefits

And you Zenefits, if your idea of “Modern Benefits Broker” is that they are not licensed to sell insurance, I think I’ll go for the pre-modern broker.Yes I know, I’ve heard it soooooo many times, all it takes is a bit of silicon valley whiz bang and the whole world will be better, take that unique bravado and creativity and apply it to healthcare, change the world.

Only one small problem; as Esther Dyson said at Health 2.0 many years ago and I’m paraphrasing from memory:

I’ll come back in two years and most of you won’t be here, why because you don’t understand healthcare.  You can build all the great systems you want, but if they don’t work in healthcare, because you don’t understand it, you’re done.

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