“Making something hard look easy is really hard. ”

 

The ecommerce world has gone through many evolutions, but there are certain industries that still remain woefully in the analog world. Healthcare is one of them, but Eric Kinariwala, CEO of Capsule, says that won’t be the case for long. Capsule has built an entirely new, digital-first way to make better decisions surrounding your health, and Eric says that was just the first step. Hear what’s next on this episode.

Key Insights

 

Why did it take so long to change healthcare?

The simple answer is it takes trust. But how do you build trust? Trust is built over time and through repeated positive interactions. People had to first become comfortable with the digital world. They needed to feel confident shopping in a different way, communicating in a different way, and then, ultimately, interacting with healthcare providers in a different, digital-first way. Now that we have reached that point, disruption is possible. 

“There’s a natural progression for when the consumer was ready to adopt something like this.”

Are we entering the third wave of ecommerce?

Ecommerce has evolved over the last 20 years. We have gone from basic online stores to new ways to communicate, interact with, and experience brands all online. But there are certain areas and industries that are still on the outskirts: real estate, financial services, and healthcare. As we move forward, these industries will be able to take advantage of the digital world more and more, but only through understanding and working to ease regulations, and then also finding the balance consumers want and need between automation and human interaction.

Where will automation play a role and how will humans blend with technology?

There is no doubt that automation and technology will play a role in helping to bring needed change to industries that are falling behind in the digital world. With healthcare, technology can be put to work for much of the backend work of filing and data management, but it will also be important to use A.I. for things like reading scans and doing certain diagnostic work at a faster pace. But technology will still be only in the background for much of the healthcare experience, which is intimate and needs a human touch more often than not.

“You want an algorithm telling you if you have diabetes and you want a warm kind human telling you what to do about it.”

About the Guest:

“Eric Kinariwala is the founder and CEO of Capsule, a technology business rebuilding the pharmacy industry from the inside out with an emotionally resonant brand, and technology that enables customized outcomes for doctors, hospitals, insurers, and manufacturers.

Prior to founding Capsule, Eric invested in global healthcare, technology, and retail companies as part of the investment teams at Bain Capital and Perry Capital. He received his undergraduate degree as a University Scholar at the University of Pennsylvania’s Wharton School and earned his MBA from Stanford Graduate School of Business, where he held the position of Chief Investment Officer of GSB Endowment Student Investment Trust.”

Up Next in Commerce is brought to you by Salesforce Commerce Cloud. Learn more at salesforce.com/commerce 

Mission.org is a media studio producing content for world-class clients. Learn more at mision.org.