There's a little-known club that matches healthcare startups with companies looking at new ways to provide healthcare benefits to their employees.
But Riff also found he was spending too much time talking with startups, vetting them, and refining their ideas into feasible benefits for Target. Riff left Target in 2014 to join Optum, where he worked for about 2 years. In 2016, he hired Michael Laquere, a fellow former Target benefits employee, as EHIR CEO. Riff later worked as CEO of diabetes company Onduo from 2016 to June 2020.Healthcare startups that participated in EHIR told Business Insider the program accelerated their success, helping them land big clients and grow their companies.
Business Insider spoke with half a dozen employers and healthcare companies that have participated in the program, who described the organization as a "private club" and matchmaking service. EHIR serves as a neutral facilitator, charging a fee for the startups to present, but otherwise not taking a vested interest in promoting the companies.
The venue for the "Shark Tank"-style pitches changes from session to session. Instead of renting conference spaces, the companies take turns hosting. In the early days, it was a way for EHIR to save money, Riff said. "It allows us to get out of this constant vendor harassment that occurs in the marketplace," King said.
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