Last week, Oscar Health announced its upcoming IPO, making it the latest in a string of digital health companies going public (including 23andMe, Talkspace, and Hims). Founded in 2012, Oscar’s mission is to be a new kind of health insurer, one that is consumer-centric and enabled by technology. The company has raised
Scott, I appreciate how this article connects the dots from various sources to form a comprehensive picture of what Oscar really is, its actual operational standing and what else we should know about it.
It also touches on my personal interest in the insurance market for the hearing loss population, especially in developing economies. I am a user of cochlear implant since age 2 (1997). The cost of surgery (app. USD25k) and device upgrade (USD10k, every 5-6 years) have been entirely out-of-pocket for me. Because the insurance here in Malaysia, unlike in the US, does not cover cochlear implant. I learnt that Australia launched NDIS (National Disability Insurance Scheme) in 2020. That sounds like a great news but I’m also aware that’s a capital-intensive matter.
The affordability of cochlear implant in developing countries has been an area I’m keenly interested in. I’d really like to hear your opinions or general thoughts about this.
P.s. I'm not sure if/how I'll be notified of a response from you. I don't use Substack, except for reading your articles. If you think this is something worth discussing, I'd look forward to your response in my mailbox: teelepeng@gmail.com
Hey Peng - thanks for the comment and great to hear from you! I can't say I am too familiar with Malaysia's healthcare system, though it certainly sounds like you've had to endure quite a big financial burden for cochlear implants over the years.
From my quick research, it looks like in the US, cochlear implants are typically covered under medical insurance, both by public (Medicare / Medicaid) and private payers. Coverage requires the patient or doctor to demonstrate that the implant was "medically necessary", which I suspect is an important detail here. As a comparison, hearing aids, which are often not medically necessary, are not generally covered under medical insurance.
In the absence of a comprehensive, national health insurance system, patients may have to look to supplemental plans to be able to offset these types of costs. I'm not sure if this is an option in Malaysia, but in the US we have supplemental plans for things like vision, dental, and hearing procedures.
Supplemental plans would be something I want to look into. Just want to say thank you for your continued knowledge sharing. It's been nourishing and satisfying to read your sharing.
Btw, also want to let you know I just noticed that most of the emails from Substack went into the Promotion folder (instead of appearing directly in the inbox) of my gmail account. I had to intentionally look up the Promotion folder to access these emails from Substack. Just letting you know since you as the author may be immediately aware how things are for the end users' side.
Scott, I appreciate how this article connects the dots from various sources to form a comprehensive picture of what Oscar really is, its actual operational standing and what else we should know about it.
It also touches on my personal interest in the insurance market for the hearing loss population, especially in developing economies. I am a user of cochlear implant since age 2 (1997). The cost of surgery (app. USD25k) and device upgrade (USD10k, every 5-6 years) have been entirely out-of-pocket for me. Because the insurance here in Malaysia, unlike in the US, does not cover cochlear implant. I learnt that Australia launched NDIS (National Disability Insurance Scheme) in 2020. That sounds like a great news but I’m also aware that’s a capital-intensive matter.
The affordability of cochlear implant in developing countries has been an area I’m keenly interested in. I’d really like to hear your opinions or general thoughts about this.
P.s. I'm not sure if/how I'll be notified of a response from you. I don't use Substack, except for reading your articles. If you think this is something worth discussing, I'd look forward to your response in my mailbox: teelepeng@gmail.com
Best,
Peng from HPAIR 2018 Kuala Lumpur
Hey Peng - thanks for the comment and great to hear from you! I can't say I am too familiar with Malaysia's healthcare system, though it certainly sounds like you've had to endure quite a big financial burden for cochlear implants over the years.
From my quick research, it looks like in the US, cochlear implants are typically covered under medical insurance, both by public (Medicare / Medicaid) and private payers. Coverage requires the patient or doctor to demonstrate that the implant was "medically necessary", which I suspect is an important detail here. As a comparison, hearing aids, which are often not medically necessary, are not generally covered under medical insurance.
In the absence of a comprehensive, national health insurance system, patients may have to look to supplemental plans to be able to offset these types of costs. I'm not sure if this is an option in Malaysia, but in the US we have supplemental plans for things like vision, dental, and hearing procedures.
Supplemental plans would be something I want to look into. Just want to say thank you for your continued knowledge sharing. It's been nourishing and satisfying to read your sharing.
Thanks Peng!
Btw, also want to let you know I just noticed that most of the emails from Substack went into the Promotion folder (instead of appearing directly in the inbox) of my gmail account. I had to intentionally look up the Promotion folder to access these emails from Substack. Just letting you know since you as the author may be immediately aware how things are for the end users' side.