In the healthcare industry, there are a lot of inconveniences that can inhibit the speed of treatment and care. One of these hindrances includes the repeated trips to brick and mortar facilities. First the provider ordering labs, then the laboratory collecting the labs, providers giving diagnosis, up to the pharmacy giving medication, that is four brick and mortar trips that leave room for increased noncompliance. In fact about 42% of medical appointments have no-shows which in turn results in $150 billion per year of lost revenue.
On top of this is the necessity of laboratory testing. About 70% of medical conditions require lab tests, but 30% of patients continue to skip necessary lab orders and remain undiagnosed and untreated. Of course, with the ongoing Covid-19 pandemic, Telehealth has emerged as a more convenient and safe option for many. However, although it’s nice to be in your pajamas for your doctor’s appointments, telehealth is bounded and limited to only treating simple health issues such as birth control, hair loss, acid reflux etc.
Founded in 2018, Getlabs is the technological and medical infrastructure that brings healthcare to patients eliminating inconveniences, beginning with at-home lab appointments. With its incredible user interface, Getlabs first makes it extremely smooth to schedule an at-home lab appointment. After booking, a certified professional phlebotomist draws your blood which then gets processed at Labcorp or Quest Diagnostics. By taking advantage of Getlab’s infrastructure and API, telehealth can now give full primary care for complex conditions without the difficulties of brick and mortar trips. This includes telehealth visits with digital providers, then at-home tests performed by Getlabs, then digital pharmacy prescriptions such as Getlabs partner Alto Pharmacy.
What makes Getlabs so revolutionary is its uncapped potential for technology to finally provide maximum efficiency of healthcare. Getlabs differentiates themselves by not only providing the infrastructure and interface, but also the specialists and personal care. Aside from also being more affordable than their competitors, Getlabs quality of diagnostics is industry-leading, with a 0.3% specimen failure rate across the diagnostic industry, compared to third party with a greater than 10% failure rate, and self testing which has a greater than 30% fail rate.
We here at Linden3 are very excited about this partnership because of their promising future. As the company’s infrastructure grows, it unlocks the opportunity for other possibilities of vaccines, blood donations, genetic testing, clinical trials and more. We also are thrilled to be part of the Getlabs team not only because of their ambitious expansion plan but because of their compassion and attention to making sure their patients get the best care. With their specialists going through multistep safety checks, hospitality and wellness training, and caring personalities, it is clear to us that Getlabs cares more about their patients than anything else.