John Sculley, former ceo of Apple and Pepsi, said there has never been a better time to invest in startups, especially the ones trying to modernize the $3 trillion dollar U.S. health care industry.
"My advice is to first ignore everything the politicians, lawyers and lobbyists have to say about health care. Real innovation and solutions will happen from the private sector and entrepreneurs who will reinvent how health care is delivered and make the industry more affordable," Sculley told CNBC's "Power Lunch" on Friday.
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Among the dozens of startups Sculley is actively involved with is RxAdvance, the first cloud-based pharmacy benefit management platform. The company is headquartered in Southborough, MA.
"Pharmaceuticals are a $300 billion industry and growing. RxAdvance removes antiquated health care inefficiencies. It also generates data around drug dosage, drug therapy plans, interaction between specialists, and workflow between doctors, pharmacy, and the lab, for better holistic predictions and outcomes," he said.
Another startup Sculley is involved with is Florida-based MDLIVE, which enables patients to have mobile video conference consultations with their doctors rather than in-person doctor appointments.
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"MDLIVE has partnerships with 600 hospitals, has 11 million covered lives at self-insured employers and has a major strategic relationship with Walgreens," said Sculley.
"There are so many exciting innovations happening in the digital health care space," said Sculley. "Each one has the potential to bring hospitals and providers to the next level of efficiency. It's a very exciting time to be an investor and entrepreneur right now."
Stefanie Kratter contributed to this article