Doerr said that tech companies can do to health care what Google co-founders Larry Page and Sergey Brin did to advertising, only at a much larger scale and with a much greater impact.
"I met Larry and Sergey in 1999 and they transformed advertising," Doerr said
TV ads historically were bought and sold over martini lunches on Madison Avenue in New York, and advertisers made their decision based on personal connections. Google's Ad Words replaced that method by introducing ways to target users and measure and track performance in real time.
"It propelled Google and the online industry to where today, where it's bigger than online television advertising," Doerr said.
He cited U.S. online advertising as a $75 billion industry, while health-care spending is $3.5 trillion, or "50 times bigger," he said.
To tap into health care, technology companies have to get access to data, which remains locked up and stored in formats that computers can't access or can't read. Big tech is aggressively working to address that problem.Amazon just released a service to help mine medical records, Alphabet is working with big hospitals to analyze health data to predict serious illness and Apple is looking to bring patient health information to the iPhone.
"My dream is to bring the efficiency of the ad words market to value-based care, to the health care markets," Doerr said. "It'll be harder because the data is literally incarcerated."
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