Consistent with this trend, there have been a number of joint ventures announced between health systems and health plans. This blog post examines one aspect of this Payor/Provider Convergence – payor/provider joint ventures to operate health plans.Ī recent study by McKinsey & Company recites that as of 2015 “13% of all US health systems offer health plans in one or more markets – commercial, Medicare Advantage (MA), or managed Medicaid,” with provider-led plans representing a higher percentage (23%) of the Medicaid Market. Health plans have also moved into the health care provider business by acquiring hospitals, surgery centers, medical groups, and other providers. Health systems have ventured into the health insurance business by acquiring or starting their own health plans and by establishing joint ventures with payors, to jointly own and operate a health plan. This payor/provider convergence has taken different forms. The UK recently followed the US in upping its oversight of the crypto industry by changing the rules around the marketing of coins and other products.Health Plans and health care providers are getting into each other’s business. The UK has recorded a 57% drop in funding year-on-year in the first half of 2023, per Atomico. However, investment in European tech has slumped after an initial frothy period for US firms during the pandemic. Silicon Valley funds like Sequoia, General Catalyst, Bessemer, Lightspeed Venture Partners, and family office Iconiq Capital set up in London in a bid to invest more into European tech.
The fund's move comes after years of transatlantic activity from major US venture firms. The investing giant, which has a $4.5 billion dedicated crypto fund, also announced that it will operate a Crypto Summer School from London in Spring 2024. "While there's still work to do, I'm determined to unlock opportunities for this technology and turn the UK into the world's Web3 center." "That success is founded on having the right regulation and guardrails in place to protect consumers and foster innovation," he said. Sunak said that the UK had to "embrace new technologies like Web3" to secure its place as a science and tech superpower. "UK authorities are also willing to work with the industry to create policies that incentivize startups to pursue decentralization."
"We have been working with policymakers and regulators across the globe, and during our discussions it has become clear that the UK government sees the promise of Web3, with Prime Minister Rishi Sunak suggesting the UK can become a hub of Web3 innovation," Dixon said. The UK has repeatedly claimed its ambitions to be a hospitable home for cryptocurrency and blockchain businesses, despite the city's poor recent listings record and fears that its status as Europe's financial and tech capital could be under threat. "Today there are tens of thousands of crypto developers, but the numbers are growing fast and we expect to see one million developers by 2030," he said. Startups in the sector raised $2.6 billion across 353 deals in the opening three months of the year, a 78% annual decline, according to PitchBook data.Īndreessen general partner Chris Dixon said that crypto was still in its "early innings" and that technology takes "decades to develop," in a blog post announcing the London office. Meanwhile, venture capital funding to crypto companies has collapsed over the past year. In recent weeks the Securities and Exchange Commission (SEC) has taken aim at leading crypto exchanges Coinbase and Binance for alleged violations of securities laws. The famed tech investor, which has backed the likes of Twitter, Facebook, and Stripe, said that strong regulation was required to dispel the "casino culture" that had developed around crypto.Īndreessen Horowitz's move comes as US regulators continue a crackdown on the emerging technology. The new office, due to open later this year will be led by general partner Sriram Krishnan and will be dedicated to expanding the crypto and startup ecosystem in both the UK and Europe. Venture capital giant Andreessen Horowitz is set to open its first office outside of the US in London as it bets on the British government to become a leader in crypto regulation.
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