Venrock’s 10th annual survey of healthcare insiders reveals they’re a pessimistic bunch lately, harboring cynicism about recent policy developments and the future of health tech IPOs, though views on AI were more of a mixed bag. Let’s break down the results.
But first, a bit about the survey. More than 200 leaders from all corners of healthcare shared their thoughts with Venrock. Some areas were better represented than others.
- Respondents skewed toward the private sector (28%), investing (20%), life sciences or pharma (16%), professional services (8%), and academia (7%).
Venrock loaded up the questionnaire with AI inquiries. Big picture: Insiders are becoming more comfortable with the tech, but remain mindful of its downsides.
- Trust in AI grew for 73% and fell for 2% (unclear who hurt them).
- Just 9% view AI as the most overrated trend in healthcare.
- HIPAA breaches (24%), harmful hallucinations (19%), and overspending on healthcare-specific platforms (28%) ranked highest among possible AI pitfalls.
- Most expect AI to create an costly arms race between payers and providers (63%) as each side rolls out bots specifically designed to argue with other bots.
Here’s another fun one: M&A targets. There’s no consensus on who will get snapped up next, but the industry seems confident it will be a big name in AI-powered services.
- OpenEvidence (21%), Komodo Health (18%), Abridge (14%), and Sword Health (11%) were the top answers out of 10 companies, but only after none of the above (46%).
So the hottest firms are going public? Nope — that’s one thing people can agree on.
- Only 3% think health tech IPOs will be back in style this year, with the rest split roughly down the middle between 2027 and 2028 or beyond.
- For those keeping score, 42% of last year’s respondents predicted a health tech firm would go public in the first half of 2026. Tumbleweeds…
In fairness, it’s hard to predict the future, especially with $1.15T in Medicaid cuts looming over everyone’s heads.
- Will they harm rural hospitals? Empty state coffers? Ruin MCOs? Strain blue-state safety net hospitals? Most checked all of the above (65%).
The Takeaway
Some of the smartest folks in healthcare think we’re heading toward a world of payer-provider bot wars, sluggish health tech IPOs, and brutal fallout from Medicaid cuts. Here’s to hoping Venrock’s survey missed the mark.
