We underwrite risk.
Then we change it

Some of the most durable compounders of the AI era will be built in healthcare. Unlike many areas of the economy, healthcare has structural advantages that technology alone cannot easily replicate: state licensure and accreditation, relationships and contracts with health plans, access to patient data, a physical footprint in local communities, and, above all, trust. Those assets create a durable foundation for the value created by better technology to accrue to the provider rather than being competed away.

Historically, the limiting factor in care delivery has been the cost of actually delivering care. AI changes that equation. By dramatically lowering the cost of operating and coordinating care, it creates an opportunity to make care delivery economically viable for populations that have historically been too expensive to serve. For providers that bear responsibility for total cost of care, those efficiencies can translate directly into better economics. The business of Baba is underwriting risk and then changing it for the better. That work is as much probability theory as it is population health and a deep understanding of human behavior.

The result is a much larger addressable market for care. Do not dismiss the business of care delivery as abstract or purely altruistic. UnitedHealthcare is the fourth largest company in the world by revenue, a useful reminder of just how large and economically consequential this work can be when administered by sophisticated teams. Our opportunity is not simply to make existing care more efficient, but to extend high-quality services to people who have historically been left out because the economics did not work. That means better access and greater affordability, with hundreds of billions of dollars at stake for the teams that can unlock it.