Omada Health’s Duffy Making the Right Moves
In his last visit with the Breaking Health Podcast, self-described “computer nerd” Sean Duffy, CEO and co-founder of Omada Health, explained why he dropped out of Harvard University’s joint MD/MBA program to co-found the digital therapeutic company.
Early reviews were positive; Omada raised its first $800,000 in seed funding when Duffy didn’t even know what venture capital was. Now, a broader sampling supports Omada’s vision. The company recently closed on a $50 million fundraising round led by global health services leader Cigna.
In this follow-up call with Breaking Health host Steve Krupa, Duffy says Omada is continuing to build a meaningful business helping people control their diabetes. The firm is currently the nation’s largest federally recognized provider of diabetes prevention programs with more than 45,000 enrolled patients.
Nearly 65% of Omada’s Prevent program participants remain engaged with the program at 12 months, and, on average, lost 4.7% of their body weight, more than the average 2.4% weight loss for in-person diabetes prevention programs.
Citing the steep learning curve, he recommends that other entrepreneurs make sure they understand how much grit and determination it takes to succeed. “You have to accept and even enjoy” the learning curve, Duffy says. Regarding his own experience, he acknowledges it’s been a lot of work and stress but he’s never been happier.
Duffy has been named to numerous top innovator lists and he is committed to paying it forward because so many people helped him along the way. He has served on Harvard Medical School’s entrepreneur panel and is often asked how to know whether to continue medical training or leave to focus on a start-up. Those who find themselves thinking about their business idea more than anything else should probably consider taking the plunge, he advises.