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Liana Guzmán, CEO of Folx, on the $400B market for LGBTQIA healthcare

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While the pandemic spotlighted and addressed existing weaknesses in the healthcare system, it also exposed many gaping issues of inequality, like the treatment of the LGBTQIA+ community. Liana Guzmán, CEO of Folx, discusses how its telehealthcare platform focuses on a major minority's specific needs, highlighting the demand for specialized care and sensitized medical personnel, among others. Driven by its purpose, learn about how it creates a product-market fit and also foresees a sizeable addressable market. Folx's work seeks to right the systemic and historical wrongs that the LGBTQIA+ community has endured.

Source: Source: A combination of data compiled on SPEEDA Edge.
See Folx's ranking in the EDGE100 report!

The following interview was conducted by Sacra — May, 2022

Background

Liana Guzmán is the CEO of Folx. We talked to Liana because Folx sits at the middle of two increasingly important trends: 1) the rise of telehealth providers that solve problems for specific identity-based groups, and 2) the rise of products and services focused on the LGBTQIA+ community, alongside products like Daylight (credit cards).

Questions

1. Can you talk about the problem you're solving at FOLX and the core use cases that drive adoption?
2. Can you talk about how you reach the initial product-market fit and give us any milestones as to where you are tracking towards that?
3. Can you talk to us about the history of healthcare for the LGBTQIA+ community and how it led to FOLX?
4. What are the current healthcare options for the LGBTQIA+ community, and how is FOLX better than it? What does FOLX usually replace for its patients?
5. Why do patients come to FOLX? Is it the convenience of virtual care, cost, the stigma associated with in-person consultations, or something else?
6. What are the key obstacles in scaling-up to all the states? Are there regulatory constraints regarding doctors’ presence or issues in the supply of qualified doctors?
7. How large do you think the market is for FOLX? How’s your view of the market size evolved as COVID started easing out and in-person doctor visits are picking up?
8. What are the TAM expansion opportunities you see for FOLX? Does it want to grow horizontally, covering more medical conditions for the LGBTQIA+ community, or become a vertical healthcare provider for them?
9. There’ve been some headwinds in the telehealth space, with Hims & Hers losing 60% of market cap post listing and Thirty Madison merging with NURX. In this context, how do you see the future for FOLX?

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