Remember when it felt like everyone and their dog was taking DNA tests? Well, those days are long gone. Take 23andMe, for example. After revolutionizing genetic testing and making it more accessible, the company has hit a wall. Between the class action lawsuit and the reality that most people only need one DNA test, 23andMe is losing money.
Here’s the thing… I actually think 23andMe has a huge opportunity to disrupt healthcare in a way that rivals what Mark Cuban is doing with Cost Plus Drugs.
To be fair, 23andMe has tried to evolve. They’ve dabbled in different services, but nothing has significantly increased revenue or left a lasting impact. But what if they made a bold pivot?
The Big Idea: A Holistic Healthcare Marketplace
Imagine if 23andMe became more than just a genetic testing company. What if they transformed into a holistic healthcare platform, offering DNA testing, affordable medications, and access to a curated network of healthcare professionals, including doctors, nutritionists, therapists, and more?
By combining personalized genetic data with real, actionable healthcare solutions, 23andMe could go from being a novelty to a necessity. Instead of just giving people insight into their genes, they could provide affordable, tailored treatments and ongoing, hands-on support—creating an all-in-one solution for proactive health management.
Before I get into my ideas for 23andMe, let’s address a big concern: data privacy.
Since 23andMe already had a data breach, ensuring the security of their users’ information is critical. This likely means implementing a multi-layered security approach, constant monitoring, etc. For any company dealing with sensitive data, building and maintaining trust through strong security measures is absolutely essential for long-term success.
Now, let’s dive into how 23andMe could shake up the healthcare world:
1. Personalized Health Solutions
What They Could Do: Use genetic data to create customized wellness plans. Customers would also have access to a network of top-rated professionals—from therapists and fitness trainers to doctors and nutritionists—who could provide support for their specific needs. For example, if your genetic data shows a family history of heart disease, you could schedule a consultation with a doctor who specializes in cardiology. By combining genetic data with real, actionable support, users would not only get insights into their health risks but also access to experts who could help mitigate those risks and enhance overall wellness.
Why It Works: Instead of being a one-and-done service, 23andMe would become a lifestyle platform, encouraging users to return for updates, insights, and professional support as their health needs evolve.
Revenue Potential: Subscription-based plans for ongoing health management. Pay-per-use or à la carte services could also be an option, such as consultations, wellness/fitness products, etc.
2. Affordable Medications & Supplements
What They Could Do: Follow Mark Cuban’s lead and launch a direct-to-consumer pharmacy offering affordable, personalized medications based on genetic predispositions.
Why It Works: In the U.S., healthcare expenses, including prescription drugs, can be one of the largest financial burdens for individuals and families. 23andMe could play a transformative role in offering affordable options for common conditions like diabetes, high cholesterol, or even genetic-based disorders. And with a platform that offers testing and ongoing care, the company could simplify access to medications through their own system, eliminating the need for multiple appointments, prescriptions, or insurance headaches.
Revenue Potential: Direct-to-consumer medication sales and partnerships with insurance companies
3. Partnerships with Healthcare Providers
What They Could Do: Team up with insurance companies, hospitals, and clinics to integrate genetic testing into routine healthcare and preventative medicine. Insurance providers may also be willing to pay to incorporate 23andMe’s insights into their health programs. With this data, insurance companies could provide customers with effective treatment solutions that reduce chronic disease progression, instead of using trial and error for treatments, which often results in high healthcare costs and ineffective solutions.
Why It Works: This would turn genetic testing into a regular part of healthcare rather than something people try once for curiosity, making 23andMe indispensable to both consumers and providers.
Revenue Potential: Healthcare deals and partnerships that make 23andMe a core part of patient care
The Bottom Line
Right now, 23andMe is sitting on a goldmine of genetic data, but information alone isn’t enough. If they shift from telling people about their health risks to actually helping them manage those risks, they could revolutionize the industry. DNA testing was just the beginning. The real opportunity? Becoming the go-to hub for affordable, personalized healthcare. Sure, this sounds pretty ambitious, but anything is possible, right?
Photo Credits:
- Photo #1 by CDC on Unsplash
- Photo #2 by Natali Hordiiuk on Unsplash