XP Health is a digital-first vision platform focused on eye exams and eyewear, using customer-centric design and technology to make high-quality vision care more affordable, accessible, and provide a better member experience. Pulse 2.0 interviewed XP Health CEO and co-founder Antonio Moraes to learn more about the company.
Antonio Moraes’ Background
What is Antonio Moraes’ background? Moraes said:
“The key turning point in my life happened when I found my purpose when I was 17. I spent a month in Rome at a spiritual retreat and had a deep moment of clarity of purpose, realizing I was supposed to do something that could have a real impact to people’s lives. ”
“Since then, my life and career focus has been focused on that objective. Before XP Health, I co-founded Vox Capital, a venture capital impact investing firm that became a Harvard Business School case study, and co-authored and co-produced “A New Capitalism”, an international feature-length documentary available in 190 countries on Netflix, Amazon Prime, and Google Play.”
Formation Of XP Health
How did the idea for XP Health come together? Moraes shared:
“My co-founder, James Wong, and I were doing our master’s at Stanford and took an entrepreneurship class in which we interviewed 120 people to understand their vision needs. It became clear that the vision industry hasn’t seen much innovation in 20 years.”
“I became obsessed with the idea of how we could use artificial intelligence to impact one billion people. Then, the real vision came next, influenced by my childhood torment. Growing up in Brazil, I was bullied and teased about my glasses, nicknamed Antonio Antoculus (“glasses”) or ‘Antonio 4-eyes’ due to my thick, clunky prescription glasses. It motivated me to reinvent how vision care is delivered in the world.”
Favorite Memory
What has been Moraes’ favorite memory working for the company so far? Moraes reflected:
“Driving with James a box truck with $50k of ophthalmic equipment from the San Francisco Bay Area all the way to Vegas for an HR Conference, where we landed our very first client.”
Core Products
What are the company’s core products and features? Moraes explained:
“XP Health’s core product is a modern digital-first vision care solution offered to employers and insurance carriers. Our solution improves member satisfaction by 70 NPS points while reducing costs by 70%.”
Challenges Faced
What challenges have Moraes and the team faced in building the company? Moraes acknowledged:
“Entrepreneurship is one of the hardest sports out there. I have a consistent meditation practice that helps me get through the toughest situations.”
Evolution Of XP Health’s Technology
How has the company’s technology evolved since launching? Moraes noted:
“XP Health operates like a typical Silicon Valley technology company, launching new features every two weeks. We’re primarily focused on AI applications that can continue to enhance our members’ experience taking care of their eye health.”
Significant Milestones
What have been some of the company’s most significant milestones? Moraes cited:
“About three years ago XP Health had 10k members. That number grew to over 400k members today.”
“Our vision programs have seen rapid growth in the few years since launching our platform, expanding from 30 to over 3000 business customers, including DocuSign, Navistar, Chegg, Sequoia Consulting, and strategic partners like The Guardian Life Insurance Company of America.”
Customer Success Stories
When asking Moraes about customer success stories, he referred to the company’s customer success stories website.
Total Addressable Market
What total addressable market (TAM) size is the company pursuing? Moraes assessed;
“A substantial portion of the $40 billion dollar vision care market in the U.S. market is in play, and XP Health seeks to grab it.”
Differentiation From The Competition
What differentiates the company from its competition? Moraes affirmed:
“70 points higher NPS and 70% lower cost, using great technology.”
Future Company Goals
“Impacting one billion lives in the long term.”
Additional Thoughts
Any other topics you would like to discuss? Moraes concluded:
“Vision coverage has remained static, complicated, expensive, and unsatisfying for decades. An estimated 93 million adults in the United States (about 25% of the population) are at high risk for serious vision loss, but only half visited an eye doctor in the past 12 months.”
“XP Health (www.xphealth.co) modernizes access to high-quality, delightful experiences in vision care that double coverage and reduce costs to payors, employers, and employees. It is the first digital-first vision platform focused on eye exams and eyewear that can be built into existing vision plans or offered as a standalone package, and uses artificial intelligence, augmented reality, and customer-centric design to create a stellar member experience as evidenced by a NPS score of 72.”
