It’s no secret that America’s healthcare system is broken.
Americans, on average, pay $6,720 per year in healthcare premiums alone. After that, they must deal with copays, mandatory out-of-pocket minimums and dozens of other expenses. And even people who are insured can end up with a costly surgery that saddles them with debt for life.
But a number of startups and industry titans are working to disrupt the industry to make healthcare more affordable. While there isn’t a clear answer, a number of companies are chipping away at issues in the healthcare industry.
Even something as basic as a bare-bones wheelchair could run someone as much as $5,000. Basic wheelchairs lack tons of vital features, and their prices are inflated because of a broken, exploitative system.
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Hundreds of startups are solving similar issues in the healthcare industry on a single-item basis. From robots that can perform surgery to help increase volume and reduce costs to the growing prominence of telehealth, the $800 billion U.S. healthcare industry is packed with innovation and disruptors.
On a larger scale, industry titans like Amazon.com Inc. (NASDAQ:AMZN) and billionaire entrepreneur Mark Cuban have begun taking on the U.S. pharmaceutical industry. These two industry titans both recently launched pharmacies with generic drugs at rock-bottom prices.
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