Andrew Dudum, Hims & Hers, on disrupting healthcare by reimagining the patient experience
On a recent episode of Wharton Digital Health’s The Pulse podcast, Hims & Hers Founder and CEO Andrew Dudum discussed a wide range of topics including how Hims & Hers disrupted the $4 trillion healthcare industry by creating a telehealth tool that makes Americans’ medical care more affordable, more accessible, and higher quality while building a brand consumers love.
Dudum comes from a family of entrepreneurs and began his own entrepreneurial journey while he was still in high school. With a desire to disrupt an established industry, he found a match in healthcare, a huge market that has operated in much the same way for decades. The mission of improving healthcare outcomes combined with the excitement of shaping an enormous industry propelled Dudum’s interest in starting Hims & Hers.
The company first started out as Hims, a company targeted at de-stigmatizing sensitive health issues for men such as erectile dysfunction and hair loss. Later, Hims added a platform called Hers to address health concerns for women. The joint company was named Hims & Hers.
Today, Hims & Hers offers access to specialists, treatments, and medications across an array of medical concerns including mental health, primary care, dermatology, and sexual health.
Dudum said he was intentional about creating a brand that would resonate with people in a way that traditional healthcare has not. Traditional healthcare has a standard set of impersonal options for healthcare, he says, while Hims & Hers is aimed at curating an individualized experience for patients to conveniently access quality care in a personal way. He did this through creative packaging, as well as advertisements featuring celebrities including J.Lo and Snoop Dogg, a sleek website, and a catchy social media presence.
Building trust and credibility with consumers is core to creating a viable healthcare offering, Dudum said. Rather than advertising its physician credentials and FDA approvals, Hims (which, Dudum says, hires equally qualified physicians) has chosen to emphasize its focus on delivering effective products and services to earn consumer trust.
Taking Hims & Hers public has been one of Dudum’s goals, given its high margins, rapid growth, slow “burn rate,” and unique product-market fit. The company is going public through a merger with special purpose acquisition company Oaktree Acquisition Corp., and Dudum believes the IPO will fuel the momentum Hims & Hers has already built as it continues to work toward its vision of becoming “the trusted brand for quality, affordable, and accessible healthcare treatments for all.”
Listen to the podcast here.