At its peak during segregation, Black America had over 500 black-owned and/or led hospitals. Today, only a handful. With the integration of hospitals after the Civil Rights Act of 1964, many closed. Most data shows that the end of segregation improved health outcomes for Black Americans. However, the data focuses specifically on the distance proximity of a hospital in relation to a medical emergency. When stripping out this element, there are conflicting sources of data on whether segregation truly improved health outcomes for Black Americans. Said another way, in the course of non-emergency medical care it remains to be proven that segregation has actually made any positive impacts to black health. Our “120 Hours in the ICU” Substack post goes into great detail on the current state of affairs.
The Importance of Insurance
The first North American insurance enterprise for the care of the sick and poor of the Black community was founded in Philadelphia by free Blacks in 1787. The preamble of the "Free African Society" set out the principles of the society and its insurance practices. While white insurance companies actively competed for black clients during the mid-to-late 19th century, they chose to reduce the size of the policies they wrote for them and significantly increased their premiums.
This fueled the growth of Black-owned insurance companies. In October 1898 the North Carolina Mutual Life Insurance Company in Durham was started. They ultimately became the largest Black-owned insurance company in the U.S. The W.E.B DuBois Blueprint goes into great detail on how this enterprise grew prosperously alongside a number of other black owned enterprises in Durham.
NC Mutual and other Black insurance companies provided jobs for local Black residents, when other opportunities for upward mobility were unavailable to them. In 1988, the 31 Black insurance companies in the United States employed about 5,000 people, and had $806 million in assets and nearly $25 billion of insurance “in force,” or active. Though these figures appear impressive, Black insurers were in decline, and The Mutual was carrying an increasing burden of representation for the industry. NC Mutual accounted for a third of that insurance in force and over a quarter of the assets for the entire black industry. The next year, premiums for white firms grew by 12% while declining by over 5% for black firms.
Eleven Black firms were merged from 1977 to 1989. These black firms generally served the lowest-income folks in the spectrum, with white firms gradually, then quickly, picking off middle-class Black customers. That’s because white firms, with more access to capital than Black firms based on historic discrimination, were at an advantage following social integration. They introduced an array of new products and actively marketed to Black consumers for the first time. When Black insurers could not match the product and pricing options, an increasing number of Black consumers moved their business to white firms.
Unfortunately in 2022, North Carolina Mutual Life Insurance Company went insolvent. More than a decade ago, AIG was provided a bailout worth nearly $150 billion. One of many financial firms saved by the U.S. government following the financial crisis of 2008, when many of them made bad bets as well. However, NC Mutual is not considered too big to fail, so no government or congressional rescue attempt came.
The Importance of a Healthy Mindset & Body
Reports from BioSpace and the Biotechnology Innovation Organization (BIO) have indicated Black employees represent ~6-7% of the life sciences and biotech sectors. Most sources have the Black physician and surgeon talent pool at ~4-6%. Not great, but not bad. The talent pool is there to reduce the reliance on Big Pharma, build innovative healthcare institutions and develop medical device companies. More details will be covered in the advanced manufacturing blueprint.
At Dymnd we’re a big proponent of taking care of your mind and body. Controlling what you can control. Prevention is the best medicine. Thankfully there’s many resources out there to do this. There’s many founders innovating to provide high quality healthcare solutions. A few all-stars are below. Please let us know if we missed anyone!
Libbie Health - Mental wellness companion and self-care app that utilizes somatic healing practices like EFT-Tapping and breathwork to help women, particularly women of color and caregivers, manage stress, anxiety, and trauma.
Alkeme Health - Founded by former NFL player Ryan Mundy, Alkeme is a health and wellness platform specifically for the Black community, offering curated courses and meditations from Black practitioners and experts, tackling issues like intergenerational trauma, systemic racism, and microaggressions.
Patientory - Population health data management and analytics company that uses blockchain technology to empower patients with ownership and insights into their health data while providing enterprises with comprehensive healthcare data intelligence to improve outcomes.
Gray Matter Analytics - Healthcare analytics company that leverages data and AI to help payors and providers optimize the quality, equity, and cost of care, particularly within value-based payment models.
HealthyMD - Healthcare company focused on providing free and affordable sexual health services, including testing and treatment for HIV, STDs, and Hepatitis C, through in-clinic, mobile clinic, and discreet at-home testing options, particularly for underserved communities.
Cityblock Health - Value-based healthcare provider that delivers integrated medical, behavioral health, and social services directly to underserved urban populations, primarily those on Medicaid and dual-eligible for Medicare.
Handspring Health - Provides high-quality, evidence-based virtual therapy for children, adolescents, young adults, and their families, focusing on conditions like anxiety, depression, and behavioral difficulties.
Sworkit - Digital fitness and wellness platform that provides personalized workouts, mindfulness exercises, and nutrition guidance for individuals, employers, and health systems.
Where Does Dymnd Fit?
Dymnd has zero intent to compete with any of the above companies. In fact, we’d love to partner with them by featuring them in our marketplace. Dymnd’s role is to enable career and health coaches to achieve positive outcomes with their respective clients. We do this by offering robust habit tracking and journaling features. We integrate with various wellness data providers to offer additional insights to users.
We’re here to help people think for themselves about what helps them make money and improve their health. And we’re here to do it in a provocative and fun way. Q3 2025 is all about the art of the crash out. Don’t take life too seriously.