The #HCBiz Show! Unraveling the Business of Healthcare | HealthIT | Innovation
About This Show
A practical podcast on the business of healthcare w/ hosts Don Lee and Shahid Shah. The premise behind #HCBiz is that we can't "just innovate". Sure, you may have a great idea, an all-star team and execute flawlessly, but if you don't understand the complex dynamics of the healthcare business you'll never get traction. We'll identify the issues that impede change, explain why they exist and find ways to work with them, through them, or around them. In short, we'll help you create space for innovation in healthcare through technology (HealthIT/HIT) and workflow. We'll also explore health policy, administration and the psychology behind it all. Finally, we help you align your ideas to business incentives, market them to healthcare leaders and get the sale.
Check out all our podcasts, videos and blog posts here: http://thehcbiz.com/
Get our weekly newsletter: http://bit.ly/HCBizSignup
Produced by Glide Health IT LLC in partnership with Netspective Media.
Most Recent Episode
021 - Building a Health IT Leadership Team | Drew Ramsey | Valor Partners
5 days ago
The healthcare industry has lots of problems, lots of money and is in a constant state of change. With those characteristics, it's no wonder startups are throwing their hats in the ring in increasing numbers. The theory is that they'll take some technology or process that's just killin' it in every other sector, apply it in healthcare and profit. The reality they find is quite different. Even with a great product, the notoriously long sales cycles, counter-intuitive financial incentives and policy-driven Health IT strategies converge to deliver a very strong message... you need help. On this episode, we talk with Drew Ramsey, a partner at Valor Partners and the head of their healthcare division. Drew specializes in placing executives and sales leaders in startups and venture-backed firms that are bringing Health IT products to market. As you'll hear, Drew's success measure is not just placement, but long-term success. That means that he and the team at Valor are very picky about who they work with. Drew shares with us how they vet their prospective clients to increase the odds of success and from that we can extract some key insights into when startups are ready to grow, expand marketing teams, scale sales teams, etc. This is a fascinating conversation that made me think about several things in a new light. Here's a few of the key topics: What characteristics are most important for a Health IT leader? How important is empathy? (5:30) What characteristics seem to be asked for most by Health IT startups? (7:45) What aren't companies asking for, but should be? (9:40) How do you align comp plans with the level of talent you're after? (14:00) Do leaders tend to come from the same sector as the startup, or might they jump from provider to payer, or long-term care to telemedicine, etc.? (18:53) When should startups bring on executive leadership? (21:45) What skills are needed to deal with healthcare's notoriously long sales cycles? (25:00) Why is it important that startups be able to articulate where they are as a company and what they expect of a new leader? (26:15) What are some examples of unreasonable expectations a startup might have when searching for new leaders? (27:10) What are some tricks and tips for realigning those expectations? (29:00) In your ex