172 episodes

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 | Digital Health) 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 of our podcasts, videos and blog posts here: http://thehcbiz.com/

Produced by Glide Health IT LLC in partnership with Netspective Media.

The #HCBiz Show‪!‬ Don Lee and Shahid Shah

    • Business
    • 4.7 • 22 Ratings

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 | Digital Health) 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 of our podcasts, videos and blog posts here: http://thehcbiz.com/

Produced by Glide Health IT LLC in partnership with Netspective Media.

    Spin-offs and Joint Ventures: Another way to Innovate with The Clinic by Cleveland Clinic

    Spin-offs and Joint Ventures: Another way to Innovate with The Clinic by Cleveland Clinic

    There are many ways to innovate within an existing organization. However, it can be difficult to move as fast as you’d like within the constructs of an established business model and culture. For one, it’s difficult for your team to innovate on top of their “day job”. Second, it can be difficult to hire and incentivize the right people to drive the innovation within your existing constructs. These are the types of issues that the folks at Cleveland Clinic identified as reasons for not innovating fast enough in telemedicine. They decided that if they were going to pick up the pace, they were going to have to take a different approach.
    The Clinic is a joint venture between Cleveland Clinic and Amwell that connects patients with Cleveland Clinic physicians for online second opinions. Together they are using the latest telemedicine technology to, as CEO Frank McGillen put it, “unlock access to the world’s best medical care”.
    On this episode, we talk with Frank McGillen, CEO, and Peter Rasmussen, MD, Chief Clinical Officer of The Clinic by Cleveland Clinic to understand why one of the best known global brands in healthcare decided that a JV startup was the best way to bring this innovation to market quickly. We discuss:
    The problem that needed to be solved The benefits of the spin-off/startup approach The benefits of partnering with vs. hiring a technology vendor How they were able to get Cleveland Clinic physicians on board The importance of unique business models in a competitive marketplace How they are measuring the success of their second opinion service How they are measuring the success of this innovation approach Advice for organizations who are considering a startup/spin-off approach to innovation   About The Clinic by Cleveland Clinic The Clinic is a visionary joint venture that combines the unrivaled clinical expertise of Cleveland Clinic with Amwell’s industry-leading telehealth platform. Through innovative solutions like our Virtual Second Opinions, we enable easy, secure access to the highest quality medical expertise.
    Patient-centric and deeply collaborative, we are passionate about realizing the global possibilities of digital health, providing advanced solutions that help tame the costs of care while enabling patients to achieve better outcomes and the greatest degrees of hope.
     
    Learn more:
    Web: https://theclinic.io/
    LinkedIn: https://www.linkedin.com/company/digitalhealth1/
    Anthem signs on with Cleveland Clinic’s, Amwell’s virtual second opinions service
     
    Full show notes and links: https://thehcbiz.com/172-spin-offs-and-joint-ventures-with-the-clinic-by-cleveland-clinic
     
    The #HCBiz Show! is produced by Glide Health IT, LLC in partnership with Netspective Media. 

    • 45 min
    Office Hours: Does My Software Need FDA Clearance (SAMD)?

    Office Hours: Does My Software Need FDA Clearance (SAMD)?

    #HCBiz Office Hours allows entrepreneurs/digital health startups to ask questions of hosts Don Lee and Shahid Shah.

    • 1 hr 3 min
    Financial Advice for Early Stage Digital Health Startups w/ Kristian Marquez

    Financial Advice for Early Stage Digital Health Startups w/ Kristian Marquez

    We spend a lot of time talking about how to align your startup’s vision with the realities of the business of healthcare. You can have the best idea in the world, but if you don’t properly validate your offering with customers, clearly and concisely explain the value it will bring them, close deals, and deliver on your promises then it will amount to nothing. Each of these steps is critical to your success. However, you can get many of them right and still fail. The best way to prevent this fate is by tying them all together with a financial plan that’s based on reality and considers the long-term goals for your startup.
    Today we talk with Kristian Marquez, CFA, Managing Director for FinStrat Management, Inc. about how to properly manage your startup’s finances.  The good news is that you don’t have to be perfect. Kristian tells us you should expect to get a lot of it wrong and have to clean it up along the way. That’s ok. His advice: go bare-bones in the beginning when it comes to finances, legal, and generally “papering your business”. That way, you can put all of your resources into ensuring you have a product that people will actually pay you for. That means more time talking with customers, managing your pipeline (and not lying to yourself about it), practicing selling, and cultivating the confidence to ask for the close.
    Kristian walks you through this early-stage strategy, explains when it is time to bring in the experts, provides guidance on debt vs. equity funding, and even helps you prioritize your spending based on the type of company you want to build.
    This episode pairs well with:
    Episode 30: Why You Should Always Be Preparing to Sell Your Company with Dexter Braff
    Episode 85: Lessons on Selling in Healthcare w/ Dom Cappuccilli
    ----------
    Kristian Marquez, CFA – Kristian serves as Managing Director for FinStrat Management, Inc.
    FinStrat Management (“FSM”) is an outsourced financial department services firm providing fractional accounting, controller services and CFO services. Exclusively serving B2B SaaS companies, we provide fractional: Chief Financial Officer, controller and accounting services.
    Web: https://finstratmgmt.com/
    LinkedIn: https://www.linkedin.com/company/finstratmgmt/
    Twitter: https://twitter.com/finstratmgmt
    Please email info@finstratmgmt.com if you'd like a free consultation.
    ----------
    This episode is brought to you by:
    The Substance Use Disorder Treatment and Recovery Loan Repayment Program (STAR LRP) gives behavioral health providers up to $250,000 to repay school loans in exchange for working full-time for six years at an approved site.
    Apply now through July 22, 7:30 p.m. ET.
    ----------
    The #HCBiz Show! is produced by Glide Health IT, LLC in partnership with Netspective Media. 
    Music by StudioEtar

    • 1 hr 1 min
    The Art of the Possible: Doing Health System Innovation Right with Houston Methodist Center for Innovation

    The Art of the Possible: Doing Health System Innovation Right with Houston Methodist Center for Innovation

    Just about every health system has an innovation program, but how do they know if it’s making a difference? That’s the question we set out to explore with the team from Houston Methodist Center for Innovation. On this episode we talk with:
     
    Michelle Stansbury, Vice President of IT Innovation Brad Shaink, Administrative Director of Digital Innovation Josh Sol, Administrative Director of Ambulatory Innovation  
    They walk us through:
     
    Innovation Expectations: How do you set expected goals, OKRs, KPIs, etc.? Innovation Discovery: Where do you find solutions? Innovation Evaluation: How do you evaluate solutions before you pilot them? Innovation Pilots and Early Adoption: How do you pilot your solutions? Innovation Procurement: RFPs, templates, etc. Innovation Diffusion: Implementation, integration, etc. Innovation Recognition: How do you recognize teams that are doing things well? Innovation Failure: How do you know if an innovation has failed? Exnovation: How do you know when it's time to stop doing something, or to turn off legacy solutions?  
    Key takeaways include:
     
    Right-sizing your pilots: Start small and keep your efforts in line with what you are trying to accomplish. Metrics can be qualitative or anecdotal, but they must exist and you must be honest with yourself about whether they are being met. Honesty and trust are key to innovation success. If you aren’t giving honest feedback and holding one another accountable then everything falls apart. Startups should focus on solving the customer's problem first and avoid pushing their own agenda. If you invest in the customer's needs first, you’ll get a chance to expand the vision later. Make innovation a priority and develop innovation habits: The Houston Methodist team schedules “Monday Demos” each week to ensure they always have new ideas and solutions entering the pipeline. Sometimes they find a solution for a problem they didn’t even realize they had.  
    Links and Resources  
    Connect with Michelle Stansbury on LinkedIn Connect with Brad Shaink on LinkedIn Connect with Josh Sol on LinkedIn Learn more: Houston Methodist Center for Innovation  
    Related Episodes:
     
    Episode 149: How Health Systems Think with Neil Carpenter (Listener Favorite) Episode 137: The Novation Dynamic: 3 Pillars for Healthcare Innovation Success with Michael Ackerman Episode 133: Keeping Your Innovation Engine Humming During the COVID-19 Crisis w/ Karen Murphy, PhD, RN (Geisinger)  
    This episode is brought to you by:
    The Substance Use Disorder Treatment and Recovery Loan Repayment Program (STAR LRP) gives behavioral health providers up to $250,000 to repay school loans in exchange for working full-time for six years at an approved site.
    Apply now through July 22, 7:30 p.m. ET.
     
     
    The #HCBiz Show! is produced by Glide Health IT, LLC in partnership with Netspective Media. 
    Music by StudioEtar

    • 43 min
    The AWS Diagnostic Development Initiative with Grace Kitzmiller

    The AWS Diagnostic Development Initiative with Grace Kitzmiller

    Applications are open for the second round of the AWS DDI with $12 million in compute resources and technical support is available to organizations to accelerate their work in diagnostics. Learn more about the program and how you can apply.

    • 41 min
    Multicultural Patient Engagement to Improve Clinical and Business Outcomes with Abner Mason

    Multicultural Patient Engagement to Improve Clinical and Business Outcomes with Abner Mason

    Learn how thoughtful patient engagement that accounts for the multicultural realities of your patients can drive health equity, improve outcomes, lower costs, and even increase revenue for health plans and providers. Plus, details on ConsejoSano's startup journey with a few key lessons for healthcare entrepreneurs.

    • 42 min

Customer Reviews

4.7 out of 5
22 Ratings

22 Ratings

malfoxley ,

Great show!

Don and Shahid, hosts of the #HCBiz Show! highlight all aspects of digital health and more in this can’t miss podcast! The hosts and expert guests offer insightful advice and information that is helpful to anyone that listens!

Jared Johnson Piano ,

The industry standard

Don and Shahid’s show set the industry standard for high-quality healthcare podcasting! I learn so much with each episode. Fresh perspective and tons of relevant information. Highly recommended!

JoshCrist ,

Entertaining, insightful and actionable! 🔥

Whether you’re well established as a healthcare innovator, or just getting started as a catalyst for change - this is a must-listen podcast for you! Don and Shahid do an incredible job leading conversations that cover a huge breadth of topics related to the ins and outs of building a thriving healthcare ecosystem - from leaders who’ve actually experienced success themselves. Highly recommend listening and subscribing!

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