Health Tech Innovation Insights - Episode Details
What you’ll get out of this episode:
- Nancy Brown’s Background: Nancy shares her comprehensive experience in healthcare management and her strategic move from a non-profit to entrepreneur, detailing her pivotal roles in pioneering companies like Athenahealth.
- Investment Philosophy: Nancy discusses Oak HC/FT’s unique approach to investing, focusing on building new systems rather than altering existing ones, and their careful selection of portfolio companies.
- Healthcare Challenges and Hopes: She expresses both frustration with current healthcare inefficiencies and optimism about the potential for improvement through attracting top talent into the sector.
- Founder Relationships: Nancy elaborates on her deep, supportive relationships with founders, emphasizing the importance of leadership qualities and operational expertise in her investment strategy.
- Future of Healthcare: Focusing on the cost-quality equation in healthcare, Nancy highlights Oak HC/FT’s commitment to addressing complex healthcare needs through innovative solutions.
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Read About Health Tech Innovation Insights
Journey and Evolution
Nancy Brown’s path through the healthcare industry began right out of business school, choosing a staff model HMO over traditional healthcare roles, driven by her interest in the organization of healthcare. Her early experiences at Harvard Community Health Plan equipped her with valuable insights into clinical process re-engineering and total quality management, which later influenced her entrepreneurial ventures into technology that supports healthcare services.
Investment Strategy and Philosophy
In her investment strategy, Nancy highlights the importance of creating new systems rather than trying to integrate into or change existing ones. This approach has led Oak HC/FT to focus on innovations like Devoted Health and Imagine Pediatrics, which aim to transform healthcare delivery through new models and technologies rather than adapting to the old systems.
Leadership in Healthcare Innovation
Nancy stresses the critical role of leadership in healthcare innovation. By sharing her experiences and the qualities she values in leaders, such as humility and the ability to evolve ideas and teams, Nancy provides insights into what makes a successful healthcare entrepreneur. Her perspective is informed by her own experiences as both an operator and an investor, giving her a unique view into the challenges and needs of growing healthcare companies.
Challenges and Optimism for Healthcare’s Future
Despite her criticisms of current healthcare inefficiencies, Nancy remains optimistic about the future. She cites the influx of talented individuals into the healthcare sector as a reason for hope. These individuals are driven to solve longstanding problems with innovative solutions that challenge the status quo, potentially leading to significant improvements in patient care and system efficiency.
A Vision for Tomorrow
Looking forward, Nancy is particularly interested in subpopulation management, which targets specific patient groups with tailored healthcare solutions. This focus is evident in Oak HC/FT’s investments in companies that address the needs of complex cases, such as pediatric patients on ventilators at home. These targeted solutions not only improve care for vulnerable groups but also aim to optimize the cost-quality equation in healthcare, a continuing theme in Nancy’s strategic vision.
WORD FROM OUR SPONSORS:
Our sponsors for this episode are Sage Growth Partners and Quantum Health
Sage Growth Partners accelerates commercial success for healthcare organizations through a singular focus on growth. The company helps its clients thrive amid the complexities of a rapidly changing marketplace with deep domain expertise and an integrated application of research, strategy, and marketing. For more information, please go to www.sage-growth.com & follow Sage Growth Partners on social media – @sagegrowthpartners
Quantum Health is an award-winning consumer healthcare navigation company that delivers an unparalleled consumer experience based on empathy and trust, enabling employers to achieve industry-leading satisfaction rates and independently validated claim savings. Launched in 1999, Quantum Health’s model is based on years of consumer research and the insights learned from guiding millions of consumers and their providers through their healthcare journey. Visit: https://quantum-health.com/ and follow Quantum health on social media – @Quantum Health
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