One part struck me as particularly interesting:
"Health care and education, in my view, are next up for fundamental software-based transformation. My venture capital firm is backing aggressive start-ups in both of these gigantic and critical industries. We believe both of these industries, which historically have been highly resistant to entrepreneurial change, are primed for tipping by great new software-centric entrepreneurs."
The problem is that is is hard to crack into healthcare. Not just from a market penetration point of view, but from an actual understanding of the market, the ability to create useful and meaningful software, and then the talent to execute. Bern Medical is one of those software-centric entrepreneurial companies.
Are disruptive innovators attracted to learning about the workflow and complexity of the healthcare system? I am not sure.
Do a lot of the software talent want to learn HL7, DICOM, CPT, ICD etc... I doubt it.
Could a recent high school graduate with $100,000 of Peter Thiel's money and no college diploma advise MD's on software that would impact their Revenue Cycle? Unlikely.
But, without understanding the issues facing healthcare and the intricacies of the process, how can we get the entrepreneurs involved? How do you attract innovators to the healthcare that possess the entrepreneurial drive?
I think the best chances will be pulling talent from the existing system and marrying with an external perspective. This way, we can get the best of both worlds- an understanding of healthcare as it is and the new outlook. It is a hard task to create a team that can understand and build meaningful software for healthcare and be able to have the drive to launch a new company. I know there is talent out there and perhaps it will take some work and time for the pieces to fit together. The stars have been aligned in the launching of Bern Medical to do just that. Although we are small, we have a great team of people with just the right background and skill-set to build a great company.
I am living right now the process of this innovation. This is why I appreciate Marc's advice near the end of his article. "Finally, the new companies need to prove their worth. They need to build strong cultures, delight their customers, establish their own competitive advantages... No one should expect building a new high-growth, software-powered company in an established industry to be easy. It's brutally difficult."
Mark Suster loves talking about skating to were the puck is going, not where it is. The puck is going to data and to healthcare. If you are outside the healthcare industry and want to get in- start now. Learn as much as you can and partner with people inside the industry who will compliment your skills. If you are already in healthcare and want to start a company, consider partnering with someone who will compliment your skills and add a new perspective.
It will be brutally difficult. But isn't that better than sitting in your cubicle everyday looking out the window at a parking lot?