4 ways hospital CEOs are like start-up entrepreneurs

  1. Passion.  When we’re so personally and professionally involved in something, we begin to fear our emotions will get in the way. For self-preservation reasons, we often start to pull away (or in the case of poor, struggling health start-ups, start applying for other jobs) because we’re SO involved that we fear our emotions might impede our judgment. But this passion for promoting health care, well care, health literacy, telemedicine, mHealth, etc. – this passion is what got us started in the first place.
  2. Empathy. Without concern for and understanding of the user (or patient) experience, we’ll fail to provide quality, life-changing care. We need to know what brought patients/users to us, why they keep coming back, what we can do to improve their experience, to help manage their expectations, etc.
  3. Problem solving. Physicians take on massive amounts of debt to go to medical school, and complete residencies and fellowships. They don’t expect to get rich. Physicians study medicine because they want to help people, to identify problems, and fix them. This should ring true with health start-ups as well. People who start health-tech companies aren’t looking to for wealth. They see pain-points in the delivery of health care and seek to solve problems from the outside in.
  4. Failure. We all fail. Physicians and entrepreneurs see failure as part of the iterative process of our business. If something doesn’t work, we find out why, and try it a different way the next time. Over and over and over again. The key to our success is listening to our failures.

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