On January 17th, 40+ entrepreneurs joined us on Zoom for an insightful morning event! This Healthcare Entrepreneurs Meetup was not one to miss: HealthIT folks joined A.T. Gimbel, Ashish Advani from InpharmD, and Rachel McCrickard from Motivo. Ashish and Rachel first presented at The Atlanta Healthcare Entreprenuer Meetup five years ago when starting their companies. It was exciting to check in with these founders and hear how their companies are growing.
These Meetups are part of an ongoing series of talks about Healthcare in Atlanta, with the objective of making Atlanta the premier place to start and grow a HealthIT business. The goal of these meetups is to facilitate connections, hear from industry professionals, and truly dig deeper into Healthcare problems that Atlanta entrepreneurs can help solve.
Check out the full video below
We started the morning with a good ol’ fashioned Zoom Breakout Room networking session to discuss in small groups how everyone's New Year's resolutions are going. It was a great opportunity to connect with new faces and reconnect with familiar ones before we dove into the event.
While working as a pharmacist, Ashish noticed redundant work as pharmacists researched the same questions over and over again. He formed InpharmD in an effort to centralize answers.
InpharmD connects questions from healthcare providers to customized, evidence-based responses from a nationwide network of academic drug information centers. InpharmD's database is optimized with machine learning and easily accessed via their website and a mobile application. Their goal is for healthcare providers to have better access to better health information, so they can make better decisions.
When Rachel was fulfilling her clinical supervision requirements, she drove two hours to get to her appointments and paid for her sessions out-of-pocket. Every week, she sacrificed a whole day of billable hours for that one hour with her clinical supervisor.
She saw issues with the costly, time-consuming process of clinical supervision required for therapist licensing. To solve this, she launched a basic online platform through Shopify to connect supervisors and therapists. Fast forward and today Motivo's network of over 1,200+ clinical supervisors means no gaps in care.
Both founders were working in healthcare as providers and drew inspiration from pain points experienced firsthand in their clinical careers when building their companies. While Rachel and Ashish saw the demand for solutions addressing real problems, they both found scaling and fundraising grueling as they proved market size and authentic demand. Both founders were hyper-focused on serving their customer while identifying product market fit.
On the customer side, it was important for these founders to identify who their user was versus who their buyer would be. Pivoting from a B2C to a B2B model was something both founders did, stating the B2C model can sometimes be difficult in healthcare. Ashish shared the importance of continuing to focus on customers when transitioning from focusing on product market fit to growth.
In regards to fundraising, Ashish and Rachel shared that when fundraising, accelerators helped, but independence remained key. Early on, they found focusing on modest funding rounds a better option verse the expectations of larger sums that come with their own challenges. Both Ashish and Rachel advised founders to humbly adapt one's role as needs change, constantly iterating to fill gaps in skills ad a company evolves through stages.
STAY INVOLVED. JOIN THE MEETUP.
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