What Does It Take to Be a Successful Healthcare Entrepreneur? – #HITsm Chat Topic

We’re excited to share the topic and questions for this week’s #HITsm chat happening Friday, 8/10 at Noon ET (9 AM PT). This week’s chat will be hosted by Michael Dermer (@michaelgdermer) and Victoria Sherman (@VictoriaShrman) on the topic of “What Does It Take to Be a Successful Healthcare Entrepreneur?“.

Michael Dermer is an entrepreneur, speaker, lawyer and founder/author of The Lonely Entrepreneur. Michael is considered the founder of not only a company, but an industry – rewarding individuals for healthy behavior. Michael left a promising law career to start IncentOne, the first company to provide rewards for healthy behavior. At the time, rewards in healthcare were not only non-existent – they were offensive. He was told over and over “we will never reward people for things they should be doing to be healthy.”

After bootstrapping for a decade, his company received a large private equity investment on October 15, 2008. They had arrived. It should have been a time for celebration. Then the financial crisis hit. Ten years were gone in ten days. Bankrupt customers. Investment gone. Credit dead. Family dollars at risk. Angry investors. Family relationships on the brink. It would take two years of working 24 hours a day to save what took ten years to build. The perfect storm.

It was doomed. Or was it? Today, health rewards are everywhere, he sold IncentOne to industry innovator Welltok and his company is credited with creating the health rewards industry. What resulted was not only a business success, but the discovery of unique intelligence on how to thrive under the pressure, chaos and burden of being the entrepreneur. The Lonely Entrepreneur was born. It is now their mission is to unlock the potential of entrepreneurs worldwide by turning the passion and pressure we all feel into success.

So, without further ado, here are the various topics and questions we’ll be discussing for this week’s #HITsm chat.

Topics for this week’s #HITsm Chat:
T1: In today’s hypercompetitive world passion & grit aren’t enough, we must develop the skills and mindset to be a better entrepreneur each day. From managing the chaos to generating revenue to standing out from the crowd. What does it mean to be a successful entrepreneur? #HITsm

T2: Great products & services should be enough, you have to be adept at creating ‘leverage’ to make healthcare customers move quickly. Leverage is an important skill for winning business in healthcare. What are some of the ways to leverage winning in business? #HITsm

T3: You have to use your entrepreneurial creativity to find a niche, a ‘playground’ where you are the only one playing. How do you beat your competition by finding playgrounds where no one else is playing? #HITsm

T4: Health plans, health systems, pharma companies, employers are all very different animals. But chasing every customer means you’re bouncing all over without understanding your market. What are some of the unique value propositions for EACH of these healthcare entities? #HITsm

T5: The healthcare industry is full of well-entrenched, well-funded competitors. And buyers have little mindshare for the difference between products so you need to position your company in order to have success. Why is positioning more important than product and what are some ways to position your product/service? #HITsm

Bonus: If your company is struggling or not progressing as quickly as you would like, what are some of the things you can do to turn in around (i.e. pivot?) #HITsm

Upcoming #HITsm Chat Schedule
8/17 – The Cost Savings Opportunities on the Business Side of Healthcare
Hosted by Don Lee (@dflee30) and @CAQH

8/24 – The Role of Technology in Chronic Disease Management
Hosted by Colton Ortolf (@ColtonOrtolf)

We look forward to learning from the #HITsm community! As always, let us know if you’d like to host a future #HITsm chat or if you know someone you think we should invite to host.

If you’re searching for the latest #HITsm chat, you can always find the latest #HITsm chat and schedule of chats here.

About the author

John Lynn

John Lynn

John Lynn is the Founder of the HealthcareScene.com, a network of leading Healthcare IT resources. The flagship blog, Healthcare IT Today, contains over 13,000 articles with over half of the articles written by John. These EMR and Healthcare IT related articles have been viewed over 20 million times.

John manages Healthcare IT Central, the leading career Health IT job board. He also organizes the first of its kind conference and community focused on healthcare marketing, Healthcare and IT Marketing Conference, and a healthcare IT conference, EXPO.health, focused on practical healthcare IT innovation. John is an advisor to multiple healthcare IT companies. John is highly involved in social media, and in addition to his blogs can be found on Twitter: @techguy.