How to Succeed in Healthcare

Arlen Meyers, MD, MBA 01/10/2018 5

An overwhelming number of doctors, engineers and scientists don't have an entrepreneurial mindset. What's more, when they have an idea, they don't know what to do with it since they will not learn those competencies in their formal training. They just don't know how to innovate their way out of our sick care mess.

But, that hasn't stopped lots of them from trying, include non-sick care entrepreneurs. They just improvise.

Here's how to fake it when you don't know what you are doing or you forgot your lines:

Avoid these wannapreneur rookie mistakes.
If you are a female, find a male wing man so someone will invest in your product.
Surround yourself with people who are way above your pay grade at lots of Meetups.
Practice Therantology.
When you inevitably fail, make a big deal out of it and about how much you learned from your mistakes and include them on your Linked profile. Rinse. Repeat.
Wear a fleece vest with your company logo.
Plead ignorance about how hard it is to get anybody in sick care to change and the long sales cycles.
Be sure you have lots of hood ornaments (doctors with fancy titles) on your advisory board prominently posted on your website.
Hire a virtual assistant that answers all of your calls and says that she/he will not be able to immediately connect you because you are in an investor meeting.
Get your co-working space guy to allow you to use more space than you are actually paying for when people come for meetings. Bribe interns with pizza to come and look busy.

These things come with practice. But, since you are part of innovation theater, practice your lines, be sure you are wearing the right costume and that the stage is set properly. Break a leg.

Arlen Meyers, MD, MBA is the President and CEO of the Society of Physician Entrepreneurs.

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Arlen Meyers, MD, MBA

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Arlen Meyers, MD, MBA is a professor emeritus of otolaryngology, dentistry, and engineering at the University of Colorado School of Medicine and the Colorado School of Public Health and President and CEO of the Society of Physician Entrepreneurs at www.sopenet.org. He has created several medical device and digital health companies. His primary research centers around biomedical and health innovation and entrepreneurship and life science technology commercialization. He consults for and speaks to companies, governments, colleges and universities around the world who need his expertise and contacts in the areas of bio entrepreneurship, bioscience, healthcare, healthcare IT, medical tourism -- nationally and internationally, new product development, product design, and financing new ventures. He is a former Harvard-Macy fellow and In 2010, he completed a Fulbright at Kings Business, the commercialization office of technology transfer at Kings College in London. He recently published "Building the Case for Biotechnology." "Optical Detection of Cancer", and " The Life Science Innovation Roadmap". He is also an associate editor of the Journal of Commercial Biotechnology and Technology Transfer and Entrepreneurship and Editor-in-Chief of Medscape. In addition, He is a faculty member at the University of Colorado Denver Graduate School where he teaches Biomedical Entrepreneurship and is an iCorps participant, trainer and industry mentor. He is the Chief Medical Officer at www.bridgehealth.com and www.cliexa.com and Chairman of the Board at GlobalMindED at www.globalminded.org, a non-profit at risk student success network. He is honored to be named by Modern Healthcare as one of the 50 Most Influential Physician Executives of 2011 and nominated in 2012 and Best Doctors 2013.

How to Succeed in Healthcare