Building a healthcare company is not for the faint of heart. While the industry desperately needs innovation, it’s notoriously complex and opaque – shaped by multiple stakeholders, regulatory challenges and a bias toward the status quo. Meaningful disruption requires a clear vision, a proven business model and a strong support network for founders.
Building a healthcare company is not for the faint of heart. While the industry desperately needs innovation, it’s notoriously complex and opaque – shaped by multiple stakeholders, regulatory challenges and a bias toward the status quo. Meaningful disruption requires a clear vision, a proven business model and a strong support network for founders.
Redesign Health integrates all of these components into our company creation process to set our new ventures up for success. One way we do this is through Redesign Health Advise, a unique advisory program that connects our team and founders with a deep bench of experts from across the healthcare industry. These advisors deliver specialized insights throughout the operating company lifecycle – helping us launch and grow businesses that solve healthcare’s biggest challenges.
Advise is unique in the healthcare startup space. It’s purpose-built to meet the specific needs of both our internal team and our Operating Company founders through targeted, actionable guidance. At the same time, Redesign Health Advise strengthens our partnerships with established industry players, which are key to driving impact at scale.
Let’s dive deeper into how the program works.
Our advisors are entrenched in the industry, with deep knowledge of key players and processes in their respective segments. Their insights help us to build conviction in new businesses more quickly and accurately, helping us to adjust or pivot concepts into more favorable outcomes.
For instance, advisors participate in calls with our New Ventures team to support the research and diligence phase for a new company. They also test and vet ideas with representative panels of stakeholders. By expediting and refining these key stages in our process, Redesign Health Advise helps us strengthen new business concepts and reduce the time from idea to funding.
Advisors continue to play a pivotal role when it comes to recruiting a founding team, leveraging their extensive networks to help us find the right fit for new companies. They also support founders throughout the onboarding process and beyond, both 1:1 and in group settings. Advisors focus on finding and addressing knowledge gaps, as well as connecting founders with experts in other disciplines to help later-stage companies achieve scale.
Recently, three advisors spoke to our operating company CEOs about go-to-market strategies, offered a firsthand view of fundraising and visibility into market conditions, and shared guidance on securing enterprise partners. This type of high-level counsel empowers founders to fine-tune their business strategies and product-market fit.
“My advisors helped me take the business apart, understand where I saw opportunity and show me where they thought I could improve,” notes Patrick Mobley, CEO and Co-Founder of a stealth venture built at Redesign Health. “They provided insight on whether we should focus on specialist or primary care physicians, how to enter the space as a pilot and how to price our product appropriately. They even reviewed pitch decks and opened doors to potential partners.”
Finally, Redesign Health Advise benefits the broader Redesign Health team by fostering complementary partnerships with other healthcare stakeholders. We believe that by working closely together with healthcare incumbents, we go further than we could go alone. Our advisors also share perspectives that advance our industry on topics such as value-based care adoption.
Advise offers a wide range of expertise, with more than 150 key opinion leaders representing providers, payers, academic institutions, pharma and life sciences, medical devices and technology, employers and other organizations. A few of our advisors are:
The program has two main components:
Advise: Redesign Health Advise is a group of experts who work in long-term engagements and are attached to specific operating companies.
Executive Advisory Boards, or EABs: The Executive Advisory Board is a subset of our most experienced advisors. The boards include Commercial Payer, Medicare/Medicaid, Providers and Employers/Brokers. Each has a specific set of objectives and engagements, making it easy for Redesigners to find the right support.
Making meaningful connections
By providing Redesigners with direct access to seasoned leaders, Redesign Health Advise expands our reach and impact across the industry.
“Redesign Health’s impressive network of leaders is a testament to the work they’re doing in this space,” says Advisor Rishi Sikka, former President of System Enterprises at Sutter Health. “I’ve greatly enjoyed the opportunity to ideate on healthcare companies with Redesign Health–and to advise CEOs of new companies as they focus on building their business.”
Redesign Health Advise not only grants Advisors a front row seat to the launch and growth of new companies, but it also presents a unique opportunity to expand their own networks.
"As a member of Redesign Health's thriving ecosystem, I'm continually provided with insights into the latest trends and technologies that are shaping the future of healthcare," says John Brownstein, Chief Innovation Officer at Boston Children's Hospital. "It's exciting to partner with such a diverse and accomplished community of industry leaders and entrepreneurs while contributing to the transformation of the healthcare industry."
What makes Redesign Health Advise so impactful is that our Advisors are committed for the long haul. They stay engaged throughout the company creation process as trusted members of the team.
“Our advisors initially serve as ‘river guides,’ providing clear direction to keep us on course,” says Neil Patel, Head of New Ventures at Redesign Health. “They transition into creative problem-solvers, contributing to ideation sessions with potential solutions to complex challenges. Finally, they dive deep into clinical model design, operational planning and business development.”
By offering their unique insights and expert guidance at every step of the process, our advisors effectively lower the barriers to meaningful disruption for new ventures and their founders.
If you’re interested in joining our team as an advisor, we’d love to hear from you. Get in touch with us today.
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