ROI, John, Cove Ed discussed on Outcomes Rocket

Outcomes Rocket


Have health systems that have they've received strategic value right from their investment because they're leveraging technology that they invested in a potentially right to support of their really tricky times with cope. And you know. They really paved the way for an actual cash capital. Roi return down the road so just kind of one example of a handful of cases of how we derive a lot of great values group so john fascinating work that you guys are doing there and the twisted example. Just super interesting way that everybody wins. Tell us a little bit about the setbacks. We learn more from the setbacks we experienced than the winds. So what is one of those and maybe a key learning that you pull from that. That's made you guys better. Yeah absolutely and i think that's a really good question for us right because we've been doing this for a few years but we're still relatively young in the space and so we're constantly learning and working through challenges and kind of picking things up along the way but if i were to pinpoint one key one for us it's really timing. Timing is a really really big challenge for our work. And when i say timing i mean it takes a lot of time for a health system to really align around a strategic opportunity strategic investment arm to and ultimately write a check and that takes a lot of time. If you're you know if you're more of a institutional investor more traditional vc fund. I mean you're you're still gonna i'm right. You're gonna you're gonna do your due diligence but it feels like a lot less cumbersome cross and for our group just about every single health system in the room really doesn't need to have true operational alignment within any investment. Pretend they look at it. They need to have line of sight into the fact that they're going to derive a lot of value has a customer before they write any checks and so what that means is right. It's your needs needs align with the system strategy you need to socialize the investment opportunity amongst the number of stakeholders and all of that stuff really takes time and so from our end. It's now we have to serve investment opportunities accordingly right. You can't us number changes that are weeks or even months this show away right because it's just not gonna happen right. Your systems aren't going to get a line that quickly. Maybe some might be able to really tricky and you can't service investment opportunity a year plus down the road. Because you know you'll lose. Steam was interest and in the rounds might not be even as formalized like to be so timing for us has just been been really really tricky. And it's tough but so we've kind of and it's an issue right. I mean it takes time and if you're going to write a check i mean it takes time. You wanna do your due diligence right. So how'd you guys found that sweet spot there. Yeah absolutely again learning through our kings along the way we've kinda landed on this. You know three to six months investment opportunity surfing opportunities from for about three or six months out. How can you know that that i mean. Of course the challenge there is that you know all of the needs needs to align with the best companies are really in their need for capital right. And so so still tricky. I don't know that we've been good mckiness. But i think that along with testing the waters with some different types of events especially now in the wake of coveted and are more virtual worlds right. We're testing out things. So i think if you experience maybe around one around too obvious venture network event. That might have felt more like a random walk down down digital health where it will be a handful of companies not necessarily playing in different spaces together right but interesting investment opportunities for our specific health systems. You know now. We're really toying with the opportunity of or the idea of. Hey can we look at a particular space and really think about who are the top two or three best in class companies in that space that we know from some of our diligence and a line of events. You know that way on the flip side right again. If those companies aren't ready to capitol view leave out one of the best companies just because they're not raising Probably not our going to see kind of which best in class so again. I don't know that we've perfectly now. That the the figuring this thing out along. Nah now that's really interesting. John you know in in that example. Where maybe they're not raising. But you know maybe showing support and getting. Some sort of strategic partnership alignment is just as valuable without having to write a check. Oh yeah absolutely right. So companies really come to the event for obviously two reasons right. You have the one need for capital. But also i mean it's a fantastic customer base right and so we've had many companies come through or they don't necessarily secure out check from one of the investors but they do absolutely secure customer and that's obviously a fantastic outcome from the company's perspective because they're really really great group of a customer base as well. Yeah yeah and so as the organizer of the events the matchmaking events. I mean you guys win if either happens right because you're providing that environment where the health systems can find these sort of relationships and investment opportunities. Yeah you're spot on right. All of the dotcoms are great for us. Because at the end of the day we wanna help our health systems and not only just our health system investors but align with really great did opportunities that are going to move the deal for them. Strategic wise and these companies are really looking for key health system clients to prove out either their capability or just grow and expand when the ever changing landscape of healthcare. And so you know. From perspective at least venture network. You folks might be confused but we're not really a side car fund. We don't invest directly right and so from a matchmaker respective. it's really just. Can we drive the best outcomes for both parties. And if that happens in we're we're happy as clams. What would you tell any health system leaders listening now. that maybe aren't members of omnia. How can they learn morin. What would you encourage them to consider as we go through tough times. Cove ed the front door to the health system forever changed you know what what encouragement would you give them john. Yeah that's that's a really really good question especially with things. Changing you know so much in the wake of code and how i mean we have Probably just a good example of this right we have a. I heard a couple weeks ago from a health system that i work with you know. They're trying to. They're trying to build out and integrate some of their texting capabilities and over the past year and a half. It took about a year and a half to organize really two or so use cases to secure the texting capability and how to best engage with patients. You know that's pre covent postcode. We've had examples of health systems..

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