OVERVIEW:
Jason A. Duprat, Entrepreneur, Healthcare Practitioner, and Host of the Healthcare Entrepreneur Academy podcast talks with Dr. Daniel Kraft, MD, physician-scientist, inventor, entrepreneur, innovator, and Chair of the XPRIZE Pandemic Alliance Task Force. Daniel discusses his showcase event, Exponential Medicine. He also shares his insight on healthcare innovation and offers advice to anyone trying to get their business ideas off the ground.
EPISODE HIGHLIGHTS:
- Daniel considers himself an international healthcare futurist. He's focused on rethinking and reimagining digital healthcare to address the unmet needs of patients and to solve their pain points.
- His vision includes democratizing healthcare solutions around the planet: drugs, devices, software, and wearables.
- Daniel is the founder and Chair of Exponential Medicine – a high-energy and boldly redesigned medical conference.
- The annual program gathers biomedical and technology-based faculty, innovators, and organizations to explore technologies that will impact the future of health and medicine.
- Daniel's advice for people who host events or speak at conferences: throw away the script and be less afraid of making mistakes.
- The Innovation Lab at Exponential Medicine helps accelerate entrepreneurs from startup to market.
- Healthcare is a team sport. No one person has the answer.
- Daniel is an advocate of design thinking to meet people where they are – to redefine the problem to better understand people and challenge assumptions.
- Daniel talks about the 15 years he spent as a flight surgeon practicing aerospace medicine in the California and Massachusetts Air National Guard and why he decided to get out of the military.
- If you're launching your own business, Daniel advises you to do it from the bedside. What problem are you solving? Understand who's cheese you might be moving.
- Daniel also advises seeking out partners through virtual networking on LinkedIn and participating in pitch days with accelerators and incubators. Build a business plan and recruit people to your team.
3 KEY POINTS:
- The goal of Exponential Medicine is to bring people together to learn and cross-fertilize ideas – to accelerate incremental medicine.
- COVID is sparking a health age through the use of telemedicine and the alignment of regulations with reimbursements. It's forcing us to find and catalyze new healthcare solutions – there will be new spinoffs coming out of COVID.
- Figure out what your unmet need is and understand it from different angles. Look at the landscape of the competition and then build prototypes for your solution.
TWEETABLE QUOTES:
“Healthcare and innovation is a team sport… Bring people together from all sorts of realms to learn and cross-fertilize…” – Dr. Daniel Kraft
“Start with a minimum viable product and validate the marketplace ahead of time.” – Dr. Daniel Kraft
RESOURCES:
Daniel Kraft M.D.: https://danielkraftmd.net/
Dr. Daniel Kraft's Twitter: https://twitter.com/daniel_kraft
Singularity Group: https://www.su.org/
Exponential Medicine: http://exponentialmedicine.com/
Rock Health: https://rockhealth.com/
Have a healthcare business question? Want to request a podcast topic? Text Jason at 407-972-0084 and he'll add you to his contacts. Occasionally, he'll share important announcements and answer your questions as well.
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