Why Fear of Change is Holding Back Healthcare Innovation

I think it's human nature to be to be scared of the future and scared of change that comes with the future and we talk about here at Great Vine this concept of 11:59 p.m. it's it's the moment where today the present you know meets tomorrow of the future um and that's where you need to bring your customers to be a comfortable and silly minute away from the future right you need to meet them where they're at and you need to preserve what's important to them while upgrading the things that frustrate [Music] them you're selling into a very tough industry it's a it's an industry that's it it's complex right there's so many players and it's hard to drive change so what are you seeing in terms of the willingness of your customers to do something a little different and and who are your customers is this is this Administration is it medical uh practitioners who's driving the change yeah there's I mean two different ways that we've seen great Bine adopted and roll out within a a healthcare P practice or a Health Care System right there's the the top down um which has more to do with you know communicating and talking with leadership specifically Financial leadership about opportunities to save huge amounts of money and you know then propagating that opportunity down to the level of the clinicians the nurses the office managers right that actually know when something's out of stock or use the supplies you know with the patient um and then engaging with the the clinicians or the office managers to handle sort of the reordering and optimization of supplies and subbing in and subbing out products and so on um that's sort of the more top down uh adoption that that we've seen with larger institutions where the decisions are made by those those higher level people um but we also have seen it right in success in working directly with the the clinicians themselves right and the pitch is very different in that setting it's not about saving money it's about saving them time about letting them order on their feet when they open the supply C do you know that of all those big multi hundred billion dollar you know Revenue IND uh industry Giants that that dominate space not one of them has an app that you can Water Supplies from your phone you got to go back to your desktop computer you gotta think I'm in the patient I open the cabinet there's no needle to draw blood what do you do yeah well pause remember that write you know write it down or something and then bring it back to your desk because three hours later that's when you're going to order your supplies so it's the little things that actually matter to the the clinicians to make their lives easier in managing supplies and letting them focus on the patient that have been a huge success point and from there Grapevine can prop through to the top to the decision makers and we can start implementing different practices to save money so we see it flow sort of two different ways um but both have led to led to great success that's awesome you know there's a there's a there's another founder that came on the podcast a few episodes back woman named Cheney and she's in the health space at of Canada she said something really interesting she said you know nothing kind of weighs us down more than kind of the weight of the status quo when we know it doesn't have to be that way right and I think one you know that example you just gave is so fascinating right we know that technology today is capable of allowing just in time ordering note taking making it so we don't have to you know remember to refill the cabinet and the dissatisfaction that you can sell into seems to come from the gap between what they have to do today and just just knowing that it's possible do you find those little points of dissatisfaction are really useful triggers to to have a deeper conversation a absolutely I think that we're all I think it's human nature to be to be scared of the future and scared of change that comes with the future and we talk about here at Great Vine this concept of 11:59 p.m. it's it's the moment where today the present you know meets tomorrow the future um and that's where you need to bring your customers to be a comfortable and silly minute away from the future right you need to meet them where they're at and and you need to preserve what's important to them while upgrading the things that frustrate them and that's what a lot of the the first six months you know dealing with those punches and recalibrating that's what it was it was all about right like understanding not just how on paper you know or in reality you can save a business a lot of money and how that's that's a good thing but the tiny details that make the step into tomorrow very smooth and very effortless um and it it comes with it comes with or it comes from those the small things the things that aren't easy for the customer to explain to you the things that are you know implied and and you understand that when you really study and obsess over the the the customer and their experience and their struggles and their priorities what are so what are you tracking these days that inspires you like you're you know 11:59 moving moving into the next day what what's what's in the headlines what's happening in Tech or around us that gets you to just kind of lean in be like oh this is cool this is why I'm optimistic and why I'm doing have you seen anything recently well I'm definitely an optimist and I think it takes a bit of an optimist to you know take take the risks and and and do the types of things that that we're doing um I'm fascinated by almost anything if I stare at it and study it long enough uh so there there are a lot of things that have captured my attention in you know in in my world the details and and and the beauty of of logistics and moving supplies from point A to point B more efficiently um standardizing information for different sources but they're not the sexy like headliner events like honestly yeah when when it comes to things like uh machine learning in AI we use it there are basic models that are folded into um the way that Shoppers shop the way that we calculate misuse or you know clinical behavior in in overuse of of certain supplies but those things are are tools at the disposal of of entrepreneurs to be applied to to new problems um the things that really excite me are better understanding like where today is and then marrying it to the most Cutting Edge tools that are out there and yeah that's that's where we've you know we've made Magic happen well and I and I hear you I although I think a predictive model that can actually help someone make an informed decision about what they're going to need in the future I I think that's pretty sexy like this is stuff that we've been talking about for years decades but is actually becoming much more of a reality right there are tools available to you off the shelf that help you build something that possibly prevents the nurse from ever actually having to think about ordering in the future right and I mean like all of a sudden we're living in a world where we're kind of like wait of course that's possible of course that's possible now it's hard right you it's it turns out it's actually a little bit harder to to get these prediced algorithms to take into account every variable than we think but of course it's possible no and it's it's really cool we we look at things like upcoming scheduled patient visits right like which by the way they vary a ton throughout the season right like certain type of doctor might see 10 times as many patients in December you know if they're treating flu or different types of things um as so we actually read in upcoming scheduled patient visits that feeds our algorithms to predict how much Supply you're going to need and then we adjust orders that are automatically placed without you going on your computer going on your phone right we know the supplies that you need we know the types of patients that you're seeing coming up what's going to be used in those clinical settings and the orders the entire supply chain can really be put on on auto pilot and I do think it's sexy by the way you but I've been told by some of our VC Partners who have given us money which is crazy they're like yeah we love these very unsexy boring you know types of problems that's our and boring yeah I'm like all right I guess that's what we are man uh no you know what there's a there's a difference between uh boring and one of those problems that nobody is actually spending ending enough time thinking about and therefore it's just not in the you know the common the common lingo I don't know I was talking to a health system a big International health system not in the not in the US not that long ago they were telling me that they have uh depending on the time of year and the pr and the the area of practice between 30 and 60% no show rates and it's unpredictable and you know okay so that's a problem for lots of reasons but one of those reasons is consumables and it's placement of the consumables and it's expiration and it's it's the enormous amount of costs associated with them so like you know there's stuff just in this conversation that's clicking for me and connecting patient Communications with externalities like um everything from weather to holidays that get in the way to supply chain and you're like oh man there's a lot of data out there to work with and where there's data there's room for optimization and where there's room for optimization there's room for Innovation so super cool absolutely [Music]