Full Transcript 0:00 When we think about investment, it's actually due diligence process has multiple layers. 0:05 And I think a clinician is really good at creating the clinical layer of, is this something that you as a clinicians even will care to use? 0:15 That can be the very number one question. 0:17 At number two question, do you see your patients does this company actually have a sellable product. 0:24 Is there actually a revenue model that this is not just selling you on hope? 0:28 There is a realistic part of what the numbers actually make sense. 0:43 Welcome to another edition of Doctor Talks. 0:45 I'm your host, Brett Gregory, where we are democratizing the creator economy for doctors. 0:49 And I am very excited to introduce you today to Sabrina Runbeck. 0:54 She is a fractional COO, co-founder of Scriptura Health, venture partner at MedStarter Capital, and chief strategist of Health Board Advisors. 1:10 international bestselling author, TEDx speaker, and a global top 1% host. 1:15 She champions women's clinicians transitioning to leadership and investment roles. 1:19 Sabrina, thanks so much for coming on our program. 1:21 Hi Bri, thanks all the clinicians who has been bravely to speak, creating content. 1:28 I think that's all what we meant to be, right? 1:31 It's the step outside just simply being a clinician and truly putting our message out there, no matter that is clinical focused, 1:41 innovation focused or leadership focused. 1:44 Well, so excited to have you today. 1:46 So today we're talking about beyond the bedside, what it takes for clinicians to build, invest and lead. 1:52 You said that you witnessed brilliant clinicians being excluded from the healthcare innovations that they were expected to adopt. 1:59 Can you paint that picture for us? 2:01 What does that exclusion actually look like? 2:04 Many clinicians are very much feeling like they are a volunteer in the ecosystem that they have contributed years of knowledge, 2:14 pay attention to their team, their patients. 2:18 But what the system and institution often tell us to do is Hey, if you already been doing research, how about you pick up another project? 2:28 Like myself, I used to be, oh, If you're great at public speaking, How about your Lee RCME conference? 2:35 If your lead RCM conference, you start picking up, educating more of our medical PA and MP students. 2:43 And so it's always asking us to do more and then one more, more more. 2:50 When we get to a point, we are like, wow, We have a full patient, though, and we're doing all this extra work. 2:57 Are we being seen as someone who truly building legacy for me, for myself? 3:02 How do I contribute to the society, to our community? 3:06 Or we simply building up for the ecosystem that's behind us. 3:10 And if we step away, Do people actually understand our name? 3:15 Do they see that we helped to build that program that initiative that award program for these systems or they really remember us that system that nonprofit 3:25 that organization created something and we left. 3:29 and not be memorable anymore, right? 3:32 So where is our true legacy when it comes to these play? 3:36 And on the other side, we all understand healthcare is all about innovating. 3:42 It's all now flipping the switch from disease, how do you treat this cancer? 3:48 How do need to make sure you just simply do better? 3:53 Now it's about how we see this holistic picture of prevention, proactivation. 3:59 Therefore, we need more outside box thinkers. 4:03 Now when we get to that point, a lot of time we as clinicians are not invited to the table when things are just building. 4:11 We're only being asked. 4:12 When things are done, when large institutions already inject capital funding, then it's almost like we're being told, hey, 4:22 why don't you do this and test it out for us? 4:25 Instead of we should be in the forefront. 4:28 of the conversation, we should be at the table. 4:31 So actually that will prevent a lot of these billion dollars investments that end up to be what? 4:37 We don't even see valuable. 4:39 How come if we don' even seen valuable as clinicians, were not champion this. 4:43 They're not really built for us in our workflow, how we engage with patient. 4:48 Then how would they actually gain accessibility, right? 4:51 Then I think that's another big problem about how come innovation is with AI enablement is going at a speed of light. 5:01 Three months later seems to be outdated. 5:04 But if we weren't in the front of the table to discuss that, then that's why people are thinking about why access is so hard, 5:14 right? 5:14 Why adoption is hard. 5:16 Yeah, you know, what I love so much about clinicians is how giving they are. 5:21 But unfortunately, that can be taken advantage of a lot with, uh, people asking more and more. 5:28 So what was the moment that you knew you had to stop being just a practitioner and start being a builder? 5:34 Was there a specific patient or case that tipped that for you? 5:38 I was in an earlier stage in my career. 5:41 I think many people see me as like, oh, if I were at your spot and realized 10 years earlier, we're all going to be in a better spot. 5:49 So I'm one of those people who never believed just because we've always done it, will just keep working on it. 5:58 Just simply improve one inch at a time. 6:00 And I am more of a process thinker. 6:04 I was at a point where I leading a large team and we were in this amount. 6:11 We were cardiothoracic transplant the whole nine year. 6:15 And when you're dealing with some of these very, very sick patients, you also thinking about practitioners ourselves have such a high turnover rate. 6:25 Whether is you trying to train the newer practitioners trying join the team. 6:29 And if they don't feel like being supported, guess what? 6:32 They're jumping shifts, right? 6:35 And the senior, more senior practitioners are going to think about, well, I've been here for so long. 6:41 How come I'm not promoted into certain title, certain place? 6:44 Right? 6:44 So we always have these. 6:46 constant struggle about who's being appreciated the right way. 6:51 And I was at the point that I started having such a high volume of RVUs. 6:57 I think for any of the people who deal with reimbursement, right, it's always about RVU's. 7:08 my personal caseload are exceeding double of someone else's, right? 7:13 In a typical comparison. 7:16 And then you start seeing, wow, I'm drowning. 7:19 Is this how I wanted to practice medicine? 7:21 Is is how i want to take care of my patient? 7:24 If I barely can't even drink a sip of water before my next case starts. 7:30 And then the patient on the outpatient side is calling because the case they haven't finished and then we have patient waiting. 7:37 You start getting into the route. 7:39 It's like, wow, I'm not good enough because we couldn't take care of everybody, right? 7:45 So then start having that moment. 7:47 I think many clinicians get to the point is, To your point, Brett, we are soul giving. 7:52 At the same time, you get to the point of feeling like, wow, I'm really not performing at the scope that I meant to. 8:03 Is that because I am not giving the flexibility or because we're just simply drowned so much to the point that i start seeing patients in our age and having 8:17 major heart surgeries and then you start thinking, Wow, how come? 8:20 Right? 8:21 And it's because of the same thing happens to all of us is we ignore the signs, we ignored exhaustion, ignored the symptoms. 8:30 People always say clinicians are the worst patients because we all been there. 8:38 So if we how both our mental fitness, our physical fitness. 8:44 Then we're not treating our patients the best that we can even train ourselves. 8:49 So in some way, we become the hypocrite for that story. 8:54 Interesting. 8:56 I was at that point of, wow, I'm so exhausted. 9:01 to a point that I was burning, having a high fever, still waiting to operate. 9:08 And the next day I just can't barely get out of bed. 9:11 So I have to have a moment to myself. 9:13 I'm like, I can do this. 9:15 It's not healthy for the people in front of me nor myself, how can I do better, to still take care of the massive and not feeling like I am just one patient 9:26 at a time and still not be able to do enough for them. 9:31 That's how I start pivoting into innovation side of healthcare. 9:35 How do we really have something that is one too many effect? 9:41 And how do be more in the forefront of the table that we don't feel like we're a result of this system failure, but we are helping the system to become 9:52 even better. 9:53 And that's how this thing start pivoting into podcasting, speaking, engaging with clinicians who wanna become founders, innovators, 10:03 because many of us just never taught about business, right? 10:07 And then it's just so exciting to call ourselves entrepreneurs. 10:11 Yes. 10:11 But actually getting to the point of successful business is a complete different conversation. 10:17 So let's talk about that transition, not necessarily all the way to entrepreneurship, but let us just talk clinicians, what does it take for them to build, 10:26 invest and lead. 10:27 For that clinician that is just giving more and more, How can they make that transition to say, okay, wait a second, I'm putting everything into this organization 10:40 that I am building and growing. 10:41 How do I get a piece of the pie? 10:44 If a clinician is listening to this right now, how would you advise them? 10:52 I think there's two-pronged approaches. 10:55 Number one is, do you want to co-create the organization you're already part of or finding the ecosystem that's best fit for you? 11:05 Typically, we say the latter. 11:07 It's because any organization that already so set, they might or might not have a growth mindset. 11:14 So if you are trying to force the environment that is not necessarily aligning to how you wanna grow, Almost impossible. 11:20 You're like, yeah, impossible because he's just banging on the wall, right? 11:24 Right. 11:24 So the reason we create a health board advisor is many of us want to think outside the box. 11:30 There are a lot of innovation companies, larger organization, smaller organization that value us as clinicians to be on their advisor board, 11:39 to help with consumer product development, how do we have the best conversation with other clinicians or patients. 11:49 then we can start matching based on your own core personal value, those companies value how you communicate, how that company communicate and how. 12:00 You actually work as a skill and superpower in your natural self. 12:06 That's how, you can truly be valued into the expert that you are. 12:11 So that's where When we build house board advisor, we start matching, not just, Oh, what are you good at? 12:18 Right. 12:18 Because we all know that's not sustainable. 12:20 Um, and so we started matching on the value system, the true highest purpose, that what you can truly believe what legacy means for you. 12:29 And then these companies actually can create the legacy you have not necessarily have to become a, uh, a entrepreneur yourself to create it. 12:39 You can be part of those other organization who can then. 12:43 help you to create equity play or revenue play. 12:47 Okay, so I want to talk about clinical confidence in a second, but you've mentioned Health Board of Advisors a few times. 12:52 So what is Health board of advisors and how can our audience benefit from it? 12:59 Health Board Visor is the triple matching system that we created with the clinician operator in mind, because we know when you're creating business, 13:08 there's the idea. 13:09 Once you have the ideas, you need to have amazing people to help you to build. 13:13 But the challenge is a lot of A players are not meant to be built together. 13:17 There's an environment fit, capability fit relationship fit and convergence fit. 13:25 So then, House Board Advisor is really taking the people, whether you're a clinician or any house and wellness business, 13:34 when you are trying to find these experts, we invite the clinician to be the expert to match with the company. 13:40 And then the third thing is, as you grow, now we need to capitalize to scale up. 13:47 So then we also match with house and dental and wellness VCs and intro investors to actually inject cash into these companies. 13:58 Who are really aligning with supporting you as a founder, as board member, because we all know it's not just taking a check. 14:06 It needs to be a strategic investor into the company that really seeing your vision and help you grow faster. 14:14 Okay, so it's like a marketplace matching clinicians and companies who need clinicians help, correct? 14:24 And then bringing the capital on top of that, right? 14:27 Yes. 14:29 And so how can our clinicians who are listening learn more about it or become a part of it? 14:37 Yeah, we run virtual masterminds on a monthly basis, and as well as you can submit an application by going to healthboardadvisors.com forward slash apply, 14:51 because we're all about featuring you as the expert in the category you are. 14:57 And also it's about the power of money, right? 15:00 People then don't feel like, if I say yes to this one company, what if i got busy, I couldn't. 15:05 There are different ways that people, some might contribute like a consultant project based or one hour, two hours of work based. 15:15 Others really want it to be sitting on the board. 15:18 Then we can see what is that skill set, that time commitment that you need. 15:24 And then perhaps when you're on board, you can take some equity as well. 15:28 Yeah, that's a great way to go from somebody's asking you more, more and more to say, okay, it's my turn to get a little piece of the pie. 15:38 I love that. 15:39 Okay, you talked a bit about clinical confidence as kind of a real product. 15:44 So people being that as their product, so unpack that a litte bit. 15:50 What does clinical confident actually feel like to a clinician using, and I've heard you say before, the sequence method? 15:59 Yes. 16:00 We are also know nowadays, everyone has wearables. 16:05 Everyone start asking for laboratory owners own, right? 16:09 Just like see how function really blew it up. 16:12 And genetic testing, people start seeing like, Oh, what is my gene set? 16:16 Right? 16:17 I'm curious. 16:18 So when we start having all these data points, it become noise because then it becomes here and there. 16:26 How are we clinicians actually getting all these data into one place and also start sorting things out? 16:34 Means if one of your records shows that you're on five medication, but the other place saying you are on three, where's the two gaps, 16:42 right? 16:44 Are you actually on 3 or 5? And start helping people to see the trend of what's the discrepancy because that got injected into the sequence method because 16:58 we are now start figuring out what the complete picture of this person and based on the patient's intake, Perhaps they are more a working weekend warrior. 17:12 They care about recovery faster so they can go back to that triathlon that they're planning. 17:18 Perhaps there are middle-aged women start feeling like, oh, I'm putting on some weight. 17:24 It's just not going away. 17:25 Should I really use peptide or should I do another diet trend? 17:30 Do I use this thing? 17:31 people start getting too much information. 17:34 And then what does that mean for all of us as clinicians? 17:37 We're drowned by just data points. 17:40 To just figure out all those, that means we have to ask our medical assistants and our nurses to collect all the data and even just collect the pull out 17:53 what's the noise versus true signal, then it doesn't help us. 17:57 It actually slows us down when we're actually creating that treatment plan. 18:01 So what we helped out with the sequence method is that we injected all the patient data based on another survey on what they see is the most important 18:13 in their life right now, and then start seeing what are the missing factors, right? 18:19 What are the missing biomarker, missing genetic panel, or missing gut health? 18:23 And then how the patients to understand where their gaps are in their care. 18:30 And same thing, helping the clinicians to make faster diagnosis and treatment plan. 18:38 Then once the treatment protocol is sent to them, they approve it, then it gets sent back to the patient. 18:44 So it's that holistic way of what's missing, what is needed now. 18:49 And because we have wearable data, now the wear able data we start seeing the continuous trend, whether it's continued heart rate variability, 18:59 the sleep numbers of stress or versus continuous blood pressure or even continuous glucose. 19:07 We start saying, are you providing the care? 19:10 And now are they actually getting better on it, right? 19:15 It's no longer a snapshot way of seeing. 19:18 And that also helped patients to come back to us much sooner because they're so engaged with their own care. 19:24 They're seeing not just, oh, Whoopi is telling me that I'm kind of stressed out last night, I had an 11-week event. 19:33 But that's just a one snapshot. 19:34 If we're helping them to see the trend because they get on, whether it's peptide or melatonin or any supplement they are, 19:42 they can actually show there are improvement that gave them the confidence to keep doing it instead of just being on it for a week. 19:50 And they're like, I don't feel any different. 19:52 Then they stopped taking the medicine altogether. 19:58 I had it written down the sequence method. 20:01 Is that part of what you teach? 20:04 Yeah, so it's actually a AI computerized model that injected all the thousands of data points from PubMed and the major educator in A4N functional medicine, 20:20 aeratomics, and nutrition all in one system. 20:23 So it is really about, number one, inject all of the patient data, then the sequence method analyzes all data point to figure out best protocol and then 20:36 also tell us the discrepancy of what the data is incongruent. 20:41 And then once that protocol is generated for the clinician, then the condition confirms it. 20:48 They automatically get put into the clinicians EHR as well as putting into patient. 20:53 Wow. 20:54 That sounds amazing. 20:56 So we talked about, you know, what it takes for clinicians to build, invest and lead. 21:02 So let's talk about the investment part because clinicians are really trained to minimize risk and investing really require taking it on. 21:10 How do you help someone kind of rewire that instinct without abandoning the clinical judgment that makes them good at their job in the first place? 21:19 Such a great question. 21:20 Now, when we think about investment, it's actually due diligence process has multiple layers. 21:26 And I think a clinician is really good at creating the clinical layer of, is this something that you as a clinicians even will care to use? 21:36 That can be the very number one question and number two question, do you see your patients actually adopting in their life? 21:43 Right. 21:44 And then the other questions, perhaps clinicians not always understand what most of us that in the VC side were angels aside that due to diligence is does 21:58 this company actually have a sellable product? 22:02 Is there actually a revenue model that this is not just selling you on hope? 22:07 This is actually, you can see their performance, their financial distribution is now overhyping how big the market is. 22:16 There is a realistic part of what the numbers actually make sense. 22:20 And then you see, okay, so if the number makes sense, that means they can very clearly articulate what is the customer journey. 22:30 When they couldn't articulate or they will be like, Hey Sabrina, I think we can go for hospital and insurance plan and employers and clinicians. 22:40 Then they really truly have not figured things out. 22:43 Right. 22:44 So it's almost like if we break it down simply is. 22:50 Just like how you have patient walking into your door, right? 22:53 You are either very good at SEO, creating all those blogs, or just like WordPress be able to help you guys is being launch your podcast being on YouTube 23:06 creating content right that's inbound. 23:08 So you understand there are different methods to attracting people. 23:12 So when you're thinking about a company, then that's the same question you asked. 23:17 Do they have some kind of repeatable method to attract the right client to them? 23:22 And that helped with conversion where they're just shooting at everything under the sun. 23:28 Then you don't feel like, oh, I don' even know where to start when we are doing a due diligence on the company. 23:34 Now, of course, one of our expertise is also look at execution risks, are the founders meant to build together? 23:42 Are the boards that they have put together are great flashy names? 23:47 When they actually are working together, they're not just names on a slide deck, right? 23:53 And then they, have a clear role that how they are helping these founders, co-founder to bill this company. 24:00 And there's a long-term vision in that. 24:03 So okay, and in our only got one question left. 24:07 So last question, what's a mistake that you see clinician investors make over and over again, when they first start putting their money into healthcare? 24:14 And how would you advise them? 24:18 I think in the first, some of the mistake nowadays is they write very small checks and then they just feel like almost like a real estate investment. 24:27 If I just have multiple houses, I diversified and now I'm good. 24:31 But now we also understand as a credit investor, startups Start seeing you if you don't write minimum 25,000 checks, then they feel like they're diluting 24:44 their cap table too much. 24:46 So be able to spend a little bit more time being partnering with the company. 24:52 like us in Health Board Advisor, where we take on the majority of the fund and time and risks to figure out if those companies are worth our time, 25:00 then we present it to you. 25:02 Then when you write those checks, it's more confident. 25:06 So it is understand that if you haven't got yourself certified as a credit investor, We actually introduce them to our CPAs and legal team to make sure 25:17 you are accredited because then you start seeing these bigger high value and high reward companies instead of just feeling like, 25:25 oh, if I'm just write a $10,000 check here and there, then maybe I'll get somewhere. 25:32 So this is what it takes for clinicians to build, invest, and lead. 25:36 Sabrina, thanks so much for coming on today. 25:38 How can our clinicians get a hold of you? 25:40 I'm very active on LinkedIn. 25:42 If you just search my name, Sabrina Rambach, I'd love to chat with anybody in the space. 25:47 Great. 25:48 And if you're listening, we'll put the link in how to apply to the health board of advisors. 25:53 Sabrina, thank you so much for coming on today. 25:56 We appreciate you. 25:57 If you found this episode valuable, please consider hitting the like, subscribe and leave a review. 26:02 It really helps others find the show.
Comments