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One of the most widely known and influential thinkers on management, Peter Drucker, once said, “The entrepreneur always searches for change, responds to it, and exploits it as an opportunity.” In this movement to value, it's seems that the new players – innovators and disrupters with unbridled passion for entrepreneurialism – are going to be in the best position to be at the headwaters of a transformation in American healthcare. The financial incentives in the current model of healthcare are simply too entrenched to be overcome by most legacy incumbents worried about how value transformation will create demand destruction in their fee-for-service lines of business. We need a better way forward. Now is the time to throw away traditional economic principles to reshape healthcare in our country! Our promise to build a uniquely new American healthcare system that is patient-centered and economically viable will be realized by innovators like the one you will hear on this week's episode. We are joined this week by Thompson Aderinkomi, the Co-Founder and CEO of Nice Healthcare. Thompson has the mindset that if it's broken, you fix it…we as industry leaders shouldn't wait for someone else to figure out how we are going to win in this Race to Value! Thompson is a health economist and entrepreneur that you should be listening to. As the co-founder and CEO of Nice Healthcare, he has created a technology-enabled primary care clinic that delivers all care in the comfort of the patient's home and contracts directly with small employers. Thompson built this company in response to the economic dysfunction and lack of cost accountability that he observed in our broken healthcare system. According to Thompson, it will be necessary for innovators to lead the way since the legacy model is too entrenched to reform itself. Listen to this incredible interview to find out why Thompson believes that value-based care (if done right) will ultimately lead to the bankruptcy of legacy companies! Episode Bookmarks: 01:30 Introduction to Thompson Aderinkomi, the Co-Founder and CEO of Nice Healthcare. 02:30 Support Race to Value by subscribing to our weekly newsletter and leaving a review/rating on Apple Podcasts! 03:30 In 2017, Thompson co-founded Nice Healthcare – an on-demand, in-home technology-enabled clinic that delivers comprehensive healthcare to employees of small and medium-sized businesses. 04:30 Thompson shares the horrific story of the poor healthcare his one-year old son received and how that shaped his entrepreneurial vision to start his company! 06:45 How the lack of consumer-centric innovation in healthcare harms the spirit and hurts patients financially. 08:00 Thompson's privilege allowed him and his family to overcome their poor healthcare experience unscathed…how many people do not have that fortune? (The inspiration for Nice Healthcare) 09:00 Referencing the famous article, “It's the Prices, Stupid,” by the late health economist Uwe Reinhardt where he argued that high prices explain most of why U.S. healthcare costs are so much higher than those in other advanced countries. 09:45 The problem with supplier-induced demand, where a physician (i.e. the “supplier”) also serves the economic role as a consumer by generating their own demand. 10:15 Nice Healthcare is fully capitated (no fee-for-serve whatsoever) which allows it to offer unlimited virtual care and home visits, along with lab tests, drugs, xrays, and EKGs conducted in the home. 10:45 “The problem with healthcare is the unit price.” 12:00 Thompson explains the pricing inelasticity demand in healthcare and why that creates flawed incentives for consumer price gouging. 13:00 Profit maximization by increasing market share is not necessarily the modus operandi in healthcare when you can get away by charging whatever you want. 14:45 “Unless you create a completely new business model in healthcare, you are not going to change the price.”
Thought-provoking discussion on technology-enabled primary care with an innovator!Thompson Aderinkomi is currently co-founder and Chief Executive Officer of Nice Healthcare a technology-enabled primary care clinic that delivers all care in the comfort of the patient's home; contracting directly with small employers. Minnesota Governor Mark Dayton appointed Thompson to the inaugural board of directors for MNsure, the Minnesota Health Insurance Exchange in April 2013. Finally, in 2013 Thompson co-founded Healthcare.mn the Twin Cities premier organization for healthcare entrepreneurs, which has grown to over 2,000 members. From the University of Minnesota, Thompson has earned a B.S. in Economics, an M.S. in Statistics and an MBA from the Carlson School of Management. He has been married for 17 years and has two young sons.https://www.nice.healthcare/
In this talk, Thompson Aderinkomi - co-founder Nice Healthcare- will share how he has come to understand why so many of the things people know to be true about growing a successful business are simply not true. His experiences as a serial entrepreneur have taught him to question the orthodoxy and why deciding on the right course is down to you. He will leave you with an understanding of how you can ask the right questions through some very honest and personal experiences. Recorded live at Business of Software Conference USA 2019 in Boston, MA. For more great videos visit businessofsoftware.org/videos Keep up to date with all the BoS goings on with new talks, masterclasses, and speaker sessions with the newsletter. Sign up for free at businessofsoftware.org/updates --- Send in a voice message: https://anchor.fm/business-of-software/message
Carrot Shtick: Conversations About Using Data to Improve Healthcare
Kurt enjoys an energetic conversation with Thompson Aderinkomi, a luminary of the Minnesota health and entrepreneurial landscape, working on his latest venture, Nice Healthcare. Listen in as they challenge each other and you on the central question, why is healthcare so expensive? And more importantly, what can we do about it?
On Episode 7 Kevin McArdle, owner of SureSwift Capital and Jac Stark, community manager of Tech.MN welcome Thompson Aderinkomi, founder of Nice Healthcare, on The Tech.MN Podcast to talk about his collection of mistakes and where they've landed him. Bonus: He throws out an Aragron reference for the LOTR fans out there. Thompson takes us on his journey through starting new companies and what he's learned including market timing, value propositions, and market segments. His story is the healthcare version of an action feature film complete with many quotable moments. As Thompson shares his timeline with us it becomes more and more clear that his story is just beginning with the launch of Nice Healthcare from a stronger position. We chat about his obsession with company culture, the support of the MN tech and startup community, and where the name 'Nice Healthcare' comes from. Hype TimeEvery episode we ask our guest to name drop someone doing cool things in the tech community. Thompson gives a shout out to Zack Steven of Cloudburst SBC. Sponsor:Thank you to Redpath and Company CPAs. Redpath and Company is geared to best serve established or growing privately-held tech companies and their stakeholders. Visit RedPath’s Website and find out how you can get your business to the next level. Socials Tech.MN on TwitterKevin McArdle on TwitterJac Stark on TwitterThompson Aderinkomi on TwitterNice Healthcare on Twitter Links: Nice Healthcare – Thompson’s most recent startupIndie.VC Indie.vc is a 12 month program designed to fund and support founders on a path to profitability. Relate - Check out Thompson’s personal coaching startupMill City Laser – Shoutout to Thompson’s wife, Hannah’s, startup.
On Episode 1 Kevin McArdle, owner of SureSwift Capital and Jac Stark, community manager of Tech.MN welcome Casey Allen on The Tech.MN Podcast to answer the question we've all been wondering – How does he make money? We got more than we bargained for. For us, it is fitting to have Casey on the inaugural episode of The Tech.MN Podcast because when it comes to starting things up he is the OG. Casey dishes on his role in investing in and advising (very) early-stage startups, embracing failure in the midwest, launching an angel investor bootcamp, and even gets personal about the birth of his daughter. We dive into why Minnesota needs to celebrate what we are good at (Hint: It's enterprise tech) and the emergence of Casey's Enterprise Rising Conference. *Bonus* Casey discloses his fantasy dream list for a Techstars program. Any guesses?Hype TimeEvery episode we ask our guest to name drop someone doing cool things in the tech community. Casey gives a shout out to Thompson Aderinkomi of Nice Healthcare. *Spoiler Alert* we've got Thompson on the podcast this season.
On Episode 1 Kevin McArdle, owner of SureSwift Capital and Jac Stark, community manager of Tech.MN welcome Casey Allen on The Tech.MN Podcast to answer the question we’ve all been wondering – How does he make money? We got more than we bargained for. For us, it is fitting to have Casey on the inaugural episode of The Tech.MN Podcast because when it comes to starting things up he is the OG. Casey dishes on his role in investing in and advising (very) early-stage startups, embracing failure in the midwest, launching an angel investor bootcamp, and even gets personal about the birth of his daughter. We dive into why Minnesota needs to celebrate what we are good at (Hint: It’s enterprise tech) and the emergence of Casey’s Enterprise Rising Conference. *Bonus* Casey discloses his fantasy dream list for a Techstars program. Any guesses? Hype Time Every episode we ask our guest to name drop someone doing cool things in the tech community. Casey gives a shout out to Thompson Aderinkomi of Nice Healthcare. *Spoiler Alert* we’ve got Thompson on the podcast this season. Sponsor: Thank you to Redpath and Company CPAs. Redpath and Company is geared to best serve established or growing privately-held tech companies and their stakeholders. Visit www.RedpathCPAs.com and find out how you can get your business to the next level. Socials Tech.MN on Twitter: https://twitter.com/TECHdotMN Kevin McArdle on Twitter: https://twitter.com/Kevin_McArdle Jac Stark on Twitter: https://twitter.com/minneapplejac Casey Allen on Twitter: https://twitter.com/casey__allen?lang=en Links: Mpls on Deck - Casey is no stranger to recording a podcast. Binge his own podcast (currently on hiatus). Enterprise Rising - Casey’s annual conference. The place to be for enterprise SaaS startups. All startups. All enterprise. All tech. All Midwest. SEED MN - A bootcamp for angel investors. Very cool. Very exclusive. Techstars - We talk about how accelerators like Techstars are a magnet for outside investors and startups. Branch - Casey spotlights Branch as one of the fastest growing startups in Minnesota.
Thompson Aderinkomi, an innovative healthcare entrepreneur and the founder of Nice Healthcare, shares his path and quest to disrupt the healthcare industry for the greater good. Apple // YouTube // Google Play // Stitcher // Spotify // TuneIn In BTT 015, I chat with Thompson Aderinkomi, who is the founder of two startups, Nice Healthcare and Relate. Thompson shares how his desire for freedom, changing […] The post The Greater Good with Thompson Aderinkomi appeared first on Break the Twitch.
Thompson Aderinkomi joins us to talk about his fascinating journey as an entrepreneur, founder and leader.
Riffing points: What is the vibe after Beta.mn + Enterprise Rising events? -- for more see: beta.mn and Enterprise Rising Conference 2017 which happened the same week in March, 2017. RetraceHealth hitting the deadpool -- for more see: VC Backed RetraceHealth Shutting Down Public startup talks about startup failure or failing -- for more see public talks online by Thompson Aderinkomi previously of RetraceHealth, Justin Kaufenberg of Sports Engine, Carson Kipfer of Sports Engine Sports Engine exit acquisition amount -- for more see: recent news, including NBC Sports' acquisition of Sports Engine, at Sports Engine on MSPBJ. Bright Health possible funding -- for more see: recent news, including Bright Health funding, at Bright Health on MSPBJ Mednet funding -- for more see: recent news, including Mednet funding, at Mednet on MSPBJ When I Work funding -- for more see: recent news, including When I Work funding, at When I Work on MSPBJ Equals3 funding -- for more see: recent news, including Equals3 funding, at Equals 3 on MSPBJ Bitesquad funding -- for more see: recent news, including BiteSquad funding, at BiteSquad on MSPBJ Arthur Ventures busy raising a new fund -- for more see: recent news, including Arthur Ventures fundraising, at Arthur Ventures on MSPBJ