Medintro CEO Steve Shaheen Speaks on the Importance of Data-Driven Decisions

Our CEO Steve Shaheen was recently invited to speak at Harvard Business School’s 19th Annual Venture Capital and Private Equity Conference on March 1-2 in Boston. The conference hosted over 100 panelists and moderators, including key speakers Leon Black, Founder of Apollo Group Management; Stephen Pagliuca, Managing Director at Bain Capital and Co-Owner of the Boston Celtics; and Joel Cutler, Managing Director and Co-Founder of General Catalyst Partners. The theme “Navigating Change, Discovering Value” provoked attendees to consider future opportunities amidst the uncertainty of today’s economy.

With extensive operating and investing experience in emerging technology and media companies, Steve was asked to speak on the “Managing a Private Equity-Owned Company” panel.

Moderated by Professor William Sahlman – Harvard Business School’s Senior Associate Dean for External Affairs, Sahlman questioned the panelists to explore how operations are different in a company backed by a Venture Capital or Private Equity fund. Steve highlighted the importance of consistently delivering weekly Key Performance Indicators (KPIs), stating William Demming’s quote we all live by at Medintro “In God we trust, everyone else bring me data.” This consistency in metric-driven data provides him with leading indicators into the company’s financial health and promotes a culture that encourages accountability and excellence. When it comes to culture, Steve jumped on another famous quote, this time from Peter Drucker: “Culture eats strategy for breakfast.” Steve believes culture is king and extends just as much to the Board of Directors; he is strongly committed to treating the Board as a strategic partner rather than simply a reporting channel.

Steve is a Harvard Business School MBA graduate and Baker Scholar (top 5% of class) and was joined by thought-leading private equity and venture capitalists from companies like Facebook, KKR, Bain Capital, TA Associates, Carlyle, and Warburg Pincus.

 

Marketing to the Max

Patients are leveraging their access to the medical industry now more than ever through internet research and physician reviews. This patient behavior has in turn created more competition in the field. The message to medical leaders: it is not enough to just market anywhere in the medical industry. It has become increasingly important for medical professionals and community hospitals to invest their marketing spend wisely.

So how do you choose with so many marketing options available? And how do you keep your marketing cost effective while maximizing your ROI?

Which marketing solution is the best for me?
Image Source: http://www.truescope.co.uk/our-approach/

HealthCareServe.com recently completed a case study to discover which forms of marketing are most effective (measured by phone calls and website visits generated) for community hospitals. The study’s findings indicated that internet advertising is the most economic form of advertising and often the most effective at generating the best ROI. Second is TV (though most expensive), print next in line, and radio the least effective in garnering patient response.

While it can be daunting to choose your internet marketing medium(s) (i.e. Social Media, SEO, PPC, Email Marketing, etc.), it can also be the most rewarding if done right. As HealthCareServe.com mentions, just putting an ad on Google or Yahoo! will not generate the results you are looking for without the right software and guidance to manage the ad.

This is where we can help you! And the great news is that outside of e-mail and search engine browsing, heathcare/health information is the most searched topic on the web according to Junto Health. 

The real truth, then, is how can you afford to not market online?