Not every pivot is a bad pivot w/ Ruchin Kansal
The COVID-19 pandemic has affected how healthcare business is done.
But there are constants that never change: a patient (person) who needs care and the whole healthcare system that is (hopefully) designed to take care of the patient in the best fashion.
Pre-pandemic healthcare saw quite a bit of disruption from outsiders who saw opportunities to disrupt the system, as-is, and technologies looking to bring in new efficiencies.
Opportunities might arise, and pivots might be necessary - and lucrative - if you keep an open mind and remain pragmatic.
In today’s episode, Ruchin Kansal shares his thoughts on the changing dynamics of how healthcare does business in a post-COVID landscape.
Ruchin brings his experience with pivots - both personal and professional - to life for our listeners. He pairs his knowledge with humor and an abundance of tips and insights on the changing face of healthcare and the opportunities these changes bring to the table.
Here are the show highlights:
This is how the pandemic is affecting innovation and healthcare (2:50)
The COVID crisis has disrupted the status-quo way of thinking about how healthcare done in the United States (4:55)
Breaking long-standing barriers in telemedicine (5:05)
The CEOs of today are the kings of the past: Why leadership might be the key to making changes stick (5:38)
This is the new normal in healthcare (6:52)
Do you have to pivot your whole business? Heck no! (8:48)
Don’t be afraid to leave what was - but do your due diligence (12:50)
Not every pivot is a bad pivot (and you don’t need to pivot everything!) (15:55)
The “Unicorn Business” and adjusting commercial models (16:49)
I've spoken with dozens of health innovators, and nearly everyone is trying to figure out their best pivot strategy. But they don't know what to change, how to pivot, or if their new pivot strategy is the right move.
So I went into overdrive putting together a clear, actionable 5-step worksheet that will help you quickly define your most viable and profitable pivot path through the COVID crisis. And I’m giving it to you for FREE — no strings attached at legacy-dna.com/pivot
Guest Bio
Ruchin Kansal is the Founder of Kansal & Company, a consulting firm that coaches transformative leaders and companies in the art of how to find new markets and co-create with investors and entrepreneurs so they can build a better future of healthcare.
Finding “new markets” is old school for Ruchin who is an airforce pilot turned architect turned MBA - he is no stranger to the term “pivot.”
Ruchin earned his MBA in Finance and Information Systems from the NYU Stern School of Business and is using his experience and expertise to help others in the business world reach their full potential.
In addition to his decades-long career in the industry and his work with Kansal & Company, Ruchin is also co-author of the book Redefining Innovation: Embracing the 80-80 Rule to Ignite Growth in the Biopharmaceutical Industry, which examines the evolution of the biopharmaceutical industry and defines a potential pathway for transforming the industry’s business model via the 80-80 Rule - "Being 80% confident that you will only be 80% right the first time should feel normal."
If you want to reach out to Ruchin to learn more about how Kansal & Company might help you, or to simply ask questions, you can reach him at ruchin@kansal3c.com, on the Kansal & Company website at kansal3c.com or on LinkedIn at Ruchin Kansal.