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The US healthcare market is a big, complicated one. It’s fragmented, it’s large, with long sales and feedback cycles, making it difficult to innovate and bring about change at scale, especially that which the venture model would be patient enough for.
My guest today is Rob Coppedge, CEO of Echo Health Ventures, the CVC unit investing on behalf of the Echo Innovation Alliance, a strategic collaboration between a number of US healthcare providers.
He talks about how, in the face of many stubborn system-level challenges endemic to its sector, Echo Health Ventures’ own challenge is, more than anything, finding ways to accelerate time to market for its startup companies, such that they could make an impact in such an intractable industry.
He emphasises that what the sector needs is not more venture money itself, of which it has plenty. What it needs is more and better value add, which is where corporate VC can really make its mark.
But how can you measure impact? How can you get people to agree to stack more metrics on top of the ones they’re already accountable for? Who’s ultimately responsible for outcomes? Innovating in a truly impactful way will require answers to all these questions.