Episode 23: Innovating for the Future
Bo Barholowmew, CEO of EvidenceCare, explains how his company is disrupting healthcare to improve patient outcomes.
Bo Bartholomew recognizes that innovation is often met with resistance, but he believes that the benefits are greater than the obstacles.
Bartholomew is the CEO of EvidenceCare, a workflow-embedded software that provides pathways and protocols in a format that’s easy for physicians to access at the point of care.
In part two of this two-part episode of How I Transformed This, Virsys12 founder and CEO Tammy Hawes and her co-host Clark Buckner talk with Bartholomew about the disruption EvidenceCare is creating. Bartholomew also shares the three key factors he always looks for before investing in a company.
The healthcare industry has fallen behind when it comes to technological innovation, but Bartholomew thinks that is finally starting to change.
“I believe over the last decade and over the next two or three, we’re only seeing technology take a hold and grip and be able to facilitate the enormous complexity of healthcare,” he shared.
Bartholomew compared healthcare to the finance industry, where technology is at the center of every process and activity. The development of a similar infrastructure is vital for healthcare, Bartholomew argued, because providers should take advantage of whatever tools they can to improve patient experiences and outcomes.
“No two patients are alike. No two protocols are alike. And so we have to think about the patient, put the patient first, and then build the systems and the technology around that,” he explained.
Focusing on the Outcomes
To help overcome people’s natural resistance to change, Bartholomew chooses to focus on the simple fact that EvidenceCare is helping people do their jobs better.
After all, he explained, failing to provide doctors with the proper tools and protocols is like asking pilots to fly blind; They may complete the flight successfully, but you get more consistent outcomes when they use all the resources at their disposal.
“When you follow standards of care, patient outcomes improve. So not only can you reduce costs at the hospital, but you can improve patient clinical outcomes and improve clinical patient experience.”
Rather than turning doctors into a piece of machinery in a larger system, Bartholomew believes providing doctors with better tools will allow them to focus more time and energy on their interactions with patients, which are vitally important to the clinical process.
“We who work in healthcare need to bring better tools, so that they can be back at the front and center, looking patients in the face, telling them they’re going to be OK and giving them a plan,” he said. “That’s why EvidenceCare exists.”
Three Keys to a Successful Startup
As other healthcare innovators look to develop new companies and technologies, Bartholomew — who is also a seasoned investor — shared his insight into the three key factors that he always looks for before investing in a company.
First, every business needs a good group of people to succeed, no matter how large or small the company is.
Second, a good company needs a clear purpose, a reason for existence that contributes to society.
Finally, a company needs to be able to make a profit so that it can continue on.
In all of these three areas, Bartholomew believes it’s important to make sure you’re adding value for all stakeholders, including employees, clients, families, partners and the industry as a whole.
“We need to be creating value that is honestly worth paying for,” he said. “I don’t ever want to be involved in a company that’s just there to make money and nothing else.”
Subscribe to How I Transformed This wherever you get your podcasts, and be sure to sign up for our quarterly email newsletter to stay up to date on Virsys12’s latest transformational work.