Episode 102: Building a Digital Front Door Healthcare Solution by Bootstrapping with Keith Algozzine of UCM Digital Health
Keith Algozzine, Founder and CEO at UCM Digital Health joins co-host Ledge for an insightful discussion on starting your business. UCM Digital Health is a revolutionary player in transforming healthcare. It does this by taking the burden off the ER and into the digital space.
Healthcare is a complex sector. Regulatory, legal, and technological issues all contribute to this, as well as the stress of impacting actual human lives. Algozzine sees the business problems from these complexities as great opportunities. This is what inspired him, as a healthcare professional, to proactively find a solution.
He shares the importance of leveraging your expertise and experience when founding your company. In the case of UCM, Algozzine saw that his team’s strength was in their expertise in ER and patient care, so they focused heavily on these areas. This allowed them to create a minimum viable product that was technologically bare-boned but carried a lot of value in terms of patient value.
One very important lesson from UCM’s startup journey was its heavy focus on bootstrap methodology. The company took an extremely conservative approach, using revenue as its capital. Founders who use this method place immense value on their customers and their products. Algozzine thinks this is a key differentiator for them; He only devoted his full-time energy after hitting the $1 million run rate milestone in year three.
Startup founders can gain an immense understanding of the importance of bootstrapping and how to pull it off from this episode.
LinkedIn - https://www.linkedin.com/in/keith-algozzine-4a5996a7/
LinkedIn - https://www.linkedin.com/company/ucmdigitalhealth/
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