Interested in starting your own entrepreneurial journey in digital healthcare but unsure what to expect? Then read up on the Go Solo Article by Subkit with Kamal Jethwani, Co-Founder & CEO of Decimal.health, on his journey.
What’s your business, and who are your customers?
We help digital health companies understand how to achieve product-market fit with all the different stakeholders they can sell to (hospital systems, health insurance companies, pharmaceutical companies, employers, etc.), develop go-to-market strategies for them, as well as help them gain their first few customers within that strategic focus. We also provide advice on market access enablers like regulatory and reimbursement strategies.
Tell us about yourself
I spent 15 years at one of the largest health systems in the country, leading the charge on digital innovation. My role required me to explore ways to improve the care we delivered to our patients by leveraging digital tools. As a physician myself, I was excited about how digital health could bring a paradigm shift in care delivery – ranging from improving access to care for those who need it to shift the ways in which doctors and nurses interact with patients. The ubiquity of personal sensors and wearables is making millions of data points about you available at the touch of a button – we can get a lot more proactive about caring for you if we leverage that information correctly, as an example. I am passionate and excited about not letting these technological advances get missed by healthcare altogether – I think there is no better mission than to help all of us live healthier lives via more intelligent, proactive, and personalized care.
What’s your biggest accomplishment as a business owner?
I happened to fall into starting my business by accident. I was not intentional about it or even strategic (ironic for a strategy consulting shop!) – but I landed 7 projects within the first 41 days of starting my company, which was quite shocking! My biggest accomplishment since then has been to ensure fairly steady (and sometimes steep) growth for the company. We are 25+ strong today, in just 2.5 years, and have an over 80% renewal rate with our clients, which to me, is our truest testament to the value we bring to them!
What’s one of the hardest things that comes with being a business owner?
I started this business to do what I loved doing – helping companies figure out their barriers to growth, and apply our creativity and knowledge to help them overcome these challenges. As a business owner, however, a good amount of my time is spent worrying about business realities (finance, HR, operations, business development, marketing etc), along with the core business of delivering work to our clients. Also, being a ‘people’ business as a consulting company, it’s hard to balance the demand and supply ratio of incoming business and available capacity. I have been on both sides of that equation, and they are both equally painful. One day I’ll figure out how to solve that, and return fully to just working on our core mission!
What are the top tips you’d give to anyone looking to start, run and grow a business today?
- Value creation is the most important predictor of ongoing success – spend your first year just figuring out where you create value and how your clients perceive or monetize that value. Once that code is cracked, business, margins, and other things will follow.
- No matter what the business is, your people are your biggest assets. Hire smart people with the right experience and mindset, and treat them well! With a great team by your side, nothing is impossible!
- Entrepreneurship can be a lonely sport – find ways to seek support either within or outside your company, and learn that it is ok to seek help and share failures even within your team.
Connect with Kamal:
Twitter: https://twitter.com/kamalj83
LinkedIn: https://www.linkedin.com/in/kamal-jethwani/
