How to become a surgeon entrepreneur (w/ Dr. Joshua Ammerman - Neurosurgeon & Founder of Combospine)

I'm joined by Dr. Josh Ammerman, Founder and CEO of ComboSpine, as we explore the journey from practicing neurosurgeon to medtech entrepreneur and the challenges of building a successful startup in the spine surgery space.

In this episode, we breakdown:

1. The Physician Entrepreneur's Journey
→Transition from clinical practice to medtech innovation
→Importance of surrounding yourself with the right team and resources
→Recognizing the need for business skills beyond medical expertise

2. Navigating the Regulatory Maze
→Building strategic partnerships and avoiding common pitfalls
→The value of a holistic approach to product development
→Importance of considering market dynamics and regulatory constraints

3. Mastering Value Analysis Committees (VACs)
→Evolution of VACs and their impact on purchasing decisions
→Strategies for developing clinical champions
→Tailoring your approach to different hospital contracting models

4. Fundraising in a Challenging Climate
→The importance of storytelling and persistence in pitching
→Value of lead investors and maintaining investor relationships
→Balancing clinical expertise with business acumen in presentations

5. Building a Culture-Centric Startup Team
→Focusing on shared values and work ethic
→Importance of responsiveness and ethical behavior
→Extending company culture to distributors and partners

Best Quotes:
"As a physician entrepreneur, I have absolutely no training in anything but the surgical skills. No one ever taught me how to found a business, how to raise money, how to build a team, pursue intellectual properties, build a business plan. We don't teach doctors how to do that."

"First dollars are way harder than last dollars. Getting to the 50-yard line on your fundraising opens up all sorts of opportunities."

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FIND SPENCER JONES ON SOCIAL
LinkedIn: https://www.linkedin.com/in/spencer-jones-...
XO Medtech Linkedin: https://www.linkedin.com/company/xo-medtech

FIND DR. JOSH AMMERMAN ON SOCIAL
LinkedIn: https://www.linkedin.com/in/joshua-ammerma...
Combospine Linkedin: https://www.linkedin.com/company/combospine/
ComboSpine: www.combospine.com

Episode Timestamps:
0:00 - Introduction to Dr. Josh Ammerman and ComboSpine
4:45 - The Physician Entrepreneur's Journey
9:42 - Navigating the Regulatory Maze
14:55 - Mastering Value Analysis Committees (VACs) and selling into hospitals
23:45 - Fundraising in a Challenging Climate
31:32 - Building a Culture-Centric Startup Team