Do Physicians Make the Best Startup Founders? (with Dr. David Lortscher)

This week Kristin and I are talking business; specifically, how doctors go from having a great idea to actually building a company around it. We're joined by Dr. David Lortscher, a board-certified dermatologist, co-founder of Curology, and author of Why Doctors Win: The Doctor's Guide to Creating or Joining a High-Impact Startup. David breaks down why so many of the most successful healthcare companies of the last few decades, including Intuitive Surgical, Gilead, Regeneron, UpToDate, were founded or co-founded by physicians. He makes the case for why more doctors, nurses, PAs, and other clinicians should be in the room when healthcare companies get built, instead of leaving it entirely to people with zero patient care experience. We get into the real differences between venture capital and private equity, what VCs actually look for before funding a startup, and the story behind how David built Curology, including the surprisingly counterintuitive pay structure that helped it scale to treating millions of patients. Kristin and I also talk about our own version of this, how she basically became CEO of Glaucomflecken so I could keep doing what I actually want to do, which is make dumb videos and still practice ophthalmology four days a week. Takeaways: Over half of the top 100 most successful healthcare startups founded in the last four decades had a physician founder or co-founder. Venture capital funds early-stage companies with high growth potential, while private equity typically buys existing businesses and tries to make them more efficient, often through cost-cutting. A successful startup needs both a transformational product and a clear path to winning the market, not just a clever idea. Physicians don't need to quit clinical practice to start a company if they have a good support system and trusted co-founders. The two things every successful startup needs are a truly transformational product and a clear path to winning over the market. — Want more Dr. David Lortscher? LinkedIn: https://linkedin.com/in/DavidLortscherMD X (Twitter): @DavidLortscher To Get Tickets to Wife & Death: You can visit Glaucomflecken.com/live We want to hear YOUR stories (and medical puns)! Shoot us an email and say hi! knockknockhi@human-content.com Can’t get enough of us? Shucks. You can support the show on Patreon for early episode access, exclusive bonus shows, livestream hangouts, and much more! –⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ http://www.patreon.com/glaucomflecken⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Also, be sure to check out the newsletter: https://glaucomflecken.com/glauc-to-me/ If you are interested in buying a book from one of our guests, check them all out here: https://www.amazon.com/shop/dr.glaucomflecken If you want more information on models I use: Anatomy Warehouse provides for the best, crafting custom anatomical products, medical simulation kits and presentation models that create a lasting educational impact. For more information go to Anatomy Warehouse DOT com. Link: https://anatomywarehouse.com/?aff=14 Plus for 15% off use code: Glaucomflecken15 As a proud FIGS Ambassador, visit https://WearFIGS.com and use code DrGFIRSTFIGS to shop, stay updated on new launches, and learn more about FIGS advocacy projects. Check out FIGS on social platforms: @wearfigs To learn more about Microsoft Dragon Copilot, visit: ⁠http://aka.ms/knockknockhi ⁠ -- A friendly reminder from the G’s and Tarsus: If you want to learn more about Demodex Blepharitis, making an appointment with your eye doctor for an eyelid exam can help you know for sure. Visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠http://www.EyelidCheck.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ for more information. To get your Henson Razor go to ⁠hensonshaving.com/knockknockhi⁠ and use code knockknockhi to receive 100 blades for free with the purchase of a razor. Produced by⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Human Content⁠⁠⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices