Given your investment background, what attracted you to the healthcare sector?
I started as a generalist but was quickly drawn to healthcare for its impact potential and complexity. There are few, or maybe no other industries, where the impact on people’s lives, especially at times of vulnerability or fear, is so great. And through its complexity and breadth, healthcare offers countless opportunities to drive change for the better. At Echo, we’ve built a platform to drive transformation by connecting healthcare’s early-stage innovation economy to some of its largest and most forward-thinking payers.
Where do you see the largest long-term growth potential in healthcare?
I believe the industry’s biggest growth opportunity is driving a better, more person-centric experience through deeper collaboration between payers and providers. Much of our portfolio has been built around a thesis that we can deliver better outcomes to healthcare consumers through shifts to appropriate sites of care, deeper alignment with primary care, and innovative specialist models that incentivize and support appropriate care delivery. We don’t believe that payment models should inherently result in a zero-sum game for all stakeholders, and the support of innovative care delivery through deep payer partnerships can ultimately achieve the Quadruple Aim.
What do you look for in investment targets?
In our portfolio, the strength of the target’s management team has been the strongest predictor of success. This can be difficult to underwrite, because it can’t be determined through spreadsheets or other documentation, but it’s a critical consideration when evaluating new partnerships. Additionally, we always emphasize the new partner company’s potential to deliver an enduring value proposition to the healthcare ecosystem. We believe, and have seen, that those companies driving the largest impact have the best potential for return.
How would you describe your leadership style?
My style is based on mutual trust with all my colleagues. We have a fantastic team at Echo, and while I’m always around to provide feedback or guidance, I know I can trust my teammates and never have to micromanage.
What advice would you give to other emerging leaders?
Don’t shy away from failure. It should be embraced as a learning opportunity and, for us, is an indicator that we’re taking on the right amount of risk and aiming high enough. We like to say that if every investment is successful, we aren’t taking enough risk or trying to make a big enough impact. Sustainable healthcare transformation through venture investing is inherently difficult, and our greatest successes are often born out of prior failures.