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Conversation
Highlights

 

Welcome to another episode of Category Visionaries — the show that explores GTM stories from tech’s most innovative B2B founders. In today’s episode, we’re speaking with Justin Dearborn, Founder & CEO of Praia Health, a healthcare technology platform that has raised $20 Million in funding.

Here are the most interesting points from our conversation:

  • Consumer-Centric Healthcare: Justin explains how Praia Health is creating a digital journey for patients that mirrors consumer experiences outside of healthcare, aiming to enhance convenience and personalization.
  • Telehealth and Digital Adoption Post-Covid: The pandemic accelerated the adoption of telehealth and digital solutions in healthcare, with patients increasingly choosing providers based on their digital experiences.
  • Founding Story and Unique Incubation: Praia Health was incubated at Providence Health System’s Digital Innovation Group, which identifies technology gaps, builds solutions, and then spins them out as separate companies.
  • Go-To-Market Strategy: Praia Health employs both direct and indirect strategies, targeting innovative health systems and partnering with established companies to enhance existing investments in patient engagement.
  • Sales Process in Healthcare: Selling to health systems is complex and lengthy, involving numerous stakeholders and stringent security assessments, but Praia Health’s mature platform simplifies implementation and integration.
  • Fundraising Challenges: Fundraising in the current climate is challenging, but Praia Health successfully secured funding from notable venture firms with healthcare system LPs, emphasizing the importance of showing a strong ROI

 

Actionable
Takeaways

Focus on Patient Experience:

Prioritize creating a consumer-centric digital experience in healthcare to attract and retain patients, leveraging technology to offer convenience and personalization.

Leverage Partnerships:

Collaborate with established companies to enhance your go-to-market strategy and integrate your solutions into existing infrastructures, providing a "better together" story.

Simplify Implementation:

Develop a mature, easy-to-integrate platform to streamline the implementation process for health systems, reducing the burden on IT departments and accelerating deployment.

Showcase ROI:

Clearly demonstrate the return on investment for your solutions, especially when selling to health systems, which require compelling financial justifications for new technology investments.

Be Open to Pivoting:

Stay nimble and responsive to market feedback, being prepared to pivot your strategy or product offering to better align with market needs and opportunities.

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