39: Innovation from the Public to Private Sector
Meet Brad Smith:
Brad Smith is the Founder and CEO of Russell Street Ventures. He was also the Co-Founder and CEO of Aspire Health. He served as Chief Operating Officer of Anthem’s Diversified Business Group. In government, Brad served as Deputy Director of the White House Domestic Policy Council, Senior Advisor to the Secretary of the U.S. Department of Health and Human Services (HHS), Deputy Administrator at the Centers for Medicare and Medicaid Services (CMS), and Director of the Center for Medicare and Medicaid Innovation (CMMI).Brad received an undergraduate degree from Harvard University and a Master of Philosophy from Oxford University.
Key Insights:
Brad Smith has experiencing innovating in healthcare from government to venture capital.
- Taking the Leap. Brad credits his path to entrepreneurship to great mentors that encouraged him to take big risks, and to his work in government and non-profits. He had experience bringing people together and rallying them around a common vision, which is fundamental to building a company.
- Partnerships Instead of Disruptions. Healthcare is full of big players on both the payer and delivery side; innovators need to accept the healthcare landscape. Disrupting the status quo is challenging. Instead, Brad encourages aspiring entrepreneurs to think about a partnership path, helping large organization effectively leverage their size and scale.
- On the Horizon.Brad is focused on three things. One, maintaining the United States as the forefront of innovation. Two, addressing chronic conditions, which are burdensome on individuals, as well as the system. And three, decreasing healthcare costs.
This episode is hosted by Laura Veroneau. She is a member of the Advisory Council for Day Zero and is a Managing Partner and Founding Team Member of Optum Ventures.
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