Chief Medical Officer/Advisor School

7

Click here to load reader

Transcript of Chief Medical Officer/Advisor School

Page 1: Chief Medical Officer/Advisor School

CMO SCHOOLARLEN MEYERS, MD, MBA

SOCIETY OF PHYSICIAN ENTREPRENEURS

Page 2: Chief Medical Officer/Advisor School

DISCLOSURES

• Bridge Health (CMO)

• Cliexa (CMO)

• Cerescan (Advisor/shareholder)

• RxRevu (Advisor/shareholder)

• The Physicians Edge (Advisor)

• Csurgeries (Advisor)

• WebMD/Medscape Reference (EIC/Advisor)

Page 3: Chief Medical Officer/Advisor School

WHERE TO WORK?

• Stage: startup (98% failure rate), turnaround, realignment,

sustaining success?

• Type of company: drug, device, digital health, care delivery

• Location: Biocluster/digital health ecosystem?

• People: Trust them? Experience?

• Risk/return and success potential ?

• Your skill set/fit: Can you deliver?

Page 4: Chief Medical Officer/Advisor School

THE 7 M’S: CAN YOU DELIVER?

• Money

• Management

• Maturity/Judgement

• Monitoring the environment

• Manpower

• Marketing

• Media/Networks

Page 5: Chief Medical Officer/Advisor School

SKILLS GAPS

• 1. Product development

2. Strategic thinking/complex problem solving

3. Sales, marketing and communication

4. Financing new ventures

5. Integrating digital health solutions into existing workflow

6. Legacy EMR integration

7. Overcoming the barriers to clinical dissemination and

implementation

8. Measuring the scaleable impact of an intervention

9. Business development

10. Leaderpreneurship

Page 6: Chief Medical Officer/Advisor School

CRUCIAL CONVERSATIONS

• Whether you are a good fit

• Whether and when you can help achieve the company's next critical benchmark

• What role you will play in the company and for how long

• Whether you will have any conflicts of interest

• Approval from the other founders to participate

• Compensation

• Metrics attributable and trackable to your contributions

• Expectations about timelines and benchmarks

• How you will work with other members of team, particularly in communications, business development and engagement tactics

• Tax consequences of any equity arrangements

Page 7: Chief Medical Officer/Advisor School

QUESTIONS?

•Arlen.Meyers@ucdenver.

edu

•www.sopenet.org