By: Joshua Finley
As concerns about the impact of COVID-19 on the U.S. economy recede, the startup sector has roared back to life. Nowhere has this been more apparent than in healthcare. According to a recent report by Rock Health, the first half of this year saw digital health startups rake in $5.7 billion courtesy of 266 deals.
Technology healthcare startup founders are understandably excited about the financial taps being turned back on, but there are some reasons to be cautious. An increasingly competitive environment means that health startups need to bring their A-game if they are going to enjoy the benefits of increased funding opportunities. Increased competition means that startups must identify (and leverage) professional advisors with a proven record of success.
One such advisor is Jon Belsher, who has extensive experience advising healthcare technology startups.
Healthcare and Personal Evolution
Those who first meet Jon are struck by his likability, warm smile, and steely resolve to make a difference in patients’ lives via the impact of healthcare technology startups.
A dedication to service has defined Belsher’s life for three decades. Inspired by his physician father, Belsher pursued a career in medicine, which included a rewarding foray into politics, 13 years as a flight surgeon and Chief of Aerospace Medicine for the Arizona Air National Guard’s 162nd Fighter Wing, and running major healthcare organizations from the C-suite.
Photo Courtesy: Dr. Jon Belsher
A Philosophy of Service
Dr. Jon Belsher has devoted his life to service and continues to do so by providing advice and consultancy services to a wide array of clients in the healthcare technology startup environment.
“Leadership was something that was always part of my life. I had incredible parents, and when my father passed away from lung cancer, the idea of leading by example really sank in. At 18 years old and the eldest of four brothers, being a leader became second nature.”
Dr. Jon Belsher’s father’s impact on his life is indisputable. After studying at Amherst College in Massachusetts, he transferred to the University of Arizona to be closer to his brothers and mother following his father’s untimely death. He studied political science there, given his respect for the U.S. and its freedoms. He also served a U.S. Senator as an intern. It was at this time that he began to carefully think about his future.
A New Era
After graduating, Jon Belsher felt the lure of Washington following his foray into political science at the University of Arizona. During the George H.W. Bush administration, he served as an advance representative for the White House and traveled the U.S. and the globe. In this position, his attitude towards service and helping others began to mature.
As the winds of political change signaled an impending shift in administrations, while others enrolled in law school, Dr. Belsher had different plans. He was convinced that the healthcare industry was going to undergo a not-so-quiet revolution. New technologies were disrupting traditional approaches, patients were clamoring for access and convenience, and the field was favorably becoming increasingly competitive.
A Firm Foundation
The possibilities offered by this radically changing healthcare environment reinforced Dr. Belsher’s passion for helping others, leading him to choose a medical career over a political one. While his peers pursued Ivy League law degrees, he enrolled at the University of Texas Southwestern Medical School, earned his Doctor of Medicine, completed his residency at the Mayo Clinic in Scottsdale, AZ, and a fellowship at the Mayo Clinic in Rochester, MN.
Dr. Belsher’s career progressed to include roles such as Staff Intensivist and Assistant Professor at Scott & White Healthcare, Director of Medical Operations at WhiteGlove Health, and Chief Medical Officer at Extensor Health, a telemedicine-focused company.
Photo Courtesy: Dr. Jon Belsher
At the Cutting Edge
Dr. Jon Belsher currently advises healthcare technology startups through every stage of their growth. His extensive experience is invaluable to these companies as they navigate the complexities of securing investment, scaling, and exiting either through a sale or IPO in today’s fast-paced, competitive environment.
Belsher thrives in the startup world, where he can leverage his skills and firm belief in the transformative power of medical technology.
“My years as CEO and Chief Medical Officer at multinationals taught me that large organizations are like cruise ships; they take a long time to change direction. In fast-moving sectors like medical technology, that means falling behind. A startup, by contrast, is like a nimble sailboat — if managed and steered correctly.”
“The last thing you want to hear in an organization requiring change is ‘it’s the way we’ve always done it,’” Belsher adds.
“You need to read the market, react to it, and, importantly, listen to your people. Every startup must be cognizant of its strengths and weaknesses and leverage its team, regardless of titles or qualifications.”
Belsher, echoing many industry experts, notes that startups often lack the time, bandwidth, or specialized skills to focus on market needs. In order to be successful, healthcare technology startups must make a strong clinical and business case for their product or service.
The Recipe for Startup Success
After decades of founders and CEOs seeking his sage advice based on his wealth of experience, Dr. Jon Belsher today consults with CEOs and startup founders of early-stage healthcare technology startups on how to position their products and solutions and go to market.
Around 90% of startups fail, and healthcare technology startups are no different. Identifying success factors is something that Jon Belsher excels at, given his experience at the bedside as well as in the C-suite.
“The market is incredibly complex, and market segmentation is essential. Many startups fall into the trap of losing sight of their product or service’s key utility. They end up developing solutions solely for the sake of innovation and sidelining the needs of patients, providers, payers, and other stakeholders, including regulators. At the same time, healthcare startups rely heavily on venture funding, so simply innovating for the sake of innovation, without a clear path to profitability, is a show-stopper.”
Healthcare startups in the seed or series A phases of their evolution have a variety of substantial challenges to overcome. With a track record of success, Dr. Jon Belsher’s experience allows him to provide insights that can assist startups in navigating the complexities of bringing a product or service to market.
To learn more about Jon Belsher’s track record and skillset, visit his LinkedIn page or website.
Published by: Khy Talara
