Dr. Brad Pruitt shares his entrepreneurial journey, work in the digital health space, and his big vision for redefining the clinical trial world.
The ModernMD: Dr. Brad Pruitt
Dr. Brad Pruitt, MD, MBA, is a physician executive with expertise in digital health, medical device, pharma and contract research (CRO) companies. Brad is the Chief Medical Information Officer and Chairman of nPruv, a health IT company enabling a new era of predictive modeling for clinical trial patient matching and recruitment. Dr. Pruitt is also a Principle at Prucor, a management consulting firm specializing in disruptive digital health technologies, and Lecture Rady School of Management.
SUCCESS QUOTE
“Nothing in this world can take the place of persistence. Talent will not: nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not: the world is full of educated derelicts. Persistence and determination alone are omnipotent.”
Calvin Coolidge
WHITE COAT TO BUSINESS SUIT:
Brad went to medical school with a business mind and initial interest in building medical practices that would combine western and eastern medicine.
During his final year of medical school, he was given a life changing offer from a CEO of Contract Research Organization (CRO). After seeing how unhappy the residents were at his dream surgical residency program, Brad decided to take the offer.
Listen as Dr. Pruitt shares his direct transition from medical school into the business world, the reasons he got an MBA, and his current work in digital health and clinical trials.
Should you do a residency if you want to be an entrepreneur?
This decision depends on if you want to do anything with patients. There are some opportunities in the business world that require an active medical license such as being a Chief Medical Officer or Medical Director. There are plenty of opportunities that do not and you have to evaluate all the opportunity costs.
IDEA TO VENTURE:
The Idea: How do you create a marketplace to match patient and doctors with available clinical trial opportunities? Listen as Brad shares nPruv’s big vision to improve the ‘n’ in patient recruitment, create the ‘Match.com’ of the clinical trial world, and provide everyone with access to clinical trails.
Challenges: It is hard to be a first time MD entrepreneur with no track record.
Success: Creating a successful pricing model to get into clinical practices.
Lesson Learned: Spend time working with customers to better understand their needs to push your product forward.
BUSINESS ROUNDS:
Best Advice: Jim Collins Hedgehog Model – Find something you are the best in the word at, you are passionate about, and drives our economic engine.
Daily Success Habit: Keep yourself healthy and sustainable – Block personal time everyday to get away from work.
Healthcare Trends: Dr. Pruitt shares the power finding the knowledge within the data, focusing on data that changes opinions or treatment, and having the right data, at the right time, and that can be shared between the physician and the patient.
