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Todd Johnson, a serial healthcare information technology entrepreneur committed to building great products, teams and companies. Todd has a track record of cultivating great ideas and great business that offer incredible company cultures and attention-grabbing brands. Before his current company, HealthLoop, Todd was the founder and CEO of Salar, a Baltimore, MD-based provider of acute care physician charge capture and documentation solutions.\\xa0

Famous Five:

• Favorite Book? \\u2013 The E-Myth Revisited
• What CEO do you follow? \\u2013 Donald Trump and Elon Musk
• Favorite online tool? \\u2014 Gmail, Boomerang and Inbox
• How many hours of sleep do you get?\\u2014 7
• If you could let your 20-year old self, know one thing, what would it be? \\u2013 Todd wished he could have took things less seriously

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Time Stamped Show Notes:

• 01:59 \\u2013 Everyone needs healthcare at some point in their life
• 02:30 \\u2013 Salar was able to replace paper processes at hospitals
  • 03:08 \\u2013 Salar was sold to the country\\u2019s second largest medical transcription company
  • 03:16 \\u2013 It was a $15M exit
• 03:40 \\u2013 Todd lives in Silicon Valley
  • 03:57 \\u2013 Todd has a couple of reasons why he chose to rent rather than to buy a property
• 04:37 \\u2013 HealthLoop was initiated in 2009 and was an idea for over a year
• 04:51 \\u2013 Todd joined HealthLoop in 2013
• 04:49 \\u2013 The founder is a doctor from San Francisco
  • 05:50 \\u2013 He\\u2019s still part of the board
• 06:28 \\u2013 HealthLoop is a platform that automatically pushes notifications before and after a diagnosis or surgery
  • 06:40 \\u2013 It connects patients and doctors
• 07:00 \\u2013 5 years ago, there\\u2019s no model around improving the quality of care
• 07:38 \\u2013 Multiple parties benefit from an improvement in health care
• 08:28 \\u2013 In order to retain the trust of the patients, you have to gain the doctor\\u2019s trust as well
• 08:46 \\u2013 HealthLoop has an enterprise subscription model
  • 09:03 \\u2013 Average contract is $120K to $150K that can escalate year over year
  • 09:21 \\u2013 They pre-pay the cases that they might have in a year
• 10:28 \\u2013 HealthLoop\\u2019s customers are very targeted
• 10:35 \\u2013 The expansion per area depends on how the incentive shakes out
• 10:50 \\u2013 HealthLoop is currently working with 70 groups and 20 hospitals
• 11:13 \\u2013 HealthLoop has an older subscription model which some of their existing clients have
• 11:30 \\u2013 HealthLoop has raised $21M
  • 11:44 \\u2013 HealthLoop is in an attractive space for competition
  • 12:20 \\u2013 They have 90% annual retention
• 12:43 \\u2013 The institutional mindset
• 13:08 \\u2013 Team size is 40
  • 13:18 \\u2013 8 are in the sales team
• 13:53 \\u2013 HealthLoop\\u2019s current enterprise sales cycle is around 6-7 months on a 120 ACV
• 14:16 \\u2013 CAC is quite high
  • 14:55 \\u2013 There are many competing organizations in the market
• 15:34 \\u2013 LTV will depend per organization
• 16:07 \\u2013 Todd is seeing a 150% growth from last year in terms of ARR
• 16:38 \\u2013 There\\u2019s so much unpredictability in the space which can be a bad thing
• 17:31 \\u2013 Hospitals need to be thoughtful about spending cash
• 17:49 \\u2013 HealthLoop will spend more on adapting to a new management
• 18:17 \\u2013 HealthLoop\\u2019s gross margin is around 70%
• 20:33 \\u2013 The Famous Five

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3 Key Points:

1. There\\u2019s not enough consumer tech that is solely dedicated to healthcare.
2. At least once in our lifetime, we will need healthcare, and the ability to have a quick, back-and-forth communication with your health provider is powerful.
3. Because of the aging baby boomer population, healthcare is an incredibly attractive space for investors right now.

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Resources Mentioned:

• The Top Inbox \\u2013 The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
• GetLatka - Database of all B2B SaaS companies who have been on my show including their revenue, CAC, churn, ARPU and more
• Klipfolio \\u2013 Track your business performance across all departments for FREE
• Hotjar \\u2013 Nathan uses Hotjar to track what you\\u2019re doing on this site. He gets a video of each user visit like where they clicked and scrolled to make the site a better experience
• Acuity Scheduling \\u2013 Nathan uses Acuity to schedule his podcast interviews and appointments
• Host Gator\\u2013 The site Nathan uses to buy his domain names and hosting for the cheapest price possible
• Audible\\u2013 Nathan uses Audible when he\\u2019s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books

Show Notes provided by Mallard Creatives