5 Questions with Goodroot’s Amplified Services Leaders
Scott Wilson is a seasoned healthcare industry veteran with over twenty-five years of experience. He currently serves as VP of Product Development and Strategic Alliances at Goodroot, where he is responsible for bringing new ideas to market and building partnerships with other mission-aligned companies in the industry. Scott is also Goodroot’s brand ambassador, and often the first point of contact for healthcare entrepreneurs seeking to innovate further and faster within the Goodroot community.
Q: With over twenty years of experience in the healthcare industry, how do you leverage your unique and vast experience to help affiliates launch new products?
A: The healthcare industry is truly a labyrinth of complexity with multiple stakeholders, each often having opposing goals. Hospitals want to maximize revenue from patient care while health insurance companies want to minimize cost and utilization. When it comes to assisting our affiliates with new product launches, I draw upon my experience—having worked with a wide range of healthcare stakeholders—to offer multiple perspectives. I can anticipate the viewpoints of various stakeholders such as hospitals, health plans, PBMs, and patients, providing foresight that can influence a product’s positioning and potential success. Ultimately, what I contribute to the Goodroot team is a multi-faceted lens that allows us to create and market products that are truly positioned for success in the marketplace.
Q: How do you decide on strategic alliances for Goodroot and affiliates?
A: At Goodroot, we pride ourselves on being an innovative force in healthcare. Our aim is to make U.S. healthcare more affordable and accessible, and to do this, we seek alliances with companies that share our ethos of prioritizing healthcare affordability. The more strategic partnerships we make, the greater the leverage we have at reinventing healthcare. There’s certainly power in numbers, but they must be the right partners, who want to do well while doing good. My diverse background has equipped me with the knowledge and perspective to recognize the potential in such strategic alliances. It’s why I take pride in being Goodroot’s ‘brand ambassador,’ bringing in partners and entrepreneurs who align with our mission and can help us change an industry that’s historically been resistant to change. Ultimately, the success of a potential strategic alliance with Goodroot hinges on the people involved. It’s the character, personality, drive, and ‘fit’ of the leadership that truly solidifies a partnership.
Q: Can you elaborate on the process of choosing which businesses to build and grow at Goodroot?
A: We’re extremely intentional about the businesses we choose to build and grow. Our core focus areas, reducing pharmacy costs, reengineering health benefits, redefining administrative efficiency, realigning healthcare incentives and removing cost barriers are at the heart of every business we choose to invest in. And when I say invest, I’m not just talking about a financial investment—there’s more to venture than just capital. We invest everything we’ve got into the entrepreneur and their company. So, if you’re reading this and have an idea that falls into one of our focus areas, let’s have a conversation. Some of our most fruitful collaborations have sprung from an initial chat over a meal or an informal interview. Once an entrepreneur joins our community, the process is twofold. First, there is the supporting value of our existing affiliates. They bring an extensive network of satisfied clients who, based on their positive experiences, are often eager to engage with other companies within the Goodroot ecosystem. Secondly, we give them ‘amplified services’—a team comprised of professionals who are not only at the top of their respective fields, but also have a deep understanding of the healthcare landscape. From a seasoned sales team that eliminates the trial and error of finding the right sales rep, to a marketing team adept at distilling complex concepts into digestible insights, we offer essential services to supercharge your company’s growth. We also supply world-class accounting, finance, legal, IT, talent and product development services to all of our affiliated companies. Our goal is to eliminate low-value distractions and allow the entrepreneur the precious time needed to focus on ‘making their donuts’. What we offer at Goodroot is more than just a platform. It’s an ecosystem of strategic alliances and resources to fuel your entrepreneurial journey in healthcare.
Q: What makes you decide whether an entrepreneur would be a good fit for the community?
A: At Goodroot, we have a culture of intense drive and determination. We’re looking for individuals who can match that drive while launching innovative healthcare solutions into the marketplace – and have fun along the way. We need people who are not only ready to celebrate the highs but are also prepared to roll up their sleeves and dive into the trenches during challenging times. This resilience and tenacity, paired with the shared mission of improving healthcare, make an entrepreneur a perfect fit for our community.
Q: How does your personal commitment to tackling the high cost of healthcare influence the way you approach product development and strategic alliances at Goodroot?
A: While we frequently discuss the financial burdens of healthcare, it’s important to acknowledge that the clinical quality of care has become exceptional in the US. But for many patients, the financial burden after receiving care can be debilitating. The feeling of approaching your mailbox, knowing that an unpredictable medical bill awaits—which could significantly disrupt your family’s financial stability—is terrifying. When you realize that medical debt is a leading cause of bankruptcy in the U.S., the magnitude of the problem becomes even more apparent. This insight into the financial burden patients bear is what fuels my commitment. At Goodroot, we’re continually exploring innovative ways—products, solutions and partnerships—to make healthcare more affordable. We understand that every effort we make brings us one step closer to alleviating this tremendous burden.
Bonus Question: What advice would you give a new entrepreneur in healthcare?
The primary piece of advice I would give an entrepreneur that’s just starting out is to have a crystal-clear understanding of their solution and its inherent value. This clarity doesn’t come easy, it often involves an iterative process of refining the idea, undergoing several rounds of discussions, and being receptive to feedback. But achieving this simplicity in articulating your concept can open a myriad of opportunities. Once others comprehend your idea, they can become your brand ambassadors, referring others in their network who might benefit from your services.