From the invention of the first artificial pacemaker to 3D printed body parts, technology has aided a profound development of modern healthcare. Aligning technology with the human need of social interaction, healthcare platforms with the purpose of connecting medical professionals with each other and with patients have been garnering necessary attention.
These platforms have evidently provided an easy access to authentic healthcare information and virtual consultation have proven vital, specifically during the ongoing pandemic. Pertaining to this, healthcare service providers and organizations across the world are pivoting their care delivery systems to such platforms.
In similar context, The Rounds is one such platform which is on a mission to improve global healthcare outcomes by connecting the medical community. It provides a secure environment for physicians to connect with peers and experts across various therapeutic areas.
The Rounds is coherently modernizing how physicians connect to information, so they have the ability to improve healthcare outcomes. The platform has built a safe place for physicians to collaborate by reducing the external noise found on traditional social media channels yet provides them the ability to have a voice amongst their colleagues, regardless of geographic constraints.
There are two critical components that separate The Rounds from other platforms. Primarily, it is a specialty agnostic that removes the silos across medicine so that knowledge sharing can span a larger audience, but it also includes closed groups when connecting with physicians’ immediate peers is important.
Secondly, The Rounds has worked diligently to ensure that it is compliant with regulators, associations, and privacy rules so that it can safely deliver the right information to its members and provide comfort that they are getting accurate and relevant information for their practice.
Needless to say, the COVID-19 pandemic has impacted healthcare industry and the associated niche markets as much as it has impacted the people. Talking about how the pandemic impacted the company, the team at The Rounds says, “This pandemic is a landmark event that will permanently change many aspects of the healthcare system. The tools and resources for providing patient care have been turned upside down and a new gold standard of virtual capabilities are here to stay. That doesn’t mean personal interactions are gone however, it just means that the tools we use, need to take into consideration effective means for remote engagement. The Rounds was built to support digital transformation, so the pandemic has accelerated our position in the healthcare ecosystem, but we’ve also leveraged our agility to adapt to the changing needs of our members and our customers.”
At the helm of The Rounds’ ascension towards peaks of success is Tim Rice, the CEO.
Tim is a recognized leader in the Life Sciences sector and devotes his time to influencing how physicians consume and share crucial information. In 2001 Tim began his career ‘carrying the bag’ in a sales role for Novartis Pharmaceuticals (3rd largest pharmaceutical company globally).
“I was always interested in healthcare and business; the pharma industry married the two of those very well and Novartis provided a lot of opportunities to advance within the company, so I jumped on them. I inadvertently got a call one day from a board member of The Rounds to have a coffee and I immediately saw a solution that could alleviate the challenges the pharma industry was experiencing in executing the current sales model. Interrupting a physician’s workflow in their clinic by sales reps wasn’t a sustainable model, especially with a significant drop in accessible physicians that had been building for years. So, I hung up the bag, joined The Rounds and we are now modernizing how physicians connect to improve healthcare outcomes,” Tim expresses.
Tim leads a passionate team driven by the mantra that knowledge saves lives. Through his role, he is focused on establishing a sustainable and scalable business model for the organization, helping the company grow rapidly while positively impacting the community.
With over 20 years’ experience in the healthcare industry, Tim has developed premium skills in sales, medical education, marketing, and leadership roles. Tim Rice is known to his colleagues and partners as a genuine, personable, and determined individual who is centered around building strong relationships.
We asked Tim for his opinion on what could be the future of the healthcare services sector post the pandemic, to which Tim said, “Access is the largest issue in healthcare. Whether you are talking about access to physicians, access to treatments (both physically and financially) and access to accurate and relevant information. In the short term we are seeing a negative impact of the pandemic on a lot of medical conditions because patients are not going to see their doctor for ailments not associated with Covid-19 symptoms, hence we will see a burden to the healthcare system as the pandemic eases. But as the healthcare system adjusts to new capabilities there will be a lot of efficiencies through digital access to resources for effective care. We will not fully replace physical contact in medicine but for diagnosis, treatment, and management of many conditions the patient journey will be significantly improved.”
Excerpts from his own journey as an entrepreneur, in his advice to those aspiring to venture into the healthcare services niche, Tim says, “Learn about the healthcare ecosystem as much as you can. You need to consider all stakeholders involved as medicine quickly becomes a ‘team sport’. A second piece of advice I would add is that you need to be agile and adapt as medicine evolves to remain relevant in this space. What is considered as the gold standard today, will not be the case tomorrow so stay close to your stakeholders and help them navigate.”
Voyaging towards New Horizons
The Rounds had immediately recognized that the pandemic would be a catalyst for a market shift in its favor. The company’s focus shifted from sales growth to the growth of its team. “We needed the right people on the bus to succeed in the wave that we could see coming so we regrouped, mapped out our immediate and mid-term needs for the following 12 months and went on a hiring binge to find the best talent available,” says Tim.
The Rounds also understood that this was not just a Canadian impact, but it needed to think globally with medical associations approaching the company to seek solutions and it needed to think bigger.
“In less than a year we’ve established a significant US pipeline for membership and customers and with a market 10x of Canada’s. We are very excited about our ability to scale in North America and globally,” concludes Tim.