Portfolio Spotlight: Nancy Ham, CEO of WebPT
Each month, Battery highlights a different portfolio-company CEO with our “Five Questions in Five Minutes” feature, showcasing the diversity of the Battery portfolio across investment stages, sectors and geographies.
What does your company do in 10 words or less?
Electronic medical records (EMR), practice management, and other tech solutions for outpatient rehabilitation clinics.
What is your favorite piece of management/leadership advice?
I’ve always been a natural problem-solver, but in my time as a leader, I’ve learned to hone my skills to ensure I’m solving the right problem at the right time. I like the “5 Whys” problem-solving method, which involves stating the problem and asking “why” five times in an effort to get to the problem’s true root, which is often deeper than we believe it to be at first pass. Here’s a great, quick example: Jefferson Memorial 5 Whys .
What’s the most underrated trend in technology, in your opinion?
Behavioral science. While marketing has a significant head start when it comes to implementing behavioral science principles and tools, it—as well as all other business fields—is still operating well under the threshold of what’s possible. Understanding human behavior—as well as how to positively influence that behavior—is a critical science and one that will afford us the ability to re-imagine almost every aspect of business. Tools, feedback loops, and design processes will be the catalyst to transform this trend into an everyday business best practice. Within health care, there’s a huge opportunity for providers to leverage behavioral science to improve patient compliance. That’s an area WebPT is heavily focusing on: leveraging predictive analytics, so that providers can deliver the right care (be it within the clinic or through prescribed exercises) at the right time to ensure patients get better, faster.
What WebPT accomplishment in the last 12 months are you most proud of?
WebPT completed two successful acquisitions: Strive Labs and BMS Practice Solutions. In addition to almost doubling the number of amazing WebPTers to more than 500 people across the US, we have greatly increased our capabilities to drive significant revenue upsides to our customers through patient relationship management (PRM) and revenue cycle management (RCM) solutions. We are seeing results of more than $150,000 per clinic. This allows us to further our company mission of helping rehab therapists achieve greatness in practice.
BONUS QUESTION: What is your favorite artwork and why is it meaningful to you?
Renoir’s “Two Sisters,” a beautiful painting that you can see at the Art Institute of Chicago. My mother gave me a reproduction of this when I was a young girl, and it inspired my lifelong love of art. Art museums are my happy place.