Episode 26: Dickon Waterfield, President at Lantern

In this episode of the Digital Health Heavy Weights podcast, Norm Volsky interviews Dickon Waterfield, president of Lantern, a specialty care platform. They discuss Dickon's journey from strategy consulting to healthcare, his experiences in investing, and his pivotal roles at Big Health and Lantern. The conversation delves into the challenges of the PBM industry, the importance of direct contracting, and the future of healthcare innovations, particularly in specialty care and oncology. Dickon emphasizes the need for transparency, quality care, and the alignment of incentives in the healthcare system.  Takeaways ❤️ Healthcare is a deep personal field that impacts everyone. 🔄 Transitioning from investing to operational roles can provide valuable insights. 🤝 Sales in healthcare requires a focus on building relationships and trust. 🔍 Understanding the details of the product and the buyer is crucial for success. ⚠️ The PBM industry faces significant challenges due to misaligned incentives. 💼 Direct contracting models can lead to substantial cost savings for employers. 🔎 Quality care and transparency are essential in specialty care. 👥 Building a strong team is vital for scaling a healthcare business. 🎯 Focusing on a few core services can lead to greater impact than spreading too thin. 🧘 Maintaining a healthy work-life balance is important for long-term success.  Chapters 00:00 Introduction to Dickon Waterfield and Lantern 02:22 The Personal Connection to Healthcare 04:50 Early Career at Monitor Group 06:29 Transition to Investing and Early-Stage Companies 09:43 Lessons from the Investment Side 11:47 Joining Big Health and Early Challenges 13:52 The Role of Sales in Early-Stage Companies 16:53 Building Relationships in Sales 19:41 Navigating the Two-Sided Marketplace 21:03 Scaling from Zero to 2.5 million Members 23:41 The Evolving Landscape of Healthcare Sales 25:12 The Difference Between Evangelists and Scalers 26:40 The Importance of Mentorship in Business Growth 27:56 Building Effective Sales Teams: Experience vs. Potential 31:16 Navigating Challenges in the PBM Industry 39:21 The Evolution of Direct Contracting Models 41:01 Expanding Horizons: The Future of Lantern 56:45 Personal Health Practices in a Stressful Industry Follow, connect and subscribe:LinkedIn: https://www.linkedin.com/company/digital-health-heavyweights-podcastYoutube: https://youtube.com/@DigitalHealthHeavyweightsInstagram: https://www.instagram.com/digitalhealthheavyweights/TikTok: https://www.tiktok.com/@heavyweightspodcast