Goyal, an anesthesiologist and entrepreneur, first co-founded SmileMD (OFFOR Health), a mobile anesthesia and healthcare company that provides access to care currently servicing patients in four states. He then went on to co-found LOUD Capital, an early-stage venture capital and alternative investment firm leveraging capital, entrepreneurship, and education to grow impactful companies across the globe, and which is driven by the ethos “Venture for People.” The firm also works to provide value to later-stage investors by mitigating risk with early-stage investments and portfolio management. Nearly half of LOUD’s portfolio companies are either women or minority-owned.
His story, his experience, and what he sees as an opportunity for physicians to have a broader impact on themselves and society is the focus of Physician Underdog. Although the idea of physicians as underdogs might be counterintuitive, Goyal believes that given the current state of the healthcare industry, doctors are indeed often looked over, and in need of motivation now more than ever.
“Physicians are experts at taking care of people, yet physician suicides are at an all-time high, burnout is rampant, and satisfaction is dramatically down,” says Goyal. “There is a lack of voice and control from the physician, the influence in public policy isn’t being swayed by physicians, and the demand on physicians to be empathetic is extremely high. Physicians are humans, but they are working in a system that wasn’t built by them or for them, so they’re being neglected.”
Moreover, doctors today are encountering heightened levels of consumer misinformation, where people are making decisions based on non-medical opinions and resources. Furthermore, even as they see an increase in hospital administrators and metrics, are plagued by outdated technology, less patient face time, and more administrative work, physician compensation has not caught up, or even in some instances has decreased. All of these factors have contributed to physician burnout.
In other words, many in the medical field have battled hard to obtain a specific skill set, only for these skills to be underutilized, which leads to frustration. Physicians have carefully honed expertise in collaboration, problem solving, leadership, and communication of their thought processes. Goyal wants readers to understand that by tapping into these experiences and rarefied faculties, they can actually overcome underutilization.
Specifically, Goyal suggests that physicians can start on this path of greater fulfillment by putting themselves out there; by learning, investing, and meeting people outside of their physician circle to gain confidence and fill their buckets. When it comes to learning, Goyal suggests taking advantage of online platforms to learn basic financing, alternative investments to build a diversified portfolio, and learn about entrepreneurship and the fundamentals of business. He also advocates for reaching out networks within their immediate reach, since those at arms-length are often underutilized, and resetting the mindset to learn from others’ experiences can really help you grow.
Physician Underdog breaks down Goyal’s own path into Venture Capital. He talks about how he got into entrepreneurship and started his first fund in light of what he saw as an opportunity to make VC more impactful, and consequently why he has decided to now dedicate his career to venture capital and search for ways to improve it.
“Everyone should learn more about entrepreneurship and investing, but I think physicians are already proven and credible members of society, and we should leverage our degrees to start opening doors and getting on the kind of stages that people dream about,” says Goyal.
Likewise, the same kind of skills and points of view that create successful physicians translate beautifully to the business world.
“We have proven we can learn a lot of information, lead groups in stressful situations, present data to groups, work hard, and are guided by a large ethical compass that the world is waiting for and needs,” says Goyal. “I wrote this for physicians and medical students, but my hope is that the messages within will resonate with any professional, entrepreneur, or investor.”
While still very much a medical professional, Goyal’s mission now is to reach out and share with others in the field innovative ways to fulfill their goals, satisfy their ambitions, and be of service, inspiring them to move forward by playing upon the underdog mentality.
“I hope this information makes readers think a little differently and inspires them to explore endless possibilities in the spirit of making the world a much more positive place,” says Goyal.
Physician Underdog can be purchased on Amazon and on additional platforms as a digital download and paperback starting today.
About Navin Goyal, M.D.
Goyal is a physician and entrepreneur who serves as CEO of LOUD Capital, an early-stage venture capital and alternative investment firm leveraging capital, entrepreneurship, and education to grow impactful companies across the globe. Bringing his physician training to do good for people, Navin strives to make venture capital more purpose-driven, inclusive, and impactful. Before co-founding LOUD Capital, Navin practiced anesthesiology in a large hospital-based setting and was the Medical Director of a community hospital for several years.
The beginning of his entrepreneurial journey was co-founding OFFOR Health (formerly SmileMD), a venture-backed mobile healthcare company that expands access to care across the United States with a dedicated focus on lower-income and rural communities. Navin is a frequent speaker at medical schools, hospitals, and businesses worldwide, sharing his perspective on how physicians can bring their ethical code to influence and impact the world more fully.
His story, his experience, and what he sees as an opportunity for physicians to have a broader impact on themselves and society is the focus of his book, Physician Underdog. Navin received his M.D. from the University of Cincinnati College of Medicine and trained in anesthesiology at the University of Chicago Medical Center.
About LOUD Capital:
LOUD Capital is an early-stage venture capital and alternative investment firm providing capital, entrepreneurship, and education to grow impactful companies across the globe. Since launching in 2015, LOUD has managed early-stage venture funds, raised special purpose funding to more than a dozen high-growth ventures, and deployed private growth capital to hundreds of small businesses around the country. LOUD Capital is headquartered in Columbus, Ohio; with presence in Chicago, Raleigh, Los Angeles and Beijing. LOUD Capital: Venture For People. Learn more at www.loud.vc.
SOURCE LOUD Capital
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