How does a pharmacist become a venture capitalist? Hear Meg Powell's story on the transition from big pharma to startup and her advice for women in healthcare leadership.

Episode resources:

• Learn about 501 Ventures
• Follow Meg Powell on LinkedIn

Have you ever wondered if your clinical training could lead to a career in high-stakes investing? This episode charts the incredible journey of Meg Powell, who forged a unique path from pharmacist to venture capitalist. Meg shares the invaluable lessons, pivotal moments, and scrappy determination that took her from a small town in North Carolina to the executive suites of Big Pharma, the trenches of a successful startup, and finally to the helm of her own venture capital firm. We explore the core question: How do you build a multifaceted career in healthcare, and what does it truly take to transition from clinician to entrepreneur to investor?

In this deep-dive conversation, Meg Powell, co-founder and CEO of 501 Ventures, reveals the playbook for navigating a dynamic career in the life sciences. She details her foundational years at Eli Lilly and GSK, explaining why a transition from big pharma to startup life provided her with indispensable training and an unparalleled network. Meg walks us through the origin story of Target RWE, a pioneering real world evidence company she co-founded with Dr. Mike Freed. She shares the challenges of building a profitable company from the ground up with minimal funding, the importance of finding the right co-founder, and the strategy behind their successful exit. We also learn about her experience with imposter syndrome and how being a "scrappy entrepreneur" became her greatest asset.

Now, Meg is focused on the next frontier of medicine through healthcare venture capital. She discusses the formation of 501 Ventures with her partner Enrique Conterno (former President of Lilly Diabetes) and their investment thesis in the booming metabolic health and obesity market, fueled by innovations like Tirzepatide (Zepbound). A significant part of our discussion is dedicated to women in healthcare leadership. Meg speaks candidly about the "aha moments" that ignited her passion for mentorship, the challenges she faced, and how she is paying it forward with "The Fierce Collaborative," a network dedicated to supporting women and mothers in the life sciences. This episode is packed with authentic career advice, insights into the future of healthcare investing, and the inspiring story of a leader who has consistently broken new ground.

About our guest:

Meg Powell is the Co-founder and CEO of 501 Ventures, a venture capital firm focused on metabolic health. A PharmD by training, Meg began her career in Big Pharma at Eli Lilly and GlaxoSmithKline before transitioning to the startup world. She was the co-founder and CEO of Target RWE, a leading real-world evidence company that she grew from an idea to a highly successful exit. Meg is a passionate advocate for women in leadership and a mentor to the next generation of healthcare entrepreneurs.

Most doctors have brilliant ideas, but why do 98% of them fail before they ever reach a patient? The brutal truth is that a clinical mindset is not an entrepreneurial mindset, and the skills that make a great doctor are not the same ones that build a successful company. In this episode, we sit down with the ultimate physician entrepreneur, Dr. Arlen Meyers, to uncover the harsh realities of medical innovation and why your great idea is probably destined to fail without a fundamental shift in thinking.

Dr. Meyers, an academic surgeon turned serial entrepreneur, shares his own frustrating journey as an "accidental med-tech entrepreneur" trying to commercialize a cancer-detecting gadget. This experience revealed a massive gap in medical education: the complete lack of training in the business of medicine. This gap inspired him to create the Society of Physician Entrepreneurs (SoPE), a global network dedicated to helping clinicians navigate the treacherous path from idea to impact. We explore the critical need for doctors to develop an entrepreneurial mindset, whether they are launching a startup, pioneering medical innovation within a hospital (as an "intrapreneur"), or considering a physician career change. Dr. Meyers provides a clear definition of what it truly means to be a physician entrepreneur, arguing that it's a mindset that can be developed, not just an innate trait. He introduces the concept of the "innerpreneur"—the hidden innovator DNA that many clinicians possess but don't know how to activate. We also discuss why he believes most MD-MBA programs are a "bad idea" and why teaching the business of medicine must be integrated directly into medical school. Finally, Dr. Meyers explains the mission of the Society of Physician Entrepreneurs and offers his most important piece of advice for any doctor pursuing an entrepreneurial role: "make it personal, but don't take it personally."

About Our Guest:

Dr. Arlen Meyers is an academic surgeon, professor, MD, and MBA who became frustrated by the lack of entrepreneurial support for clinicians. He is the founder of the Society of Physician Entrepreneurs (SoPE), a global non-profit organization that provides education, resources, and networking to help physician innovators get their ideas to patients. After a long career in academic medicine, he now dedicates his time to teaching, writing, and consulting to bridge the gap between medicine and entrepreneurship.

Chapters:

(00:00) Why Most Medical Ideas from Doctors Are Doomed to Fail

(01:37) Dr. Meyers' Journey: From Accidental Med-Tech Entrepreneur to Innovator

(06:09) Defining the Physician Entrepreneur and the "Innerpreneur" Mindset

(12:06) The Critical Gap in Medical Education: The Business of Medicine

(18:24) The Creation of the Society of Physician Entrepreneurs (SoPE)

(21:37) The Forgotten Skill: Why Physician Entrepreneurs Must Learn to Sell

(25:23) The Future of the Physician Entrepreneur Ecosystem

(29:01) Final Advice: Making It Personal, But Not Taking It Personally

Episode Resources:

• Learn more about the Society of Physician Entrepreneurs (SoPE)
• Read Dr. Meyers' articles on Substack
• Connect with Dr. Meyers on LinkedIn

Is the traditional academic path failing doctors who want to innovate? For many physicians, the dream of impacting patient care on a massive scale feels out of reach within the slow-moving world of grants and publications. This episode explores the alternative: the dynamic and rapidly evolving physician career paths in health tech. We're joined by Dr. Shrujal Baxi, a physician executive and former Chief Medical Officer at Iterative Health, who shares her incredible journey from being a top medical oncologist at Memorial Sloan Kettering to becoming a leader at pioneering tech companies like Flatiron Health, Verana Health, and Iterative Health.

Dr. Baxi reveals the critical moment she realized academic research, despite its rigor, couldn't deliver solutions at the speed technology could. This conversation is a masterclass for any doctor questioning their career trajectory, offering a candid look at the challenges and rewards of transitioning from the clinic to the tech industry. We dive deep into how her skills as a clinician became her greatest asset in corporate settings, the pivotal role of real-world evidence in shaping modern medicine, and the future of AI in medicine. If you've ever wondered how to commercialize a great idea to truly help patients or what the role of clinicians in tech companies truly entails, this discussion provides the roadmap. Dr. Baxi breaks down her experience working on everything from large-scale data sets in oncology to using computer vision for endoscopy in gastroenterology, demonstrating the vast opportunities available for physicians outside of traditional practice. This episode isn't just a story; it's a guide to forging impactful physician career paths in health tech, exploring the academia vs industry for physicians debate, and understanding how to build a scalable solution that changes patient lives.

ABOUT OUR GUEST:

Dr. Shrujal Baxi is a physician executive who has built a remarkable career at the intersection of medicine and technology. After training as a medical oncologist and conducting health services research at the world-renowned Memorial Sloan Kettering Cancer Center, she made the leap to industry. She has held leadership roles at some of the most influential companies in health tech, including Flatiron Health, Verana Health, and most recently as Chief Medical Officer of Iterative Health. Dr. Baxi shares her unique perspective on leveraging real-world evidence and AI in medicine to drive innovation and improve patient outcomes.

TIMESTAMPS / CHAPTERS:

(00:00) The Rise of Physician Innovators in Health Tech

(01:40) Dr. Baxi's Origin: From Oncology to Health Services Research

(05:51) The Turning Point: Why Academic Research Moves Too Slowly

(08:49) Making the Leap to Flatiron Health & a New Career Path

(12:46) The Untapped Value of Clinicians in Tech Companies

(17:43) Scaling Real-World Evidence Beyond Oncology at Verana Health

(21:31) Pioneering AI in Medicine with Computer Vision at Iterative Health

(25:32) The Future of Health Tech & Early-Stage Innovation

(28:48) Dr. Baxi's Advice for Aspiring Physician Innovators

Episode Resources:

• Connect with Dr. Shrujal Baxi
• Learn more about Flatiron Health
• Learn more about Verana Health
• Learn more about Iterative Health