OVERVIEW:
Jason A. Duprat, Entrepreneur, Healthcare Practitioner and host of the Healthcare Entrepreneur Academy podcast talks with Cathy Cather, CEO and co-founder of Parallel Testing. Cathy discusses her journey as a consultant and entrepreneur. She shares what led her to launch Parallel Profile™ and the ways she continues to expand her business.
EPISODE HIGHLIGHTS:
- Cathy used to work in the IT industry and moved often due to her promotions. When she was sent to San Diego, she decided it was time for a change and transitioned to healthcare.
- Cathy comes from a family of entrepreneurs including her father and grandfather.
- She started her own consulting company to help companies with their messaging and sales strategies for product development and design.
- Personal experiences involving her husband, mother, and a friend who all suffered from adverse drug reactions motivated Cathy to launch Parallel Profile™.
- Cathy wants to disrupt standard treatment protocols utilizing genetic information to advance patient care.
- Parallel Testing completes the genetic testing and provides reports. Parallel Profile™ makes the reports understandable and accessible through an app. Between the two, patients can determine which medications match their DNA and will work safely.
- 128,000 people die each year from adverse drug reactions. 2.7 million have an adverse reaction and are admitted to the hospital.
- 90% of drug prescriptions don’t work for 30-50% of people.
- The average person over the age of 65 is on a dozen medications because of prescribing cascades. This occurs when a drug causes adverse symptoms which are misinterpreted as a new condition which then leads to a new medication being prescribed.
- Cathy’s team developed a platform for doctors so they can take a continued education course on pharmacogenetics.
- Practitioners don’t need to be experts on all 50,000 drugs—just the 8 or 10 they prescribe.
3 KEY POINTS:
- Pharmacogenetics could prevent 128,000 people in the US from dying due to adverse drug reactions. Through technology, Cathy and her team educate practitioners and make pharmacogenetics more accessible.
- The effectiveness of medicines is genetics-dependent. If you develop new symptoms within 6 months of using a drug, research and learn about the uncommon side effects.
- Networking and outsourcing have their advantages, but specs and oversight management are keys to running a tech-based startup.
TWEETABLE QUOTES:
“When you get gems, incorporate them.” - Cathy Cather
CONNECT WITH JASON DUPRAT:
LinkedIn | Facebook | Instagram | Youtube | Facebook Group
RESOURCES:
- Sign up for one of our free business start-up Masterclasses by heading over to https://healthcareboss.org/masterclass/
- Have a healthcare business question? Text me at 386-284-4955, and I’ll add you to my contacts. Occasionally, I’ll share important announcements and answer your questions as well.
- Do you enjoy our podcast? Leave a rating and review: https://lovethepodcast.com/hea