UPMC Enterprises identifies clinical areas where its parent health system is not at the frontier. It then deliberately seeks external investments in those specific areas to bring in new technologies and expertise, rather than only investing in existing internal strengths.
Venture capitalist Jeanne Cunicelli emphasizes that a core tenet of her leadership is fostering a "no surprises" environment. This means encouraging forthright communication and providing direct, real-time feedback, ensuring major issues are surfaced early and annual reviews never contain unexpected information.
A key skill in building a deep tech team is identifying individuals who can bridge the gap between complex science and business reality. These "translators" can articulate highly technical concepts in plain English, clarifying clinical relevance and commercial viability for decision-makers.
A leader in a highly technical field doesn't need to be the deepest scientific expert. Venture capitalist Jeanne Cunicelli, who is not a scientist, succeeds by mastering the skill of deconstructing complex topics through persistent questioning and listening, enabling her to make sound judgments.
Instead of only funding internal innovations, UPMC Enterprises actively sources best-in-class technologies globally and uses its integrated health system to pilot and validate them. This accelerates adoption of cutting-edge solutions and provides a unique value proposition beyond just capital.
For life sciences startups, UPMC's model shows that an integrated payer-provider views expensive therapies not just as a line-item cost but as a potential long-term saving. They calculate value based on reducing other system costs like hospital stays, supplemental drugs, or future procedures.