Dr. Omar Khokhar first caught our attention through the tagline he chose for his profile. His tagline reads: Pooping matters. And who doesn’t have heartburn occasionally? And yes, you want a colonoscopy because it’s better than having cancer.
We then got to know Dr. Khokhar a bit better, when he joined the faculty lineup of our #SoMeDocsGut2024 conference, chaired by Dr. Christine Bishara, which you can still access and learn from.
We invited Dr. Khokhar here, to interview with us, after learning he was tackling quite the interesting entrepreneurial venture.
Take a read below.
What is your business? Describe it for us.
Was there a defining moment when you realized you wanted to start your own business?
I enjoy creating things. I like seeing opportunity for improvement and being able to plug gaps. Most recently, I saw a gap for premium trading cards for the sport of cricket. It came up because my son asked for cards and I ended up with a dad-fail, which was difficult.
How has your medical or healthcare background influenced your approach to business?
You can’t have success without a team. That applies in medicine and in business. I can’t treat patients well or have a well running practice without a great manager, front office, and the best nurse in the world. With business, one needs a board of advisors as well as a management/operations team, and I’ve been blessed with both.
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What’s one thing you naively believed about starting a business that turned out to be completely wrong?
Just because I like something doesn’t mean everyone will like it! The purchase funnel is a real thing.
Who has been a major influence or mentor in your entrepreneurship journey, and what’s the best advice they’ve given you?
Ed Gold (my COO) has seen the world of business firsthand. Our relationship has evolved over the last decade – he knows where to push and where to reel me in. His consistent advice has been to sell product, and sell it fast.
What strategies do you use to empower and mentor the next generation of healthcare entrepreneurs?
I don’t know that I consciously use any particular strategy. When I’m asked, I try not to give advice, but rather share my experiences to date and let them decide what to do with it.
You can't have success without a team. That applies in medicine and in business.
What’s been the biggest challenge you faced as a healthcare entrepreneur?
Payors. Our healthcare system has layer upon layer upon layer. It needs to be more streamlined. Too many chefs are making too much profit on the backs of rural hospitals, docs, and patients.
What’s one mistake you made early on that became a valuable lesson?
Overcommitting to a product.
What did you enjoy most about the #SoMeDocsEntrepreneurship conference, and what stood out to you the most?
It was inspiring to see the breadth of knowledge and innovation.
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How do you think events like #SoMeDocsEntrepreneurship contribute to shaping the future of healthcare entrepreneurship?
It reinforces the concept that we have physicians can make more of an impact than just clinically.
What would you really like to see covered in our next #SoMeDocsEntrepreneurship conference/virtual event?
More networking
If your startup or entrepreneur venture could fix one frustrating thing in healthcare overnight, what would it be?
More transparent pricing.
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What’s the next big challenge you’re tackling in your work?
Balancing inpatient and outpatient responsibility.
How do you see AI and emerging technology shaping the future of healthcare entrepreneurship?
AI can help reduce manual entry and scouring of databases.
What’s one outdated practice in healthcare you’d love to change?
The need for a referral for a colonoscopy.
How do you handle difficult business decisions?
Level set the conversation and lead with truth.
One thing I naively believed about starting a business that turned out to be completely wrong: that just because I like something doesn't mean everyone will like it! The purchase funnel is a real thing.
What’s the most unexpected place you’ve taken a business call or Zoom meeting? (Scrub room? Airport? Middle of a surgery?)
OR, hands down. It happens.
How did you fund your business—bootstrapping, investors, or another route?
Bootstrapping. Still an ongoing conversation!
What’s the best marketing strategy that has worked for your healthcare business?
Social media
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What’s one myth about being a healthcare entrepreneur that you’d like to debunk?
You can’t change the “system.” Fine, don’t boil the ocean.
Where do you see your business in the next five years?
Hopefully the premier trading card platform for cricket cards!
If you could fix one thing about the healthcare industry overnight, what would it be?
Transparent pricing.
