Laudio CEO Russ Richmond got his business idea while hospitalized

As a physician and healthcare CEO, Russ Richmond already knew a lot about healthcare. But when a bad accident put him into the hospital for three months he developed a much more profound understanding of caregiving. In particular, he learned that many of the nurses and therapists who provided him with such great care were thinking of quitting their jobs!

Once he was released he did some research and discovered that a root cause of burnout was a lack of effective management and high administrative burden.

He zeroed in on a solution: support for frontline nurse managers. These insights formed the basis for the founding of Laudio, an intelligent platform that streamlines work for frontline leaders to drive large-scale change.

Before talking about Laudio, we also discuss Russ's earlier career, including a stint leading APS, where I had previously been chairman of the board. I'm grateful to Russ for growing and exiting that business.

Health Business Group is a boutique healthcare and life sciences consulting firm that develops growth strategies for innovative healthcare organizations. Contact us to learn more.