Adapting to Industry Shifts
January 10, 2024
This episode features a conversation with Mark Carbone. He is a healthcare entrepreneur, inventor, researcher, and is the CEO of PN Medical. Under Mark’s leadership, PN Medical has become a leader in the respiratory therapy and cardiopulmonary fields and has been instrumental in dozens of novel clinical studies conducted with Mayo Clinic, Fighter Pilots, Army Rangers and SEALS, Olympians, and professional athletes. With a dedication to evidence-based science and cutting-edge research, they have helped almost 2 million people breathe better, overcome illness, improve their physical and mental health, their well-being, and maximize their human performance.
Below is a summary of our conversation.
Mark discusses the early days at PN Medical, including learning about the medical field and inventing a new product for respiratory and cardiopulmonary health. He stresses the significance of making healthcare more affordable and accessible.
He also shares insights into his leadership philosophy and the core values that have guided his career, such as going directly to decision-makers, being humble, and taking risks. Mark attributes his success to several factors: a strong foundation in entrepreneurship, learning from mentors in large corporations, and embracing risk.
The conversation then delves into the evolution of PN Medical under his leadership. Mark transformed the company from its initial focus on respiratory and cardiopulmonary health to expanding into athletics, performance arts, and other areas. He emphasizes the importance of research in the company’s operations and the shift towards connected medical devices and home healthcare.
Mark highlights the challenges of educating the public about the benefits of their products, particularly in convincing the vast majority of people who are unaware of their own breathing issues. He also discusses the need for companies in the medical device industry to adapt to changing business environments, like consumer markets and online platforms like Amazon.
In terms of leadership, Mark emphasizes the importance of transformational leadership, consisting of idealized influence, intellectual stimulation, individual consideration, and inspirational motivation. He believes in the power of building loyalty, challenging teams, and allowing room for failure and innovation.