Although people refer to Patrick Colletti as a founder, he really prefers the term “refounder” when he describes his role in Net Health’s transformation. He was still fairly new with the company when he discovered that it was in trouble and on the brink of failure. As a last-ditch effort, the board of directors asked Patrick and another colleague if they wanted to have a go at turning the business around. The details of this story are highlighted in Patrick’s new book called "Refounder: how transformational leaders take what’s broken and make it better." In this episode, we talk about the “refounding principles” highlighted in the book, as well as what everyday people can do to apply these turnaround concepts in their personal lives and businesses.
In the beginning of his career at Net Health, Patrick Colletti was faced with an unexpected opportunity and a steep hill to climb. It was the early 2000s and the company was teetering on the edge of collapse when board members asked him and another colleague if they wanted one last shot at turning it around. With a lack of job prospects in the wake of 9/11, Patrick felt that he had nothing to lose in giving it a try. The first few years were rough, but their newly organized team eventually got the business on solid ground. Today, Net Health is a leading electronic employee health records, software, and analytics company with an impressive roster of customers which includes over 95% of the country’s largest health care systems.
A few years ago, Patrick stepped down from his position as Net Health’s president, and this transition has placed him in a new role as the company’s advisor and refounder. In 2021, he published his book, which tells the story of his journey and the company’s reinvention and explosive growth over the last twenty years. The book is aptly titled – "Refounder: how transformational leaders take what’s broken and make it better." In our conversation, Patrick discusses the “refounding principles” that served him well in the early days of the turnaround. He also shares the importance of cultivating team and creating culture in building an organization that can stand the test of time.
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YOU CAN REACH PATRICK COLLETTI AT:
Website: https://refounder.com
Website: https://www.nethealth.com
LinkedIn: https://www.linkedin.com/in/patrick-colletti
Instagram: https://www.instagram.com/patrick_colletti
Facebook: https://www.facebook.com/nethealthfits