TPR Media/Ubicare: Innovation that Led to Urban Market Capitalization

Innovation is more than just a recipe for long-term, sustainable growth for a small business; it is essential for survival in today’s volatile (and increasingly Darwinian) economic environment. While I will avoid using the maxim “innovate or die,” it could never be truer than it is now – when banks are reluctant to lend money and demand nimble business models that show the ability to adjust quickly to the changing economic dynamics.

With social media and mobile technology strategy beginning to take hold in numerous boardrooms, firms that serve markets with such technology can find endless business opportunities that can result in unprecedented growth. This is an incredible opportunity for urban communities to capitalize on new market creation and continue to act as hubs for revenue generation for the businesses that reside within them.

This brings us to #22 on the 2011 Inner City 100 list, TPR Media/UbiCare of the inner-city Jamaica Plain neighborhood in Boston and its dynamic CEO, Betsy Weaver. Weaver, a Jamaica Plain resident and serial entrepreneur, started the company in 2002 with her partner Marc Gascon. Her goal, Weaver says, “is to use cutting-edge technology and proven strategies to enhance and streamline patient-provider connections, facilitating better cost and care outcomes in today’s rapidly evolving healthcare environment.”

“Simply put, we deliver the electronic care connections between providers and patients that result in better outcomes for both,” Weaver explains. TPR’s clients include more than 200 hospitals and Department of Defense hospitals in the U.S. and around the globe.

In January of this past year, the company launched UbiCare, which is the first healthcare content marketplace that helps healthcare providers better communicate with patients through social media channels. TPR Media/UbiCare grossed $2,035,621 in revenues in 2009 and had a five-year compound annual growth rate (CAGR) of 56% and, like all 2011 Inner City 100 winners, grew from 2008 to 2009. The company employs 17 total employees; the majority of whom are inner-city residents.

“We are an urban company and believe that talent comes in many different forms, from 22-year-olds to 60-year-olds, as long as they ‘get it,’” Weaver says. And what’s “getting it?” She explains: “Understanding that in this time and economy, the ‘same old stuff’ won’t cut it. We need new thinking and entrepreneurs, particularly those of us in the inner city, who can ‘bring it.”

Weaver hires many residents of Jamaica Plain and has even brought non-English speaking employees to the TPR team, who have then successfully moved up within the company. She believes that Boston is a great place to find a rich and diverse pool of talent that can innovate on a dime when necessary.

Weaver sees herself having the ability to scale out the business to fully incorporate all forms of electronic communication solutions: email, social media, web content and texting. She believes that what gives her company a competitive advantage is the ability to have evidence-driven content combined with the ability to customize the information being distributed with solid CRM principles. In other words, a healthcare provider can have complete control over their message and to whom it is distributed.

“Building capacities to control access and connections with customers in an agile, updateable and customizable way are key to success in 2011 and beyond,” she says. “Controlling and being able to customize connections are now the name of the game. By the time the new 2012 class of ICIC winners are named, the electronic communications world will have morphed again. And suddenly even terms like ‘social media’ will begin to sound old school. It’s amazing, but exciting and true!”

According to Weaver, there is very little direct competition catering to the market served by TPR Media/Ubicare. Can you imagine how difficult it must be to go toe-to-toe with the 22^nd fastest-growing inner city firm in the entire country and be successful?

Weaver and her team have carefully listened to the needs of the market and, thus successfully created a new venture. As healthcare increasingly moves to digital formats, TPR is one step ahead of others who try to capitalize on the opportunities made possibly by the evolution of social media. All of us at ICIC cannot wait to see what this exciting company does next to continue their impressive growth trajectory.

Do you know of any firms like TPR Media/UbiCare who are located within an urban area and are using innovation as a growth strategy?  Nominate them for the 2012 Inner City 100 for recognition in Fortune as well as a year-round, cost-free management education offering that includes a day at Harvard Business School, access to ICIC’s CEO Series Webinars, a network filled with other CEOs of fast-growing firms.  If the story of your firm’s success sounds similar to that of TPR Media/UbiCare, give your company the recognition it has earned by applying for this year’s Inner City 100.

For questions, please contact Alex Rodriguez at 617-297-3140 or arodriguez@icic.org. 

BY Alex Rodriguez on September 15th, 2011

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