Mark Hirschhorn is a senior executive who has led finance and operations for several healthcare and technology companies. He has worked at both private and public companies, where he has directed dozens of business acquisitions, led negotiations for four initial public offerings (IPOs), and overseen finance, treasury, and investor relations.
Mark Hirschhorn brings this comprehensive experience to his current role as CEO of TapestryHealth, a developer of remote vitals management and telehealth services for nursing homes and assisted and independent living communities. Since joining the company in early 2022, he has focused on organically expanding and diversifying the business to position it for nationwide growth.
Hirschhorn previously served as COO, CFO, and president of Talkspace. During his tenure at the company, he established a new enterprise division that saw its annual recurring revenue (ARR) go from $1 million to $50 million in a mere 18 months. He also successfully guided Talkspace through its June 2021 IPO.
Before joining Talkspace, Hirschhorn was the CFO of ArisGlobal, a SaaS company that specializes in pharmacovigilance technology. There, he helped guide the firm through its $800 million acquisition by Nordic Capital.
Hirschhorn also spent more than six years as CFO of Teladoc Health. He led the company through a period of business and financial growth, and spearheaded the acquisition of mental health platform Betterhelp in 2015. In 2017, Institutional Investor named Hirschhorn the Best CFO of a Small Cap Healthcare Company and Teladoc Health appointed him as its COO.
Hirschhorn also previously served as CFO for RCS/Media Monitors and BT Radianz, Ltd. Early in his career, he worked at Deloitte as a senior manager, overseeing global audits.
Mark Hirschhorn holds a bachelor of arts in political science and government from Rutgers University and an MBA in accounting from Rutgers Business School. He is a frequent speaker for audiences at Deutsche Bank, JPMorgan, Wells Fargo, and Citigroup. In his free time, he enjoys cycling, alpine climbing, running, and tennis.
Where did the idea for your career come from?
The idea for Tapestry began several years back when Dr David Chess, a geriatrician with over 4 decades of experience providing healthcare to some of our nation’s most vulnerable patients decided to reimagine how care can be delivered in skilled nursing homes.
What does your typical day look like and how do you make it productive?
My typical day begins with updates from my colleagues in several areas of the organization: clinical, technology, sales, and finance. While working remotely the entire leadership team has collaborated throughout the year to keep everyone abreast of emerging topics and progress towards the achievement of our shared goals. I recognize that our team of entrepreneurs, clinicians, and other professionals flourish when our communications are frequent and constructive. I spend my day ensuring that all of my colleagues can optimize their day coordinating care for our patients and deliver improved outcomes.
How do you bring ideas to life?
I am surrounded by very intelligent energetic people who foster creativity. While resource allocation is often an obstacle in the pursuit of numerous innovations we often come to a consensus as to what should be next. Once a decision is reached, we are all in!
What’s one trend that excites you?
The most exciting trend that Tapestry has created is a decrease in patient hospitalizations. While each admission can cost more than $18,000, I am thrilled to see verifiable data that points to Tapestry’s technology driven primary care model at the core of this exciting trend.
What is one habit of yours that makes you more productive as an entrepreneur?
I am not an entrepreneur. I have decades of being an operator and go-to professional for the many entrepreneurs that I have been fortunate enough to work with. A habit that serves me well is the work ethic that I have followed since I was a very young man. I recognize how dedicated and passionate my colleagues are and I hold myself to their very high standards.
What advice would you give your younger self?
I would suggest slowing down and being more patient could benefit both the younger me in addition to everyone that will eventually interact with me in business and beyond.
Tell us something that’s true that almost nobody agrees with you on.
Bats are wonderfully misunderstood creatures
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
As an experienced business leader, I suggest people allow themselves to be vulnerable – it’s often the only time you will learn something new.
What is one strategy that has helped you grow your business?
One strategy that has consistently worked is solving someone else’s problem. If the problem is large enough, you can create a market for your services. I have been fortunate enough to do this on a large scale with telecommunications, financial data, advertising data and, of course, healthcare.
What is one failure you had as an entrepreneur, and how did you overcome it?
I worked with an entrepreneur in 2001 on a travel auction site that was raising money at the same time as Booking.com was coming to market. The markets tanked and while our concept and strategy were sound there wasn’t enough investor demand to keep us solvent.
That one experience taught me more in one year than I had learned in the previous 5 years. My perseverance and focus on joining other start-ups were strengthened by my failures.
What is one business idea that you’re willing to give away to our readers?
Most people will not want to take the plunge and walk away from the stability of a predictable career trajectory. What I can suggest is that I have never ever met an entrepreneur who would ever be willing to work for someone else. The joy from creating a new company is unrivaled in the world of business.
What is the best $100 you recently spent? What and why?
Inflation has severely reduced the value of $100. However, with Black Friday sales I was able to purchase a temperature-controlled Ember mug. For most people this might be viewed as a needless addition to the countertop. I live with Raynaud’s syndrome so having a warm mug throughout the day is great.
What is one piece of software or a web service that helps you be productive?
The entire suite of collaboration tools from Google and Microsoft Teams creates so much efficiency. I often think about how impactful these tools could have been earlier in my career and it blows me away.
What is the one book that you recommend our community should read and why?
The Advantage, by Patrick M Lencioni: Why Organizational Health Trumps Everything Else In Business
The book provides a foundation for conducting business in a new way that maximizes human potential and aligns an organization around a common set of principles. So important in today’s business environment.
What is your favorite quote?
I grew up as a voracious reader of military history. General Douglas MacArthur said “you are remembered for the rules you break”
- Solving someone else’s problems can help create a market for your services
- People should allow themselves to be vulnerable – it’s often the only time you will learn something new
- Recognize how dedicated and passionate your colleagues are and hold yourself to their very high standards
Steve (Stefan) Junge hails from Germany and helps with the day-to-day publishing of interviews on IdeaMensch. While he and Mario don’t share a favorite soccer club, their enthusiasm to help entrepreneurs is a shared passion.