Entrepreneur Says Carey Gave Him Tools for Success
At 29, Jarrett Bauer’s got a lot going for him.
The company he cofounded, Health Recovery Solutions, has raised $1.8 million and booked more than $4.2 million in sales since it launched a few years ago. The company’s ascent landed Bauer on the Forbes magazine’s 2016 ‘30 under 30 list’ for health care entrepreneurship.
And, according to Bauer, a lot of his success has been made possible by his time at the Johns Hopkins Carey Business School.
“One of the things I learned at Carey was how to take something new and make it amazing. If it wasn’t for that, I don’t know if I would’ve started a company,” Bauer said.
Bauer, a graduate of Carey Business School’s 2012 charter Global MBA class, drew parallels between being a student at Carey and creating a company. Specifically, he praised the atmosphere at Carey and how his education positioned him for entrepreneurial success.
“One of the reasons I chose Carey is because they didn’t apologize. It’s a school that is different, that approaches business in a different way, and owns it,” he said. “The program really enables you to focus on what you want to do when you graduate; it allows you to think outside the box. To me, there couldn’t be a better program.”
Bauer began developing the concept for Health Recovery Solutions in between his first and second year at Carey. Partnering with the hospitals, the company uses tablets and associated technology to mitigate readmission for patients with high risks of return visits. According to Forbes, a study showed the method reduced hospitalizations by two-thirds.
The company was inspired by a personal experience: Bauer said he watched his grandmother suffering from heart failure oscillate between home and hospital stays. The concept capitalizes on a key tenet of the Affordable Care Act that aims to cut preventable readmissions by docking care providers with large readmission figures for certain ailments.
“I was looking for the main reasons for readmissions, and then started searching for solutions,” he said. “Being a health care consultant (before enrolling) helped me out because I knew the Affordable Care Act was coming; I knew there was a business model.”
After developing the idea, Bauer says he returned to Carey in his second year and approached it like an incubator for his business. He said Carey and the greater Johns Hopkins community helped accelerate his plans.
“I chose my classes based on the kind of company I wanted to start, and took part in business plan competitions,” he said. “Every class, during and after, I was having great conversations with my professors. They helped me out so much; they were like consultants. Everyone was extremely supportive.”
Outside of his entrepreneurial education, Bauer says he learned other valuable skills while at Carey.
“I was lucky enough to be elected the first student president, and I learned a lot about what it means to be a leader,” he said.