SM: Candidly, are there other companies who are executing as well with a strong adoption curve? KL: WebMD has done very well. A big part of their business is consumer, and their growth rate has slowed dramatically.
SM: Let’s talk about TAM. You looked at $400 million TAM on the physician side and $14 billion TAM on the pharma advertising side. Now we are looking at $250 billion TAM on the health care administration side. Those are serious orders of magnitude. KL: I think right now we are taking smaller steps. The
SM: Is there anything in the software-as-a-service world that you are observing or that you could tie up with? KL: Traditionally all of those IT systems have been client-server types of relationships. All of the newer point solutions emerging are using the software-as-a-service model.
SM: You came into the company in 2004. What were the first few things you did? KL: I didn’t have to change the company in a radical way. I looked at the market opportunity for how much physicians and health care professionals would spend for software and reference materials. That is a $400 million market.
SM: You did two companies prior to Epocrates which were focused on content? KL: PublishOne and ScreamingMedia were content-oriented. SM: After ScreamingMedia you were recruited to Epocrates? KL: I sold ScreamingMedia to CBS in 2004.
SM: Where did you go after Apple? KL: I went to Silicon Graphics in 1993. They recruited me away because they wanted to build a developer organization like the one Apple had. That was a tough story.
Kirk Loevner began his career with VisiCorp in the early 1980s before moving to Apple, where he worked for the next ten years. Afterwards he worked at Silicon Graphics, as the CEO of Internet Shopping Network, and then founded PublishOne in November 1998. He then was the CEO and chairman of Pinnacor (ScreamingMedia) from December
SM: What should I have aksed you that I didn’t? Where do you go from here? RJ: We spend the next couple of years getting up to the level of revenue, assuming we perform to our projections, that will allow us to go public. Hopefully the IPO market will be back.