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The #HCBiz Show!

The #HCBiz Show!

The podcast dedicated to unraveling the business of healthcare.

Latest From Series

Financial Advice for Early Stage Digital Health Startups w/ Kristian Marquez

We spend a lot of time talking about how to align your startup’s vision with the realities of the business of healthcare. You can have the best idea in the world, but if you don’t properly validate your offering with customers, clearly and concisely explain the value it will bring them, close deals, and deliver on your promises then it will amount to nothing. Each of these steps is critical to your success. However, you can get many of them right and still fail. The best way to prevent this fate is by tying them all together with a financial plan that’s based on reality and considers the long-term goals for your startup. Today we talk with Kristian Marquez, CFA, Managing Director for FinStrat Management, Inc. about how to properly manage your startup’s finances.  The good news is that you don’t have to be perfect. Kristian tells us you should expect to get a lot of it wrong and have to clean it up along the way. That’s ok. His advice: go bare-bones in the beginning when it comes to finances, legal, and generally “papering your business”. That way, you can put all of your resources into ensuring you have a product that people will actually pay you for. That means more time talking with customers, managing your pipeline (and not lying to yourself about it), practicing selling, and cultivating the confidence to ask for the close. Kristian walks you through this early-stage strategy, explains when it is time to bring in the experts, provides guidance on debt vs. equity funding, and even helps you prioritize your spending based on the type of company you want to build. This episode pairs well with: Episode 30: Why You Should Always Be Preparing to Sell Your Company with Dexter Braff Episode 85: Lessons on Selling in Healthcare w/ Dom Cappuccilli Episode 103: Selling to Health Systems: Advice for Digital Health Startups (Part 1) Episode 105: Selling to Health Systems: Advice for Digital Health Startups (Part 2) Episode 149: How Health Systems Think with Neil Carpenter Episode 163: What’s your Early Adopter Strategy? with Dr. Roxie Mooney ---------- Today’s Guest Kristian Marquez, CFA – Kristian serves as Managing Director for FinStrat Management, Inc. FinStrat Management (“FSM”) is an outsourced financial department services firm providing fractional accounting, controller services and CFO services. In the role, he’s responsible for the overall execution of the Company’s business plan, and the identification and realization of Company product strategy and vision. Prior to founding FSM, Kristian served as President, CEO and CFO of MDAgree Inc. a provider of store-and-forward telemedicine services designed to make physician-to-physician clinical collaboration more efficient and more profitable. Prior to MDAgree, he was the Vice President and General Manager of the Clinical & Quality Outcomes department, as well as an inaugural employee, of Inovalon, Inc. (NASD:INOV). Under his oversight, Inovalon’s quality management product portfolio achieved six straight years of double-digit revenue growth based on new product introductions, organic market share gains and strategic acquisitions. Earlier in his career, he held a number of senior roles in accounting and investment management services, as well as served as an officer in the United States Marine Corps. Mr. Marquez graduated with a Bachelor of Science, General Engineering from the United States Naval Academy, and has been a Chartered Financial Analyst (“CFA”) charterholder since 2004. FinStrat Management (“FSM”) is an outsourced financial department services firm. Exclusively serving B2B SaaS companies, we provide fractional: Chief Financial Officer, controller and accounting services. Web: https://finstratmgmt.com/ LinkedIn: https://www.linkedin.com/company/finstratmgmt/ Twitter: https://twitter.com/finstratmgmt Please email [email protected] if you'd like a free consultation. ---------- This episode is brought to you by: The Substance Use Disorder Treatment and Recovery Loan Repayment Program (STAR LRP) gives behavioral health providers up to $250,000 to repay school loans in exchange for working full-time for six years at an approved site. Apply now through July 22, 7:30 p.m. ET. ---------- The #HCBiz Show! is produced by Glide Health IT, LLC in partnership with Netspective Media.  Music by StudioEtar
July 16, 2021

The Art of the Possible: Doing Health System Innovation Right with Houston Methodist Center for Innovation

Learn how one health system prioritizes, measures, executes, and diffuses innovation in a purposeful way.
July 9, 2021

The AWS Diagnostic Development Initiative with Grace Kitzmiller

Applications are open for the second round of the AWS DDI with $12 million in compute resources and technical support is available to organizations to accelerate their work in diagnostics. Learn more about the program and how you can apply.
July 2, 2021

Multicultural Patient Engagement to Improve Clinical and Business Outcomes with Abner Mason

Learn how thoughtful patient engagement that accounts for the multicultural realities of your patients can drive health equity, improve outcomes, lower costs, and even increase revenue for health plans and providers. Plus, details on ConsejoSano's startup journey with a few key lessons for healthcare entrepreneurs.
June 28, 2021

Healthcare Costs, Pricing, and Consumerism w/ Steve Ambrose

Healthcare consumerism, price transparency, and costs are top of mind in healthcare today. And while they sound great, there is a mountain of complexity hidden in plain sight that makes it difficult to move the needle. We'll explore companies that are making a dent, and possibly changing the business of healthcare.
June 9, 2021

The Moral and Business Case for Oral Health Integration with Dr. Myechia Minter-Jordan

Today we’re talking about Oral Health... the incredibly important aspect of our health that is strangely treated separately from everything else. Meanwhile, it’s a huge driver of health disparities and COVID mortality, and more than 65 million Americans have no dental coverage. Let's explore the business case for closing these gaps.
May 28, 2021

The #HCBiz Show!

The #HCBiz Show! is the podcast dedicated to unraveling the business of healthcare. We help innovators understand the endless list of conflicting priorities and incentives competing for their customer’s attention. Whether you’re launching a product, improving a workflow, or promoting a best practice, we’ll help you align your value proposition and message with the things healthcare leaders need right now.
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Team

Don Lee

Don Lee

Don helps organizations launch new Health IT products and services. He’s a product and business development consultant and accomplished Health IT expert with a 20-year track record of driving value with technology.

Don began his career as a custom software developer and eventually built and led a team of more than 30 engineers. Later, he was the subject matter expert, product manager and head of sales and marketing for a digital health startup that launched a SaaS-platform focused on administrative simplification in healthcare.

Today, Don is President of Glide Health IT, LLC, a consulting firm that helps forward-looking organizations align their Health IT and business strategies. The firm specializes in business and product development with a focus on data aggregation, interop, analytics, and quality measurement.

Don is a co-founder and partner at VBP Forward, an organization that’s building a bridge between community-based organizations and the healthcare system through educational content, workshops and conferences.
Shahid Shah

Shahid Shah

Shahid N. Shah is an internationally recognized and influential healthcare IT thought leader who is known as “The Healthcare IT Guy” across the Internet. He is a technology strategy consultant to many federal agencies and winner of Federal Computer Week’s coveted “Fed 100″ award given to IT experts that have made a big impact in the government. Shahid has architected and built multiple clinical solutions over his almost 24 year career.

He helped design and deploy the American Red Cross’s electronic health record solution across thousands of sites; he’s built several web-based EMRs now in use by hundreds of physicians; he’s designed large groupware and collaboration sites in use by thousands; and, as an ex-CTO for a billion dollar division of CardinalHealth he helped design advanced clinical interfaces for medical devices and hospitals. Shahid also serves as a senior technology strategy advisor to NIH’s and TATRC’s SBIR/STTR program helping small businesses commercialize their healthcare applications.

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