Find a Problem and Create a Solution

Dr. Jon Larson and his partner started a healthcare technology company because they wanted to improve medical care. They realized that there was an opportunity to use technology to improve the lives of both physicians and patients, so Medspoke was born.

MedSpoke is a physician-centric company, focused on solving healthcare credentialing challenges. It eliminates credentialing headaches, by keeping credentialing data automated, organized, current, and available.

Giving Physicians Mobility and Flexibility

Any physician or healthcare organization that has licensing, credentialing, or enrollment needs can use MedSpoke as an end-to-end solution.

It's a need born out of Jon’s own experience and pain. He wanted to be mobile and flexible to work in multiple places. But each new employer would ask for the same information in a different form.

healthcare technology ompany

There's a major physician shortage with lots of open positions. Delays are aggravated by excessive credentialing paperwork. There had to be a better way of quickly placing medical professionals into available opportunities. MedSpoke solves three problems that every physician deals with when wanting to work:

  • Obtaining a state license.
  • Being credentialed with an employer.
  • Being credentialed with health plans.

The University of Tennessee Physician Executive MBA Program

I'm very thankful to have the support of the University of Tennessee Physician Executive MBA Program offered by the Haslam College of Business. You’ll remember that I interviewed Dr. Kate Atchley, the Executive Director of the program, in Episode #25 of this podcast.

The UT PEMBA is the longest running, and most highly respected physician-only MBA in the country, with over 650 graduates. Unlike most other ranked programs, which typically have a duration of 18 to 24 months, this program only takes a year to complete. And, it’s offered by the business school that was recently ranked #1 in the world for the Most Relevant Executive MBA program, by Economist magazine.

University of Tennessee PEMBA students bring exceptional value to their organizations by contributing at the highest level while earning their degree. The curriculum includes a number of major assignments and a company project, both of which are structured to immediately apply to each student’s organization.

Graduates have taken leadership positions at major healthcare organizations and have become entrepreneurs and business owners. If you want to acquire the business and management skills needed to advance your nonclinical career, contact Dr. Kate Atchley’s office by calling (865) 974-6526 or going to vitalpe.net/physicianmba.

Where There's a Problem, There's an Opportunity

After completing residency, Jon practiced clinical medicine as an ER physician. He just wanted to find a good group and ride off into the sunset.

But only a few years of practicing emergency medicine, Jon wanted to see what else was out there. So, he took a job as a Medical Director at Aetna.

Later, he wondered if healthcare administration might be the thing for him. He noticed that most physicians who made the transition to healthcare administrator usually had an additional degree. So, he went back to school to get an MBA.

As his career progressed, he noticed that there were process and system inefficiencies everywhere. And he realized that wherever there's a problem, there's an opportunity. He developed a strong entrepreneurial urge to solve those problems.

Jon knew he always wanted to do something with his MBA. Making the switch to be a full-time entrepreneur gave him that opportunity. But he learned that the MBA did not fully prepare him for his new role.

“Let's get these physicians where they need to be, so they can deliver and provide that access to care.”

Dr. Jon Larson

Thoughts on Running a Startup

The only way you learn to lead, is to get in front of people, make decisions, fall on your face, learn from mistakes, and keep going.

Nine out of 10 startups fail. Companies that stick with their original idea, that no one's paying for, go down in flames. To be successful, they need to pivot, reconfigure and focus on execution.

Jon notes that “your best marketing tool is word of mouth, which is predicated on customer success.” Give your customers the outcomes they want. Otherwise, your business won’t survive.

 

 

And entrepreneurship is all about action. It's 10% idea, but 90% execution. The execution part is where most ultimately fail.

Day-to-Day Life of an Entrepreneur 

Every day, Jon has a “To Do” list. There are many things going on that he must handle, and he’s pulled in different directions. Every day is about prioritizing and setting goals. Yet, no two days are the same.

He’s also a catalyst who pushes initiatives forward and looks for opportunities to continue to grow his business.

Starting a healthcare technology company might be an option for physicians wanting to do something beyond clinical medicine. However, starting a business has been the toughest thing Jon has ever done. He says he usually feels one of two emotions running a startup business: Euphoria or Terror.

Jon reminds us that running a new business is not glamorous. There are many day-to-day mundane things that have to be done. If you're going to do it, you must be willing to get your hands dirty. Nothing is above or below you. You’ve got to be willing to do whatever it takes to move the company forward.

Links for today's episode:

Learn more about Jon Larson and Medspoke here:

Thanks to our sponsor…

Thanks to the UT Physician Executive MBA program for sponsoring the show. It’s an outstanding, highly rated, MBA program designed for working physicians. It might be just what you need to prepare for that joyful, well-paying career. You can find out more at vitalpe.net/physicianmba.

Thanks again for listening. I hope to see you next time on Physician NonClinical Careers.

As always, I welcome your comments and feedback.

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Podcast Editing & Production Services are provided by Oscar Hamilton.

Disclaimers:

The opinions expressed here are mine and my guest’s. While the information provided on the podcast is true and accurate to the best of my knowledge, there is no express or implied guarantee that using the methods discussed here will lead to success in your career, life or business. 

Many of the links that I refer you to, and that you’ll find in the show notes, are affiliate links. That means that I receive a payment from the seller if you purchase the affiliate item using my link. Doing so has no effect on the price you are charged. And I only promote products and services that I believe are of high quality and will be useful to you, that I have personally used or am very familiar with.

The information presented on this blog and related podcast is for entertainment and/or informational purposes only. It should not be construed as medical, legal, tax, or emotional advice. If you take action on the information provided on the blog or podcast, it is at your own risk. Always consult an attorney, accountant, career counsellor, or other professional before making any major decisions about your career. 

 

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