The panel discussion will feature (pictured from left to right) Dr. Rajan Naik of JSA Healthcare, Dr. Jawahar Taunk, an angel investor in healthcare start-ups, and legal expert Radha Bachman, Shareholder at Carlton Fields Jordan Burt. The session will be moderated by Kunal Jain, a well-known healthcare entrepreneur in Tampa Bay.
Why Kunal is a big deal: Kunal Jain built a successful medical billing and revenue cycle management company, PracticeForces. Also, he has been a catalyst in establishing a local chapter of TiE in Tampa Bay, which seeks to develop a start-up support community by identifying, investing in and mentoring new businesses.
The biggest opportunity I see is where there has been growth of a physicians group from five physicians to 20 physicians and they are struggling to keep their revenue cycle management intact. We have expertise in the business side of practice management and in the service side as well. Our business model is focused now on how we can enhance or increase revenue for medical groups, medical practices and solo physicians. We’re working with them to see how we can keep increasing their profits and margins and find opportunity within their existing model such as alternative streams of revenue. Many sole physicians are going to work with bigger groups or hospitals. But it isn’t necessarily because their revenue is down, correct? From last year, some of the practices we have seen, the revenue has increased from managed care for some of the codes. It’s the unknown fear within the physician’s community that’s at issue. They don’t see what will happen six months down the line. Because of that fear, they are deciding to go work with a bigger group.
I like to read business books around creativity, that’s my passion. Creativity is about saying, don’t just dream, take action. Do something. It’s not like you just think creativity and creativity is done. For me, if you think, you do it. Sometimes, people who work with me say hey, you are always in a rush. I know I am always in a rush but sometimes you come up with great ideas and if you don’t implement them, they have no value. If you read some book, at least pick a few things and take action. Execute it in your lifestyle and business. For TiE events, I always want to make sure that when they come to our events, they pick up a few good tips to implement.
My dad has been the most influential person in my life. He always worked hard in his life and gave to the community through his social efforts. He was never paid well or made enough money but he was still popular amongst the community for his selfless work.
I recently heard Bharat Desai and Manoj Bhargava. They are very inspiring figures. Bharat Desai lives in Florida but created Syntel, one of the largest outsourcing companies in the world.