For the first birthdays of my four grandkids, there have been party hats and “smash” cakes. But what does a small team of entrepreneurs do on the first anniversary of founding their firm? They take stock and plan for year two.
David Muntz, Russ Rudish and I launched StarBridge Advisors in October of 2016. So how does a health IT advisory firm measure success after year one?
Number of clients – We have already assisted 12 healthcare provider organizations with some repeat engagements and have national reach.
Revenue – Any first-year projections can be a crapshoot but you need to start somewhere. We may have been overly optimistic but we are well on our way with our client base and pipeline.
Size of our team – In addition to our three principals, we now have almost 20 advisors on our team available for interim management, leadership support and consulting. Their IT leadership experience includes serving as CIO, CTO, CISO, CMIO or CNIO in healthcare organizations.
Channel partners – We work closely with several larger consulting firms who offer services that we don’t. We partner with Healthcare IT Leaders, a leading staffing firm and Rudish Executive Search, which specializes in healthcare. And we are working with a few start-up technology vendors who are bringing to market new and novel solutions for healthcare providers.
Referrals – Our principals combined have over 90 years of experience in the healthcare industry. Our relationships are a key component of growing a new business and getting known in the market.
Name and brand recognition – A year ago we had decided on a name and incorporated, but had yet to figure out our branding. That was some fun work at first; by January we launched our website and social media presence. Continue reading
Like you, I woke up Monday morning to the horrific news that at least 50 people were dead and over 400 people injured at the kind of venue we have been to before: an open-air music event with thousands of people.
But this was not a terrorist attack in some foreign country. This was our country. The United States of America. The land of the free. But sadly, it is also the land of guns. Americans own an estimated 265 million guns, more than one gun for every adult.
This time it was a 64-year-old white man who had amassed over 40 weapons and had carried over 20 of them into his hotel suite a few days earlier. These were semi-automatic weapons modified to shoot rounds so fast that in just 10 minutes he ended or injured over 500 lives. Not to mention the psychological damage for the thousands who escaped, survived, tended to others on the scene, transported them to hospitals or cared for them at the hospital.
I was in Chicago attending a healthcare forum on Monday. But no one was talking about what had happened. Are we so numb to gun violence in this country that we watch that initial news story in horror but then move on? Were the few hundred people in that meeting room with me distracted during the day and wanting to know more about what had happened? Were they quietly looking for answers? Instead of just looking at email on their phones were they looking for news updates and trying to comprehend this awfulness yet again?
I saw an alarming image and statistic today. According to the Centers for Disease Control and Prevention, 1.5 million Americans have been killed in the U.S. in gun related incidents since 1968. That is more than the 1.2 million service members killed in all the U.S. wars combined. The caption said, “We are at war with ourselves”. Continue reading
A week after Hurricane Maria devastated Puerto Rico, we are hearing that this United States territory is facing a humanitarian crisis. That is a phrase we have all heard before about poor countries in other parts of the world – it could be the result of a natural disaster or a civil war. A crisis like this saddens us, but it’s usually so far away, and we just move on.
What is a “humanitarian crisis”? Wikipedia defines it as “a singular event or a series of events that are threatening in terms of health, safety or well being of a community or large group of people”. Another way of saying it – when the basics of life are unavailable – food, water, transportation, healthcare, and communications.
Puerto Rico is us, yes US. It is not somewhere far away. It is 1000 miles from Miami. 3.5 million people live in Puerto Rico. It is 3 times the size of Rhode Island – in square miles and in population.
Less than 50% of Puerto Ricans have running water. The entire island is without power, the power grid has been destroyed. Only 29 of 69 hospitals on the island are operational. Hospitals still open are running on generators and quickly running out of fuel. In the capital city of San Juan, 2 people on life support died when their hospital’s generators ran out of diesel.
Interviews with San Juan Mayor Carmen Yulin Cruz on MSNBC brought this home. She could not have been more articulate in her plea for federal help. As she talked about the dire situation and the reality of hospitals running out of power, she described them as places to care for and heal people, not to be death traps.
Luis Guiterrez, U.S. Representative from the Illinois 4th congressional district, whose parents were born in Puerto Rico described in vivid terms what the elderly are going through there. He asked us to think about what it would be like for our own elderly parents who may live alone. What if they didn’t have access to food or water and they needed insulin. He called for the U.S. military to go in and quickly set up a power and communications infrastructure as we know they can and do in wartime.
The USNS Comfort is larger than many of the largest hospitals in this country with 1000 beds. Continue reading
“I need to go to the Container Store”. When I hear my husband say that simple sentence, I’m totally in. Unlike when he says he’s going to a nearby office supply store for something, I have to go with to the Container Store. There is always something there I could buy to get myself more organized.
I work from home when I’m not doing an interim management engagement, so my home office is a continuous improvement project. Or is that just an excuse to fool myself and buy more organizing tools?
Before the trip last weekend, I stepped back to assess my needs. After all, you can’t just walk into that store and head to the home office section without a plan. I opened the storage closet in my home office. I was instantly reminded that I had unused organizers from previous trips plus unwanted products from my husband’s home office. The guilt set in.
I made a plan for organizing my desk and working files better. I decided I didn’t need any new organizers for now. But I did want one more way to hang stuff up on my office wall. So, I carefully measured the space and thought about the product I’d buy.
There’s something about the Container Store that sucks you in. There’s always a sale and always cool new products. It’s not that close to us so fortunately we don’t go that often. The challenge is to not wander around the store fantasizing about all the possible containers and organizers that could transform your life. Who couldn’t be more organized somewhere in their life? Whether it’s your kitchen, your bathroom, your laundry room, your closets, or your office, there’s something calling to you. Continue reading
In the past four days, I’ve learned about and interacted with ten different healthcare systems. Some are current consulting and coaching clients while others are prospective clients. Their needs for services range from interim management to leadership development to small, discrete consulting projects.
Their challenges and needs are unique, but not necessarily new to me. After 30+ years in healthcare IT, I “know a lot because I have seen a lot” as the insurance company advertises. But if I am going to be effective in meeting each client organization’s needs, I need to get to know each client organization, the players and the culture.
I enjoy the day to day work of an interim CIO engagement like my recent one at Stony Brook Medicine. It’s very rewarding to be part of a larger team making a difference for patients. But interacting with many different organizations around the country and helping them solve problems is an entirely different kind of challenge. It is fun and rewarding in its own way.
On that first call with a prospective client, you need to establish your credibility and determine if your services are a match to their needs. Listening skills are critical – when talking to a prospective client and once you get the work. You need to go deep to understand their unique issues. And at the same time, you need to apply your experience and knowledge from other organizations.
Five new leads for StarBridge Advisors have come my way this week. I’m chasing them all. Once I understand the unique need, I’ll match one of our advisors and prepare a proposal for the client.
This level of client activity requires good administration, organization, and tools. We have the tools and continue to refine our processes. We’re trying to fully leverage SalesforceIQ and use it consistently as a firm. Leveraging our tools and creating repeatable processes is all part of the work this first year in business. Continue reading
This is not about a fabulous vacation on some distant island.
This is another version of “adventures in a new city”. That’s what my husband and I have called my interim CIO engagements.
This time “our adventure in a new city” was on Long Island. It was more my adventure than my interim in Cleveland last year; my husband spent more time with me there. We did have two weekends together on Long Island: one in the Big Apple and one to enjoy the island in the summer.
The weekend in NYC was what you’d expect – great restaurants, museums, the subway and a lot of walking. On Long Island, we visited the wineries on the north fork and went to the beach on the south shore. We got more ideas for our garden after a walking tour of gardens and landscapes in Port Jefferson. It made me want to spend more time here and, who knows, with a ferry between New London, Connecticut and Orient, New York, we just may do that.
The island is 118 miles long – the longest and largest island in the contiguous United States. Suffolk County makes up the eastern 2/3 of the island. I learned the history of Long Island’s growth and eastward expansion over the past 50 years and how Stony Brook Medicine fits into that growth, providing quaternary and tertiary care to Suffolk County. Continue reading
This week marks three years of blogging for me. People still ask me where I find the time and how I get ideas for topics. My answer is always the same. I make it a weekly discipline – shaping the ideas during the week, writing a near final draft on Thursday night, then finalizing and publishing it first thing Friday morning. The ideas continue to flow though I’ll be the first to admit there are some Thursday nights when I’m still looking for inspiration.
Just think how I felt the Thursday when I saw this tweet from someone I follow?
“Tomorrow is Friday and we all know what that means! No, not just Cinco de Mayo but @sgschade blog comes out! #anticipation”
No pressure I thought. Fortunately, it was the week I had shadowed a nurse and my blog topic was obvious.
By the numbers, there have been close to 75,000 total views. Who would have thought that three years ago? I remember someone asking me who I thought would read my blog besides my family and close friends. Believe me, I have a small family who doesn’t always read it and few close friends. Continue reading
We have two little dogs. Pepe is a 10 year old Shih Tzu/poodle and Coco is an 8 year old Shih Tzu /Bichon. Pepe had been getting frailer and weaker throughout the Fall months.
We thought this might be her last year with us. But her blood work in November showed that she has a thyroid problem. She now gets a daily medication and has more energy and no longer sleeps most of the day. The name Pepe (as in peppy) is fitting her again.
She had also been losing weight and getting very thin. So, we started her on canned food. Maybe she had a problem with the dry food she has always eaten. Or maybe Coco, who is dominant, wasn’t letting her get to the food dish. What dog or cat doesn’t love canned food??? Pepe loves it and has been gaining weight. While my husband and I are still getting used to that nasty moment when you first open the can of wet food, we do it because we love her and want her to gain weight and get strong. It’s working.
When we recently took Pepe to the vet to deal with a digestive problem, the vet found she had a broken tooth and the area around it was inflamed. She would need surgery to have it pulled. That happened this week and all is well. She is even back to eating treats that take some chewing. In hindsight, the broken tooth could have been the reason she stopped eating the dry food.
Animals can’t talk or “use their words” as we tell small children, so it’s hard to know when something is wrong. And it’s hard to know the interconnections between all these issues. Continue reading
There could be as many different wrap-ups on HIMSS17 as there were people there – over 42,000. No one sees the same vendor exhibits, hears the same presenters, or talks to the same people. There are conferences within conferences. So here’s just one wrap-up – mine.
The first speaker I heard did a great job of scaring all the CIO’s. Kevin Mitnick, the world’s most famous hacker and security consultant, and author of several books including his most recent one, The Art of Invisibility, was the opening keynote at the CIO Forum on Sunday. His talk, “The Art of Deception: How Hackers and Con Artists Manipulate You and What You Can Do About It”, included real-time demonstrations. He drove home the point about how vulnerable we are as individuals and organizations. I highly recommend checking out his website to learn more or get scared yourself.
Dr. B.J. Miller was the final speaker at the CIO forum. His talk, “What Really Matters at the End of Life”, was a very sobering view of palliative and hospice care yet strangely inspiring at the same time. As he said, “Spending time thinking about your time on the planet while you have time is important – don’t wait.” I highly recommend listening to his Ted Talk with this same title.
I have been asked to serve on the CHIME Education Foundation Board again so Monday morning meant a board meeting. Continue reading
The countdown to HISS17 is in the final days. As I wrote the past two weeks, the best way to think about your prep for HIMSS17 is in three ways – education, vendors, and networking. This post is the last in a three-part series – focusing on networking. It has to be the last, you’ve probably finalized your schedule for education and vendors. Now, you’re thinking about what to pack at this point. For us Northerners that means pulling out some summer like clothes and shoes – I’m looking forward to that part!
Have you been to HIMSS conferences before and know tons of people in the industry? If so, networking is probably not an issue for you. Are you relatively new to HIMSS conferences and want to make a lot of new connections? If yes, then this post might be useful.
I know a few things about networking. After all, one of my daughters’ nicknames for me is the “network queen”. Here are some tips to consider:
Scheduled receptions and meetups – There are plenty of these including an orientation for first time attendees, opening reception for all attendees, local chapter events, vendor receptions, and topic focused Continue reading