John May

Today’s subject for our Healthcare Roundtable was social networks in health care, how we engage with patients, and the entrepreneurial opportunities that come with that:

[Producer's note: Skype didn't cooperate too well today, so the broadcast is a bit choppy. Our apologies...]

1. Starting off, to set the table for the conversation, we discuss the general practice of how the general public searches for information about their health and illnesses on the web, and the impact on patient care. But are there benefits to people being informed?

2. Social networks can be great information resources for BOTH patients and physicians. Patients are yearning for more specific information about their personal health care.

3. We discuss both the strengths and challenges of social networks in health care.

4. An agreement that social networks catering to a niche health care topic is a prime opportunity for entrepreneurs to come in and provide a meaningful solution, and business opportunity.

5. The strength of social networking in healthcare is not about the individual, but about teams, and making it easier for physicians to connect to discuss medical cases. This eliminates the needs to be together in a physical location, which is difficult.

Marshall Maglothin

7. How do you monetize social networks in health care? Or do you?

8. Discussion around some other wellness and patient projects that are currently under way, all examples of how technology and social interaction is changing the patient and physician experience.

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John May

Today’s subject for our Healthcare Roundtable was how social media and related technologies are applicable to the health care industry. We discussed the following topics:

1. Why technology, at least from a social media perspective, has not gotten a toe hold in the health care sector. True innovation verses simple speeding up the old school methods…

2. What can we do to help the physicians and clinicians better utilize and maximize social technology?

3. We need to set up an expectation, and create time in the day, to enable physicians to do more high-level consults via the social web… These are NOT social media apps… these are now clinical tools…

4. Is building a “Facebook” for doctors the right approach?

5. Is social for physicians all about collaboration?

Marshall Maglothin

7. Will we crowdsource diagnoses? And solve problems without physicians having to physically meet face-to-face.

8. How to get more collaboration after the early adopters get the networks started.

9. The protocols for reviewing high resolution images such as CT scans and such, and how people across the country can review and make decisions on the transmission of those large files.

10. 90% of U.S. healthcare is coming online in the next five years.

11. The real impactful change we will see will come from an interactive collaboration from physicians and IT entrepreneurs.

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Mike Robertson

On today’s show, we continue with Part Two of a new series called The Top Ten Insurance Mistakes Made by Small Business. We will discuss the final five mistakes this week.

Over 20 years, Mike has seen it all, and has come up with the ten most common mistakes made by small businesses with regards to their insurance decisions. The goal here is to make you aware of mistakes you might be making, how to correct them, and how best to work with your agent to make your insurance policy work for, and protect you.

First, here is last week’s show, where we discussed mistakes six through ten…

So we continue:

5. Allowing your policies to cancel for non-payment – tell agent – use LPR to cancel.

4. Obtaining a “plain vanilla” E&O policy for your tech business – need security breach, virus, media, privacy / Failure to realize that policies are not “cookie cutter” – silicon medical device example.

3. Overusing “Additional Insured” Certificates – get the endorsement!

2. Not notifying your agent of a possible claim – could result in claim denial by carrier! – not penalized for “occurrence notice”. Allows for carrier to begin defense strategy with panel counsel.

1. Using an insurance agent that doesn’t understand your business (Technology, Life Sciences), and that doesn’t have access to multiple insurance companies and carriers.

You can download a PDF of the Top Ten List of Insurance Mistakes Made By Small Business by clicking here –> Top Ten Insurance Mistakes

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Mike Robertson

On today’s show, we launch Part One of a new series called The Top Ten Insurance Mistakes Made by Small Business. We will discuss the first five this week.

Over 20 years, Mike has seen it all, and has come up with the ten most common mistakes made by small businesses with regards to their insurance decisions. The goal here is to make you aware of mistakes you might be making, how to correct them, and how best to work with your agent to make your insurance policy work for, and protect you.

So we begin:

10. Not taking the time to understand your insurance / Failing to insure critical areas of your business – building, property, business income (unpaid claim example), liability, E&O – “general liability” – no E&O, premises vs. products, umbrella, non owned auto, auditable policies

9. Allowing your personal lines agent to do your business insurance

8. Forgetting to notify your insurance agent of business changes – building, property, work comp, vehicles, multi-state exposures

7. Using your personal vehicle for business without notifying your agent (uncovered claims), make certain on non-owned and hired auto liability, and hired car physical damage

6. Not complying with workers comp statutes – NC – Need WC if have any combo of 3 FT, PT or 1099’s – Exclude the business owners? Different states have different requirements for various entities (LLC, S-Corp, C-Corp).

You can download a PDF of the Top Ten List of Insurance Mistakes Made By Small Business by clicking here –> Top Ten Insurance Mistakes

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A special show today, discussing the mind-blowing opportunities for entrepreneurs in the health care IT space.

John May

On today’s show, Charles, Marshall, John and I discussed the following topics:

1. John shared with us the mission behind, and purpose of, TrustNetMD.

2. Physician-focused, non-clinical delivery, and collaborative process….and TrustNetMD’s role in these.

3. Can physicians use social networks to improve health care? Is that more manageable than email or blogs?

4. The entrepreneurial opportunities within health care and health care IT.

5. Why the health care sector lags about ten to fifteen years behind other industry sectors…and what that means for tech opportunity… Just imagine the data transfer necessary with millions and millions of patients daily…

6. Health care…ripe for disruptive innovation…

7. The importance of analytics in health care, especially at the primary care level.

8. There is no CRM for patient care, no patience relationship management process…

9. The impacts of the health care debate going on in Washington, DC.

10. Why is health care reform so hard? Why does it seem so complicated?

Stay tuned to the show! Coming soon, the four of us will reconvene to continue our conversation around the subject of health care technology…

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Charles Davis, SIVAD’s CFO and a partner in The Meadowmont Group, a private equity firm, continues a series of conversations around equity raises – what to do, how to prepare, how to recruit and how to communicate with potential investors.

In this episode, you’ve made the decision to seek investment capital. Now, how do you find investors?

Charles discusses how you can find local groups of investors looking to support local startups. Reach out to them, and in many cases, they are marketing themselves.

Have a good idea, know your idea, understand the numbers, and tell a clear story about what you do, and how you will do it.

Charles also talks about the importance of seeking family investment, and why.

Finally, Charles discusses the value of crowdfunding and micro-financing.

Charles Davis is currently CFO for Sivad Business Solutions LLC, a regional document management and process automation company that specializes in the government, education, healthcare and small business sectors. Additionally, he is managing partner in The Meadowmont Group, a private equity fund specializing in healthcare and technology investments. Charles has a MBA from the Kenan-Flagler Business School at the University of North Carolina.

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Dr. Nancy Golson and Ron Davis

Today’s question: Where can technology be used and implemented to improve education for special needs student?

1. Dr. Golson explains the importance of data, and keeping better records of how children are performing.

2. Children each learn at a different pace, and with technology, and they can sit and practice at an appropriate pace. And be a great supplemental teaching tool for the teacher.

3. Tools such as smart boards can also be great platforms to teach interaction and group thinking.

4. SIVAD assists by setting a system that collects data on how children are performing, supports managing the classroom, managing their data, tools that support all the requirements around serving special needs education students. SIVAD also teaches and trains the teachers on how best to implement and utilize the software to get the most possible impact.

Here is Part 1 in the series… Part 2…

[The series is hosted by Red Crayon President Dr. Nancy Golson and SIVAD President Ron Davis. Email Ron Davis with any questions, or to learn more.]

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Mitzi Kincaid joins us today on SIVAD Radio. Mitzi is the owner of Kincaid and Associates, and has extensive experience in both business and business law. She also serves on several non-profit boards.

You can learn more about Mitzi and her firm here.

Nothing more important, as a business, to deal with legal counsel who knows something about business. And that is what makes Mitzi Kincaid so refreshing.

In this episode, Charles, Mitzi and I discuss:

1. The critical legal elements you need to consider when launching a new business venture, which include things like risk management, human resources, and accounting.

2. For an attorney to serve a business well, they have to fully understand the business, or “get in the cracks,” as Mitzi puts it…

3. Considering the life sciences and technology spaces, we discuss both the current state of those markets and the legal issues for start-ups and growing companies.

4. Is this a good time to launch an entrepreneurial venture, and if so, what the CRITICAL first steps when launching their venture…Mitzi shares her bar stool analogy…

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Not long ago, I was fortunate to moderate a business roundtable with the advisory board of SIVAD Business Solutions. The collection of talent and brain power included the following gentlemen:

Ron Davis, President of SIVAD
Charles Davis, CFO of SIVAD
Dr. Richard Morrison, Retired Eli Lilly executive, Adjunct Professor, UNC Wilmington
Don Akery, VP of The Power and Signal Group
Spencer Broadhurst, Executive VP, Newbridge Bank

If you are wondering about growth trends, both domestically and internationally, you need to listen to this conversation. If you are an entrepreneur, you need to listen to this conversation. Finally, if you believe to your core that technology is the critical element to future growth opportunities, you need to listen to this conversation.

Dr. Morrison talked about the overall business environment and future trends. Don Akery talked about the intersection of technology and sales and operations. And Spence Broadhurst discussed market trends in commercial banking and finance.

This thirty-eight minutes of business conversation is something you don’t want to miss. As an entrepreneur myself, I found this chat inspiring and educational…

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Kelly Harris

Kelly has worked in the nonprofit space for over 25 years. The mission of Gilda’s Club is to ensure that all people impacted by cancer are not alone, empowered by knowledge, strengthened by action, and sustained by community. You can learn more about Gilda’s Club Delaware Valley here. And learn about how to make a critical contribution here.

On the show, we discussed the following highlights:

1. The challenges of operating, marketing, and funding a non-profit in today’s economic struggles.

2. As with all non-profits, we discussed how to stay competitive in today’s very challenging and competitive fundraising environment.

3. We discuss the similarities between non-profits and running a business, and the similarities between nonprofits and entrepreneurial ventures.

4. Kelly shared some innovative ways they are reaching out to potential donors.

5. We discussed the importance of grants and the grant-writing process to non-profits.

6. Marketing is becoming an increasing important element of thriving non-profits.

7. Co-host Charles talks about the utilization of strategies to raise venture capital also apply to non-profits.

8. We discuss the role of technology and non-profits.

9. Finally, Kelly shares her vision for where non-profits are going over the next 3 to 5 years.

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