The Future of Healthcare

The Future of Healthcare

SUMMARY KEYWORDS

diagnostics, preventative medicine, incentivize, healthcare practitioners, healthcare industry, opportunity, telemedicine, build, precision medicine, healthcare, services, patients, supplementation, treatment, standpoint, telehealth

SPEAKERS: Jesse Razo

00:00 – Intro – The Future of Healthcare

In my opinion, when you put together, things like diagnostics and precision medicine, you put together supplementation and preventative medicine. And, you put together telemedicine, which we know removes geographical constraints. Then, what you have is an opportunity to take a six-figure business to seven, a seven to eight. And then, an eight to, in my opinion, even it’s a nine-figure business.

00:35 – How to Grow Your Business in the Healthcare Industry?

Hey, guys, real quick, I got a quick training for you. Today, I’m going to talk with you about some of the things that we’re seeing in the marketplace. And, are some things to be conscious of if you’re in the healthcare industry and you’re looking to grow your organization. Then, this comes from, kind of some experience that we’re seeing with our clients.

So, over the last year, we’ve had an opportunity to work with diagnostics, and with doctors, both in preventive medicine, and pain management. And, we’ve also had an opportunity to work with the emerging market in at-home diagnostics. So, we have laboratories that are customers of ours. And, we have companies that we build-out product offerings that are direct to consumer diagnostics. So, that’s B2B and then also B2C diagnostics.

01:28 – What Healthcare Advancements Are We Working on?

In addition to that, we are in the process of building out telemedicine applications. Also, we’re in precision medicine utilizing diagnostic services and preventative medicine utilizing supplementation. And, we’re helping some of our clients build out online stores. Now, this comes from a relationship that we’ve created with a wholesale supplement manufacturer who specializes in building out white-label supplements.

And, you take doctors’ formulations and bring them to the market in a cost-effective way. So, there’s a lot of really great stuff going on, I just kind of want to share where we’re at. And, some of the things that are super exciting because, in my opinion, when you put together, things like diagnostics and precision medicine, you put together supplementation and preventative medicine. And, you put together telemedicine, which we know removes geographical constraints.

Then, what you have is an opportunity to take a six-figure business to seven, a seven to eight. And, an eight to, in my opinion, even it’s a nine-figure business. So, I’m going to talk with you about some of the things that we’re working on. And, some of the exciting projects that we’ve had an opportunity and you’re truly blessed to work on.

So, it’s kind of my perspective regarding where the markets going, from a healthcare standpoint. Now, when we take a look at health care, some of the things like COVID have taught us. And, I don’t even know if I can say that without getting blacklisted on YouTube. But, COVID, it’s like some kind of direction. So, I was actually in financial services about 20 years ago. And, in 2002, and 2003, I was in financial services.

03:33 – How did I get started in the healthcare industry?

Then, the things that we sold were health insurance and life insurance. And, we sold life insurance his whole life and equity index life as a retirement vehicle. In addition, life insurance is incredibly important in order to A, and transfer wealth. And, B also to make sure that you have a benefit left over for your loved ones. Then, your loved ones are taken care of.

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So, during that process, I kind of saw where or how insurance worked. And inevitably, what it incentivized in regards to insuring people. Because we had to go through the process of getting people cleared for life insurance. And, getting people cleared for health insurance. Then, we really structure their entire financial package in order to accommodate both insurance needs and costs. It’s like budgeting, retirement, mortgage, and everything like that.

So, that’s kind of where I got my start. And then, I moved into sales, marketing, and marketing technologies. Then inevitably, I ended up opening up razoRSharp networks over a decade ago. And we’ve been helping our clients optimize their online environment and automate their customer lifecycle. Now, over the past year to year and a half, I’ve had a great opportunity to work in the healthcare industry.

And, really kind of leverage the knowledge that I learned, 20 some-odd years ago about the insurance industry. Also, it’s what they incentivize because if you take a look at health care and the way that health care works. Like, Medicare and some of the other health care providers out there, Blue Cross Blue Shield. And, are some of the major healthcare practitioners out there.

05:28 – How Healthcare Incentives are Changing and Why it Matters?

So, the way that they incentivize doctors is to take a limited amount of time associated with their health care. Now they’re starting to work more towards it. Or, lean more towards preventative medicine because it just makes sense to fund preventative medicine. And, it’s because it saves you money in the long run. But the reality of it is, is that they’re not there yet.

So, you have doctors that are specializing, that are integrative healthcare practitioners that spend more time with their patients. And, really focus on a holistic approach to their patient’s healthcare needs. I’m kind of ranting right now, but hopefully, we’ll be able to pull this all together in the end. So, what we’re finding or what I’m seeing in the marketplace is a huge call for supplementation.

And, preventative medicine, a huge call for diagnostics and precision medicine, and a huge call for telemedicine. Then, it’s really getting access to specialized and personalized health care. And, that gives us the ability to spend a little bit more time. Because we remove the geographic constraints associated with health care. In the past, healthcare was restricted by geography. This means, that no matter where you were at, you had a limited selection associated with primary care.

And also, pain management, precision care specialists, and things of that nature. So, unless you were incredibly wealthy and could travel throughout the United States, and whichever country that you live in. And, you had limited access to these specialists. And, you had limited access to the health care providers that were in your geographic area. Well, that is being removed. What COVID has taught us is that buying behavior has fundamentally changed, forever.

07:25 – How COVID Changed Healthcare Practices and Businesses

Now, more people are comfortable with buying online, and more people are comfortable with Zoom meetings. And, more people are comfortable with teleconferencing and things of this nature. Then also, more people are becoming more and more comfortable with telehealth services. So, it is when you think about that from a business standpoint. And, if you’re a practitioner, that’s looking to take your business to the next level.

Then, it’s one of the things that you should be focused on is building out your telehealth solution. And, it’s creating an environment where you’re not geographically restricted. Because that’s one of the things that COVID really forced upon the population. And, it’s the fact that we were forced to tele-treat patients and forced to utilize telehealth more. And, these things became more and more common or accepted.

So, what COVID did, in addition to shutting down the United States is, it gave us a comfort level with buying online. And, it also, does things like telehealth. Then, what it did is it pushed customers and it made them try or seek more remote services. And this is because they realized that if they moved outside their geography and sought more remote services.

Then, they could get actually better services from people who have that figured out. So, that’s the first thing that taught us. Well, the second thing taught us is that healthcare is a commodity, right? Healthcare is a commodity in regards to what it is that is delivered. So, if you want to take your healthcare practice to the next level, then you need to de-commoditize. Like, what it is that you offer?

09:16 – How do Insurance Companies Encourage Healthcare Practitioners?

And, this is the way that insurance companies incentivize most healthcare practitioners is that de-incentivize the most highly valued activities. Now, the most highly valued activity for a doctor is time, right? And, it’s being able to spend one one-on-one time with patient care. Then, it’s being able to hold your patients to high-level accountability if you’re presenting them with a health plan. Or, you’re presenting them with a treatment plan.

And, making sure that they’re following that treatment plan is the highest value activity. But, it’s actually de-incentivized by the insurance companies, right? They de-incentivized those long patient visits. Then, they de-incentivized preventative medicine, and our follow-ups associated with things that you’ve not been diagnosed with yet. It’s interesting because when you go to the doctor and you think you have an ailment or something like that.

Or, you’re not feeling well and you haven’t been diagnosed with something. And, it’s almost a challenge to get any type of diagnostics done. You almost have to come out of pocket and go directly to the consumer with the diagnostic service. This means, that your primary care practitioner if you’re utilizing the major insurance brand is not going to order.

Like, hormone testing, vitamin testing, or deficiencies unless you have something that’s really severely going wrong with you. Meaning, if you go in just feel slightly off like you want to get tested for a hormone imbalance. Then, they’re not going to do that for you unless you have some type of acute symptom associated with that. So, it’s a symptom-based treatment. Meaning, you have to wait until you’re having some type of negative symptom in order to get treated.

11:15 – The Future of Healthcare and How it can be improved?

Or, before they do any type of diagnostics, or preventative medicine, which in my mind, is completely backward. I think when you’re feeling off or when you’re not performing at your best. And, when you are living your best life or achieving your best results, no matter what age you are. You should be able to go to your primary healthcare practitioner.

And, get the diagnostics that you need from a hormone standpoint, a vitamin standpoint, or a treatment standpoint. It’s whether it’s cancer treatment, and diagnostics, whether it’s blood sugar treatment and diagnostics, or vitamin deficiencies, treatment, and diagnostics. And, it’s whether or not it’s hormone imbalance treatment diagnostics, there should be a path for us to easily access these technologies that are out there. So, that’s what we’re going to do. And, we’re going to be bringing these types of technologies to healthcare practitioners.

12:09 – The process of scaling a business in the healthcare industry

And, so that they can: A. provide a better product to their patients. And B is scaling their businesses in ways that maybe they haven’t thought about in the past. You know, take their six-figure business and scale it to seven. And, take their seven to eight, and eight to nine. Now, we’re utilizing preventative medicine and supplementation, utilizing diagnostics, services, and testing, and utilizing personalized care.

Like, it’s in a way that gives us the ability to spend more time with our patients. And, deliver a better product or service. So, that’s our goal and our vision. We’ve come to this space because the reality is that we’ve had a great opportunity to work with b2b diagnostics facilities. And, we’ve had an opportunity to work with b2c diagnostics facilities. Also, to work with supplement manufacturers and white labeling companies that we can give people access to.

And then, we’ve also given ourselves the opportunity to work with healthcare practitioners who are looking to scale their businesses. Then, figure out how to add additional streams of revenue. Well, it’s way easier to offer six products to one customer, than to offer one product to six customers. So, think about that.

13:29 – Setup Notification, Subscribe, and leave some feedback!

And hopefully, you think about what it is we shared with you today. There just going to be a lot more information that’s to follow. And, we’re super excited about some of the things that are coming out in 2023.

So hopefully, we’ll get an opportunity to talk with you. If you have any questions, go ahead and leave those in the comments section if you’re on our YouTube channel. If you’re not, jump over there, subscribe to the channel, and set up notifications.

So you can stay up to date on our future projects and also training associated with innovations in the healthcare industry. And it’s also, innovations in precision medicine diagnostics, preventative medicine, and telemedicine. So, I’m looking forward to speaking with you. And, until the next time, make today and every day a fantastic day. We’ll talk with you real soon.