Healthfuse
Address: 700 W. Virginia St., Suite 301, Milwaukee
Year founded: 2010
Product or service offered: Health care vendor management and advisory services
Projected 2014 revenue: Not disclosed.
President: Nick Fricano Other key members of the leadership team: Michael Zimmerman, co-owner
Target clientele: Short- term acute care hospitals over 100 beds and multi-facility health systems
Business organization memberships: Healthcare Financial Management Association, The Executive Committee, CEO Focus
What has fueled your company’s growth? “Healthfuse’s growth has been fueled by our passion and commitment to achieving measurable value for our partner hospitals. Healthfuse only gets compensated when its clients achieve yield. Through our efforts, partner hospitals have been able to reduce third party costs by 10- 20 percent and increase third party performance by 20-30 percent. Our growth has also been fostered by industry changes, as hospitals look to exhaust all efforts to maximize profitability by better expense management, improved revenue recovery and the need to provide improved patient experience with emphasis on the financial experience.”
What is the biggest obstacle to your company’s growth? “The biggest obstacle to the company’s growth is educating the market on why Healthfuse, a vendor, should manage other vendors and is able to do it better than hospitals can do it themselves. Another hurdle is managing growth and ensuring that we have the best talent in the market to support our clients.”
Do you plan to make any changes in your company in the coming months? “Our primary changes will be hiring additional employees and continuing to grow our team.”
Who are the business people, locally or nationally, whom you admire? And what traits do those people exhibit that make you admire them? “Gary Keller, author of the book ‘The One Thing’ and his viewpoint on prioritizing what’s truly important in business, personal and spiritual life and focusing on that one thing. Greg Schaack, CFO of Saint Josephs/Candler Health System, and his determination to not accept even the smallest of errors and his refusal to settle for anything less than perfection. Reed Felton, president of Felton Consulting and CEO Focus, and his ability to listen, provide humble leadership and his talent for recognizing peoples’ strengths and placing them into the best position for success.”
What is the outlook for the business conditions of your industry over the next several months? “The outlook in health care is partially uncertain but very promising for Healthfuse in terms of the ever-changing market.”
What is your company’s most important growth strategy right now? “Our most important growth strategy right now is recruiting top talent to serve our growing client base. “
