Financial Complexities in the Healthcare Industry

by | May 5, 2014 | PKF Texas - The Entrepreneur's Playbook®

Russ: This is PKF Texas, Entrepreneur’s Playbook. I’m Russ Capper, this week’s guest host, and today I’m here with Jeff Toal, CEO of Med-Enterprises. Jeff, welcome to the Playbook.

Jeff: Thank you for having me here.

Russ: You bet. All right. We’ve had your director of business development, Jay Comeaux on, real interesting model. I’m real curious though what motivated you to follow this path into health care and start this company.

Jeff: Well, that’s a good question. I asked myself that a few times myself, but I’ve been in health care for about 20 years and I’ve seen the evolution of health care itself in services and efficiencies and I thought that we had a pretty good tight ship on collecting information and collecting the revenue as it’s supposed to be collected but we were collecting what we knew to collect and I came across an opportunity in a meeting and they were describing how they go about using some technology and compliance with state law and contracts. I said, “My company does that.” And they said, “Well, just look at it.” So I did and when I looked at it, we weren’t doing that. It was intriguing that you could actually find things that are missing even though you think that you’re pursuing everything that’s available.

Russ: And you guys are finding lost money there, is what you’re doing.

Jeff: Amazing. It really is.

Russ: The complexity of health care is mind boggling. The complexity of the financial accounting side is over the top and you guys saw that, right?

Jeff: We have. The evolution of technology itself and the driver in health care has pushed technology to a point where you actually can see more information inside of there than the more arcane days of spreadsheets and abacuses and things like that. So it’s been fascinating to let the technology catch up to the revenue opportunities that we can find.

Russ: Fantastic. Well, thanks for sharing that with us.

Jeff: Thank you for having me.

Russ: You bet. This has been another Thought Leader production brought to you by PKF Texas Entrepreneur’s Playbook. Tune in next week for another chapter.

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