Healthfuse
324 East Wisconsin Ave., Ste. 1300, Milwaukee
www.healthfuse.com
Year founded: 2010
Product or service offered: Healthfuse provides vendor compliance and management services tailored for hospitals.
President, CEO and co-owner: Nicholas Fricano
Leadership team: Michael Zimmerman, co-owner; Jon Myhre, vice president of operations
Projected 2015 revenue: Not disclosed
Target clientele: Short-term acute care hospitals with more than 100 beds and multi-facility health systems
Business organization memberships: Healthcare Financial Management Association, TEC
What has fueled your company’s growth?
“There are several market changes that have fueled the company’s growth over the last few years. They include: government and regulatory changes that impact hospital reimbursement for services rendered; hospitals’ increased reliance on outsourcers in an attempt to reduce operational costs, gain efficiencies and remain nimble; and because of increased vendor reliance, hospitals require compliance measures to obtain transparency into how their vendors serve their patient accounts from a billing perspective, which Healthfuse provides through its technology and services.”
What is the biggest obstacle to your company’s growth?
“There is a need for our services and tools in the market. Because of this, growing our client base through marketing and sales efforts is not the primary challenge. Instead, our biggest growth obstacle is finding, recruiting, and training qualified people to serve the needs of our growing client base.”
Do you plan to make any changes to your company?
“Our biggest changes pertain to the investments we’re making in technology. We are developing unique technologies that automate compliance auditing, contract management, and vendor-hospital communication and reporting. These technologies will create better operational efficiencies for Healthfuse and will drive more predictable results for our hospital clients.”
What is the outlook for your industry?
“The outlook is positive for Healthfuse. Hospital and vendor consolidation, regulatory changes, and growing reimbursement challenges in the health care market will continue, creating an increased need for compliance and financial controls to better manage hospital-vendor operations/relations.”
What is your company’s most important growth strategy?
“Beyond continuing current marketing and sales efforts to increase our client base, our biggest growth strategy is to commercialize current and new technologies to both position our people to be more effective at serving our hospital clients, and empower our hospital clients to better manage and strengthen their relations with their vendors.”
