All entrepreneurs face challenges - whether you're a 7-year old with a lemonade stand or a founder launching a dream product. Lucky, there is a really simple way to overcome ANY obstacle and we learned it as a toddler: Great communication!
It’s well understood that growth isn’t easy without a content strategy to support it, and as a founder, there are countless business objectives - extending far beyond sales and marketing - where communication MUST be at the center.
However, being a healthcare founder requires more than a content strategy. It demands the living and breathing dedication to relationships, flexibility and advancement… all possible with communication.
Starting, growing and running a business is complex and exhausting. When that business sits within healthcare - an industry evolving rapidly, yet somehow also slow to adopt, communication can be our best tool to move forward.
The Founder’s Survival Guide highlights the specific communication techniques necessary to solve over 10 healthcare entrepreneur challenges.
To access the full guide today, click the button below. And in the meantime, check out some of my favorite tips.
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Challenge 1 - Insurance and Reimbursement
Conversations with insurance and reimbursement organizations can be a pain 😩 But did you know that payers can provide really useful information as your organization grows? 💡
Here are some payer discussions you don’t want to miss out on:
1️⃣ Product Development 👨🏻💻
Engage with payers early in your product development journey. Understanding their specific requirements for coverage and reimbursement will guide your product's features and clinical validation processes to align with their expectations.
2️⃣ Competitive Edge 🏃🏻♂️
Ask questions to gain insights into the competitive landscape and identify potential market niches.
Are there similar products that are already covered?
If yes, find and highlight what makes you different.
3️⃣ Pricing 💲
Communicate with payers to determine optimal pricing and remain attractive to both customers and payers.
4️⃣ Market Access Planning 📈
Negotiate contracts, understand pre-authorization processes, and establish efficient channels for reimbursement claims.
5️⃣ Coding and Billing 🏢
Proper coding and billing are non-negotiable. Communicate with insurance entities to get a handle on the necessary codes and billing procedures for your healthcare product. BTW - if your product requires specific coding for providers to be reimbursed, be sure clear and robust training is part of your sales and marketing strategy (ie: content foundation).
6️⃣ Policy Changes and Updates 📲
Healthcare policies evolve. Stay informed through ongoing communication with payers so you can adapt your product strategy and avoid potential coverage disruptions.
7️⃣ Market Expansion 🌱
Thinking of expanding to new regions or markets? Engage with insurance and reimbursement organizations in those locations. Understanding local policies and requirements is essential for a smooth expansion process.
8️⃣ Patient Advocacy 📣
Don't underestimate the power of patient advocacy groups.
Their support can be a game-changer on the journey for insurance approval of your product.
And remember, your journey might be complex, but with the right communication strategies, success is within reach. 💡🚀
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Challenge 2 - Talent Acquisition
If you’re assembling your dream team, remember that you're not just hiring skills, you're hiring people.
Sometimes the personality and character traits of the candidate are more important than the actual skills you’re looking to hire. After all, those hired are the folks who will shape the company culture you want to create.
Here’s how to attract the right talent and nurture them through excellent communication:
1️⃣ Strong Identity
Before you start drafting those job listings, get crystal clear about your solution and mission. The words you use not only define your product but also set the tone for who you want as part of the company culture.
2️⃣ External Communication
Articulate your mission clearly in your job listing. Use compelling language that resonates with the type of individuals you want to attract.
3️⃣ Onboarding
Don’t just focus on the nitty-gritty details of the job. Give new recruits the tools to be advocates for your brand by sharing the company's mission, values, and goals. Show them how their role fits into the grand scheme.
4️⃣ Internal Communication
Fancy office perks and Thursday pizza don’t make a great company culture. But strong internal communication does. Make sure everyone feels inspired, heard and valued. Share updates and use an FAQ for guided help when internal challenges arise.
Remember, it’s the people that make the company. Your success and the company culture is in their control. Look for the right character traits to make that happen!
Here’s to hiring the right talent that will bring your vision to life 🥂.
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Challenge 3 - Crisis Management
As someone known for meticulous planning, I've always been averse to curveballs that throw me off course. But one day, I had an epiphany: Crisis management and change management are very similar.
The element of surprise sets a crisis apart, but the fundamental principles remain the same. So, taken from years of change management expertise, here's my 4-step strategy that can be a lifesaver during a crisis as well:
1️⃣ Who 🤷🏻♀️
Recruit influencers who can help facilitate a smooth transition. These individuals assist in the dissemination of information to the team and provide a ‘boots on the ground’ approach to help leadership adjust strategy as needed.
2️⃣ What ❓
Communicate using my signature Communication Trifecta of honesty, integrity, and discretion. Share what you know, admit what you don't, and provide resources.
3️⃣ When ⌚
Timing plays a critical role in how you shepherd your team through change, so don’t forget to communicate early, often and ongoing.
4️⃣ How 🔍
Provide your stakeholders with the resources they need to succeed. Changes bring about many questions, and facilitating the answers will help your stakeholders process and prepare. Consider various messaging tactics to suit each stakeholder- oral messaging, FAQ, a written recap, hotlines, resource centers and more.
Embrace the change and the crisis, and remember, you've got the skills to manage it, even when it catches you off guard. 💪
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Founders - these are just 3 of many obvious and hidden challenges communication can help solve. To get the full Founders Survival Guide click here.
Thanks and happy founding!
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Hi. I'm Jessi and I'm a content engineer. For over 15 years, I've helped countless healthcare leaders, founders and writers break the cycle of messaging mayhem to effortless engage with their audience and finally grow revenue, investments, partnerships & more.
Here are 3 ways to get started:
+ Subscribe to The Checkup: Healthcare communications' best kept secrets, simplified and synthesized for you.
+ Join the waitlist for Engineer Your Foundation, The Digital Workbook: A step-by-step manual, 25+ templates and guided expertise to help you build your foundation or share it with the team
+ Book a discovery call to work with me directly: 6-week intensive where I build your messaging foundation, guide you through implementation and for those interested, stick around for consistent, strategic support