The US Healthcare system is complex due to the regulatory, compliance, reimbursement, and highly competitive environment. In this environment, Filipino American medical professionals and entrepreneurs have started businesses in Community Health Centers, Elder Care businesses, Health Care consulting businesses, Health Recruiting services, and more recently, Medical Technology enterprises. For these businesses to grow and scale, they will face issues including:
- Intercultural challenges;
- Building a strong brand and reputation;
- Stiff competition from large mainstream established providers;
- Access to funding and capital to start and sustain a healthcare business is a significant hurdle with
- Filipino Americans often relying on family, relatives, and community funds;
- Family and internal management resources may be insufficient to support scaling and growing the business;
- Navigating the complexities of billing and claims appeals are time-consuming, costly, and impact cash flow;
- Complying with a myriad of federal, state, and local regulations;
- Licensing and inspections
My experience working with companies in Medical Device, Diagnostics, and Health Services, and with Filipino American business owners, enables me to address these challenges with a strategic and systematic approach which includes;
- Defining and understanding the target client segment
- Are you targeting Private Pay, Medicare, or Medicaid clients?
- Design service and product features to meet the needs of the target client.
- Build a brand that is consistent.
- Build on the caregiving tradition of the Filipino culture, and sharing that culture with staff.
- Installing a Compliance and Quality professional to educate and train staff, improve written policies and procedures, and implement a compliance management system.
- Implementing systems and processes that will generate data to systematically improve the revenue cycle.
- Strengthening the accounting and reporting processes and system
- To provide financial and operational information to meet regular internal and external reporting requirements and support for a business plan
- To build a pitch deck for bankers, investors, and other interested parties to raise capital
- Learn how AI can be incorporated into the information, financial, and operational processes.
- Promote and celebrate the Filipino caregiving tradition and inform the larger community about the sacrifices and contributions made by Filipino American healthcare providers in the US Healthcare system.
- The Philippines is the world leader as an exporter of skilled nursing professionals.
- Filipino American nurses make up 4% of the US nursing workforce and during the Covid 19 pandemic represented 33% of the nurses who died serving their patients.
- Filipino Americans are the second largest group among Asian Americans in the US
If you are a Filipino American Healthcare business owner, other international business owner, or someone running an international business and in need of assistance from someone who understands the needs of a culturally diverse business, please get in touch with me at francis@cfos2go.com.
I am a co-leader for the International Business Practice Area at CFOs2Go.
If you would like to discuss your specific needs and explore how AI can benefit your business, the 2Go Advisory Group’s International Business Practice and Practical AI Practice Groups will work together to help. Our experienced professionals can guide you through every step of the process, from developing an AI strategy for your bank to selecting and implementing the right solution for your business.
For your Talent needs in direct hire, full-time or part-time contract staffing, contact Executive Recruiter, Leesa Meintzer at leesa@2gorecruiting.com.
Francis Ota is a seasoned financial executive with more than 40 years of experience in finance, accounting, and business operations. Born in Tokyo, Japan, and raised in multicultural communities in the United States, Francis brings a unique international perspective to his work. Francis has held senior financial roles at prominent companies such as Hewlett-Packard, Medtronic, and Quest Diagnostics. His expertise spans various industries, including technology, healthcare, and telecommunications.
Leesa Meintzer is an executive recruiter with more than 20 years of experience in talent acquisition. She excels in partnering across various business functions and brings a comprehensive perspective to talent acquisition. She works with Engineering, Healthcare, Product, Finance, Accounting, Business Operations, Sales, Legal, Human Resources, Learning & Development, and Talent Acquisition for corporate and high-growth start-ups.
COMPANY
2GO Advisory Group™ is a San Francisco Bay Area-based pioneer of fractional C-suite services. We leverage our consulting partners and recruiting to customize solutions across executive functions. Business owners and executives value our expertise which spans dozens of industry sectors and practice disciplines. With more than 35 years at the forefront of fractional executive services, our flagship CFOs2GO® has evolved to include COOs2GO™, CHROs2GO™, CIOs2GO™, CROs2GO™, and Talent2GO™. Our multidisciplinary approach helps organizations navigate change, enhance executive leadership, execute business strategy, and operate in both the U.S. and internationally. We use technology and a network of C-Level consultants to provide local representation in virtually every metropolitan community in the U.S. We strive to evolve to meet the emerging needs of clients at every stage of their business. Discover more on www.2goadvisorygroup.com and follow us on Linkedin at 2GO Advisory Group, CFOs2GO, COOs2GO, CHROs2GO, CIOs2GO, CROs2GO, and CMOs2GO.
2Go Advisory Group, CFOs2Go, COOs2Go, CHROs2Go, CIOs2Go, CROs2Go, CMOs2Go and the 2Go Advisory Group, CFOs2Go, COOs2Go, CHROs2Go, CIOs2Go, CROs2Go, and CMOs2Go logos are trademarks or registered trademarks of 2Go Advisory Group and/or its affiliates in the U.S. and other countries. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between 2Go Advisory Group and any other company.