Name(s): Mukul Mehra, MD and G.T. LaBorde
When healthcare providers see the cost of tests and medications, while they are working in the medical record, they tend to be more diligent when ordering. The result is they tend to order fewer and less expensive tests and medications. This efficiency is both good for patients (because many medicines and tests have some risk of side effects or complications) and it saves valuable resources. Today, IllumiCare has 65 hospitals under contract, from Florida to Hawaii, and many more where it is under consideration.
Q & A
Why did you start your company?
Dr. Mehra is a practicing physician. His personal frustrations with seeing patients suffer from the effects of unnecessary tests and medications led him to seek out ways of empowering providers with data not currently available at the point of care – the human and economic cost of tests and medications.
What has kept you and your company in Birmingham?
Birmingham is home to incredibly talented healthcare technology veterans who can build, market and service IllumiCare in ways that add a lot of value to our customers.
What do you think makes the Magic City, “magic”?
Many people here share the value of God, family and community, which tends to make us more generous, kind and servant-hearted towards others.
What's the most enjoyable project you're working right now?
Introducing IllumiCare to hospitals all across the U.S. is an exciting project. There is no other solution like it, so marketing it requires patience. But, measuring its impact with our existing customers, in both dollars saved and patient risks reduced, motivates us to share the story with as many hospitals as we can reach.
What advice would you give budding entrepreneurs?
Of all the businesses started in 2011, only 3% made it to their fifth year. Yikes! Plan for success, but be prepared for failure. Organize your finances in a way that failing won’t devastate you or your family. Only then will you be free to take chances and swing for the fence.