One City Built to Last

y rich monetti
NEVER MAKE
the Same Mistake Twice
The Affordable Care Act being firmly entrenched, its gross over-complication of healthcare processes
must eventually give way to something more streamlined. Possibly – but history shows that when
government is involved, it never comes down to just one do-over. Nonetheless, Spencer Silverman of
Rugby Medical knows the real world isn’t so forgiving, and any increase in the number of iterations
to get it right could mean the end. “The key is to never make the same mistake twice,” says Silverman.
He learned that lesson
over equipment
warranties. Getting
started and eager to
close deals on the medical
equipment Rugby
provides to doctors, hospitals and clinics,
he left himself vulnerable by offering
clients guarantees beyond what manufacturers
provided. “It ended up coming
out of my pocket,” he said, noting losses
incurred on equipment such as CT scanners
as well as EKG and MRI machines.
Of course the learning curve comes at
a price, but it can emerge from strong
strategic partnerships. “I think if you set
yourself up with the right people, mistakes
can be fixed,” he explained.
Silverman acknowledges co-owner’s
Joe Schulman and the continuing link he
enjoys with Ashley Herschman owner of
Absolute Medical, his previous employer
– all while he searches for new synergies
in China, the Middle East and Europe.
But circumspection begins with standards
set at home. “We biomed-certify
these machines before they go out to our
customers,” Silverman emphasizes.
Reinforcing the need for quality, Silverman’s
vendors understand that their
success hinges heavily on his, and they
are ready to kick a goal for Rugby at a
moment’s notice. “I know if I need their
help, they will be there in a second,” he
said confidently.
Even so, Silverman understands the
importance of reciprocating. “We
don’t run our business on credit,” he
notes. “That keeps our relationships in
good standing.”
The ACA has some clients backing
away from certain medical equipment
as no longer yielding high enough
returns. Still, Silverman predicts that
businesses will make the most of this
new paradigm by eventually finding
new angles. “It will start to pick up,”
he asserts.
The evolution of ultrasound machines
could represent the kind of opportunities
alluded to above, since 2D,
3D and 4D technology has opened up
business opportunities for lay people
who are willing to learn about them.
“Many (of these machines) offer features
like adaptive image processing,
which can make them much easier
to use and more accurate for certain
types of diagnostics,” according to
Rugby Medical’s information.
Nonetheless, Silverman’s main goal
is to make a splash using the strength
of some of the larger players in the
pool. “We want to have as many big
fish as we can – sort of rolling our business
out to become that big player in
the industry,” he concludes.
www.rugbymedical.com
THE SUIT MAGAZINE - NOV 2014