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Industry: Medical

Industry: Medical

Michael's Results

Handled all legal, insurance, and contracting for incorporation

Secured 6–12 months
of ops funds

Grew annual revenue to $6 million by year 2

In healthcare, nothing is ever turnkey. Oftentimes, there are multiple hoops to jump through—an obstacle that can be debilitating unless you have the proper guidance. Yet, two emergency department physicians were determined to launch a contract group that could truly make a difference in the current state of hospital emergency rooms across Illinois.

Their vision was no easy feat: improving and streamlining processes and collaborating with hospital administrators to provide the best care possible. The partners knew they would encounter barriers along their journey to make this happen, and still they persevered.

However, they knew they couldn’t do it alone. The partners needed help developing the full concept, building the business, and funding their idea. They knew this business could become a reality if they had the right person at their side. And, the partners ultimately determined that person was Michael Straza.

Straza’s business acumen and experience in healthcare, particularly, was what attracted the partners to him. Straza handled all incorporation documentation—business formation documents, governing records, nondisclosure items, insurance—as well as physician recruitment, billing contracts, and accounting procedures.

From a financial perspective, Straza’s creative approach to getting operations off the ground allowed the company to gain traction without relying on a conventional bank for funding. This resulted in 3—6 months’ worth of operational monies; an invaluable asset until funds began to start to solidify from insurance companies.

As the business grew, Straza worked closely with 20—30 contract physicians who he recruited, alongside serving as a liaison for hospital administrators/medical directors across multiple hospital facilities. He also played a key role in branding and communications, working directly with the design agency and leading decision-making surrounding design-related elements such as brand name, logo, font, etc. Oftentimes, a person in Straza’s position does not have the know-how (nor bandwidth) to serve in this capacity. Thankfully, he was able to provide his expertise in this area on top of his other contributions.

Again, there are challenges specific to healthcare that not just “anyone” can navigate. Straza was able to overcome the barriers to success and help the physician partners move from concept to corporation—and a successful one at that. In his time as Operations Director, Straza helped grow the company’s revenue to $6M annually.

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