As an entrepreneur, you have to stay very focused. When you have a setback, you have to brush it off and get back on your feet again. You have to just keep moving forward.

 

Michael Basco began his career and training as a doctor in the military. The military gave him a great foundation to open his own practice when he made his exit. He served as a doctor of Obstetrics and Gynecology in his own practice for twenty-five years, simultaneously serving as an emergency room physician. He transferred his talents to the managed care industry and became the national medical director for Cigna. Cigna is a global health services provider. He continued his career with Molina Healthcare. Molina Healthcare provides Medicaid and Medicare and Medicare Advantage to individuals through government programs. He has also interacted with the pharmaceutical industry. His experience provided him with the intuitiveness to be able to address five markets.

Mr. Basco opened his business as a savvy entrepreneur in practice to provide teams of practitioners and clinicians with the support required for evidence-based medicine solutions. He has developed electronic medical software and mobile apps that interact with patients. He incorporates his tools and medical expertise with his medical apps and software. The culmination of the integration of tools and expertise empowers him with the ability to provide his well-researched evidence-based solutions.

Where did the idea for your company come from?

I was evaluating the direction I wanted to take for the next stage of my career. I was considering whether I was going to stay in my clinical practice, or if I was going to use my experience and take a different path. I recognized that I had been interfacing with medical finances in five different markets in the medical industry. I have the ability to speak with clinicians, government, the veteran’s administration, Medicare, Medicaid, and the pharmaceutical industry. I believe that we must speak about value-based medicine and improving the quality of care while lowering costs. We need to improve patient satisfaction. Pharmaceutical companies are developing new products and they bring them to market without clearly communicating the benefits of the product. If we can have a conversation prior to the product launch so that the product has a better chance of success.

What does your typical day look like and how do you make it productive?

We typically schedule meetings with individuals to discuss the medical issue that we will be researching. After the discussion, I begin preparations so that I can present evidence-based medicine to practitioners. I provide the information to support the research I’ve done for the solution that I will propose.

How do you bring ideas to life?

I observe what the problem may be and find solutions to problems. Many times, we improve solutions. As a physician, I have always tried to improve the quality of healthcare. Once I understand the problem I begin to research. I research medical data and speak with specialty teams. Once the idea is out, we discuss how to best move forward with our solution.

What’s one trend that excites you?

Artificial Intelligence is becoming more accessible in medical records. The integration can help healthcare providers improve their care to patients. Healthcare providers are still human and are subject to errors from time to time. The integration of A.I. reduces errors that may impact a patient’s life. I believe A.I. will reduce errors greatly over the next five to ten years.

What is one habit of yours that makes you more productive as an entrepreneur?

One habit that I have that increases my productivity is my attention to detail. I am very compulsive and I do not procrastinate. I am also very motivated and very focused.

What advice would you give your younger self?

I would most definitely tell my younger self to be more mellow. I would tell myself not to expect anyone else to operate at my speed. Sometimes, a process can take much longer than you might expect.

Tell us something that’s true that almost nobody agrees with you on.

I am a Republican who did not vote for Trump. My friends say I am a Democrat stuck in a Republican. I believe I put my country first and politics second. I voted for Hilary Clinton, I don’t believe in Trump.

As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?

As an entrepreneur, you have to stay very focused. When you have a setback, you have to brush it off and get back on your feet again. You have to just keep moving forward.

What is one strategy that has helped you grow your business?

One strategy that I use is to keep a very positive attitude when speaking with people. Always be thankful to people. Even if they are a little cranky, if you are positive with them, you can change their day. When I am at the veteran’s administration, I always shake their hands and thank them for their service in taking care of our veterans. I think they are the most under-appreciated staff in the medical industry. They are truly over-worked and always swamped. I am a veteran myself, and I appreciate the fact that they are taking care of all of us. As a result, even though they have very little time for me they always make the time for me. The key strategy is to be positive with everyone that you’re interacting with. They will help you accomplish your goals, and they become a part of the solution.

What is one failure you had as an entrepreneur, and how did you overcome it?

There was a time when I hired a couple of people who appeared to be able to accomplish the job with which they were tasked. It did not turn out that way. Consequently, I was taken advantage of. When it became obvious, I just fired them.

What is one business idea that you’re willing to give away to our readers?

There are many mobile apps that can improve many patients lives. I think that this space is wide open. It could be an app that will be a reminder notification that will name the medication that you’re supposed to be taking at the specific time that you need to take it. Or some solution along those lines. I think that space is wide open for medical services.

What is the best $100 you recently spent? What and why?

I think the best money that I’ve spent is when I helped pay for my nieces and nephews’ tuition for them to continue in school.

What is one piece of software or a web service that helps you be productive?

I produce a lot of presentations. I really rely on Word and PowerPoint. It allows me to present visual and audio communication as I am talking and relaying my message. I present evidence-based medical articles and points of interest. It assists me in educating clients.

What is the one book that you recommend our community should read and why?

I would recommend everyone to read the Bible. It is a basic book that teaches us kindness. It is a basic manual for people to be Kind to one another. It teaches people how to help one another. It teaches people how to make this world a better place. It is a book that has stood the test of time.

What is your favorite quote?

Real heroes don’t wear capes, they wear dog tags.

Also, Martin Luther King said the real measure of a man is how they behave under stress and duress.

Key Learnings:

• One good strategy to use in business is remaining positive with whom every you are working with.
• When you have a set-back, you have to brush it off and get back on your feet again. You have to just keep moving forward.
• Do not expect anyone else to operate at my speed.

Connect:

https://www.linkedin.com/in/michael-basco-11abab74
https://www.facebook.com/pages/Basco-Michael-A-MD/161173573904430