The business of health care in the United States is gigantic. It has grown into a $3 trillion dollar industry as of 2017. At the same time, treating illness and keeping Americans healthy is facing enormous challenges, from ever rising costs to the inequality between who can afford treatment and who cannot.
High technology, emerging and transforming business models are also constantly reshaping the landscape. How we deliver high quality care to the maximum number of people is subject to the ongoing battle of corporate titans, such as CVS, Aetna, UnitedHealth Group and pharmaceutical companies — all striving for maximum market share and generating profits.
The recent news that Amazon is considering getting into the prescription drug business has sent shock waves across the industry. It has prompted CVS to consider buying Aetna to solidify a position against Amazon.
This robust environment has given rise to a new class of entrepreneur – Healthcare IT specialists. An example of such a professional is Drew Madden, an engineer who specializes in healthcare technology.
Madden earned his degree in industrial engineering with an emphasis on medical systems from the Iowa College of Engineering. He began his career at the Cermer Corporation and joined Nordic Consulting Partners in 2010. Nordic is the largest Epic consulting company in the world.
Drew Madden was instrumental in Nordic’s growth from an operation with 10 employees to 725. It went from three to 150 client partners. Also with Madden’s help, Nordic increased revenues from $1 million to more than $130 million annually.
Madden left Nordic in 2016 to strike out on his own as a private consultant. He views the enormous transformation happening in the high-tech healthcare industry as an amazing opportunity to help ordinary people get superior health care while continuing to nurture a $3 trillion sector of the economy.
In particular, Madden said he is passionate about electronic medical records and what this key function in health care management can do to transform how we do healthcare. Record keeping is vital for more efficient and profitable delivery of services with an eye on the most important outcome – providing excellent health care to all American citizens.