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Meet Nick Hernandez of Abisa

Today we’d like to introduce you to Nick Hernandez.

Nick, can you briefly walk us through your story – how you started and how you got to where you are today.
I come from a family of healthcare workers (doctors, pharmacists, nurses) but I took a different route. I’m a graduate of the U.S. Naval Academy and a former Marine Corps officer. Afterwards, I obtained my MBA from Wake Forest University and began my healthcare career as an administrator for a private practice oncology group. Eventually I started to see an opportunity to help other private practice physician groups with the business side of their medical practices. In 2007 I started my healthcare consultancy focused on doing just that.

Has it been a smooth road?
The biggest challenge has always been marketing to physicians. Unlike with other industries, private practice physicians are extremely busy with taking care of patients and another large chunk of their time is taken up with staying on top of clinical education. This leaves very little time to get their focus on business needs. I have learned to be a prolific article writer for medical magazines and blogs and also do a lot of public speaking at healthcare conferences nationwide.

So let’s switch gears a bit and go into the ABISA story. Tell us more about the business.
My consultancy focuses on what I call strategic healthcare initiatives. As such, most of my clients are private practice physicians who are looking to grow and make some sort of strategic move that will give them a competitive advantage. For example, they may be looking to work on the organizational structure with physician partners or they may be looking at a potential merger with another medical practice. Consequently, I do a lot of strategic planning with physician groups as well.

How do you think the industry will change over the next decade?
Healthcare is obviously undergoing big changes at this time and I would not expect any finality anytime soon. On the patient side of things, I think we will see a continued push for consumerism. That is, patients more aware of healthcare dollars and more of an effort to put them in the driver seat as they seek medical care. Thus, initiatives such as telehealth and medical tourism become key. On the private practice physician side of things, there is already a trend of physicians coming together to form larger groups and I believe this trend will certainly continue. This could be physicians of the same specialty merging their practices, or physicians of different specialties merging their practices. These mergers will allow them to achieve better efficiencies and lower their overhead expenses as they integrate the business side of their medical practices.

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