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Care, Code, and Capital explores how healthcare, technology, and investment intersect to shape the future of the industry. Host Dan Brody speaks with founders, operators, and investors about what’s actually working in health tech — and what it takes to turn innovation into real-world impact.
00;00;00;11 - 00;00;25;28
Speaker 1
You're either getting better or getting worse. There's no in between. Like the the idea that you're stabilizing or in the same place is incorrect. If you think you're in the same place, you've gotten worse. AI is the future of everything. Forget health care, right? Everything okay? So? So if we're not all in on figuring that out and how to properly implement it into whatever we're doing, anywhere you're going to fall behind, you're going to fall way behind.
00;00;25;29 - 00;00;35;14
Speaker 1
Right. I'm greedy by not being greedy. Right. Right. So, like, my thing is win win win. We have to be creating ubiquitous wins. If we're winning at the expense of anyone losing, I'm not interested.
00;00;35;16 - 00;01;04;13
Speaker 2
The health care revolution is already underway, and Nick DeStefane is leading it. President and CEO of American Medical Administrators. He's here to talk AI, grit and what it really takes to change an industry from the inside out care code and capital digs into the three forces redefining healthcare, care, technology and capital. One conversation at a time. Welcome back to Care Code and Capital.
00;01;04;15 - 00;01;07;16
Speaker 3
We are here with Nick DeStefane.
00;01;07;17 - 00;01;07;23
Speaker 1
Yeah.
00;01;07;23 - 00;01;21;16
Speaker 3
There you go. Okay. What do you say? It's a tricky one. It's a tricky one. It is a tricky one. Is it? It's it's it's more interesting than Dan, right? And Nick is the, the CEO of AMA, which stands for.
00;01;21;17 - 00;01;23;16
Speaker 1
American Medical Administrators.
00;01;23;17 - 00;01;51;23
Speaker 3
Yeah. It's it's not only an awesome organization, but he's just straddling technology and growth in so many different ways. We're going to get into just a nice conversation, talking about, you know, your journey and and hopefully, I'm sure from the few minutes that we've spoken already, there are so many pearls and gems. Yeah. So be great. But let's start off with let's just talk about how did you get into this business.
00;01;51;25 - 00;01;53;17
Speaker 1
Yeah, I.
00;01;53;17 - 00;01;56;23
Speaker 3
Think you were on a track to play baseball. Yeah.
00;01;56;26 - 00;02;18;08
Speaker 1
Yeah, yeah, yeah. So, you know, I think like most people in nursing homes, maybe not everybody, but most I was kind of born into it. It's a cool story. So, you know, my my dad, you know, he came from a modest or humble background. You know, the classic, you know, worked, you know, five jobs in college, never slept.
00;02;18;08 - 00;02;38;25
Speaker 1
That whole thing, which, you know, I said kind of tongue in cheek, but also like very inspirational and ended up buying his first nursing home out of bankruptcy court in 1989. Wow. Yeah. So he he became the American dream. And I watched him build it from a front row seat, which is what a gift that is, by the way.
00;02;38;28 - 00;03;00;22
Speaker 1
So I tell everyone this because it's so cool and it feels unbelievably fatalistic, right? Like, I literally took my first steps in a nursing home. Really? In life. Yeah. Like I took North Village Park. It's in it's in like, you know, central Missouri. We still have the facility today. It's a big facility, like 184 beds. Yeah, great. Great home.
00;03;00;24 - 00;03;25;15
Speaker 1
But yeah, I took my first steps at North Village Park, you know, around one years old or whatever. And I just grew up in the industry. So like, I literally, you know, I watched him build something special, right? And that is an amazing thing to watch, right? You know, I feel like a lot of people today think that, you know, you just kind of turn on a switch and you become successful, right?
00;03;25;16 - 00;03;26;09
Speaker 3
It's a grind.
00;03;26;15 - 00;03;35;06
Speaker 1
It is a tremendous grind. And I always say it's one of the greatest gifts I ever learned from him. Many, by the way. So this is this is a long list of greatest things.
00;03;35;13 - 00;03;36;11
Speaker 3
Dad. Still with us?
00;03;36;12 - 00;03;54;18
Speaker 1
Oh, yeah. Yeah, yeah. You next door. Oh, wow. Yeah, yeah, yeah, we're very close. Yeah, yeah. And he still has a role in our company. He actually is like the, you know, you know, chief political affairs officer. So he handles you know, he's very close with the governor. And you know he deals with all the political stuff. Right.
00;03;54;19 - 00;03;55;28
Speaker 1
So he's very good at it.
00;03;56;03 - 00;03;58;24
Speaker 3
But there's politics in health care I can't imagine.
00;03;58;27 - 00;04;19;01
Speaker 1
All right. Don't tell anyone you know I know exactly, exactly. Yeah. No. And, you know, it's a real part of it. Because you have to have people who are sophisticated and understand the nuance of what makes it tick. Right. It's not a black and white business. I think a lot of people try to because you have to try to, but it's a very gray business and you have to get those things right.
00;04;19;01 - 00;04;29;21
Speaker 1
You have to. Yeah. So I and he has a great job with that by the way. So yeah. So I grew up in the business. I literally probably understood nursing home operations without even being conscious of it.
00;04;29;27 - 00;04;31;29
Speaker 3
Did you always want to be in healthcare?
00;04;32;02 - 00;04;55;11
Speaker 1
No. Absolutely not. So you mentioned baseball. I played baseball pretty seriously, and I was telling you earlier, it was kind of funny, you know, being scouted and all that kind of stuff. And I went to a small little college prep school, a really cool place. Like, they they only did classes. So, you know, most schools, right? You're nine different classes a day, which is like ADHD, extreme right, which might be great for a person like me.
00;04;55;11 - 00;05;13;20
Speaker 1
But yeah. Yeah. Right. Right. But maybe for maybe it's not the wisest way to go about it. But they did something different that was incredibly impactful for me and actually helped me understand that I actually liked learning because before that I was like, this is BS. Like, this is boring. Like, this is like, this is stupid bouncing all over the place.
00;05;13;22 - 00;05;28;04
Speaker 1
I mean, how do you anyways, you did one class for like two months. That's it. Like eight hours a day. Really. One class. You can really get into it and like, really learn it and like, you know, that's all you were thinking about. And it was it was incredibly important.
00;05;28;04 - 00;05;30;19
Speaker 3
Like what? Kind of like what would be a class you'd be doing eight hours a day?
00;05;30;19 - 00;05;51;16
Speaker 1
Like like like like history, like American history, American history, and like the ability to go into it without breaks and blips and this and that and switches and wow, it's just the staying power was like very legitimate, right. And became infinitely more interesting. And like, you kind of knew like, hey, this is what I'm doing all day. Like, you know, might as well buckle in.
00;05;51;17 - 00;06;08;05
Speaker 1
Right, right. So no, it was a pretty cool experience. But, you know, that was during the the financial meltdown and in 2008 the recession. And they actually like the school had to close early. So they had to graduate as early. So I never played my senior season to baseball. And so I just moved on to other things. Right.
00;06;08;06 - 00;06;08;26
Speaker 1
Right.
00;06;08;28 - 00;06;19;07
Speaker 3
Which that also teaches you a interesting lesson. Right. So if you're if you're locked in for eight hours on one subject, it's also teaching you to, to focus. Yeah.
00;06;19;10 - 00;06;20;03
Speaker 1
A million.
00;06;20;05 - 00;06;24;11
Speaker 3
People to be focused on one thing and not have to bounce around.
00;06;24;13 - 00;06;41;20
Speaker 1
That's exactly right. I think that's the real utility in it, right? That's the real value in it. It's like, you know, you know, kids already have it's a tough time to be alive, right? Social pressures. You don't know who you are, all that kind of stuff. It's so much easier just to focus on one thing the entire time.
00;06;41;22 - 00;06;59;19
Speaker 1
That's the only homework you're doing, right? That's the only thing you're focused on. And it seeps in. Yeah. Like, I mean, do y'all know about you? But, like, I don't remember anything from, like, I remember very little from, like, what I learned in high school. Sure. But not there. Right? Right. Like, not there. And that's cool. It's just a cool thing.
00;06;59;19 - 00;07;05;27
Speaker 3
So which is a complete opposite from what kids are contending with now, which is like 5 to 10 second clips.
00;07;06;00 - 00;07;21;28
Speaker 1
That's, that's that's exactly right. So yeah, I think it did. You know, I've got a million ambitions. I'd love to be able to do something like that in the future. But it was there was a lot of utility in it and it was it was a pretty neat experience. So anyway, it did that, you know, I've been sober for about 12 years now.
00;07;22;00 - 00;07;52;22
Speaker 1
Actually, my 12th sober birthday is June 29th. So here, here. Let's rock and roll. God willing, God willing. Right. So, best thing that ever happened to me, though, was going through that sort of, you know, that sort of challenge early in my life. Right? And it's a tough go, right? I mean, like, you literally have to come to the point where you have to decide, you know, and by that you look like every addict I was unbelievably narcissistic, lived my own world, my best thinking, got the worst outcomes possible.
00;07;52;22 - 00;08;09;06
Speaker 1
So you have to come to a crossroads if you want to live. Which is why I think it's so amazing is like, hey, survival is on the line here. You either have to forego everything that you think makes you you. And by the way, when you're that you're very shallow, you're very empty. All you have are your ideas about you, right?
00;08;09;07 - 00;08;11;25
Speaker 1
That are bullshit, by the way. But but.
00;08;11;26 - 00;08;13;16
Speaker 3
That's a hard that's a hard step to take.
00;08;13;18 - 00;08;14;13
Speaker 1
It's amazing though.
00;08;14;14 - 00;08;15;06
Speaker 3
Most people can't do.
00;08;15;13 - 00;08;31;25
Speaker 1
No. It's amazing. It's what a gift. Right. And I came to the conclusion that, hey, my best thinking got me here. So I need to change everything about my thinking. And for the first time in my life, I said, hey, maybe I should start listening to people who actually know what they're doing. Wow. Which for any addict is like, right?
00;08;31;28 - 00;08;53;08
Speaker 1
Like. And by the way, that's not ever happened to me. By far, by far. It's not even close, by the way. Yeah, but by far it's not even close. So that was a major gift. Came back, went to school, got my degree in business, and then, you know, I didn't. Yeah, at one point I wanted to be a lawyer and a blah, blah, blah, whatever.
00;08;53;10 - 00;09;21;03
Speaker 1
But, you know, during that time period, during that metamorphosis, you start reflecting on things and you start becoming very thankful for things because you're not living that when you know what hell is actually, really, actually hell is every day you're not doing that is pretty good, right? So so you have this natural form of gratitude that, that, that comes out of that experience that like everything is kind of glass half full after that, like even your worst days a thousand times better than you.
00;09;21;05 - 00;09;25;02
Speaker 3
View it through an appreciation lens. Like everything, everything starts to look like positive.
00;09;25;03 - 00;09;47;07
Speaker 1
Actually, I would say like very easily and like that's the major gift that comes from it, right? Because like, even like, I mean, when you build a large company, the challenges you have to go through to do that are immense, right? But having that foundation makes all of that so much more manageable, so much more manageable. Yeah. Like you're like, well, you're not I'm not there.
00;09;47;08 - 00;09;48;25
Speaker 1
Right. Like and like.
00;09;48;26 - 00;09;51;14
Speaker 3
Elevator broken building x, y, z.
00;09;51;17 - 00;09;51;24
Speaker 1
Dude.
00;09;51;25 - 00;09;52;20
Speaker 3
Yeah. We're gonna survive.
00;09;52;21 - 00;10;13;26
Speaker 1
Yeah, we'll figure it out. Like, we'll figure it out, right? And, like, it gives you this calm, and it's what what what a gift that is. Right? So I would say that's by far the most instrumental part of of the metamorphosis that I was able to and fortunate enough to go through in my life. So that was that was the biggie.
00;10;13;26 - 00;10;34;18
Speaker 1
And then I during that time realized, like, how lucky am I to be a part of, you know, this, this industry and this opportunity, right? Like what what an unbelievable opportunity to be able to step in. And, you know, my my dad did a lot of things right with me and amazing dad by the way. Like couldn't be more grateful.
00;10;34;20 - 00;10;48;24
Speaker 1
But he never really gave me anything, which was good, by the way. I mean, like, Christmas was fine, all that kind of stuff. I mean, but, like, you know, a lot of my other friends, you know, their parents would give them this and give them money and get like, no, no, no, no, no, no, go get a job, go do this right.
00;10;48;27 - 00;11;03;02
Speaker 1
So I had a job since I was 15 or like 15 years old, working as an assistant maintenance director and a nursing home. And, and you know, he's like, no, you're going to earn it. And I was like, nothing would make me happier, right? So started out in my.
00;11;03;03 - 00;11;04;13
Speaker 3
That's a gift in and of itself.
00;11;04;14 - 00;11;05;07
Speaker 1
Big time.
00;11;05;07 - 00;11;08;20
Speaker 3
Because it's so much easier just to like, well, you know.
00;11;08;22 - 00;11;16;14
Speaker 1
So that was way easier, right. But easier is easier is almost never the route that you want to take. Right.
00;11;16;15 - 00;11;18;17
Speaker 3
Easier never ends up being good. No.
00;11;18;23 - 00;11;31;06
Speaker 1
You everything worth anything in life you have to work for and you have to work your ass off for. And so you kind of already know right away. Like, if this is simple yet hard, it's probably the right thing, right? Right.
00;11;31;08 - 00;11;42;18
Speaker 3
Hard things was it's there's this guy on Instagram, Graham Weaver. He's a Stanford professor. And he says hard things. The gift of hard things is that you're able to do hard things.
00;11;42;19 - 00;11;43;19
Speaker 1
That's exactly. Oh, that's.
00;11;43;19 - 00;11;44;07
Speaker 3
Exactly right.
00;11;44;13 - 00;12;07;07
Speaker 1
So what I always say is iron sharpens iron, right? So probably probably the best, you know, life hack that one of the best life hacks that I use every day is whenever something becomes challenging or immensely challenging, I immediately thank God for the opportunity to get better immediately and realize that this is an opportunity to grow, and it kind of resets things right from like overwhelming chaos.
00;12;07;08 - 00;12;31;15
Speaker 1
Like, all right, let's lock in. Like, this is how I get better. Like, let's do this thing, right? Right. And it's a paradigm shift from fear to excitement, right. And that's an important thing, right? So so yeah. So I, you know, started off as an eight literally traveled all around the state of Missouri. I was living in like motel eight for like years.
00;12;31;17 - 00;12;32;10
Speaker 3
You're living like a.
00;12;32;10 - 00;12;53;00
Speaker 1
King, living like a ten year, living like a king of Missouri. Right, right, right. So everything's relative, right? Yeah. So, no, it was, you know, so, you know, like, you know, I had a pretty semi-permanent life. So that was great to experience that. And the most important thing that that gave me is like, I really understood the cultures of where we had nursing homes.
00;12;53;01 - 00;13;09;07
Speaker 1
Like, I got it like I lived there every day. Right? And I understood what made them tick, which is incredibly important when you're trying to create inspiration and motivation and, you know, trying to get things done right, because you have to you have to people to get this done in this industry, right? So you got to understand them.
00;13;09;09 - 00;13;33;06
Speaker 1
And it was very, very helpful for that. And, you know, we also take care of by far the most advanced and highest acute psych population. And I mean, I was all in on that. So, you know, coming from the addiction background, I obviously had a lot of empathy and passion for that. And, you know, during that time in my life, I had psychiatrists saying I was schizophrenic, bipolar, blah, blah, blah, blah, blah, blah.
00;13;33;14 - 00;13;56;14
Speaker 1
It was none of those things. I was just a hardcore addict doing hardcore addict things, right. Which is funny how things can go and make some weird life choices, right? So but you know, so I did amazing amount of empathy for that. Just naturally human to human, right. Pretty hard to when you don't experience something like that. So like you can just relate immediately and so took care of those guys.
00;13;56;16 - 00;14;21;04
Speaker 1
You know firsthand for years. And again another unbelievably humbling and grounding experience that still fuels me today. Because when you look around at who you're taking care of and you realize, wow, that could have been me. Like one little thing could have happened. I could be in this position and they need my help and they need support and they need love and they're vulnerable and, you know, scared and all these different things.
00;14;21;07 - 00;14;36;28
Speaker 1
You realize, like how lucky you are and, and and how quickly things can be different. Which again helps with the appreciation part for sure, which is I think the biggest, the biggest thing in life is to be grateful and appreciative for what you have and where you're at, and so that helps tremendously with that.
00;14;36;29 - 00;14;53;26
Speaker 3
For sure. And so you, you, you're you're starting to build this business right at that point. And, and you're focusing you're kind of focusing more in the skilled nursing long term care or was it psych.
00;14;53;29 - 00;15;16;08
Speaker 1
Yeah. So so so skilled nursing. You know, there was that act that passed or that that regulation that passed in 2000 that eliminated the institutionalization of psychiatric folks, which I think was a big mistake. Obviously, you know, we all want to live in this, like, utopian. Oh, everyone deserves every everything, right? That's not the way it is.
00;15;16;10 - 00;15;36;22
Speaker 1
Like life is real. There are real variables that are different. And like, you know, these people are dangerous people without help. Like very dangerous people like like our kids are at risk. Right? And so the question becomes is, do you want these people on the streets where your kids go to school and play on the playgrounds? And that's a real thing.
00;15;36;27 - 00;15;49;15
Speaker 1
We have a bunch of sex offenders that we take care of or or do you want to give them a home where they can achieve the best outcome for them? It's not perfect. Nothing's perfect. But it's.
00;15;49;15 - 00;15;51;17
Speaker 3
Better, right? It's better.
00;15;51;18 - 00;15;52;04
Speaker 1
And like it's.
00;15;52;09 - 00;15;53;24
Speaker 3
Better for them. Better for society.
00;15;53;25 - 00;16;21;20
Speaker 1
That's exactly right. Like, we can't be chasing perfection here. We have to progress, not perfection. Right? Like, how are we incrementally getting better, right? And that does make the world a better and safer place. And so it's important to to have that right. So got my license ran buildings, did the whole nine. You know, cool thing is I realized, you know, pretty early that, you know, I had to outturn everything at a different level because I was the owner.
00;16;21;20 - 00;16;48;01
Speaker 1
Son, nobody wants to give you credit for anything, right? Nobody. Like, everyone's rooting against you. Right. And that's your face to your face. Everyone is, you know, almost too much, right? But not almost is too much, right? Like, you know, just pretty disingenuous. And it's pretty obvious to see. Right, which I understand. I'm not mad at them for that, but, you know, behind your back, like nobody's rooting for you because everyone's jealous, everyone's envious, everyone's resentful, right?
00;16;48;03 - 00;16;55;25
Speaker 1
That, you know, this is unfair. They get this opportunity. So I doubt earn it. So I did right. Like I worked 15 hours a day. I was in the facility until now.
00;16;55;26 - 00;17;06;09
Speaker 3
Much of that let me ask you this. How much of that do you think is real? And how much of that do you think is in one's mind, feeling that pressure? But do you think people are really thinking.
00;17;06;16 - 00;17;13;05
Speaker 1
It's really not not like everybody. It's like it's not like, you know, ubiquitous like.
00;17;13;08 - 00;17;18;11
Speaker 3
Is there is that feeling also right? There is that feeling of totally, you know, like I need to prove myself.
00;17;18;12 - 00;17;53;02
Speaker 1
Listen, let me rephrase that. I'm sure at least some percentage of that was in my mind. Right. That was probably not untrue. Probably actually good, though, because it fueled me was probably probably end up being a positive. But I know for sure it was real too. And probably it's more real at the higher echelons ranks. Right? It's the people who feel threatened to have some sort of power level thing now, and they know that, you know, you know, the inevitable is coming and their their lifestyle they currently experience is at risk, their control is at risk, things like that.
00;17;53;02 - 00;18;08;25
Speaker 1
And so but the gift in that is, I learned to begin playing chess at a young age. Right? I didn't want to. I don't think anyone wants to at first. But you learn you have to and you have to learn how to be a transparent person and an honest person while playing chess. And that's that's a real thing.
00;18;09;01 - 00;18;20;17
Speaker 1
It's a real thing to figure it out. Yeah, it is, but it's a gift too. So did it. Did it successfully worked my tail off to do it and.
00;18;20;20 - 00;18;22;04
Speaker 3
Brings you to where you are today.
00;18;22;05 - 00;18;44;13
Speaker 1
Pretty close. Yeah. So so got got pretty close to the top. And you know, the biggest thing for me is I've always had a very entrepreneurial spirit. And so I had the opportunity to do something, you know, pretty significant on my own. And, you know, I told my dad had wanted to do this thing. And he was, you know, he was very supportive, by the way.
00;18;44;13 - 00;19;05;17
Speaker 1
He was like, don't worry about it. Like, this is great. You know, go do your thing. And so I left the company, took a risk right, left my cushy job and my cushy salary and all that kind of stuff that was earning, but, you know, left it for for nothing, right? For hope, for the hope of something better, which is cool.
00;19;05;18 - 00;19;25;19
Speaker 1
That's it's exciting. Right? Right. So anyways, so met this guy named my partner John and Lutz and are super special, like dude, super special guy. I mean his mind is different. Sees the world in a very unique way. It's cool how these some of these people can think so far outside the box, but it can have so much impact.
00;19;25;20 - 00;19;48;25
Speaker 1
Right? Right. And in reality, right. And, you know, taught me a couple of major lessons there too. But had this really had this special way with doctors and has a hard gold pastor's kid. And we teamed up we we we fell in platonic business love pretty immediately. It's cool when you meet somebody who you're like, that's.
00;19;48;25 - 00;19;49;09
Speaker 3
My connect.
00;19;49;09 - 00;19;50;06
Speaker 1
With right away, right?
00;19;50;09 - 00;19;51;25
Speaker 3
Right away. In business.
00;19;51;26 - 00;20;13;22
Speaker 1
It's like you have this like deeper understanding and deeper knowing. Immediately you're like, we're doing something special. Like, for sure. And that was immediate. Kind of like love at first sight, but in a different way. And we, you know, we had we had we were going to join this company. It was public that had some issues that we didn't know about at the time, found out about it.
00;20;13;23 - 00;20;30;03
Speaker 1
And by the way, like if we would have had this vehicle, like we'd have been huge by a huge, huge, huge, huge, huge by now. But we couldn't because it had some major issues. And so we made the tough decision to say, you know what, we're just going to do it from scratch on our own. Let's figure it out.
00;20;30;05 - 00;20;44;26
Speaker 1
And so we left and the next day opened up AMA, which stands for American Medical Administrators, Inc. and is a is a company. That is a really cool story, and it's really igniting a revolution in healthcare.
00;20;44;26 - 00;21;05;12
Speaker 3
And because you're so in at least in what you know, what I've seen with AMA, you're so forward thinking. Yeah, technology is really woven into everything that you do. And tell us a little bit about how you utilize technology, and you kind of bring us into your vision on AI and its place there.
00;21;05;13 - 00;21;28;07
Speaker 1
Yeah, yeah. Okay. So so first off, you have to realize as an operator, you know, things are constantly changing. There is no such thing as a like one true formula, right? Which is I think the exciting part in it is you have to keep on discovering what that is on a day to day basis. Right? It's a puzzle, right?
00;21;28;14 - 00;21;46;06
Speaker 1
Which I like solving puzzles and, you know, so like it's you're constantly solving this. So AI is the future of everything. Forget health care, right. Everything okay. So so if we're not all in on figuring that out and how to properly implement it into whatever we're doing, anywhere.
00;21;46;10 - 00;21;46;22
Speaker 3
You're going to.
00;21;46;22 - 00;21;54;17
Speaker 1
Fall behind, you're going to fall way behind, right? And you're going to have a less fulfilled life in some capacity.
00;21;54;18 - 00;21;59;17
Speaker 3
And how do you see AI and technology helping for for health care?
00;21;59;18 - 00;22;03;02
Speaker 1
Yeah. So I'll jump all in on that. I get off the philosophical stuff.
00;22;03;03 - 00;22;06;14
Speaker 3
No no no no. That's good. Philosophical is good to get.
00;22;06;14 - 00;22;32;25
Speaker 1
It in. So so yeah. So so a lot. And I guess I'll just start somewhere. We'll start macro. So the first part is it clogs gaps. So unfortunately in the world that we live in in healthcare it's a very human driven business. You're I mean we have today we have 60, 70 something nursing homes and probably 6000 employees, right?
00;22;32;28 - 00;22;57;07
Speaker 1
Sort of people. And it's all human driven, like all human driven, right? There's no robots taking care of people, nor do we probably want that right now. Maybe someday. Right. I'm hoping you got to be open. Right. So so the first part is whenever you have any human involvement in anything, you have error. Sure. Lots of it. Not just like some air.
00;22;57;09 - 00;22;58;20
Speaker 1
Unbelievable amounts of error.
00;22;58;21 - 00;22;59;07
Speaker 3
Human error.
00;22;59;08 - 00;23;16;27
Speaker 1
Yeah, a lot of it. And you know, you know, everyone knows the Pareto principle, right? The 2080 was real. It's a real thing. Right? Whether we like to admit it or not. And 80% is a lot bigger than 20. So there's a lot of air there, right? A lot. And even in the 20 there's air. Right? Okay. We're humans like it is what it is.
00;23;16;28 - 00;23;38;29
Speaker 1
Right. And so the first mid AI does is it eliminates a significant amount of that. Right. By the way 10% is significant 30% is massive, 50% is life changing. Right. And so the good the good part here is always it's about progress not perfection. Right. And how can we keep making incremental additions to our ecosystem that make it better.
00;23;38;29 - 00;24;08;14
Speaker 1
So so the first the first part of AI is it's reducing human error okay. So so where does that start. Well it starts plugging gaps in areas that have been consistent problems facing the industry. Let's start with documentation. Let's just start with documentation. Pretty important by the way. You're pretty important considering we receive government funds. And as they should if we're getting paid by taxpayers right.
00;24;08;16 - 00;24;31;01
Speaker 1
It should be legitimate right. It should not be illegitimate. And the only way to verify legitimacy is proof, right? You have some proof that what we're getting reimbursed for. Accurate is legitimate, right? Right. So the first piece is, is, you know, when Covid happened, 50% of the workforce.
00;24;31;01 - 00;24;32;02
Speaker 3
Left, right.
00;24;32;08 - 00;24;48;22
Speaker 1
Is a big hit man. So not only obviously your wage is going up and it's harder to make ends meet because now you're paying all this extra money that you have to pay because you have to have people. And obviously it creates a mercenary effect, right? Which you can't blame humans for doing. They they want to create the best for their lives.
00;24;48;22 - 00;25;01;26
Speaker 1
You can't be mad at them for that, right? They see an opportunity. They're going to take it just the same way that I see an opportunity. I'm going to try to take it right. You know, you try to do it the best way you can, but, you know, it created a really hard environment to exist in in the nursing home space.
00;25;01;28 - 00;25;12;06
Speaker 1
Thank God. You know, the government has has caught up, I would say for the most part on on making that right. A couple of years were real tough. But the first piece is documentation.
00;25;12;07 - 00;25;26;08
Speaker 3
So would you say that the AI guides. Yeah, yeah. So to to document in a certain way, is that what it offers best? Is it that once it's been documented the data accessibility is is more clear?
00;25;26;08 - 00;25;45;02
Speaker 1
So I'll tell you what exists now and I'll tell you what what we're building. Does that work. Yeah that's great. Okay. So the way it works now and it's very helpful is what exists. Is it. It tells you when things weren't documented to the best of its ability. Obviously that's a really hard thing. Like how do you prove something that you can't prove happened.
00;25;45;03 - 00;26;03;23
Speaker 1
Right. But but there's some really smart guys, like, I'll plug the guys over a guard doc. They're amazing. We use a service called Guard Dog. Incredible service. They do an amazing job. It made our lives a lot better. And they've it's led to better care, which is the goal here, right? Sure. And so huge plug to them. They're wonderful to work with.
00;26;03;23 - 00;26;31;06
Speaker 1
Very open minded, very receptive not defensive. And they're there for the right reasons which is key. Heartbeats everything right. So but we're and we're still going to use them. But what we're building now is, is auditory and automated and automated scribing based off of, you know, the regulatory regulating authoritative vernacular.
00;26;31;07 - 00;26;31;20
Speaker 3
Okay.
00;26;31;21 - 00;26;47;09
Speaker 1
All right. Meaning like, you know, if you're if you're if you're documenting in CMI, it's got to be in the Myer staffers language. Right. And if you don't have that language right, clawback right is what it is. I mean, you could say the same thing, but if you don't use the exact word right claw backs.
00;26;47;11 - 00;26;53;07
Speaker 3
So here it's, it's it's enabling I guess it's empowering the, the the nurse or the.
00;26;53;08 - 00;27;16;02
Speaker 1
Well. Well for sure. So so what we're building now is an auditory pickup right. So like the system when there is treatment going on or there is interaction with the patient, they are picking up the experience. And then the AI is sorting through that and documenting what is material in the situation.
00;27;16;03 - 00;27;16;18
Speaker 3
Interesting.
00;27;16;23 - 00;27;36;11
Speaker 1
And it knows how to pick out hey this is just small talk. Hey, this is an important hey, this is important, right? And that's a big thing is it? And transcribes it. Yeah. Which is huge right. Because you know you know, try try getting, you know, hyper successful people who make a lot of money to do the right thing 24 over seven based off of all the variables of life.
00;27;36;14 - 00;27;37;05
Speaker 3
Impossible.
00;27;37;06 - 00;27;41;15
Speaker 1
Really hard. Now try getting someone who's barely making more than minimum wage to do it right.
00;27;41;18 - 00;27;42;15
Speaker 3
Well, so challenging.
00;27;42;16 - 00;27;47;04
Speaker 1
More challenging. Yeah, actually more challenging. Good people. But I mean, it's just harder.
00;27;47;06 - 00;27;54;04
Speaker 3
It's a hard thing to do because they have so many residents, people they're working with a lot of different things different. And you're dealing with human lives.
00;27;54;05 - 00;27;55;09
Speaker 1
Exactly. So so first.
00;27;55;09 - 00;27;56;03
Speaker 3
Of all, real value.
00;27;56;03 - 00;28;13;06
Speaker 1
Yeah. So first off, you're dealing with real acuity, right? So like that comes first. Right. Number one. And number two that just a lot. They have a lot less tools right. Not their fault. Like they don't have eight years of college. And and you know this that and the other thing I mean like they're just trying to make ends meet and make it work, be the best they can.
00;28;13;07 - 00;28;16;26
Speaker 1
And so like you're just coming from a place of less tools which.
00;28;16;28 - 00;28;17;27
Speaker 3
Same caring.
00;28;17;28 - 00;28;23;27
Speaker 1
Just same same amazing caring. Yeah. By the way, I don't I mean, I've tried to fill in as a CNA before in my life.
00;28;23;29 - 00;28;25;00
Speaker 3
Tough work, not easy.
00;28;25;02 - 00;28;32;24
Speaker 1
I have more respect for CNAs than you could ever shake a stick at. Like those guys get after it and they do God's work. Period, period.
00;28;32;25 - 00;28;50;26
Speaker 3
So once that data is in there, how how do you utilize data? Right. You're like you're very you're driven you're a metrics driven. Everything. How? Give me a couple quick examples as to how you do that. What do you look for. So you know in technology forward.
00;28;50;28 - 00;28;57;25
Speaker 1
So I'll tell you about something that we're doing right now that will change healthcare in America. Sure. Not like kind of not like maybe.
00;28;57;26 - 00;28;58;27
Speaker 3
Like sneak.
00;28;58;28 - 00;29;20;22
Speaker 1
Sneak peek. This is definitely a sneak peek. Okay, so we have LPN now going bedside for ten minutes a day. And by the way, I'm open source, right. So like I give my secrets out to everyone. Like my goal is for the world to be a better place period. How can we how can we have as positive and impact on as many people and as many things as often as humanly possible?
00;29;20;24 - 00;29;45;24
Speaker 1
Right. Like that's my personal mission statement. So the first thing is we're open source. So like no secrets. Full transparency. So what we're doing is like in in nursing homes, there's a couple of, like really important things that you have to get. Right. Right. To give great care. Sure. So what we did is we took those really important things, and we bundled them into a ten minute daily patient visit.
00;29;45;26 - 00;30;07;07
Speaker 1
Where, where because the key to successful health care is individualized health care on a daily basis. So remember we're dealing with nursing home patients, six people in the world at the most advanced stage of entropy, right. Like unfortunately, the reality is they're dying faster than everybody else. Their immune systems are withering there. They have a ton of comorbidities that are that are overtaking their body.
00;30;07;07 - 00;30;24;07
Speaker 1
Unfortunately, it's a tough environment. Sure. And and by the way, they're losing their faculties on top of it. So they don't remember to drink water. Which kind of important. Right. So like I don't know if you know this, but like the first thing that happens whenever it resonates into the hospital every time without fail. Sailing back.
00;30;24;08 - 00;30;25;24
Speaker 3
Yeah. Yeah. Because they're died.
00;30;25;28 - 00;30;48;16
Speaker 1
They're dehydrated. Right. Like a simple thing. By the way, the genius is in the simple. Right. Right. And everything around you. Like, I love the quote by Socrates. There are no friends or enemies. There are only teachers. Thing is, teaching us always be paying attention. Right. So? So what did we do? So. So first off, we tried to use common sense because that is, I think, the greatest place to start anywhere.
00;30;48;18 - 00;31;07;13
Speaker 1
And the common sense approach is what are the biggest things that we need to track. And how do we implement change in a very simplified format to get to get better outcomes, to create higher quality of life and longer life? Right. And so our hypothesis, which is becoming a reality. We're doing this now, by the way. This is not we're not guessing anymore.
00;31;07;13 - 00;31;22;09
Speaker 1
Right. Is we have an LPN go bedside every day. They have the same patients, which is super important because they learn the patient. They learn what their baseline is, right? Is Mrs. Johnson holding her head to the right today? She usually to the left. Something's up. That's all it takes a nursing homes, by the way. It's all takes.
00;31;22;11 - 00;31;33;25
Speaker 1
So you got to be hyper vigilant, right? So the first thing they do is they go through their care plan. Right? So if you don't know what a care plan is, it's it's it is the individualized.
00;31;33;28 - 00;31;34;14
Speaker 3
Breakdown of.
00;31;34;14 - 00;31;55;26
Speaker 1
Breakdown of care for them, what makes them tick. What are their concerns. What if this happens? You got to be where you got to make sure you do this. So this doesn't happen all relative to that individual. So the first thing we do is we go through that right. And everything's on a yes no basis because it has to be automated and go up to the the cloud and distribute the information, which gets your question.
00;31;55;26 - 00;32;13;21
Speaker 1
Don't worry. I'm going to answer your question. So the first thing is that right is Mrs. Johnson. You know, is she fatigued today if she's if she seems fatigued. Higher chance for falls. Right. Let's get her a plus one to able to see a and make sure she's okay. Right. So the first thing is that the second thing is like quality measures right.
00;32;13;22 - 00;32;34;25
Speaker 1
And quality measures are a big deal everywhere in the country. It's your quality of care. It's your indications of quality of care. And you know, there are false major injuries, wounds being healed. ADLs are like mobility getting worse, antipsychotics like things like that. Right. That if you if you are on top of it. Right. The patient does way better.
00;32;34;27 - 00;32;38;00
Speaker 3
But how can how can I ever replace that? I mean, I mean.
00;32;38;01 - 00;32;48;25
Speaker 1
So it requires human intervention for now. And that's where so so what they do is they then go through the quality measures for each patient. Right. So if they have wounds they search them for wounds. Is the one getting better or worse yes or no.
00;32;49;02 - 00;32;52;08
Speaker 3
You're saying the AI is viewing the data that has been pulled in?
00;32;52;09 - 00;32;55;12
Speaker 1
Yeah, I'm going to get to the AI. The first part is the input, right?
00;32;55;15 - 00;32;56;08
Speaker 3
Yeah.
00;32;56;10 - 00;33;05;01
Speaker 1
Okay. Okay. Yeah. Okay. Okay. So so so the first part is, is it happening? Is it worse? Is it better yes or no? Right. Right. Because simple.
00;33;05;02 - 00;33;05;18
Speaker 3
Yeah. You got to.
00;33;05;18 - 00;33;24;02
Speaker 1
Identify if. No. And I'll cut to the chase on the phone. Yeah. So if no or if. Yes, whatever the materiality is of either of those answers, are it then our AI then it's really our automation piece. But our automation piece then sends that to whoever in the organization needs to know it. Right? So it goes immediately to the door.
00;33;24;02 - 00;33;30;18
Speaker 1
When it goes immediately to the therapy person, it goes immediately to the regional nurse. It goes immediately to the quality measures regional team. It goes immediately to the scene.
00;33;30;20 - 00;33;36;27
Speaker 3
It's able to have its fingers in all the different data to then disseminated to those humans that get a difference.
00;33;36;28 - 00;33;37;28
Speaker 1
We still need humans.
00;33;37;29 - 00;33;38;07
Speaker 3
You still.
00;33;38;07 - 00;33;42;19
Speaker 1
Need you still need humans. And humans aren't going anywhere. Not for a long time, right?
00;33;42;22 - 00;33;47;11
Speaker 3
But there's only so much brainpower that one human can manage all this. That's why it has tremendous amount.
00;33;47;11 - 00;34;07;01
Speaker 1
Of debt. But that's why everything. That's why infrastructure is so important. Right. And quick, quick side note, I mean, I do things a little differently than a lot of operators, like a lot of operators, you know, do make money on their management company and things like that. I lose an insane amount of money in my management company because I'm so in to infrastructure, so into infrastructure.
00;34;07;01 - 00;34;19;02
Speaker 1
So like I'm all about having highly competent, highly integrity, highly work ethic, people involved in the care. That's where the needle is moved. You have to have people who are bought in who care, who.
00;34;19;02 - 00;34;20;02
Speaker 3
Give a shit.
00;34;20;05 - 00;34;34;25
Speaker 1
Who give a chance, right? Who want the best for people and are like, that's what makes them tick in life. So we find those people for all these positions and then they are like on high alert to receive this data so that they can go make a change. They can go make they can go move the needle with that patient.
00;34;34;25 - 00;34;39;12
Speaker 3
You need that that blend of the technology to someone who's going to actually.
00;34;39;18 - 00;34;42;06
Speaker 1
Have to. It is mission critical right now.
00;34;42;07 - 00;34;49;01
Speaker 3
On that note, where do you see the biggest moves in tech, whether it's AI or otherwise in the future going?
00;34;49;04 - 00;35;13;17
Speaker 1
It's a really good question. So first off, AGI, which Mr. Musk has mentioned should be here in 2027, which is pretty wild, right? You know, it's it's hard to hypothesize on what that means. AGI meaning like self-educated self almost like its own conscious being right in the AI world. I mean, once that is here, I think the gloves are off, basically.
00;35;13;18 - 00;35;18;18
Speaker 1
I think the the possibilities are legitimately endless.
00;35;18;18 - 00;35;26;17
Speaker 3
Because it will be able to self-learning self and then give maybe predictive care suggested, you know if it's already doing so.
00;35;26;18 - 00;35;35;20
Speaker 1
And I'll tell you where we're going with that too, because that's a huge piece of it. So so everything in healthcare is if you want to do good healthcare, right. If you think everyone wants to if.
00;35;35;20 - 00;35;36;08
Speaker 3
If you bought.
00;35;36;08 - 00;36;07;29
Speaker 1
In is proactive and predictive, right. So I always say success is in the preparation, right. All your majority of your success is going to come from how prepared you are, right? That's where you have to put in your investment. Right. And so we're using where we are using AI. Right. Is taking all of the data sources and all of the variables per resident, whether it's their family history, their current intake form for that day.
00;36;08;02 - 00;36;30;01
Speaker 1
Most recent documentation 24 hour reports in PCC where all their incidents happened, all that kind of stuff. And it's taking all that information and saying, hey, this patients at risk for X based off the data. This patients at risk for Y. And then once you have that having the intervention of the physicians who are also very bought in to come in and initiate those treatments.
00;36;30;07 - 00;36;31;26
Speaker 1
Right.
00;36;31;29 - 00;36;32;20
Speaker 3
That's wild.
00;36;32;21 - 00;36;38;19
Speaker 1
Yeah. That's that's where it's going. That's where we're going. I think that's where everyone has to be going.
00;36;38;21 - 00;36;40;26
Speaker 3
To give that higher level of quality care.
00;36;40;27 - 00;37;03;21
Speaker 1
That's where the impacts. Right. So and this is why it's so hard right now is whether so so right now you're and the states are really optimistic about where government is going on a state level and on a federal level in relation to to to care. Right. The hard reality of, of care is that it's expensive. Sure. It's expensive.
00;37;03;25 - 00;37;23;01
Speaker 1
Thank God we have an affluent society that is is kind of ahead of the game, and especially relative to many countries. Most people wouldn't feel that way. But we have to. We always have to remember where are we at compared to everyone else? That's important. Okay. Like, yeah, we can go pie in the sky, utopian, whatever. But comparatively speaking.
00;37;23;04 - 00;37;23;21
Speaker 3
We're better off.
00;37;23;22 - 00;37;26;22
Speaker 1
We're better off. Like significantly. Like, not not just kind of like.
00;37;26;29 - 00;37;30;01
Speaker 3
And we have to go back to the beginning. Appreciate that. I appreciate it.
00;37;30;02 - 00;37;30;10
Speaker 1
I have.
00;37;30;10 - 00;37;31;07
Speaker 3
To position.
00;37;31;08 - 00;37;48;08
Speaker 1
We have to remember that life is a journey and not an event. And everyone's trying. For the most part, I think to do the right thing. Maybe not everybody, but a lot of people are enough. People are, let's put it that way, to make a better world. And we have to work together with no ego, no greed and no fear to manifest that.
00;37;48;09 - 00;37;58;29
Speaker 3
Do you say, would you say that that is something that motivates your like that open. You're like just open borders. Sharing ideas, sharing information, not putting information in like a garden and locking it in.
00;37;58;29 - 00;38;19;04
Speaker 1
100%. So 100%. So, you know, my biggest thing as a leader for our organization is I think the magic is, is with with the individual. Right. So like I think the, the death of healthcare is, is found in corporatism. I'll explain what that what I mean by that.
00;38;19;11 - 00;38;21;01
Speaker 3
So locking away.
00;38;21;08 - 00;38;41;06
Speaker 1
Or I'll explain it. So like corporate everything corporate is a fear based structure right. Don't do this because we might get sued. Right? Right. Don't don't don't look and sound like this because I'm. We're afraid of this, right? Well, if you if you have a fear based anything, your creativity is stifled and your outcomes are shit, like they're just, comparatively speaking to what they could be, right?
00;38;41;07 - 00;38;51;21
Speaker 1
So my entire focus as a leader is how do I find the special people, the elite people, the people who really care, who have all the right intangibles.
00;38;51;21 - 00;38;52;24
Speaker 3
And partners?
00;38;52;26 - 00;39;06;07
Speaker 1
Everything's partnership, everything's partner. I have more partners you can shake a stick at. I'm greedy by not being greedy. Right. Right. So, like, my thing is win win win. We have to be creating ubiquitous wins. If we're winning at the expense of anyone losing, I'm not interested. Right.
00;39;06;13 - 00;39;09;17
Speaker 3
So, yeah. Because then someone is losing, and that's typically the patient.
00;39;09;18 - 00;39;30;11
Speaker 1
Yeah. For sure, for sure. So we always have to be creating. Good. Only good. Right? Right. So like as it pertains to people, what I do is I say, listen, we're not going to do the corporate thing. What makes you special is you. The most you you can be is where the magic is at. And so my job is to try to pull that out of you or try to encourage you to do that.
00;39;30;11 - 00;39;38;07
Speaker 1
The way that I do that is by basically saying, hey, we're not going to ask how much, we're going to ask how, why and when, and we're going to take risk.
00;39;38;09 - 00;39;38;29
Speaker 3
It's amazing.
00;39;38;29 - 00;39;45;13
Speaker 1
And we're going to try new things. And you know what? If they don't work, we're not going to cry over spilled milk. We're not going to blame shift. We're just going to say, hey, what's the next thing?
00;39;45;14 - 00;39;46;22
Speaker 3
And to look forward in.
00;39;46;23 - 00;39;51;17
Speaker 1
And I'm going, I applaud the failure, I applaud, I say, that was amazing. Hey, we gave it a go.
00;39;51;18 - 00;39;57;24
Speaker 3
Well, I mean, if that comes from a personal place too, because you've had a lot of struggle, and your struggle you saw took you.
00;39;57;26 - 00;39;58;06
Speaker 1
Greatest.
00;39;58;06 - 00;40;10;29
Speaker 3
Gift to the greatest gift. 100%. Let me ask you some questions that are really that are a little bit more rapid fire. Let's go. If any good books, are you a book reader or are you a podcast listener?
00;40;11;05 - 00;40;12;03
Speaker 1
Oh yeah.
00;40;12;04 - 00;40;13;11
Speaker 3
Oh yeah. Give us.
00;40;13;12 - 00;40;13;26
Speaker 1
A.
00;40;13;26 - 00;40;17;13
Speaker 3
Book that you would recommend for a podcast that you would recommend.
00;40;17;16 - 00;40;20;21
Speaker 1
Okay. This is going to be a little this could be a little out there for a.
00;40;20;21 - 00;40;22;20
Speaker 3
Lot of people. That's okay.
00;40;22;23 - 00;40;39;07
Speaker 1
But hey you got to keep it real right? So so I study wisdom, right? That's where I focus all of my time. And the first thing that I recommend to anybody who's trying to master the universe or trying to better themselves, is a study that her principles.
00;40;39;12 - 00;40;40;06
Speaker 3
Okay.
00;40;40;08 - 00;40;41;10
Speaker 1
Are you familiar?
00;40;41;13 - 00;40;43;20
Speaker 3
Vaguely. But I mean, not nearly as much as you.
00;40;43;20 - 00;40;52;28
Speaker 1
I'm sure. Yeah, there's a guy, a guy by the name of Hermes Trismegistus, which means the the thrice great Hermes. So there's there's reasons.
00;40;53;03 - 00;40;54;08
Speaker 3
Is that a podcast or is it?
00;40;54;10 - 00;41;09;10
Speaker 1
No, no, it's a book. Yeah. Okay. And within it are the Hermetic principles, which are like the laws of nature. Right. And it's incredibly important to understand the laws of nature. And one of the things that I try to do as a leader is I don't try to swim upstream. I try to swim with the motion of the ocean.
00;41;09;10 - 00;41;21;04
Speaker 1
What does that mean? Instead of trying to buck the norm or buck the natural order of things, I try to work with the natural order of things and find ways to support it or work within it.
00;41;21;05 - 00;41;22;22
Speaker 3
It's a very tight guy mentality.
00;41;22;23 - 00;41;29;12
Speaker 1
Very much so. Yeah, very much so. And by the way, it's a lot easier and it's a lot more simple and simple as good.
00;41;29;13 - 00;41;36;09
Speaker 3
And you can move forward by working with the system because the system can take you and you can redirect that energy.
00;41;36;11 - 00;41;58;27
Speaker 1
Yeah. Yeah. There's 100%. First off, I think every entrepreneur and just everybody in life should read the Art of War by Sunset. I think that's an automatic, like a must. Like actually a must. The Meditations of Marcus Aurelius are another big one. I mean, I think literally just by by those with the Hermetic Principles, you can get pretty far in life.
00;41;58;29 - 00;42;02;28
Speaker 1
And so those are kind of what I would, I would say are my base recommendation.
00;42;03;05 - 00;42;14;24
Speaker 3
Those are great. We're we are care. We've covered code. We've talked about technology capital. Obviously you're making big investments in growth. You guys are growing tremendously.
00;42;14;25 - 00;42;15;24
Speaker 1
You got to by the way.
00;42;15;25 - 00;42;21;29
Speaker 3
Yeah. So what is that saying is some saying it's like either grow or grow whether.
00;42;22;02 - 00;42;42;26
Speaker 1
It is grow dice. So I actually say this all the time. You're getting better and getting worse. There's no in between. Like the the idea that you're stabilizing or in the same place is incorrect. If you think you're in the same place, you've gotten worse. So like, we have this almost like hyper focus on getting better. Right. Like like no, no emotion to a certain that you have to manage that part of it.
00;42;42;27 - 00;42;57;13
Speaker 1
And that's a serious part of it. But like, it's just this, this hyper focused commitment to getting better every day. And you have to if you don't, you will get worse. Period. And that's and that's a self honest reflection.
00;42;57;20 - 00;43;16;01
Speaker 3
No, no I think that that makes a lot of sense. And I think a lot of people that will resonate with people. From where do you, as I'm sure you invest. Obviously you invest in your business. You invest outside of your business. Where where do you see investment opportunities? How do you look at those?
00;43;16;03 - 00;43;43;14
Speaker 1
Yeah. So it's a good question. So the first the for us I'll speak for us first. We are investing everywhere in healthcare. We believe. And this is kind of cool because this gets into the other piece of what we do. We also own clinics like outpatient clinics from PCP, primary care to all the forms of specialty. I think we're 14 different states right now.
00;43;43;16 - 00;44;06;22
Speaker 1
Wow. Yeah. We're moving. And, you know, we're really moving and grooving. We're investing in everything. And I'll explain why. And it actually goes back to the patient. So right now I'll say the biggest problem in healthcare the biggest issue it's fragmented. It's incredibly fractional. It's and fragmented. And the problem is is that think of the patient journey right.
00;44;06;23 - 00;44;33;14
Speaker 1
So you know here's the patient journey right. There's the patient experiences pain. They experience sickness. They experience, you know kidney issues. And they get old and they have acute. So the patient journey covers the whole spectrum. Well the problem with healthcare today is that each one of those stops on the patient journey is siloed an individualized to that individual provider.
00;44;33;16 - 00;44;50;06
Speaker 1
And each one of those stops, that individual has their own incentives that do not correlate with the rest of the journey. So the problem with healthcare is not actually patient focused. It's it's silo focused, right. Well who suffers?
00;44;50;12 - 00;44;56;23
Speaker 3
It's segmented. It's focused on those individual, let's say care units or providers and not the journey of like you said.
00;44;56;23 - 00;44;56;26
Speaker 1
It's.
00;44;56;26 - 00;44;57;25
Speaker 3
Not the patient patient.
00;44;57;25 - 00;45;23;17
Speaker 1
So it's not patient focused. Yeah it's interesting. That's the issue. Like that's we got to start a brass tacks right. Yeah. Kind of a kind of like a mass reductionist to a certain degree. And like we have to reduce things down to its simplest format so we can understand, okay, where's where's where's the starting point. So for us at AMA, the starting point is, well, we have to own the entire system because until we can get everybody under one flag in incentivized collectively.
00;45;23;24 - 00;45;39;28
Speaker 1
Well, now what can we do? We can now repute the focus on the patient. Right? Because people aren't worried about how they're going to make money here or how they're going to make money here, or how they're going to make money here. They're that part of the equation is already solved, right? Right now they can simply say with the dude, here we go.
00;45;39;29 - 00;46;02;28
Speaker 1
So with a system that the other the other issue and this is what we're working on fixing now is I guess I'm just opening up a race to this now. So you're welcome. Everybody is is there's no EMR system or there is no system that communicates across the entire spectrum of health care. Right. The greatest statistic to to to prove this is there's something called the transition of care visit.
00;46;03;01 - 00;46;20;21
Speaker 1
And a transition of care visit is when a patient goes to the hospital like you and me go to the ER, right. You're supposed to go see your primary care physician right after that and give them the download so they can make adjustments for your. Because remember, their managing the primary care physician is like your shepherd of your personal health care journey.
00;46;20;22 - 00;46;37;13
Speaker 1
Right. And so when acute things happen they need to know about it. Right? I don't even know about it. There's like. The silos. Yeah. It's like 40% of of transition of care exists in the world. So less than half the time people are going to the hospital, their primary care physician are even aware of it. Okay. So great.
00;46;37;14 - 00;46;57;03
Speaker 1
And I love statistics because they kind of tell a very long story in a very short blip, which is helpful for the rest of us. Right. And so the big thing that we're working on is just internally, like is, is we're creating a system that automatically communicates across the spectrum. If you go talk to cardiologists and specialists are number one.
00;46;57;03 - 00;47;22;05
Speaker 1
Grievance is not their number one. Everyone's got 1000, but one of the top ones is well, I don't get the blood reports from the primary care. I don't get the diagnostic reports from the primary care or from this or from that, or from the from the lab or whatever. Like they're not showing up and then I don't know how to treat my patient because I don't have it and I'm guessing and and I go, this is cool because we're, you know, we're acquiring tons of different specialties.
00;47;22;06 - 00;47;25;19
Speaker 1
It's like to hear about all these things all the time. Fascinating journey in general.
00;47;25;24 - 00;47;30;24
Speaker 3
But do you think so? Wait, so do you think that technology is going to democratize this? It's going to flatten this.
00;47;30;24 - 00;47;31;02
Speaker 1
That's what.
00;47;31;02 - 00;47;32;22
Speaker 3
We're doing. That's. That's what you're working.
00;47;32;22 - 00;47;33;15
Speaker 1
That's the vision of AMA.
00;47;33;16 - 00;47;43;20
Speaker 3
Right. It's going to run. I mean, you're going to have this seamless transition of data from the hospital to the skilled from the clinics. Everything is all in one platform, be it has to be.
00;47;43;21 - 00;47;44;04
Speaker 1
It has to be.
00;47;44;12 - 00;47;52;27
Speaker 3
And it has to be open source. It has to be so that it is focused on correct on the patient period that is taking it. That is.
00;47;52;28 - 00;47;53;16
Speaker 1
It's happening.
00;47;53;22 - 00;47;54;22
Speaker 3
Yeah. It's happening.
00;47;54;23 - 00;48;13;27
Speaker 1
It's you know what? It isn't undertaking. But thank God, because if it wasn't interesting it wouldn't be fun. Wow. And the other thing too is, you know, like we're closing on our first hospital in July. Okay. Very excited about that. You know, I think every, every nursing home owner will complain about how many times they send out a patient to a hospital and they come back untreated for that issue.
00;48;13;28 - 00;48;29;00
Speaker 1
Right, right. Not never again. Why? Why? Under the same system. Right. So now we have the continuum of care. And now all of our physicians, all of our doctors, all of our nurses are on the same page. Yes. So, like.
00;48;29;04 - 00;48;29;22
Speaker 3
That's amazing.
00;48;29;24 - 00;48;45;01
Speaker 1
We're not even chasing the money side of it. Like, I don't even care if it makes money or not. Like what I, what I've learned in healthcare. I mean, we want to make money, but like what? What's more important? And what we've learned our way is if you do the right thing and you do it for patient focus, it works out.
00;48;45;04 - 00;48;56;11
Speaker 1
Yeah, it just works out. And so we're incredibly excited about this. And you know that's exciting. I think we view it as a duty. It's like a duty. Like if you can't do it you have to do it right.
00;48;56;13 - 00;49;09;01
Speaker 3
You can see I could see it moving in the I see what you're saying. And I mean, that's it'll be a beautiful thing. It'll be this sharing of data across so many platforms. You got it. The silos come down and there's just one open space.
00;49;09;04 - 00;49;15;13
Speaker 1
So how much, how much, how much will we move the needle immediately? By automating all reports.
00;49;15;14 - 00;49;16;20
Speaker 3
Right.
00;49;16;22 - 00;49;38;28
Speaker 1
To every so. Right. Like you've got a sick patient, right? And the sick patient visits the cardiologist twice a year. They visit the pain doctor six times a year. Right? They visit the spine doctor two times a year. Right. How much ground have we covered? Just by making sure that all the information that those guys have to have, they have it immediately.
00;49;38;29 - 00;49;39;23
Speaker 1
Yeah.
00;49;39;25 - 00;49;41;01
Speaker 3
It makes a huge difference.
00;49;41;07 - 00;49;48;06
Speaker 1
How much ground? A lot. The answer is we've covered a lot of ground. And that ground is incredibly impactful for patient care.
00;49;48;08 - 00;49;52;00
Speaker 3
Well, we've covered a lot. We could probably sit here for another hour or two.
00;49;52;01 - 00;49;52;05
Speaker 1
Yeah.
00;49;52;06 - 00;49;58;08
Speaker 3
For sure. But I got to catch a plane, man. Go do it. So we're going to do this again. Let's do it. I think we definitely should.
00;49;58;08 - 00;49;59;04
Speaker 1
Do it. I loved it.
00;49;59;04 - 00;50;00;14
Speaker 3
This is this is amazing.
00;50;00;15 - 00;50;00;20
Speaker 1
Yeah.
00;50;00;21 - 00;50;15;28
Speaker 3
It's super. I have so many other things I want to ask you, but there's going to be. There's going to be a part two. We'll see you, man. I love it. Happy to do. I love it. This has been great. Great, great talking with you. Yeah, yeah. Nick, you are a world of information. I have a feeling that our next conversation.
00;50;15;29 - 00;50;19;13
Speaker 3
Yeah. The world of healthcare and technology is going to look totally different.
00;50;19;15 - 00;50;20;05
Speaker 1
100%.
00;50;20;05 - 00;50;21;06
Speaker 3
And it's going to be very cool.
00;50;21;07 - 00;50;29;16
Speaker 1
That's the exciting part. And, you know, I think we can finish with this. But, you know, if you look at healthcare for the past 60 years, it's been the exact same. Yeah.
00;50;29;23 - 00;50;30;19
Speaker 3
It's not anymore.
00;50;30;20 - 00;50;31;12
Speaker 1
Not anymore.
00;50;31;19 - 00;50;32;07
Speaker 3
That's amazing.
00;50;32;07 - 00;50;33;02
Speaker 1
Not anymore.
00;50;33;03 - 00;50;34;14
Speaker 3
All right. Thank you man.
00;50;34;15 - 00;50;35;03
Speaker 1
My pleasure.